Frequency raises $62M to fund Phase II of hearing loss therapy

Days after a deal with Astellas for FX-322, Frequency has raised a $62 million series C round led by Perceptive Advisors that will help fund a Phase IIa trial of the regenerative therapy for hearing loss and enable the company to explore other therapeutic areas such as multiple sclerosis with its platform.

New investors Deerfield Management, RTW Investments and Mizuho Securities Principal Investment participated in the round by Frequency Therapeutics Inc. (Woburn, Mass.), as did existing investors Polaris Founders Capital, Taiwania Capital Management, Axil Capital and CoBro Ventures...