ReCode Therapeutics Raises $80 Million in Series B to Advance Gene Therapy & LNP Delivery Platform
ReCode Therapeutics is a biopharma pioneering disease-modifying genetic medicines through its proprietary non-viral lipid nanoparticle (LNP) delivery platform. On October 21st, it announced the completion of an $80 million in a Series B financing round led by Pfizer Ventures and EcoR1 Capital.
Existing investors from the previous round included OrbiMed, Vida Ventures, MPM Capital, Colt Ventures, Hunt Technology Ventures, L.P., and Osage University Partners (OUP), while new investors included Sanofi Ventures, funds managed by Tekla Capital Management LLC, Superstring Capital, and NS Investment.
“ReCode is working to unleash the power of genetic medicine by delivering therapies with our novel LNP platform, which has the potential to reach across a broad spectrum of diseases involving multiple organs and tissues,” said David Lockhart, Ph.D., CEO, and President of ReCode Therapeutics.
“The significant capital secured from such a respected group of investors, known for backing innovative biotechnology companies, enables us to accelerate delivery of impactful medicines to thousands of patients with genetic respiratory diseases in need of options, including those with CF and PCD.”
Rana Al-Hallaq, Ph.D., a partner at Pfizer Ventures and executive director for Pfizer Worldwide Business Development, joined the board of directors at ReCode. “Through this investment, we are excited to support ReCode in its development of these novel LNPs, which we believe, if successful, may significantly expand the potential of genetic medicine across therapeutic areas,” he said.
“We are excited to co-lead ReCode’s Series B financing and to support the company as they advance their unique technology that enables the delivery of novel genetic medicines to target organs, tissues, and cells. ReCode’s platform has the potential to unlock vast capabilities unaddressable by first-generation mRNA and gene editing programs and enable development of therapeutics for patients with diseases that have historically been untreatable,” said Oleg Nodelman, founder and portfolio manager of EcoR1 Capital who also joined ReCode’s board of directors.
|Related Article: Sio Gene Therapies Touts Positive Safety and Biomarker Data for GM1 Gangliosidosis Candidate|
Utilization of Funding
The funding will facilitate ReCode’s lead programs in primary ciliary dyskinesia (PCD) and cystic fibrosis (CF) into human clinical trials and expand the pipeline of treating patients with life-limiting genetic respiratory diseases. Additionally, the funding will help enhance ReCode’s LNP platform for organ-specific delivery of RNA and gene correction therapies, as well as spike the capabilities of internal manufacturing.
Recent Preclinical Progress
The recent preclinical data from ReCode’s RNA-based CF program demonstrated that the LNPs could deliver cystic fibrosis transmembrane conductance regulator (CFTR) mRNA to help restore CFTR function in the CF patient-derived hBE cell model. Moreover, the preclinical data of ReCode’s inhaled mRNA-based program for the treatment of PCD give a promising restoration effect on airway epithelial cells of DNAI1-deficient hBE cells after being administered with LNP formulation of DNAI1 mRNA.©www.geneonline.com All rights reserved. Collaborate with us: firstname.lastname@example.org