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The private biopharmaceutical firm pioneers precision medicines for pulmonary diseases and is expecting to file an Investigational New Drug Application ("IND") for the PCD and CF programs
Fremont, CA: Biopharmaceutical firm ReCode Therapeutics landed USD 80 million in an oversubscribed funding round co-led by OrbiMed Advisors LLC and Colt Ventures. The financing round was also participated by MPM Capital, Vida Ventures LLC, Hunt Technology Ventures, L.P., and Osage University Partners. The Texas-based company will use the fund from the round to continue the preclinical development of its lead programs in primary ciliary dyskinesia ("PCD") and cystic fibrosis ("CF").
"Our preclinical studies demonstrate that our targeted RNA therapies have great potential for the treatment of life-threatening pulmonary diseases," commented David Lockhart, Ph.D., CEO, and president, ReCode Therapeutics. "We are pleased to close this financing round with world-class investors who believe in the bold vision of our new company. With these additional resources, we're focused on advancing our preclinical programs into the clinic over the next two years."
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The private biopharmaceutical firm pioneers precision medicines for pulmonary diseases and is expecting to file an Investigational New Drug Application ("IND") for the PCD and CF programs. The company also plans to use the funds to advance its proprietary non-viral lipid nanoparticle ("LNP") delivery platform for organ-specific delivery of RNA therapies and gene editing components.
"I'm especially grateful to ReCode's founders, professors Daniel Siegwart, Ph.D., and Philip Thomas, Ph.D., at the University of Texas Southwestern Medical Center, and Professor Emeritus Arthur Johnson from Texas A&M University whose foundational research played an instrumental role in cultivating both the LNP delivery platform and the CF therapeutic program. Finally, we are grateful to the Cystic Fibrosis Foundation, whose financial support has allowed us to play a pivotal role in understanding the pathogenesis of CF and led to the development of a novel therapeutic approach for correcting nonsense mutations for this severe disease," said Lockhart.
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