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OMEGA ™ THERAPEUTICS Omega Therapeutics Reports Second Quarter 2021 Financial Results and Outlines Key Corporate Objectives September 10 , 2021 - Strong Balance Sheet to Fund Pipeline of Omega Epigenomic Controllers ™ with $ 122.4 Million in Cash and Cash Equivelents as of June 30 , 2021 and additional $ 141.1 Million in Gross Proceeds from the Initial Public Offering in the Third Quarter 2021 - IND Submission for Lead Program , OTX - 2002 , for the Treatment of Hepatocellular Carcinoma , Remains on Track for First Half of 2022 CAMBRIDGE , Mass . , Sept. 10 , 2021 / PRNewswire / -- Omega Therapeutics , Inc. ( Nasdaq : OMGA ) ( " Omega " ) , a development - stage biotechnology company pioneering the first systematic approach to use mRNA therapeutics as programmable epigenetic medicines by leveraging its OMEGA Epigenomic Programing TM platform , today announced financial results for the second quarter ended June 30 , 2021 . " Our recent successful initial public offering ( IPO ) reinforces our commitment to bring potentially transformative programmable mRNA therapeutics that target the epigenetic basis of disease to precisely control gene expression to patients across a wide range of diseases . We are thrilled to bring in new investors through our IPO and to have the continued support of our existing stockholders , " said Mahesh Karande , President and Chief Executive Officer of Omega Therapeutics . " The funding provides the necessary financial resources to advance our lead Omega Epigenomic Controller ( OEC ) candidate , OTX - 2002 , for the treatment of Hepatocellular Carcinoma through an Investigational New Drug ( IND ) filing and initial clinical readouts , as well as to continue pre - clinical and IND - enabling studies for several additional OEC development candidates . " Recent Business Highlights and Corporate Update Financial and Corporate • In August 2021 , Omega completed a successful IPO , including shares sold pursuant to the partial exercise of the underwriters ' option to purchase additional shares , raising $ 141.1 million in aggregate gross proceeds , before deducting underwriting discounts and commissions and estimated offering expenses , and listed on The Nasdaq Global Select Market . The IPO followed the closing of a Series C crossover financing of $ 126 million in gross proceeds in March 2021 . • In May 2021 , Luke Beshar was appointed to the Omega Board of Directors and currently serves as the Chair of the Audit Committee . Mr. Beshar is an industry and corporate finance veteran who currently serves on the Board of Directors of Trillium Therapeutics and Protara Therapeutics , and most recently served as Executive Vice President and Chief Financial Officer at NPS Pharmaceuticals , Inc. , through its acquisition by Shire PLC . • In March 2021 , Elliott M. Levy , M.D. , was appointed to the Omega Board of Directors and currently serves on the Nominating and Corporate Governance Committee . Dr. Levy is an industry veteran with over 20 years of senior leadership roles in research and development at global pharmaceutical companies , including Amgen and Bristol - Myers Squibb . Development Pipeline and Platform • OTX - 2002 : IND - enabling studies are ongoing for Omega's lead OEC candidate OTX - 2002 , a novel , engineered , and programmable mRNA therapeutic being developed for the downregulation of c - Myc oncogene expression in patients with hepatocellular carcinoma . In preclinical studies , OTX - 2002 demonstrated its ability to potently down - regulate c - Myc oncogene expression . The Company continues to be on track to file an IND for OTX - 2002 in the first half of 2022 . • OMEGA Epigenomic Programming Platform : Omega is creating a new generation of programmable mRNA therapeutics , one that is designed to enable control of fundamental epigenetic processes to correct the root cause of disease by returning aberrant gene expression to a normal range without altering native nucleic acid sequences . Omega has developed a highly rational and deterministic approach to drug design that enables the Company to rapidly develop and optimize novel OECs engineered for highly specific targeting and controlled tunability and durability of gene expression . Omega is advancing multiple pre - clinical development programs in regenerative medicine , multigenic diseases including immunology , oncology and select monogenic diseases . Milestones and Key Priorities • Complete IND - enabling studies for OTX - 2002 and successfully file IND application to FDA during the first half of 2022 .