Orna Therapeutics, a Cambridge, MA-based biotechnology company pioneering a new class of fully engineered circular RNA therapies (oRNA), raised $221m in Series B funding.
At signing, the company received approximately $121m and expects to receive the remaining $100m subject to customary closing conditions (including regulatory approval under the Hart-Scott-Rodino (HSR) Act).
Merck participated as a new investor in the financing alongside commitments from founding investors MPM Capital and BioImpact Capital, an affiliate of MPM, among others.
The company intends to use the funds to continue development of its circular RNA + LNP (lipid nanoparticle) delivery platform, as augmented by its joint venture with ReNAgade Therapeutics, an RNA delivery company created by MPM Capital and BioImpact Capital, to advance its lead in situ CAR (isCAR) program toward the clinic and build manufacturing capabilities to support development of an expanding preclinical and clinical pipeline.
Created in 2019 by MPM Capital and BioImpact Capital, with funding from the UBS Oncology Impact Fund, Orna is pioneering a new class of fully engineered circular RNA therapies (oRNA) by leveraging proprietary circular RNA (oRNA) engineered as linear RNA that self-circularizes. According to the company, by taking a line and turning it into a circle, oRNA enables simplified production, increased protein expression, and a superior immunogenicity profile.
Orna Therapeutics was founded on research by Alex Wesselhoeft, Ph.D., and Daniel G. Anderson, Ph.D., from MIT and built by MPM Capital and BioImpact Capital, an affiliate of MPM. It is led by Tom Barnes, Ph.D., Chief Executive Officer.
FinSMEs
17/08/2022