Rectify Pharmaceuticals Raises $100M in Series A Financing

Rectify Pharmaceuticals, Inc., a Cambridge, Mass.-based biotechnology company developing Positive Functional Modulators (PFMs), disease-modifying therapeutics that restore ABC transporter function, closed a $100m Series A financing.

The round was co-led by Atlas Venture, Omega Funds, Forbion, and Longwood Fund.

The company plans to use the capital to conduct its first human proof-of-concept (POC) studies.

Led by Rajesh Devraj, Ph.D., President and Chief Executive Officer and venture partner with Atlas Venture, and Jonathan Moore, Ph.D., Chief Scientific Officer, and founder, Rectify is developing disease-modifying precision therapies that restore ABC transporter function to address the underlying cause of serious genetic diseases. The company’s pipeline spans multiple therapeutic areas.

ABC transporters are a 48-member family of membrane-bound proteins with etiologic loss-of-function mutations in multiple organ systems and therapeutic areas including the lungs, liver, gastrointestinal tract, eye, and central nervous system.