Secretome Therapeutics

What Secretome Therapeutics does

Secretome Therapeutics, Inc. is a privately held, clinical-stage biotechnology company developing investigational therapies from neonatal cardiac progenitor cells (nCPCs) and their secretome. Founded around 2018 and headquartered in Plano/Dallas, Texas, the company is led by Co-founder, President and CEO Vinny Jindal, with co-founder Dr. Sunjay Kaushal (MD/PhD) on the Board and Henrik Rasmussen (MD/PhD) as Board Chair. The lead candidate STM-01 is an allogeneic nCPC therapy in clinical development for heart failure with preserved ejection fraction (HFpEF), dilated cardiomyopathy (DCM), and Duchenne muscular dystrophy-associated cardiomyopathy (DMD-CM); the Phase 1 DCM trial commenced in October 2025 with a Phase 1 DMD-CM program (THRIVE 2) running in parallel, Phase 2 expected in Q2 2026, and Phase 3 targeted for early 2027. STM-01 received FDA Fast Track designation in 2025. The platform also yields a cell-free secretome/exosome program (STM-21) and a next-generation engineered-cell program (STM-03), plus pipeline candidates STM-04 and STM-05.

The company's core differentiator is its neonatal sourcing model — cells are obtained from cardiac tissue of full-term neonates undergoing medically necessary surgery for congenital heart defects — which it reports yields near-zero donor variability, approximately 10x higher cell yield per donor, and approximately 3x higher regenerative potency than adult-derived stem cells in peer-reviewed studies, while avoiding the ethical issues associated with fetal or embryonic sources. Manufacturing and translational operations are consolidated in Dallas at BioLabs at Pegasus Park, with 10-15 scientists being relocated from Chicago. The scientific founding team (Dr. Kaushal, Dr. Rachana Mishra, Dr. Muthukumar Gunasekaran) and an operating team with prior INDs, NDA, and BLA experience support clinical, regulatory, and CMC execution.

The business model is that of a pre-revenue clinical-stage biotech: operations are funded through equity (a $30 million Series A led by RA Capital Management in May 2026, following a 2024 $1.8M HEST SPV and a February 2023 SEC-exempt offering of $6.85M) and non-dilutive grants ($250K PPMD venture-philanthropy in 2026 and an undisclosed Marcus Foundation grant funding the Phase 1 DCM trial). Distribution is restricted to clinical trial administration, including the home-dosed THRIVE 2 Study in DMD-CM, with no commercial pricing, no expanded access program, and no public reimbursement footprint today. Future revenue, if approved, would come from commercialization of STM-01 and platform derivatives, with potential supplementary licensing and royalty economics.

Name

Secretome Therapeutics

Legal name

Secretome Therapeutics, Inc.

Website

https://secretometherapeutics.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Secretome Therapeutics is a clinical-stage biotechnology company developing investigational therapies from neonatal cardiac progenitor cells (nCPCs) and their secretome, with lead candidate STM-01 advancing through Phase 1-3 trials in Duchenne muscular dystrophy-associated cardiomyopathy, dilated cardiomyopathy, and heart failure with preserved ejection fraction.

Ownership category

akta.pro rank

Product category

Regenerative Cell Therapy

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Recombinant Protein Therapeutics (enzymes, hormones, growth factors) (HLAAAAAB)

akta.pro secondary industries

Rare Pediatric & Congenital Disorder Therapies (HLAIAIAN), Cardiac Assist & Heart Failure Therapies (Implantables, Neuromodulation) (HLAHAFAL)

Keywords

• Regenerative cell therapy
• Cardiac cell therapy
• Neonatal progenitor cells
• Rare disease therapeutics
• Cell therapy pipeline

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Pre-revenue clinical-stage development: Secretome Therapeutics is a clinical-stage biotechnology company with no commercial product revenue. Operations are funded through equity financings (e.g., $30 million Series A led by RA Capital Management) and non-dilutive funding (e.g., $250,000 PPMD venture-philanthropy grant, $1.8 million HEST Investments SPV, The Marcus Foundation Phase 1 trial grant). Future revenue, if products are approved, would be generated through commercialization of STM-01 and related cell therapies and secretome-based products.

Go-to-market motion3 records

Distribution channels2 records

Marketing channels5 records

Core offering

Secretome Therapeutics is a clinical-stage biotechnology company developing investigational therapies derived from neonatal cardiac progenitor cells (nCPCs) and their secretome. Its lead candidate, STM-01, is being advanced through clinical trials for Duchenne muscular dystrophy-associated cardiomyopathy (DMD-CM), heart failure with preserved ejection fraction (HFpEF), and dilated cardiomyopathy (DCM). The pipeline extends into a cell-free secretome/exosome program (STM-21) and a next-generation engineered-cell program (STM-03), with additional candidates STM-04 and STM-05.

Product overview

Secretome Therapeutics is a clinical-stage biotechnology company developing a platform-plus-modules architecture of investigational therapies derived from neonatal cardiac progenitor cell (nCPC) and stromal cell biology. The platform centers on STM-01, a neonatal cardiac progenitor cell therapy in clinical development for heart failure with preserved ejection fraction (HFpEF), dilated cardiomyopathy (DCM), and Duchenne muscular dystrophy-associated cardiomyopathy (DMD-CM). Building on STM-01's secretome and paracrine biology, STM-21 is a cell-free program based on STM-01 components including extracellular vesicles/exosomes, while STM-03 is a next-generation engineered-cell program. STM-04 and STM-05 appear as additional pipeline candidates. The lead clinical program, THRIVE 2, is evaluating STM-01 in pediatric and adult patients with DMD-CM.

Differentiator

Problem solved

Functional benefit

Products and services

• STM-01 Investigational neonatal cardiac progenitor cell (nCPC) therapy in clinical development for heart failure with preserved ejection fraction (HFpEF), dilated cardiomyopathy (DCM), and Duchenne muscular dystrophy-associated cardiomyopathy (DMD-CM). Cells are sourced from neonatal cardiac tissue during medically necessary surgeries in full-term newborns treated for congenital heart defects, and the product has received FDA Fast Track designation (2025).
• STM-21 Cell-free program based on components of the STM-01 secretome, including extracellular vesicles/exosomes, with the goal of translating key paracrine biology into a product candidate. STM-21 is associated with immunomodulatory activity and represents the company's diversification into cell-free therapeutic modalities.
• STM-03 Next-generation engineered-cell program under development by Secretome Therapeutics for cardiac and other serious conditions, building on the nCPC platform biology.
• STM-04 Pipeline product candidate referenced in the company's clinical pipeline.
• STM-05 Pipeline product candidate referenced in the company's clinical pipeline.

Quantifiable outcome

• ~0% donor variability
• +4 more outcomes

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

One partnership is on record.

• DMD patient advocacy organizations (Parent Project Muscular Dystrophy, MDA, Cure Duchenne, Charley's Fund, Charlie's Cure, Team Joseph, Best Day Ever, K-MD, Little Hercules)coreGTM or Marketing PartnerSecretome Therapeutics partners with leading Duchenne muscular dystrophy patient advocacy organizations, featured as 'Resources for Families' on the company website. These partnerships support the broader DMD community, help families access information, and facilitate recruitment for the THRIVE 2 Study of STM-01 in DMD-cardiomyopathy patients.

Scale indicators9 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Capricor Therapeutics: Late-stage clinical biotech developing cell-based therapies (deramiocel/CAP-1002) for Duchenne muscular dystrophy-associated cardiomyopathy. Most direct competitor to STM-01 in the same patient population, same indication, and similar modality (allogeneic cell therapy).
• Mesoblast: Cell therapy company developing allogeneic mesenchymal stem cell therapies for inflammatory and cardiovascular diseases, including heart failure. Comparable in modality (allogeneic cell therapy) and target indications (cardiac).
• Athersys: Clinical-stage cell therapy company developing MultiStem for cardiovascular, inflammatory, and neurological indications. Comparable as an allogeneic, off-the-shelf cell therapy developer in cardiac and rare disease indications.

Emerging players

• BlueRock Therapeutics: Bayer subsidiary developing engineered cell therapies (including iPSC-derived cardiomyocytes) for cardiovascular disease and other serious conditions. Comparable in cell therapy modality for heart failure and the use of engineered-cell approaches overlapping with Secretome's STM-03 program.
• Pluristem Therapeutics: Cell therapy company using placenta-derived mesenchymal-like adherent stromal cells for cardiovascular and inflammatory indications. Comparable as an allogeneic cell therapy developer in cardiac indications, though using a different cell source.
• Cynata Therapeutics: Clinical-stage stem cell company developing iPSC-derived mesenchymal stem cell therapies for inflammatory and cardiovascular diseases. Comparable as a stem-cell-based therapy developer pursuing cardiac indications with an allogeneic, scalable manufacturing approach.

Broad incumbents

• Reata Pharmaceuticals: Acquired by Biogen; commercialized Skyclarys (omaveloxolone) for Friedreich's ataxia and developed therapies for rare diseases. Comparable as a rare-disease biotech with overlapping personnel (Vinny Jindal and Shannon Rich prior roles) but operates as a broader rare-disease commercial-stage company, not a direct cell therapy competitor.
• Atara Biotherapeutics: Allogeneic T-cell and cell therapy company developing off-the-shelf cellular therapies for serious conditions. Comparable in allogeneic cell therapy modality and clinical-stage biotech operating model; several Secretome executives (Smith, Masten) previously worked there.
• Vertex Pharmaceuticals: Large-cap biotech with a cell and gene therapy franchise (Casgevy for sickle cell disease/beta-thalassemia) and a broad rare disease portfolio. Comparable as a developer of approved cell-based therapies for serious conditions; broader and more diversified than Secretome.
• Bristol Myers Squibb (Juno Therapeutics): Global pharmaceutical company with a major cell therapy franchise through Juno Therapeutics (Breyanzi, Abecma). Comparable as a commercial-stage cell therapy developer with comparable manufacturing and clinical expertise; Jeff Masten previously held operational roles there.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/NeoProgen
• LinkedInlinkedin.com/company/secretometx

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds6 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Secretome Therapeutics