Ribometrix, a Durham, N.C.-based biotechnology company developing small molecule therapeutics that directly target RNA to treat human diseases, completed a $30m Series A financing.
The round was led by M Ventures, with participation from new investors Amgen Ventures, Pappas Capital and Illumina Ventures and founding investors SV Health Investors, AbbVie Ventures, Hatteras Venture Partners, MP Healthcare Venture Management, the Dementia Discovery Fund and Alexandria Venture Investments. In conjunction with the funding, Hakan Goker, Ph.D., Senior Investment Director of M Ventures, will join the board as a non-executive director.
The company intends to use the funds to advance its discovery platform and internal pipeline of novel small molecule drugs that directly modulate RNA activity, as well as expand its team and business development activity.
Led by chief executive officer Michael Solomon, Ph.D, Ribometrix is a biotechnology company developing small molecule therapeutics that directly target RNA to treat human diseases. Its discovery pipeline focuses on targeting RNA molecules that fold into complex 3D structures yielding pockets amenable to small molecules with high selectivity and favorable drug-like characteristics.
The platform provides a comprehensive analysis of small molecule-RNA interactions, including 3D structural information, based on the inventions of its scientific co-founder, Kevin Weeks, Ph.D., at the University of North Carolina at Chapel Hill.