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2022-06-30| Funding

ReCode Therapeutics’ Secures an Extra $120 Million To Support Its Drug Delivery Platform

by Reed Slater
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Texas-based ReCode Therapeutics attracted $120 million in a Series B extension from Bayer, Pfizer, Sanofi, Amgen, and more to bring its total Series B financing to $200 million to fund its selective organ targeting (SORT) lipid nanoparticle technology (LNP) delivery platform. ReCode says the extra money will go far in developing its versatile platform, which aims to help target central nervous system, lung, spleen, liver, and oncology indications. 

 

Developing A Flexible Delivery Platform For Next-Generation Therapies

 

ReCode’s bread and butter lies in its SORT LNP delivery platform, which it touts can deliver various treatment options to selected organs for more efficient therapies. The young company’s lead drug candidates use the SORT LNP platform to deliver treatment for primary ciliary dyskinesia (PCD) and cystic fibrosis (CF), both of which are genetic conditions that can lead to chronic lung infections. 

What sets ReCode’s SORT LNP apart from other LNP platforms is its ability to bypass the liver and target other organs like the lungs and spleen. ReCode engineered its SORT LNP platform with a biochemically distinct fifth lipid to help the body direct the LNPs to organs beyond the liver. 

According to ReCode, the SORT LNP platform not only delivers therapies to selected organs but can also deliver a wide variety of groundbreaking new therapies, including mRNA, siRNA, DNA, gene correction components, and a combination of these treatments. Adding to the versatility is the wide array of modes of administration including inhaled treatments, IV, subcutaneous, intramuscular, and intrathecal. 

The PCD-focused development uses an inhaled administration of mRNA treatment in three different studies, one of which is in the preclinical phase. ReCode’s CF treatment uses an inhaled mRNA treatment in one method and an IV-administered gene correction method in another. Both CF treatment programs are in preclinical development. 

After mRNA COVID-19 vaccines propelled the potential of mRNA technology into the public eye, ReCode is using that momentum to its advantage to promote the potential of its delivery platform. 

“The successful administration of billions of doses of mRNA COVID-19 vaccines, and continued progress with novel RNA and gene correction therapeutics, have catapulted us into a new era of possibility for genetic medicines,” said CEO and board member at ReCode, Shehnaaz Suliman, M.D., MBA, M.Phil. “We are harnessing that potential with our novel selective organ targeting (SORT) lipid nanoparticle (LNP) delivery platform which is engineered with unique properties to enable delivery of genetic therapeutics directly to the organs and cells most impacted by disease, offering improved efficacy and potency.”

 

Related Article: Akero Receives Up To $125 Million To Continue Liver Disease Treatment Development

 

Drawing The Attention of Some of Pharma’s Biggest Players

 

ReCode’s most recent boost in funding comes after its October 2021 Series B funding which provided the company with $80 million. The Series B extension remarkably more than doubled the original Series B funding amount while maintaining support from some of pharma’s biggest companies. 

The initial Series B funding was co-led by Pfizer Ventures and EcoR1 Capital with support from Sanofi Ventures, OrbiMed, and more. Leaps by Bayer and AyurMaya led the Series B extension with participation from Amgen Ventures.

Maintaining some of biotech’s biggest members and bringing in some new huge players is a massive boost for ReCode, founded just seven years ago. With unwavering support from the industry’s biggest companies, ReCode has the opportunity to continue developing some of the most interesting and promising technology in the biotech sphere right now. 

After presenting some encouraging preclinical data from its PCD and CF programs at the American Thoracic Society 2022 Internation Conference, ReCode says it intends to initiate more investigational new drug filings for PCD and CF in late 2022 and mid-2023. 

With a total of $200 million in Series B financing, ReCode can continue focusing on developing cutting-edge technology that will hopefully be integrated into various therapy options. If successful, the SORT LNP delivery platform could have massive benefits to the healthcare industry and treatment options for a plethora of indications. 

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