Secretome Therapeutics, a Baltimore-based biotechnology company advancing therapies derived from neonatal cardiac progenitor cells, has closed a $20.4 million round of financing that will enable it to initiate clinical trials for its lead asset, STM-01, and further advance its innovative pipeline.
Secretome is headquartered in Baltimore, Maryland, with a presence at BioLabs at Pegasus Park in Dallas and offices in Plano and Chicago.
“We’re grateful to have investors who share our vision and whose support enables Secretome to become a world-class drug development company,” Vinny Jindal, co-founder, president, and CEO of Secretome, said in a statement. “Stem cells have shown extraordinary therapeutic potential, but challenges that include manufacturing inconsistencies have limited their broader application. Our neonatal CPC platform delivers unmatched consistency and potency, positioning Secretome to become a clear leader in this emerging area of medicine.”
The company said the capital raised in this round will support operations through mid-2026 and fund key initiatives, including:
- Clinical Trials: Launching two Phase 1 trials of STM-01 in HFpEF (heart failure with preserved ejection fraction) and DCM (dilated cardiomyopathy), with proof-of-concept data expected in Q3 2025.
- Manufacturing Scale-Up: Transitioning STM-01 manufacturing to 3-dimensional bioreactor technology.
- Pipeline Development: Advancing STM-21 and other preclinical programs to address inflammatory conditions.
- Regulatory Engagement: Defining the regulatory pathway for STM-01 in orphan indications.
- Intellectual Property: Submitting patents on next-generation cell and Secretome products following the issuance of composition patents for STM-01 and STM-21.
- Advancing STM-01 into Clinical Development
Upcoming clinical trials
Secretome said it plans to initiate two multiple-ascending dose Phase 1 trials of STM-01 by the end of this year.
The first trial, led by Dr. Sanjiv Shah, founder of the world’s first dedicated clinical program for HFpEF at Northwestern University Feinberg School of Medicine, will evaluate STM-01 in patients with HFpEF.
The second trial, an investigator-sponsored study led by Dr. Arshed Quyyumi, co-director of Emory University’s Clinical Cardiovascular Research Institute, will study STM-01 in patients with non-ischemic DCM.
In September, Dallas-based venture capital family office HEST Investments announced its successful Special Purpose Vehicle (SPV) of a $1.8 million investment in Secretome Therapeutics.
HEST said the investment marks “a significant milestone in its ongoing commitment to advancing first-in-class leaders in the biotech market.” The VC family office is known for its focus on innovative and bleeding edge ventures, which refers to technology that’s further ahead than cutting-edge or leading-edge technology.
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Baltimore-based Secretome has a presence at BioLabs at Pegasus Park in Dallas. The biotech company is at the forefront of developing "revolutionary solutions" aimed at harnessing the power of secretomes, naturally occurring molecules that promote healing and regeneration, HEST said.
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