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Omega Therapeutics, Inc. (Nasdaq: OMGA) is a clinical-stage biotechnology company revolutionizing medicine through its innovative approach to genomic control. Founded in 2017 by Flagship Pioneering, Omega leverages its proprietary OMEGA platform to develop programmable epigenomic mRNA medicines, aimed at treating and curing a broad range of diseases without altering native nucleic acid sequences.
Omega's core business revolves around the discovery and development of precision therapeutics that selectively direct and control genomic expression pre-transcriptionally. This novel approach allows the company to target nearly all human genes, including those that have been historically undruggable and difficult-to-treat.
The company’s pipeline includes therapeutic candidates for a variety of disease areas such as oncology, rare genetic diseases, immunology, inflammation, metabolic diseases, and regenerative medicine. One of the highlights of Omega’s innovative work includes the development of Omega Epigenomic Controllers, which have shown promising preclinical results, such as the modulation of immune activity to produce significant anti-inflammatory responses.
Recent achievements include the presentation of new preclinical data at the 11th International mRNA Health Conference in Berlin and the American Association for the Study of Liver Diseases' (AASLD) The Liver Meeting® 2023. These data demonstrated Omega’s ability to control the expression of multiple genes simultaneously, showcasing the platform's potential beyond individual diseases.
Financially, Omega Therapeutics reported a cash reserve of $60.0 million as of March 31, 2024, anticipating this will fund operations into Q1 2025. Their recent strategic prioritization aims to extend their cash runway while focusing resources on near-term milestones to support long-term shareholder value.
For more information, visit omegatherapeutics.com, or follow Omega Therapeutics on X (formerly Twitter) and LinkedIn.
Omega Therapeutics (Nasdaq: OMGA) has appointed Dr. Yan Moore as Chief Medical Officer, effective January 10, 2022. Dr. Moore brings extensive experience in oncology and drug development from previous roles at Ipsen Pharmaceuticals and Anchiano Therapeutics. CEO Mahesh Karande expressed confidence in Dr. Moore's ability to advance the company’s OMEGA Epigenomic Programming platform, particularly its lead program OTX-2002 for hepatocellular carcinoma. This leadership change is vital as Omega transitions into clinical stages and aims to expand its innovative pipeline of mRNA-based therapies.
Omega Therapeutics, a biotechnology company, announced participation in the Piper Sandler 33rd Annual Virtual Healthcare Conference from November 29 to December 2, 2021. Executives including Mahesh Karande, Roger Sawhney, and Thomas McCauley will engage in a fireside chat, with the recording available on their website starting November 22 at 10:00 a.m. ET. Omega focuses on mRNA therapeutics to develop programmable epigenetic medicines through its OMEGA Epigenomic Programming platform, aimed at correcting gene expression related to various diseases.
Generate Biomedicines has raised $370 million in a Series B financing to enhance its machine learning-powered Generative Biology platform, aimed at drug development across various protein modalities. This funding will facilitate technology evolution, organizational scaling from 80 to 500 employees, and the establishment of new facilities for computational biology and data generation. The company plans to advance several preclinical programs by year-end 2023, showcasing its pioneering efforts in programmable biotherapeutics.
Omega Therapeutics (Nasdaq: OMGA) reported its third quarter financial results for 2021, marked by a significant net loss of $18.5 million, compared to $8.2 million in Q3 2020. The company's cash and equivalents stood at $234.3 million as of September 30, 2021, bolstered by a successful IPO raising $141.1 million. Key advancements include the ongoing IND-enabling studies for its lead candidate OTX-2002 targeting hepatocellular carcinoma. Omega has expanded its pipeline with new collaborations, focusing on conditions like acute respiratory distress syndrome and liver disease.
Omega Therapeutics (Nasdaq: OMGA), a biotechnology company focused on mRNA therapeutics, announced that CEO Mahesh Karande and CSO Thomas McCauley will present at the Jefferies London Healthcare Conference on November 17, 2021, at 8:00 a.m. GMT. The live webcast will be available on their website, with an archived replay accessible for 90 days. Omega is advancing its OMEGA Epigenomic Programming™ platform, targeting disease treatment through programmable mRNA-encoded medicines. The company aims to address various diseases including oncology and multigenic disorders.
Tessera Therapeutics has announced a collaboration with the Cystic Fibrosis Foundation to utilize its Gene Writing technology for developing treatments for cystic fibrosis. This innovative technology aims to correct genetic mutations causing the disease, which affects around 70,000 people worldwide. The partnership seeks to advance Gene Writers capable of making specific genetic corrections and introducing a functional CFTR gene, targeting a major mutation responsible for 70% of cases. This collaboration may pave the way for groundbreaking therapies in cystic fibrosis treatment.
Omega Therapeutics (Nasdaq: OMGA) announced a strategic collaboration with Stanford University School of Medicine to explore therapeutic potential of its OMEGA Epigenomic Programming™ platform in ocular diseases. This partnership aims to identify novel ocular targets for Omega Epigenomic Controllers (OECs) through research led by Dr. Albert Wu and other ophthalmology experts. CEO Mahesh Karande stated this collaboration expands their reach in regenerative medicine and inflammation. Financial terms remain undisclosed.
Omega Therapeutics, a pioneering biotechnology company, will feature its President and CEO, Mahesh Karande, in a fireside chat at the Chardan Virtual 5th Annual Genetic Medicines Conference on October 4, 2021, at 8:30 a.m. ET. The event will showcase Omega's innovative OMEGA Epigenomic Programming™ platform, which uses mRNA therapeutics to correct gene expression and address various diseases, including oncology and immunology. Interested investors can access the live webcast on Omega's website, with a replay available for 90 days.
Omega Therapeutics (Nasdaq: OMGA) reported its second-quarter financial results for 2021, highlighting a net loss of $15.4 million, compared to $6.3 million in Q2 2020. The company raised $141.1 million through its IPO and is focused on advancing its lead candidate, OTX-2002, for hepatocellular carcinoma. As of June 30, 2021, Omega had cash and cash equivalents of $122.4 million. R&D expenses increased to $11.2 million, reflecting its commitment to product development. The company plans to file an IND for OTX-2002 in early 2022 and continue expanding its OMEGA Epigenomic Programming platform.
Omega Therapeutics (Nasdaq: OMGA) announced the pricing of its initial public offering (IPO) at $17.00 per share, with a total of 7,400,000 shares available. The IPO is expected to generate approximately $125.8 million in gross proceeds. Trading on Nasdaq is set to begin on July 30, 2021, with the offering closing on August 3, 2021, pending customary conditions. The underwriters have a 30-day option to purchase an additional 1,110,000 shares. Goldman Sachs, Jefferies, and Piper Sandler lead the offering process.
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