Padlock raises $23M series A

Padlock Therapeutics Inc. (Cambridge, Mass.) secured $23 million in a tranched series A round led by Atlas Venture. Johnson & Johnson Development Corp. (JJDC), MS Ventures, and Index Ventures also participated. Padlock is developing a pipeline of small molecule inhibitors of peptidyl arginine deiminase ( PADI; PAD) enzymes for rheumatoid arthritis (RA), systemic lupus erythematosus (SLE) and multiple sclerosis (MS).

PAD enzymes play a role in generating citrullinated protein antigens and other autoantigens and proinflammatory mediators of autoimmune diseases. Atlas' Michael Gilman, who is co-founder and CEO of Padlock, said the compounds could be complementary to immunomodulators. Gilman said the discovery-stage company is aiming to have at least one IND for a program in two to three years. ...