Paragon Biosciences-backed Castle Creek Biosciences completed the acquisition of Novavita Thera.

Paragon Biosciences-backed Castle Creek Biosciences, a late-clinical stage cell and gene therapy company, completed the acquisition of Novavita Thera, a preclinical gene therapy company. Financial terms were not disclosed. “This acquisition is a significant inflection point for Castle Creek and positions us to expand our research and development efforts using a versatile, dual technology platform that will accelerate the discovery of disease-modifying and potentially curative therapies for people living with rare diseases. The ability to leverage both ex vivo and in vivo based approaches is a distinct advantage that few cell and gene therapy companies can offer. We are now in position to pursue new indications for devastating rare diseases, while also advancing our ongoing pivotal clinical trial in recessive dystrophic epidermolysis bullosa,” Matthew Gantz, Castle Creek Biosciences President and Chief Executive Officer.