CureSYNGAP1
CureSYNGAP1
Donate

CURE SYNGAP1 joins biotech investors in CAMP4 Tx’s $100M Raise for ASO Program $CAMP #S10e182

CURE SYNGAP1 joins biotech investors in CAMP4 Tx’s $100M Raise for ASO Program #CAMP #S10e182 Wednesday, September 10, 2025. Week 37.

CAMP4 Press Release:
https://www.linkedin.com/posts/caleb-moore-4382704_syngap1-activity-7371545171047628800-zVqR/

Let me tell you a story:

  • EW Story, concern over viability of C4.
  • Easy to follow financials, Mrkt Cap and Net assets of ~$40M. Net income/EBITDA of -$12.6M in Q2.
  • Running Phase I / II trials and ramping up for Phase III, not cheap. They need more than they had and capital is hard to get in this market.
  • But here is the good part, the data is solid, the team is strong, and the SYNGAP1 Ecosystem is excited to have a first mover.
  • SRF was thrilled to be invited, not just because we believe in C4, but because we wanted to send a meaningful signal to other investors that we are working closely with C4 and are eager to support their success. I believe that our investment, while modest, sent that signal and helped this raise become oversubscribed.

The board worked hard on this one.

Now for hard questions:

  • Are we conflicted? No. We will transparently share info about all trials for products with good data. ( See #S10e172 for ASGCT Data https://www.youtube.com/watch?v=9xO1TcO1Eus )
  • Will other companies be upset? Unlikely. Stoke and Praxis are the only companies publicly working on SYNGAP1 that are close to this point and they are not worried about financial viability, but if they do want to do a raise for their SYNGAP1 program, they should certainly call us.
  • What will other companies think? Indeed we are de-risking the disease by showing that our kids are modifiable with ASOs which are the majority of the therapies in scope. This is a huge favor to others looking at this space.
  • Isn’t this taking a risk with our funds? Depends. But if it is, it’s a risk worth taking. Remember we are the smallest investor, we only committed up to $1M, so other professional biotech investors put in $99M.
  • What was the process? C4 came to us, we decided it was worth talking to the board who had multiple discussions but we said yes in less than a week and that was last week.

When is the trial? 2H26 Less than a year from now. With this financing, I am sure of it.

As I write this, the $CAMP stock closed up $0.80 or +40%. Which is solid. The market is starting to agree with the wise investors and SRF!

Yes we need a cure. https://www.linkedin.com/posts/curesyngap1_savekramerdavis-activity-7371607032807763968-PVfG/

See you Friday: Beacon of Hope September 12, 2025 – Boston, MA cureSYNGAP1.org/Beacon25

SOCIAL MATTERS

Episode 182 of #Syngap10 #CureSYNGAP1

#Advocate #PatientAdvocacy #UnmetNeed #SYNGAP1 #SynGAP #SynGAProMMiS

Below is a transcript from the video:

Mike Graglia

Hello, Syngap Land. My name is Michael Graglia. This is episode 182 of the Cure Syngap1 podcast. Today, Cure Syngap1 joined a bunch of biotech investors in helping CAMP4 Therapeutics raise $100 million for their ASO program. The press release went live today. Links in the show notes. Like it, comment on it, etc. Let me just blow through this press release and give you my thoughts. First paragraph, CAMP4 Therapeutics, a clinical-stage biopharmaceutical company developing pipeline of regulatory RNA targeting therapeutics designed to upregulate gene expression with the goal of restoring healthy protein levels to treat a broad range of genetic diseases. Today announced, it has entered into definitive securities purchase agreements with certain institutional and accredited investors. Up to $100 million in gross proceeds through a private placement. CAMP4 intends to use the net proceeds from the private placement. What’s the difference between gross and net? Investment bankers. They’re going to take a slice, just the way the world works. Net proceeds from the private placement to fund the preclinical, and lawyers too, preclinical and clinical development of its Syngap1 program, working capital, and general corporate purposes. They just raised $100 million. And the first thing on the list is their Syngap1 program. Very exciting. Quote: With this financing, we are well positioned to bring potential first-in-class treatment for Syngap1-related disorders into the clinics, says Josh Mantelbrim, President and Chief Executive Officer of CAMP4. The investment marks critical milestones as we continue our mission, I love the word mission, to developing potentially disease-modifying medicines. I don’t know why you say potentially, Josh? I don’t really get that. For patients with disorders marked by suboptimal gene expression. In English, we have a haploinsufficiency. Good copy, bad copy. This is a disease-modifying therapy. Make the good copy work harder. Make more Syngap. Very simple. I’m done with anti-epilepsy drugs, behavior drugs, sleep drugs, poop drugs, all the drugs. Give me something that’ll fix the damn problem. Disease-modifying therapy. That’s what— that’s the definition of disease-modifying therapy. Something that will fix the root cause of the problem. Last paragraph, the financing is being led by new investor Coastlands Capital, pardon me, and includes participation from additional new and existing investors, including Giannis Henderson, Belasney, Vivo Capital, 5AM Ventures, Adage Capital Management, Trails Edge Capital Partners, and the Syngap Research Fund. Yes, my friends, that’s right. The Syngap Research Fund was one of the investors in this. And I think that’s the story. I think that’s the story we as SRF need to talk about. And that’s the story other PAGs need to talk about. Pay attention. You know, I had a newly diagnosed parent call me a couple weeks ago, invites me out for breakfast. We have breakfast, and I’m thinking we’re going to talk about all the things I usually talk about. All this guy wanted to talk about, he had done his homework, was CAMP4. He’s like, Mike, I’m really worried about CAMP4. Like, I hadn’t figured this out. And he’s like, look. They’re a great company. I’ve read episode 172. I know what they’re doing. I want their technology in my kid, but I don’t think they’ve got enough money, Mike. What are we going to do? I had breakfast with this guy for an hour and a half, and all I could do was bite my tongue because I’m under more NDAs than I can count. And I’m like, dude, just relax about CAMP4. People are working on it. That’s all I could say. I didn’t say I’m working on it. I didn’t say we’re in the middle of a private placement. I didn’t say anything. I just said, ‘Can we please change the subject?’ He wouldn’t let it go. He was so worried about CAMP4’s financial viability. And he wasn’t wrong, right? If you look, if you go to the… Last quarter reports, they had a $40 million market cap and net assets. That doesn’t make sense. It doesn’t make sense that the company would only be worth what they’ve got in the bank. Indeed, sometimes they were worth less. It was crazy. But this is because the market was looking at them and saying, ‘You don’t have enough money to finish your SYNGAP1 clinical trial.’ Their net income, their EBITDA for Q2 of this year was negative $12 million. You got $40 million in the bank. You’re burning $12 million a quarter. You’re not going to make it to the second half of next year if you’re doing all these expensive studies and trials to prepare for a phase one, two for SYNGAP1. That’s what the market was saying to them. And the market wasn’t wrong. But here’s the good part. Here’s what the market was missing because the market’s not very smart. Their data was incredible. Go listen to episode 172 where I walk through their data shared at ASGCT. Their team is solid. I’ve talked to biotech companies all the time. I’m not saying they’re the best. Praxis has good people. Stoke has good people. Other people have good people. But CAMP4 has good people too. And I’ve met them and I knew they cared and I knew they were all in. And the Syngap1 ecosystem is primed, baby, primed. We are all here. The scientists, Dr. Ben Prosser and others, are all eager to see our kids get treated, right? The patient advocacy group, we are killing it, right? The patients, they are hungry. They know they need help. So the ecosystem was ready. We knew the data was good. We knew the people were good. We knew the ecosystem was ready. We knew there was reason to hold out hope for CAMP4. And we were thrilled to be invited. Not just because we believe in it, but because we were excited to send a meaningful signal to other investors that we are working with CAMP4 and we are eager to support their success. Here’s the punchline, guys. Investors… investors’ love language is money. Millions of dollars. Talk to me in millions of dollars, unless, of course, you can talk to me in billions of dollars. This is how these people think. And so, us raising our hands, being like, we love CAMP4. We’re going to fill a trial. Watch my podcast. They don’t care about any of that crap. But if you say to them, ‘we are poor parents and we give away one to two million dollars a year to help our kids, and we’re going to invest a million dollars in this company right now,’ that gets their attention. Now you’re speaking their love language. And I believe that our investment helped CAMP4 raise more money than they would have already. Personal opinion: someone should ask CAMP4 reporters and maybe get the story. But I’m telling you right now, the reason SRF invested is not just because we believe in CAMP4 and we’re excited to participate in this journey. But because we wanted to send a signal to the other investors who we desperately needed at the table that we believe in CAMP4, we are willing to work with them, and we’re putting our money where our mouth is. And for the donors and families of the Syngap Research Fund community, I want to remind you that the board worked like crazy on this. We got this offer a couple weeks ago, and we were basically around the clock for a while, talking about it, ramping up, debating, ‘Did we do this? We’ve never done this before,’ blah, blah, blah. It was exciting. So I want to thank the board publicly, and I want to tell all the families and donors to SRF, your board is full of very good people taking their role very seriously, and we came to the right decision together. Now, let me go through some frequently asked questions. I want to make sure this is less than 10 minutes. Are we conflicted about this? Now, do we love CAMP4 more than we love others? Absolutely not. We exist for the patient. We exist for the patient. We will transparently share as much information as we can about… Any products we see that have good data. Every clinical trial that happens, we will tell you about it. We will encourage you to consider it. We will ask you to go through the screening and we will give you anything you need to go and talk to your doctor about it. So are we conflicted to be Love CAMP4 more? No, no. Our love language is data that will get us closer to helping kids. Will other companies be upset? What if Stoke or Praxis get their feelings hurt? Have you met these people? Like, there are no people with easy-to-hurt feelings in biotech, right? These people are in one of the hardest businesses on earth. And frankly… None of them were in the same dire straits as CAMP4. Frankly, I think they’re gonna be excited about this. Why do I think they’d be excited about this? Because CAMP4 is closer than anybody else, right? Stoke just announced they’re going to have a named asset next year. Praxis has yet to name an asset. Guys, hurry up. Steve, Marcio, let’s go. I want more named assets. The only person who’s named an asset, who’s doing non-human primate studies, to my knowledge at this time, is CAMP4. So they are first. And that means that they will be running a trial first. And that means that they are closest to showing that you can put an ASO in a human with Syngap1-related disorder and reduce the burden of their disease. Reduce their symptoms. Make their lives easier. Make their families’ lives less crazy-making. Prove that a disease-modifying therapy works in SYNGAP1. And the minute that happens… Every other company with a disease-modifying therapy for SYNGAP1 will have more incentive to go faster. Frankly, I think Praxis and Stoke are like, ‘Yes, this is great.’ Now I’m going to be able to raise more money for our Syngap program. Now we’re going to be able to bring our technology to help these patients as well. And everybody, guys, is going with tip of the spear here, right? If CAMP4 can prove that they can work on SYNGAP1, then their program will work on other haploid insufficiencies. The tip of the spear for Stoke was Dravet, but they will scale up with SYNGAP1. Tip of the spear for Praxis, it’s kind of like the other sodium channelopathies, but now they’re showing that with Syngap, they’re going to show that they can go after synaptopathies. So I don’t think other companies are going to have their feelings hurt. I don’t think we’re conflicted. And I honestly think we’re de-risking Syngap by ensuring that CAMP4 gets drug in human as fast as possible. Are we taking a risk with our funds? I don’t think so for a second, frankly, right? Oh, but they were going to go bankrupt, right? But did you read the memo? They just raised $100 million. They’re not going to go bankrupt, right? So at this point, they’ve got a clear shot at proving this disease works and every piece of data we’ve seen, this drug works and every piece of data we’ve seen so far supports that hypothesis. But it’s still a risk, right? Things could go south. Things could blow up, whatever. Yes. Yes. And I have two answers to that. First of all, it’s a risk worth taking. Our mission is to get drugs in kids. And the company closest to doing that is CAMP4. I will do another podcast on why our strategy is to work with and count on companies to do what they do, which is develop drugs. And remember, we were a very modest part of this raise. We raised one of $100 million. That means very smart, professional biotech investors put in another $99 million. That’s a lot of cash, people. Investors don’t spend $99 million in this market unless they see data they believe. And so when CAMP4 came to us and asked us to participate in this, all day long. When is the trial? The trial is going to be per the press release, second half of 2026. That’s less than a year from now. With this financing, now I believe it. And as I write this, by the way, CAMP4 stock closed up 80 cents or plus 40% today. So yesterday it was at $199. Today it’s at $279. That’s a 40% gain. This is solid. This is the market starting to agree with the investors because we need a cure. I’m going to end. I can’t read it to you because I don’t have time. Read the last link in my show notes from Jackie Cancier about why we desperately need a cure. And then, for everybody who’s in Boston, big party on Friday night. Couldn’t have planned it better. Didn’t plan it this way, but I’ll see you on Friday. Let’s celebrate. Congratulations, CAMP4. Congratulations, SRF. This is a great day for Syngap.