Merck and Johnson & Johnson have provided backing for the Atlas Venture-incubated company, which is developing treatments for autoimmune diseases.
Padlock Therapeutics, a US-based biotechnology company backed by pharmaceutical firms Johnson & Johnson and Merck, has secured $23m in series A funding.
Venture capital firm Atlas Venture led the round, which was also backed by MS Ventures, the corporate venturing unit of Merck’s prescription medicines division, as well as Johnson & Johnson’s corporate venturing subsidiary Johnson & Johnson Development Corporation, and VC firm Index Ventures.
Founded in January this year and incubated in Atlas Venture’s seed programme, Padlock is developing…
