- Founded: 2020
- Ceased Operations: 2023
What did Intergalactic Therapeutics do?
Intergalactic Therapeutics was a gene therapy startup founded by ATP (Apple Tree Partners), a leading life sciences venture capital firm. The company aimed to overcome the limitations of viral-based gene therapies by advancing non-viral gene therapies with two proprietary technologies: C3DNA, a versatile non-viral cargo platform, and COMET, a pulsed electric field focal gene therapy delivery system. Intergalactic Therapeutics focused its technology platforms on ophthalmology, oncology, and respiratory diseases, with potential applications in cardiology, hepatology, CNS, and musculoskeletal disorders.
Intergalactic Therapeutics raised a total of $75 million in funding over two rounds in 2021.
Who started Intergalactic Therapeutics?
Founder Michael Ehlers
Why did they go out of business?
The reason for Intergalactic Therapeutics’ closure was unclear, and the company did not release any official statement regarding the shutdown. However, the biotech industry had seen a wave of layoffs in 2023, reminiscent of the previous year. The biotech sector had not experienced the same level of impact as the tech industry, but the closure of Intergalactic Therapeutics added to the growing list of companies that were tightening their belts and cutting staff.
The closure of Intergalactic Therapeutics and the resulting layoffs reflected the ongoing challenges and transformations within the biotech industry in 2023.