Market Overview

UF Innovate | Sid Martin Biotech Resident Company Lacerta Therapeutics, Inc. Closes On $30 million Investment Round


Innovate | Sid Martin Biotech
, the leading biotechnology incubator
at the University of Florida, announces resident company Lacerta
Therapeutics, Inc
., has closed on a $30 million investment round.
Lacerta is a clinical-stage gene therapy company using a constellation
of proprietary adeno-associated virus (AAV) vector technologies to
develop treatments for central nervous system and lysosomal storage
diseases. Sarepta Therapeutics (NASDAQ:SRPT), a commercial-stage
biopharmaceutical company focused on the discovery and development of
precision genetic medicine, has made a $30 million equity investment in
Lacerta Therapeutics, gaining rights to multiple CNS-targeted gene
therapy programs. Lacerta will use the new funding to advance the
company's clinical pipeline.

This press release features multimedia. View the full release here:

Joseph Reddy, Ph.D., President and Chief Executive Officer, Lacerta
Therapeutics, said, "This investment is further validation of our
technologies and business model. It has also been facilitated by being a
resident company at Sid Martin Biotech. I joined the company a little
over a year ago and immediately decided to establish laboratory
operations at Sid Martin. Unquestionably, without the support of the
incubator's staff and startup programs, closing this investment round
would have been more difficult to accomplish in such a short time frame."

Kenneth Warrington, Ph.D., Chief Technology Officer, Lacerta
Therapeutics, added, "The investment round is another example of how the
entrepreneurial spirited environment, staff and facilities at Sid Martin
have helped with our fundraising. Our residency here supported a
previously awarded $2.3M Fast-track Phase I&II STTR from the National
Cancer Institute."

"We are here to assist companies in growing their bioscience enterprise,
whether it's therapeutic, diagnostics, medical device, ag-bio, clean
energy and/or biopharma. We've been making growth happen in North
Central Florida for over 23 years and are proud to be a part of this
exciting Lacerta news," states Merrie Shaw, Assistant Director of UF
Innovate Sid Martin.

"Lacerta is a progressive gene therapy platform company formed from UF
technology, and this partnership demonstrates the tremendous potential
of companies housed at the UF Innovate | Sid Martin Biotech Incubator,"
said Mark S. Long, Director of Incubation Services at the University of
Florida. "Our resident clients are leaders in their industries and are
sought after as solid investment candidates."

About Lacerta Therapeutics

Lacerta Therapeutics is a clinical-stage gene therapy company using a
constellation of proprietary adeno- associated virus (AAV) vector
technologies to develop treatments for central nervous system and
lysosomal storage diseases. A resident company of UF Innovate | Sid
Martin Biotech, the company is advancing clinical programs using
proprietary capsid variants and a scalable vector manufacturing
platform. Lacerta is currently focused on gene therapy solutions for
Pompe Disease, Sanfilippo Syndrome Type B, Aromatic L-amino acid
decarboxylase deficiency, Neurodegenerative Proteinopathies,
Spinocerebellar Ataxias and Glioblastoma. For more information, visit Lacerta

About UF Innovate | Sid Martin Biotech

UF Innovate | Sid Martin Biotech is the leading biotechnology incubator
headquartered at the University of Florida in Alachua, Florida at
Progress Park. Sid Martin has been honored with national and
international awards for incubator excellence and achievements in
technology commercialization, funding access, job creation and
technology-based economic development. It is dedicated to mentoring and
accelerating the growth of innovative early-stage bioscience and
biotechnology companies and supporting the economic growth of the North
Central Florida region. For more information, visit Sid
Martin Biotech

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