Last fall, the RNA medicine startup Orbital Therapeutics launched in Cambridge, Massachusetts. Their mission, they say, is focused on improving global health by unlocking the full potential of RNA medicines to treat human disease. This week, they announced his successful $270 million Series A funding round.
Orbital Therapeutics aims to expand the applicability of RNA-based medicines to various human diseases. This includes next-generation vaccines, immunomodulation, and protein replacement. The company is building an RNA platform that integrates both established and emerging RNA technologies and delivery mechanisms.
Orbital co-founder and CEO Dr. Giuseppe Ciaramella said: “Since our founding, we have been passionate about uncovering the most promising opportunities in our first programs and advancing our RNA technology platform so that we can reach patients as efficiently as possible. With the support of a respected group of investors, we are excited to further enable the growth of our organization and the meaningful expansion of our platform and portfolio.”
The Series A funding was led by ARCH Venture Partners, with early investors a16z Bio + Health and Newpath Partners, and new investors Abu Dhabi Growth Fund (ADG), Redmile Group, Exor NV, Invus, Moore Strategic Ventures, The iGlobe Platinum Fund has joined. Group, Casdin Capital, Agent Capital, Alexandria Venture Investments, Relim Capital Management, Heritage Medical Systems, and other private investors.
In other RNA news, London-based MiNA Therapeutics announced the initiation of a research collaboration with BioMarin Pharmaceuticals to advance its small activating RNA (RNAa) platform in rare genetic diseases . This collaboration will enable the discovery, potential development and commercialization of RNAa therapeutic drug candidates targeting a number of rare genetic diseases.
MiNA’s RNAa platform has been clinically validated in over 120 patients to date. A universally engineered platform could potentially address any gene, given its endogenous mechanisms of action that ultimately address the root cause of the defective gene and allow the body to self-correct. Moreover, RNAa drugs that act at the genetic level can restore the cell’s own biology. This has the potential to treat currently ‘untreatable’ diseases.
Under the agreement, BioMarin will use MiNA Therapeutics’ proprietary RNAa algorithm and technology platform to identify and characterize RNAa molecules that target many inherited diseases for which there are currently no or minimal therapeutic options increase. This agreement does not cover oncology or other therapeutic areas other than genetic diseases. BioMarin can then choose to fully license the assets for global development and commercialization.
As part of the transaction, MiNA will receive an upfront payment and future royalties are subject to BioMarin exercising options out of the transaction. Financial terms of the deal were not disclosed.
Dr. Kevin Eggan, senior vice president and CSO of BioMarin, said: