Eleven Therapeutics Raises $22M in Seed Funding

Eleven Therapeutics, a Tel Aviv, IL & Cambridge UK-based biotechnology company focused on advancing nucleic acid therapeutics, raised a total of $22m in seed funding.

Backers included the Bill & Melinda Gates Foundation, which committed $9m in funding to Eleven, including $5m towards future equity investment supporting the development of a platform that designs small interfering RNAs (siRNAs) with ultra-long durability by utilising high throughput combinatorial chemistry and AI. The additional $4m by the Gates Foundation was awarded as a non-dilutive grant furthering Eleven’s development of prophylactics against endemic and pandemic-poised respiratory viruses. Importantly, the Gates Foundation’s funding will promote wide accessibility of Eleven’s ultimate treatments to people in need in developing countries. The company additionally has a Cooperative Research and Development Agreement (CRADA) with the Vaccine Research Centre of the NIAID. Additional funding sources included Kindred Capital; NFX Bio (formerly TechBio); Harel Technology Investments; Entrée Capital; and the Innovate UK Smart Grant.

Led by Prof. Yaniv Erlich, CEO, Eleven Therapeutics brings new RNAi therapeutics for patients in need by capitalising on some of the world’s best pools of talent through its three collaborative hubs—in Cambridge, UK; Boston, U.S.; and Tel Aviv, Israel. Eleven is currently focusing its development pipeline on siRNA treatments for a range of respiratory diseases.

Its flagship invention features a new modality, dubbed SCSI-RNA™ (smart-combinatorial, small interfering RNA), a fully programmable molecule, rationally designed to address the delivery, durability, and efficacy challenges of any disease and biological target of interest.