– Series B expansion co-led by AyurMaya, a subsidiary of Matrix Capital Management, and Leaps by Bayer, with participation from Amgen Ventures. Joins existing investors including Pfizer Ventures, EcoR1 Capital and Sanofi Ventures. –
– Expanding and Diversifying Platform and Pipeline to Include mRNA and Gene Correction Therapies for Central Nervous System, Lung, Liver and Oncology Indications –
– Matrix Capital Management’s Dr. Alan Colowick and Leaps by Bayer’s Rakhshita Dhar Join the Board –
MENLO PARK, Calif., June 29, 2022–(BUSINESS WIRE)–Therapeutic ReCode, a genetic drug company using superior delivery to power the next wave of messenger RNA (mRNA) and gene correction therapies, today announced the closing of a Series B expansion funding round, co -led by new investors, Leaps by Bayer, the impact investing unit of Bayer AG, AyurMaya, a subsidiary of Matrix Capital Management, and with participation from Amgen Ventures. Along with the additional $120 million in new funding, the company secured a total of $200 million in Series B funding. Senior Director of Venture Investments Health at Leaps by Bayer, will join ReCode’s Board of Directors.
“At AyurMaya, we help create companies that have the potential to transform the therapeutic landscape for patients. ReCode has an impressive combination of groundbreaking science, a highly accomplished management team and investor base, and the opportunity to have an immense impact on accelerating precision genetic drugs via delivery to disease-affected cells,” said Alan Colowick, MD, MPH, Matrix Capital Management. ReCode on this important growth trajectory for the company and I look forward to working with the leadership team to expand ReCode’s next-generation genetic drug delivery platform and diversify its pipeline.”
The initial Series B funding announced in October 2021 was co-led by Pfizer Ventures and EcoR1 Capital and included Sanofi Ventures, Orbimed, Vida Ventures, MPM Capital, Colt Ventures, Hunt Technology Ventures LP, Osage University Partners, Tekla Capital Management LLC, Superstring Capital and NS Investment Proceeds from the financing will be used to fund the diversification of ReCode’s pipeline into central nervous system (CNS), liver and oncology indications, while continuing to advance ReCode’s core mRNA programs for dyskinesia primary ciliary disease (PCD) and cystic fibrosis (CF) in the clinic. The funds will also be used to advance the development of ReCode’s platform to deliver a broader range of genetic medicine cargoes, including additional gene editing modalities and small interfering RNA (siRNA) therapies, to a wider range of target cell types in a predictable and programmable way. .
“The successful delivery of billions of doses of COVID-19 mRNA vaccines and continued advancements with novel RNA and gene-correction therapies have catapulted us into a new era of possibilities for genetic drugs. We are harnessing this potential with our new organ-selective targeting. (SORT) lipid nanoparticle (LNP) delivery platform designed with unique properties to enable the delivery of gene therapies directly to the organs and cells most affected by disease, providing improved efficiency and potency This technology potentially revolutionary precision medicine creates vast possibilities for genetic medicines that have been limited by current technologies,” said Shehnaaz Suliman, MD, MBA, M.Phil., CEO and Board Member of ReCode Therapeutics. “With the injection of new capital and the addition of AyurMaya, a subsidiary of Matrix Capital Management, and Leaps by Bayer to our high caliber Board of Directors, we are confident that our team will carry out ReCode’s mission. to develop new precision genetic drugs enabled by superior delivery.”
The ability to precisely target specific organs and cell types is important for maximizing the effectiveness of genetic drugs and limiting potential adverse effects. Additionally, as evidenced by COVID mRNA vaccines and new RNA and gene editing therapies, LNP packaging allows for re-dosing. For people with genetic diseases such as cystic fibrosis that require potentially lifelong treatment, this means that LNP-delivered therapies can be administered repeatedly over time, potentially without significant immunogenicity.
“The ability to directly target specific organs and cells beyond the liver remains a major challenge for genetic medicines,” said Juergen Eckhardt, head of Leaps by Bayer. “At Leaps by Bayer, we have a strong focus on finding breakthrough solutions that have the potential to make a significant difference for people with rare genetic diseases, and we believe ReCode is a unique company in our industry whose innovations have the potential to fundamentally change an entire field of genetic medicine”.
In May 2022ReCode presented preclinical data from its two lead programs in PCD and CF at the 2022 American Thoracic Society (ATS) International Conference. These data demonstrated that selective organ-targeting (SORT) LNP-formulated therapeutic candidates for PCD and CF can be precisely delivered directly to disease-relevant cells without significant exposure to other tissues, effectively releasing the encapsulated genetic cargo expressing the right proteins at the relevant time. levels. The company plans to transition to Investigational New Drug (IND) filings for PCD and CF in late 2022 and mid-2023, respectively.
About SORT TNL Platform
ReCode differentiates itself through its premier modular genetic drug delivery platform. The Company’s Selective Organ Targeting (SORT) lipid nanoparticle (LNP) technology platform is the foundation of its pipeline. Started by co-founder, Professor Daniel J. Siegwart, Ph.D., of the University of Texas, and described by Nature as one of the “seven technologies to watch in 2022”, ReCode’s SORT LNP platform is an innovation beyond the lipid delivery system used by mRNA COVID vaccines and novel heart-correcting therapies RNA and genes.
LNPs are used to package and deliver genetic cargo such as mRNA. When delivered into the blood, first-generation LNPs are primarily taken up by the liver, which limits their usefulness for broad therapeutic applications. ReCode’s SORT LNPs are engineered with a biochemically distinct fifth lipid to help the body “sort” and direct LNPs to other target organs such as the lungs and spleen, with the ability to bypass the liver, if desired.
Beyond its highly selective targeting capability, ReCode’s SORT LNP platform is further distinguished by its versatility in both delivery mode (including IV, inhaled, subcutaneous, intramuscular, and intrathecal) and diversity of genetic cargo that can be delivered (including mRNA, siRNA, DNA, genetic correction components and mixed cargo). Together, these qualities provide vast opportunities to address a wide range of unmet medical needs through a precision medicine approach that delivers the right drug to the right organs and cells using the optimal mode of delivery.
About ReCode Therapeutics
ReCode Therapeutics is a genetic drug company using superior delivery to power the next wave of mRNA and gene correction therapies. ReCode’s Selective Organ Targeting (SORT) Lipid Nanoparticle (LNP) Platform is a next-generation genetic drug technology that enables precise delivery to target organs and cells beyond the liver. The SORT LNP platform is the foundation of ReCode’s pipeline of disease modifying mRNAs and gene correction therapies. ReCode’s main programs focus on primary ciliary dyskinesia and cystic fibrosis. ReCode leverages its SORT LNP platform and nucleic acid technologies to expand its pipeline with therapies that utilize mRNA-mediated replacement and gene correction in target organs with precise targeting of cells relevant to disease.
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