— Firm’s platform goals to create programmable, long-acting mRNA therapies that supply healing therapies for most cancers and past —
— Collection A1 spherical led by new investor FPV Ventures —
BOSTON–(BUSINESS WIRE)– Strand Therapeutics, the programmable mRNA firm growing healing therapies for most cancers and different ailments, at the moment introduced it has added an extra $45M to its Collection A financing spherical, bringing the overall quantity raised within the Collection A to $97 million. New investor FPV led the spherical, with participation from Eli Lilly and Firm, Potentum Companions, and current buyers Playground World, and an additional unannounced syndicate.
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Strand Therapeutics co-founders Jake Becraft, Ph.D., CEO and Tasuku Kitada, Ph.D., President, Head of R&D. (Picture credit score: Doug Levy)
The funding can be used to advance Strand’s first drug candidate, a programmable mRNA remedy for stable tumor immuno-oncology into Section 1 medical trials subsequent yr. The funds may even be used to additional develop its systemic supply mechanism, which is designed to ship tumor microenvironment-modifying mRNA to tumor websites and immune cells. To assist these efforts, Strand will increase its multidisciplinary staff throughout biology, bioengineering, bioinformatics, manufacturing, automation, and varied G&A features.
Strand’s mission is to enhance the efficacy, security, ease of supply and cost-effectiveness of therapies for lethal and continual sicknesses, by way of using long-acting programmable mRNA-based therapeutics that may ship multi-functional therapies. mRNA therapeutics sense biomarkers present in most cancers cells and categorical proteins solely inside most cancers cells. Strand is growing a pipeline of programmable, long-acting mRNA therapeutics that can be delivered in nanoparticles. The result’s the flexibility to exactly management the situation, timing, and expression degree of mRNA throughout the affected person, which is predicted to have a greater security profile.
“We raised this spherical at a step-up valuation from a number of of probably the most respected international buyers within the business,” stated Jake Becraft, Ph.D., CEO & Co-Founder, Strand Therapeutics. “The thought behind Strand and programmable mRNA in most cancers, is to stimulate an immune response in opposition to the tumor utilizing messenger RNA. With assist from a world-class investor consortium, we’re set to speed up medical improvement for our lead candidate in oncology with first-in-human information anticipated shortly following trial initiation. Our expertise will allow mRNA to succeed in its full potential and increase past the scope of vaccines right into a rigorous therapeutic modality.”
“Strand is bringing the promise and potential of messenger RNA-based therapeutics past vaccines to deal with a few of the hardest ailments to focus on resembling most cancers,” stated Pegah Ebrahimi, Co-Founder & Managing Associate of FPV. “mRNA is a future cornerstone of drugs, and Strand is on an formidable path to push the business past the challenges of conventional mRNA applied sciences with their precision. The convergence of biology and expertise with next-generation programmable mRNA will gasoline new alternatives for this ground-breaking expertise to enhance human lives, starting with the hundreds of thousands of sufferers with most cancers who desperately want new therapies with higher efficacy and security. We couldn’t be extra thrilled to again this exceptional staff.”
“The COVID-19 vaccines launched the world to the astounding promise of mRNA therapeutics. Whereas these vaccines actually saved the world, they characterize “mRNA 1.0” which suffers from poor expression and nonspecific focusing on of diseased tissues which have severely restricted the scope of use,” stated Jory Bell, Normal Associate at Playground. “Over a decade in the past, scientists at MIT started growing an artificial biology resolution to allow actually programmable medicine with the flexibility to focus on diseased tissues whereas avoiding wholesome tissues. These scientists ultimately based Strand Therapeutics to appreciate the total potential of “mRNA 2.0” and we’re thrilled to proceed to assist Strand in its mission to convey precision mRNA therapies to sufferers.”
Strand genetically packages logic circuits that management the situation, timing, and depth of expression of therapeutic proteins throughout the affected person’s physique, to allow the exact and managed supply of a number of illness therapies in an RNA-modality agnostic method. Such genetic programming permits Strand’s mRNA to sense and implement cell-type particular expression by sensing and classifying the distinctive microRNA expression signatures of cells. The corporate signed a partnership cope with BeiGene to develop and commercialize multi-functional mRNA therapies for stable tumors.
About Strand Therapeutics
Strand Therapeutics is a next-generation biotechnology firm dedicated to remodeling the lives of sufferers by growing first-in-class programmable mRNA therapeutics. Based by leaders in mRNA-based artificial biology at MIT, Strand is creating the primary platform for programmable, long-acting mRNA therapeutics which might be bioengineered to allow exact management of the situation, timing, depth, and period of therapeutic exercise. Strand’s mission is to develop improved remedy choices for most cancers and different life-threatening ailments. The corporate is headquartered in Boston, MA. For extra data, go to www.strandtx.com. Observe us on Twitter @StrandTx.
FPV is a brand new $450m fund targeted on backing and serving mission-driven founders all through their complete journey. Based by business veterans Wesley Chan (Founding father of Google Analytics and Google Voice) and Pegah Ebrahimi (former COO and CIO at Morgan Stanley and COO of Cisco Collaboration), the agency has backed well-known, high-impact startups together with Canva, Flexport, Guild Schooling, Xilis, and Manifold Bio.