Castle Creek Biosciences, a Phase 3 biotech developing cell-based gene therapies for rare diseases, withdrew its plans for an initial public offering on Monday. It originally filed in July 2021 with a proposed deal size of $100 million.
Castle Creek is focused on developing and commercializing disease-modifying therapies for patients suffering from rare diseases. Its proprietary autologous fibroblast platform serves as the foundation for developing personalized, targeted, and redosable cell-based gene therapy candidates for both monogenic and chronic disorders. Its most advanced candidate is currently in a Phase 3 trial for recessive dystrophic epidermolysis bullosa, with topline data expected in the 2H22. The company also plans to initiate a Phase 3 trial of the candidate for dominant dystrophic epidermolysis bullosa in the 2H21.
The Exton, PA-based company was founded in 2015 and had planned to list on the Nasdaq under the symbol CCBS. Citi, Piper Sandler, Barclays, and Canaccord Genuity were set to be the joint bookrunners on the deal.
