SGTX Sigilon Therapeutics Inc.
Upcoming Catalysts
| Drug | Stage | Catalyst Date |
|---|---|---|
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SIG-001
Hemophilia A
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Phase 1/2
Phase 1/2
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CAMBRIDGE, Mass., April 08, 2021 (GLOBE NEWSWIRE) -- Sigilon Therapeutics, Inc. (NASDAQ:SGTX), a biotechnology company that seeks to develop functional cures for chronic diseases through its Shielded Living Therapeutics™ platform, today announced that its President and Chief Executive Officer, Rogerio Vivaldi, M.D., will present a corporate overview during the 20th Annual Needham Virtual Healthcare Conference. The presentation will take place on Thursday, April 15 at 9:30 a.m. EDT, in a virtual format.
About Sigilon Therapeutics
Sigilon Therapeutics seeks to develop functional cures for chronic diseases through its Shielded Living Therapeutics™ platform. Sigilon's product candidates are non-viral engineered cell-based therapies designed to produce the crucial proteins, enzymes or factors needed by patients living with chronic diseases such as hemophilia, lysosomal disorders and diabetes. The engineered cells are protected by Sigilon's Afibromer™ biomaterials matrix, which shields them from immune rejection and fibrosis. Sigilon was founded by Flagship Pioneering in conjunction with Daniel Anderson, Ph.D., and Robert Langer, Sc.D., of the Massachusetts Institute of Technology.Investor Contacts
Glenn Reicin
Sigilon Therapeutics, Chief Financial Officer
[email protected]
646-696-4344Jennifer Porcelli
Solebury Trout
[email protected]
646-378-2962
Media Contact
Amy Bonanno
Solebury Trout
[email protected]
914-450-0349
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David Davidson, M.D. to Serve as Chief Medical and Development Officer; Hari Pujar, Ph.D. to Serve as Chief Operating Officer and Lin Guey, Ph.D. to Serve as Senior Vice President of Rare Diseases Program Strategy and Operations
Tessera Therapeutics, a biotech company pioneering Gene Writing, announced today the appointment of David Davidson, M.D. as Chief Medical and Development Officer, Hari Pujar, Ph.D. as Chief Operating Officer, and Lin Guey, Ph.D. as Senior Vice President of Rare Diseases Program Strategy and Operations. The senior appointments come just two months after the company announced over $230 million in Series B fundraising in January and will be key to advancing the company's Gene Writing platform and accelerating development of multiple therapeutic programs.
"David, Hari and Lin all bring a wealth of strategic leadership and deep expertise to Tessera at an exciting time in our growth," said Dr. Geoffrey von Maltzahn, CEO and Co-Founder of Tessera. "Together and alongside our current senior leadership team, they will be instrumental in advancing Tessera's mission to bring forth innovative and curative medicines that go beyond the limitations of current technologies."
Dr. Davidson brings over 20 years of expertise in clinical drug development focused on rare diseases and gene therapy to his new role as Tessera's Chief Medical and Development Officer. For nearly a decade, Dr. Davidson served as Chief Medical Officer of bluebird bio, where he played a critical role in advancing a broad genetic medicine pipeline across blood disorders, rare diseases and oncology, successfully leading numerous genetic medicine programs into the clinic and delivering multiple first-in-class approvals for genetic medicines in the U.S. and Europe. Prior to bluebird, Dr. Davidson led clinical research for a wide range of therapeutic programs at Genzyme and GelTex, spanning biologics, polymers, and gene therapy. He completed a fellowship in infectious diseases at the Harvard Longwood Combined ID Program, his residency training in internal medicine, and an endocrinology research fellowship at the University of Chicago Hospitals. Dr. Davidson received his M.D. from New York University and B.A. from Columbia University.
"I have been privileged to lead the clinical development of gene therapy programs from inception through approval to deliver these transformative medicines to patients with life-threatening diseases. I am excited to join the team at Tessera Therapeutics to bring innovative Gene Writing therapies into the clinic," said Dr. David Davidson. "By harnessing the power of mobile genetic elements, Tessera's Gene Writing platform is poised to realize the full potential of genetic medicine and make an unprecedented impact on human health. I am honored to help move this vision forward."
Dr. Pujar, an Operating Partner at Flagship Pioneering since October 2020, will also serve as Tessera's Chief Operating Officer. Dr. Pujar brings more than 20 years of drug development, manufacturing and commercialization experience spanning AAV gene therapy, mRNA vaccines and therapeutics, and traditional vaccines and biologics. Most recently, Dr. Pujar served as Chief Technology Officer at Spark Therapeutics, a pioneer in AAV gene therapy, and Head of Technical Development and Manufacturing at Moderna, where he led mRNA and lipid nanoparticle development and manufacturing. Previously, Dr. Pujar spent 18 years at Merck & Co., developing and commercializing vaccines and biologics. Dr. Pujar received his Ph.D. in Chemical Engineering from the University of Delaware and his M.B.A. from the University of Pennsylvania.
"As medicine continues to move up the central dogma of molecular biology from proteins to mRNA to DNA, the opportunity to cure diseases will continue to expand. I'm excited to help shape Tessera Therapeutics, whose Gene Writing technology has the potential to address many of the limitations of current genetic medicine technologies," said Dr. Hari Pujar.
Dr. Guey, Tessera's Senior Vice President of Rare Diseases Program Strategy and Operations, will oversee the execution of Tessera's genetic medicine programs in Rare Diseases. Dr. Guey brings over 13 years of drug development experience in program leadership, research and nonclinical development, pharmacogenomics and epidemiology. Prior to joining Tessera, Dr. Guey served in senior leadership roles for Moderna, Xilio Therapeutics, Shire, and Pfizer. Dr. Guey received her Ph.D. in Statistics and B.S. in Mathematics from Stony Brook University.
"With its pioneering and versatile Gene Writing technology, Tessera Therapeutics is at the very forefront of genetic medicine," said Dr. Lin Guey. "I look forward to working with the Tessera team to find new ways to cure rare genetic diseases at their source."
For more information on Tessera, including how Gene Writing works, partnership opportunities, and job openings, visit www.tesseratherapeutics.com.
About Tessera Therapeutics
Tessera Therapeutics is a life sciences company pioneering Gene Writing, a new biotechnology designed to offer scientists and clinicians the ability to write small and large therapeutic messages into the genome, thereby curing diseases at their source. Gene Writing holds the potential to become a new category in genetic medicine, building upon recent breakthroughs in gene therapy and gene editing while eliminating important limitations in their reach, utilization, and efficacy. Tessera Therapeutics was founded by Flagship Pioneering, a life sciences innovation enterprise that conceives, resources, and develops first-in-category companies to transform human health and sustainability.
About Flagship Pioneering
Flagship Pioneering conceives, creates, resources, and develops first-in-category life science platform companies to transform human health and sustainability. Since its launch in 2000, the firm has, through its Flagship Labs unit, applied its unique hypothesis-driven innovation process to originate and foster more than 100 scientific ventures, resulting in over $80 billion in aggregate value. To date, Flagship has deployed over $2.3 billion in capital toward the founding and growth of its pioneering companies alongside more than $19 billion of follow-on investments from other institutions. The current Flagship ecosystem comprises 41 transformative companies, including Axcella Health (NASDAQ:AXLA), Codiak BioSciences (NASDAQ:CDAK) Denali Therapeutics (NASDAQ:DNLI), Evelo Biosciences (NASDAQ:EVLO), Foghorn Therapeutics (NASDAQ:FHTX), Indigo Ag, Kaleido Biosciences (NASDAQ:KLDO), Moderna (NASDAQ:MRNA), Rubius Therapeutics (NASDAQ:RUBY), Sana Biotechnology (NASDAQ:SANA), Seres Therapeutics (NASDAQ:MCRB), and Sigilon Therapeutics (NASDAQ:SGTX).
View source version on businesswire.com: https://www.businesswire.com/news/home/20210407005336/en/
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CAMBRIDGE, Mass., March 31, 2021 /PRNewswire/ -- Flagship Pioneering today announced the expansion of its senior leadership team with the appointment of Michael T. Nally as CEO-Partner. In this role, Nally will bring his considerable expertise in biopharma to help achieve the highest possible value creation for Flagship and its companies. He will also serve as CEO of Generate Biomedicines, a company focused on pioneering a versatile Generative Biology platform to create a broad array of breakthrough therapeutics.
Nally previously spent 18 years at Merck, where he was most recently Executive Vice President and Chief Marketing Officer of its Human Health division. In this role, he led Merck's global marketing strategy, commercialization model, and long-term growth strategy across its product portfolio.
"Mike is a singular talent in life sciences and pharma, and our companies will benefit tremendously from his leadership, experience, and knowledge," said Noubar Afeyan, Founder and CEO of Flagship Pioneering. "Mike's appointment to this unique hybrid role is the latest example of Flagship's commitment to bringing on the highest caliber industry executives with track records of exceptional performance to drive growth for our companies."
"I am excited to join Flagship Pioneering's world class team. Flagship companies are bettering patient health at increasing scale, as well as delivering extraordinary value," added Michael T. Nally, CEO-Partner, Flagship Pioneering. "I look forward to working closely with my Flagship colleagues and leading the team at Generate to bring to market new, disruptive innovations that improve human lives."
"Mike is joining at an important time for Generate, which leverages AI and Machine Learning to enable a fundamental shift in therapeutic development," said Avak Kahvejian, Founding Co-CEO of Generate Biomedicines and General Partner, Flagship Pioneering. "I look forward to partnering with Mike to advance our work creating breakthrough medicines that realize the breadth of this platform's potential."
"Generate's platform enables it to leapfrog existing discovery methods to develop novel biologic drugs for potentially any target," said Geoffrey von Maltzahn, Founding Co-CEO of Generate Biomedicines and General Partner at Flagship Pioneering. "I am delighted to welcome Mike to the Generate team; he will bring his deep strategic and operational expertise to help us deliver on the promise of this remarkable platform."
About Michael T. Nally
Nally previously served as President of Merck's Global Vaccines division where he and his team increased the reach and public health impact of its portfolio of pediatric, adolescent, and adult vaccines resulting in significant business growth. He also led Merck's business in Sweden and the UK, and developed innovative, customer-centered approaches that improved business results and accelerated patient access to the company's medicines and vaccines. Additionally, he held a variety of senior positions at Merck in commercial operations, business development, and investor relations.
Mike received an M.B.A. from Harvard Business School, a degree in Accounting and Finance from the London School of Economics, and a B.A. in Economics from Middlebury College.
About Generate Biomedicines
Generate Biomedicines is pioneering the field of Generative Biology, where novel therapeutics are computationally generated, instead of being discovered. Generate has built a machine learning–powered biomedicines platform with the potential to generate new drugs across a wide range of biologic modalities—from short peptides to complex antibodies, enzymes, cytokines, and heretofore undiscoverable therapeutics. This platform represents a potentially fundamental shift in what's possible in the field of biotherapeutic development, addressing key challenges of drug discovery and drastically expanding the available search space for novel biomedicines. Generate Biomedicines is based in Cambridge, MA, and was founded in 2018 by Flagship Pioneering.
About Flagship Pioneering
Flagship Pioneering conceives, creates, resources, and develops first-in-category life science platform companies to transform human health and sustainability. Since its launch in 2000, the firm has, through its Flagship Labs unit, applied its unique hypothesis-driven innovation process to originate and foster more than 100 scientific ventures, resulting in over $80 billion in aggregate value. To date, Flagship has deployed over $2.3 billion in capital toward the founding and growth of its pioneering companies alongside more than $19 billion of follow-on investments from other institutions. The current Flagship ecosystem comprises 41 transformative companies, including Axcella Health (NASDAQ: AXLA), Codiak BioSciences (NASDAQ: CDAK) Denali Therapeutics (NASDAQ: DNLI), Evelo Biosciences (NASDAQ: EVLO), Foghorn Therapeutics (NASDAQ: FHTX), Indigo Ag, Kaleido Biosciences (NASDAQ: KLDO), Moderna (NASDAQ: MRNA), Rubius Therapeutics (NASDAQ: RUBY), Sana Biotechnology (NASDAQ: SANA), Seres Therapeutics (NASDAQ: MCRB), and Sigilon Therapeutics (NASDAQ:SGTX).
Media: [email protected]
View original content to download multimedia:http://www.prnewswire.com/news-releases/flagship-pioneering-expands-leadership-team-with-appointment-of-michael-t-nally-as-ceo-partner-301259416.htmlSOURCE Flagship Pioneering
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CAMBRIDGE, Mass., March 30, 2021 /PRNewswire/ -- Invaio Sciences, Inc., a Flagship Pioneering company focused on unlocking the potential of the planet's interdependent natural systems to solve pressing agriculture, nutrition and environmental challenges, announced today the appointment of Peleg Chevion as President and Chief Commercial Officer. Chevion, who joined the company in late 2020, will focus on accelerating the commercial activities of the company.
"Our goal at Invaio is to accelerate the transition in agriculture from a chemical-based industry to a biological-based industry that addresses the needs of farmers and society, while protecting the environment," said Ignacio Martinez, Co-Founder and CEO, Invaio. "The company is now transitioning from an R&D-focused organization to a full commercial enterprise."
Martinez continued, "Peleg has already made a significant impact at Invaio since he joined the company in late 2020. He brings a very unique set of experiences, commercial leadership, and an entrepreneurial mindset perfectly suited for the next phase of the company."
Prior to joining Invaio, Chevion was President and Chief Commercial Officer of Blendhub, a global leader in food and ingredients production. Before Blendhub, Peleg worked with Lindsey Goldberg, a leading global private equity firm based in New York. Chevion also worked for seven years as a senior executive at Syngenta where he started and then led the Abiotic Stress Management indication across the spectrum of chemical, biological, genetics and digital platforms. Prior to Syngenta, Chevion spent several years leading Business Development at Crucell before the company was acquired by J&J.
Chevion began his career as an officer in the Israeli Air Force, and later held diverse roles in the Israeli startup ecosystem. Chevion graduated from the IDF Computer Academy. He received an L.L.B from Tel Aviv University, an MBA from INSEAD and is a licensed attorney in Israel.
"Since joining Invaio last year, I have been impressed by the breakthrough platform technologies we are developing, our integrated solutions approach and the commercial traction of the company," said Peleg Chevion, President and Chief Commercial Officer, Invaio. "We are curing diseases like Greening in Citrus and Xylella in Olives, significantly reducing the use of chemicals with our precision delivery systems, and discovering biological products with consistent performance using proprietary Artificial Intelligence and Machine Learning technologies"
Chevion continues, "We are laser focused on developing unique solutions for our partner growers and other stakeholders in three segments: perennials, row crops and vegetable crops. We see the opportunity and have a sense of urgency to deliver."
About Invaio Sciences:
Invaio Sciences is a multi-platform technology company that unlocks the potential of the planet's interdependent systems to address pressing agricultural, nutritional, and environmental challenges. Founded by Flagship Pioneering in 2018, Invaio leverages discoveries from diverse fields including human therapeutics, agriculture, environmental science, and advanced manufacturing. The company's deep understanding of the physiology of insects, plants and trees, together with its novel integrated solutions approach, promises to refine agricultural practices and reduce the need for pesticides globally. Invaio Sciences is dedicated to developing solutions that are mindful of beneficial insects, bad for pests, and safer for us all. For more information, please visit www.invaio.comAbout Flagship Pioneering:
Flagship Pioneering conceives, creates, resources, and develops first-in-category life science platform companies to transform human health and sustainability. Since its launch in 2000, the firm has, through its Flagship Labs unit, applied its unique hypothesis-driven innovation process to originate and foster more than 100 scientific ventures, resulting in over $80 billion in aggregate value. To date, Flagship has deployed over $2.3 billion in capital toward the founding and growth of its pioneering companies alongside more than $19 billion of follow-on investments from other institutions. The current Flagship ecosystem comprises 41 transformative companies, including Axcella Health (NASDAQ:AXLA), Codiak BioSciences (NASDAQ:CDAK) Denali Therapeutics (NASDAQ:DNLI), Evelo Biosciences (NASDAQ:EVLO), Foghorn Therapeutics (NASDAQ:FHTX), Indigo Ag, Inari Agriculture, Kaleido Biosciences (NASDAQ:KLDO), Moderna (NASDAQ:MRNA), Rubius Therapeutics (NASDAQ:RUBY), Sana Biotechnology (NASDAQ:SANA), Seres Therapeutics (NASDAQ:MCRB), and Sigilon Therapeutics (NASDAQ:SGTX).
View original content to download multimedia:http://www.prnewswire.com/news-releases/invaio-sciences-strengthens-leadership-team-with-appointment-of-peleg-chevion-as-president-and-chief-commercial-officer-301258544.htmlSOURCE Invaio Sciences
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CAMBRIDGE, Mass., March 18, 2021 (GLOBE NEWSWIRE) -- Sigilon Therapeutics, Inc. (NASDAQ:SGTX), a biotechnology company that seeks to develop functional cures for chronic diseases through its Shielded Living Therapeutics™ platform, today reported financial results for the fourth quarter and full year ended December 31, 2020 as well as certain other business highlights.
"2020 was a transformational period for Sigilon marked by the achievement of numerous key regulatory, clinical, and financial milestones, which we believe have positioned us to deliver on our commitments over the next several years," commented Rogerio Vivaldi, M.D., Chief Executive Officer of Sigilon. "The modularity of our Shielded Living Therapeutics™ platform has enabled us to build a robust pipeline spanning a diverse range of chronic disorders, including rare blood, lysosomal and endocrine diseases. Notably, in 2020, our lead product candidate SIG-001 received IND and CTA clearance and we dosed the first patients in our Phase 1 /2 safety and dose-ranging study in severe to moderate-severe hemophilia A—a significant milestone for both our platform technology and the hemophilia community."
Continued Dr. Vivaldi: "While our immediate priority is developing SIG-001, looking ahead, we are also leveraging our platform to advance several additional candidates—including SIG-005 for MPS-1, SIG-007 for Fabry disease and SIG-002 for Type 1 Diabetes—into the clinic over the next two years. Having successfully completed an upsized Initial Public Offering in December, which attracted a breadth of healthcare specialists and long-term focused shareholders, we are well-positioned to execute across each of these initiatives as we work to provide functional cures for patients."
Recent Program Highlights • In the fourth quarter, the Company dosed the first two patients in its Phase 1/2 safety and dose-ranging study with SIG-001 in severe to moderate-severe hemophilia A. No serious adverse events have been reported. At the initial dose levels for this study, tested in the first two patients, the Company has observed FVIII activity levels in the low- to mid-single digits. • As dose levels increase, Sigilon initiated planned manufacturing changes in the first quarter of 2021 designed to, among other things, increase cell potency and enhance cell function. The Company has filed amendments to its CTA and IND for SIG-001 with the MHRA and FDA, respectively, to incorporate these changes. • In December 2020, the FDA granted Orphan Drug designation to SIG-005 for the treatment of mucopolysaccharidosis type I (MPS-1), a chronic, progressive lysosomal disease. • Four scientific abstracts outlining several ongoing preclinical studies in a range of lysosomal diseases were selected for presentation – including an oral presentation on mucopolysaccharidosis type II (MPS-2) – at the 17th Annual WORLDSymposium™. In all these preclinical studies, platform cells produced high levels of biochemically active enzyme having characteristics nearly identical to the enzyme replacement therapies. Significant reduction in substrates across tissues were observed. • In March 2021, the FDA granted Orphan Drug designation for SIG-007 for the treatment of Fabry disease, which is also a progressive, life-threatening lysosomal disease. Corporate Updates • In December 2020, the Company raised $144.9 million in gross proceeds from an initial public offering of 8,050,000 shares of common stock at a public offering price of $18.00 per share. • Devyn Smith, Ph.D., will step down as Chief Operating Officer of Sigilon, effective on April 26, 2021, to assume a CEO role within the biotech industry. Anticipated Milestones • The Company is planning to file a CTA and/or IND for MPS-1 in the second quarter of 2021 and anticipates additional regulatory filings before the end of 2022. • Phase 1/2 safety and dose-ranging study of SIG-001 in severe to moderate-severe hemophilia: • Sigilon expects to disclose up to 9 months of follow up data for 3-4 patients in the third quarter of 2021; and • Sigilon expects to complete enrollment of the study in the second half of 2021. Financial Results • Cash Position: Cash was $202.2 million as of December 31, 2020. • R&D Expenses: Research and development expenses were $14.3 million for the fourth quarter of 2020 compared to $15.0 million for the fourth quarter of 2019. For the full year of 2020, research and development expenses were $53.5 million compared to $48.1 million for the same period in 2019. The increase in research and development expenses as compared to the prior year period was related to increased costs associated with Sigilon's lead programs, increased costs associated with platform and pipeline development, an increase in personnel expenses costs due to headcount additions and an increase in stock-based compensation associated with stock option grants. • G&A Expenses: General and administrative expenses were $3.5 million for the fourth quarter of 2020 compared to $2.9 million for the fourth quarter of 2019. For the full year of 2020, general and administrative expenses were $12.5 million compared to $10.2 million for the same period in 2019. The increase in general and administrative expenses as compared to the prior year period was primarily driven by an increase in professional fees and insurance costs that are primarily due to the costs of operating as a public company, an increase in personnel related costs due to increased headcount and an increase in stock-based compensation associated with stock option grants. • Net Loss: Net loss was $15.2 million for the quarter ended December 31, 2020 compared to $14.7 million for the same period of 2019. For the full year 2020, Sigilon reported a net loss of $54.6 million, compared to a net loss of $43.9 million for the full year 2019. About Sigilon Therapeutics
Sigilon Therapeutics seeks to develop functional cures for chronic diseases through its Shielded Living Therapeutics™ platform. Sigilon's product candidates are non-viral engineered cell-based therapies designed to produce the crucial proteins, enzymes or factors needed by patients living with chronic diseases such as hemophilia, lysosomal disorders and diabetes. The engineered cells are protected by Sigilon's Afibromer™ biomaterials matrix, which shields them from immune rejection and fibrosis. Sigilon was founded by Flagship Pioneering in conjunction with Daniel Anderson, Ph.D., and Robert Langer, Sc.D., of the Massachusetts Institute of Technology.
Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters, including the effect of manufacturing changes on cell potency and cell function, the timing for the submission of INDs or CTAs for MPS-1 and other product candidates and the timing for patient enrollment and dosing, disclosure of data and the completion of our Phase 1/2 clinical study of SIG-001 in Hemophilia A. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, those related to our clinical and preclinical research, product candidates, the enrollment and timeline for our clinical trials and the regulatory filings related thereto, and the risks identified under the heading "Risk Factors" in our Prospectus filed with the Securities and Exchange Commission on December 7, 2020, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Sigilon Therapeutics, Inc.
Condensed Consolidated Balance Sheets
(in thousands, except share and per share amounts)
(Unaudited)December 31, 2020 2019 Assets Current assets: Cash $ 202,229 $ 76,069 Accounts receivable 177 136 Prepaid expenses and other current assets 1,729 732 Restricted cash—current 75 — Total current assets 204,210 76,937 Deferred offering costs — 65 Property and equipment, net 2,991 2,949 Right‑of‑use assets 16,731 9,851 Restricted cash 1,118 576 Total assets $ 225,050 $ 90,378 Liabilities, convertible preferred stock and stockholders' equity (deficit) Current liabilities: Accounts payable $ 1,988 $ 2,005 Accrued expenses and other current liabilities 7,892 5,852 Lease liabilities, current portion 5,361 3,378 Deferred revenue from related party, current portion 31,777 29,140 Total current liabilities 47,018 40,375 Deferred revenue from related party, net of current portion — 15,550 Lease liability, net of current portion 11,893 6,808 Long‑term debt, net of discount 19,807 14,868 Preferred stock warrant liability — 333 Other liabilities 176 — Total liabilities $ 78,894 $ 77,934 Commitments and contingencies Preferred stock, par value $0.001 per share; 25,000,000 and no shares authorized at December 31, 2020 and 2019, respectively; no shares issued and outstanding at December 31, 2020 and 2019 — — Convertible preferred stock (Series A, A‑1, A‑3 and B), par value $0.001 per share; no and 35,536,001 shares authorized at December 31, 2020 and 2019, respectively; no and 31,836,001 issued and outstanding at December 31, 2020 and 2019, respectively; liquidation preference of $0 and $90,461 at December 31, 2020 and 2019, respectively — 90,206 Stockholders' equity (deficit) Common stock, par value $0.001 per share; 175,000,000 and 60,000,000 shares authorized at December 31, 2020 and December 31, 2019, respectively; 31,464,989 and 5,221,628 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively 31 5 Additional paid‑in capital 282,053 3,553 Accumulated deficit (135,928 ) (81,320 ) Total stockholders' equity (deficit) 146,156 (77,762 ) Total liabilities, convertible preferred stock and stockholders' equity (deficit) $ 225,050 $ 90,378 Sigilon Therapeutics, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except share and per share amounts)
(Unaudited)Three Months Ended December 31, Year Ended December 31, 2020 2019 2020 2019 Revenue Collaboration revenue $ 3,756 $ 3,098 $ 13,374 $ 14,155 Operating expenses: Research and development 14,337 15,014 53,488 48,108 General and administrative 3,505 2,900 12,528 10,170 Total operating expenses 17,842 17,914 66,016 58,278 Loss from operations (14,086 ) (14,816 ) (52,642 ) (44,123 ) Other income (expense), net: Interest income 44 277 312 1,058 Interest expense (505 ) (188 ) (1,202 ) (650 ) Other expense (42 ) — (89 ) (6 ) Change in fair value of preferred stock warrant liability (600 ) (2 ) (644 ) (204 ) Loss on extinguishment of debt — — (343 ) — Total other income (expense), net (1,103 ) 87 (1,966 ) 198 Net loss and comprehensive loss $ (15,189 ) $ (14,729 ) $ (54,608 ) $ (43,925 ) Net loss per share attributable to common stockholders—basic and diluted $ (1.15 ) $ (3.17 ) $ (7.55 ) $ (10.74 ) Weighted average common stock outstanding—basic and diluted 13,230,224 4,642,290 7,229,626 4,090,691 Sigilon Therapeutics, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)Year Ended December 31, 2020 2019 Cash flows from operating activities: Net loss $ (54,608 ) $ (43,925 ) Adjustments to reconcile net loss to net cash (used in) provided by operating activities: Stock-based compensation expense 3,127 2,073 Deferred revenue (12,913 ) (13,172 ) Other non-cash expenses, net 5,293 2,668 Other changes in assets and liabilities (2,547 ) 2,282 Net cash used in operating activities (61,648 ) (50,074 ) Cash flows from investing activities: Purchase of property and equipment (972 ) (1,209 ) Net cash used in investing activities (972 ) (1,209 ) Cash flows from financing activities: Proceeds from issuance of common stock in connection with the initial public offering, net of underwriting discounts and commissions 132,527 (65 ) Proceeds from issuance of convertible preferred stock, including deemed dividend, net of issuance costs 51,723 53,136 Repayment of debt (15,000 ) (1,000 ) Proceeds from long term debt 19,788 11,000 Other financing activities, net 359 171 Net cash provided by financing activities 189,397 63,242 Net increase in cash and restricted cash 126,777 11,959 Cash and restricted cash at beginning of period 76,645 64,686 Cash and restricted cash at end of period $ 203,422 $ 76,645 Cash $ 202,229 $ 76,069 Restricted cash-current 75 — Restricted cash-non-current 1,118 576 Total cash and restricted cash $ 203,422 $ 76,645 SOURCE: Sigilon Therapeutics, Inc.
Investor Contacts
Glenn Reicin
Sigilon Therapeutics, Chief Financial Officer
[email protected]
646-696-4344Jennifer Porcelli
Solebury Trout
[email protected]
646-378-2962Media Contact
Amy Bonanno
Solebury Trout
[email protected]
914-450-0349