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OMEGA ™ THERAPEUTICS Omega Therapeutics Reports Third Quarter 2021 Financial Results and Outlines Key Corporate Objectives November 10 , 2021 -OTX - 2002 , the Company's Lead Program Targeting c - MYC for the Treatment of Hepatocellular Carcinoma , is Currently Advancing Through IND - Enabling Studies ; Good Progress Across Broad Pipeline -Established Strategic Collaboration with Stanford University School of Medicine for Potential Future Omega Epigenomic Controller ™ Development Candidates to Further Diversify Pipeline -Strong Balance Sheet to Fund Pipeline of Omega Epigenomic Controllers with $ 234.3 Million in Cash and Cash Equivalents as of September 30 , 2021 CAMBRIDGE , Mass . , Nov. 10 , 2021 / PRNewswire / -- Omega Therapeutics , Inc. ( Nasdaq : OMGA ) ( " Omega " ) , a development - stage biotechnology company pioneering the first systematic approach to use mRNA therapeutics as a new class of programmable epigenetic medicines by leveraging its OMEGA Epigenomic Programing TM platform , today announced financial results for the third quarter ended September 30 , 2021 . " We continue to progress our pioneering OMEGA platform and our pipeline of Omega Epigenomic Controllers ( OECs ) with our first candidate , OTX - 2002 for the treatment of hepatocellular carcinoma , which we believe is one of many potential therapeutic applications of our platform , currently advancing through Investigational New Drug ( IND ) -enabling studies . The third quarter was marked by our successful initial public offering ( IPO ) , which left us well capitalized to continue advancing our other high priority pipeline programs , including OECs targeting CXCL 1-3 / IL8 for acute respiratory distress syndrome ( ARDS ) , SFRP1 for alopecia , c - MYC for non - small cell lung cancer ( NSCLC ) and HNF4a for liver disease , " said Mahesh Karande , President and Chief Executive Officer of Omega Therapeutics . " We are also excited to have announced our research collaboration with the Ophthalmology Department of Stanford University School of Medicine , which allows us to expand and further diversify our pipeline . " Recent Business Highlights and Corporate Update Financial and Corporate . Omega has made progress advancing its preclinical programs and developing the OMEGA platform . The Company continues to evaluate new DNA - sequence - based epigenomic zip codes , EpiZips ™ , and Insulated Genomic Domains ( IGDs ) for biologically validated gene targets through its OMEGA platform with the goal of further broadening its pipeline and bringing its new class of mRNA therapeutics as programmable epigenetic medicines , OECs , to patients across a broad range of diseases . • In October 2021 , Omega announced a strategic research collaboration with the Stanford University School of Medicine . The collaboration will explore the therapeutic potential of OECs to control ocular disease genes associated with inflammation or regeneration of ocular tissues . Using the OMEGA platform , the Ophthalmology Department of Stanford University School of Medicine will discover and research novel ocular targets for potential future OEC development candidates . • In August 2021 , Omega completed a successful IPO , 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 . Development Pipeline and Platform • OTX - 2002 : IND - enabling studies are ongoing for Omega's lead OEC candidate OTX - 2002 , the first in a new class of programmable epigenetic medicines targeting proprietary EpiZips in the MYC IGD and 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 target filing an IND for OTX - 2002 in the first half of 2022 . • Additional OEC Development : The Company is working on multiple programs in pre - clinical studies , including ARDS with CXCL1-3 / IL8 , alopecia with SFRP1 , NSCLC with c - MYC and liver disease with HNF4a , and is targeting the identification of additional development candidates for the first half of 2022 and an additional IND for the second half of 2022 or early 2023 . • OMEGA Epigenomic Programming Platform : Omega continues to evolve and develop its OMEGA platform , most