Biorchestra, a Daejeon, South Korea, and Cambridge, Massachusetts, USA-based RNA therapeutics company, raised $45M in Series C funding.
Participants in the Series C included Daily Partners, IMM Investment, SBI Investment, LSK Investment, E&Venture Partners, Smilegate Investment, Quantum Ventures Korea, Stick Investment, Widwin investment, and NH Securities as FI (financial investors). GS holdings, Chong Kun Dang Holdings, and Chong Kun Dang Pharmaceutical participated in the series C as SI (strategic investor).
The company intends to use the funds to support the expansion of research and development activities and product pipeline, completion of GMP facility, and initiation of nonclinical toxicology programs.
Led by CEO Branden (Jinhyeob) Ryu, Dr. Louis O’Dea, CMO and US President, and Young-Gil Kim, CFO, Biorchestra is an innovative biotech developing ribonucleic acid (RNA) based therapeutics.
The BMD is a therapeutic agent development platform that can control microRNAs that regulate multiple messenger RNAs (mRNAs) involved in pathological factors related to diseases.
The company has developed proprietary drug delivery system (BDDS™) for commercial drug development. Delivering the ASO via intravenous injection route, they observed target microRNA knock-down efficacy not only in cortex but also deep brain such as hippocampus even striatum and spinal cord as well.