ReCode Raises $80 Million to Advance Pipeline of Rare Lung Diseases Therapies
October 21, 2021
ReCode Therapeutics closed an $80 million series B financing round to advance its lead mRNA and gene correction therapies for cystic fibrosis and primary ciliary dyskinesia into human clinical studies.
Primary ciliary dyskinesia (PCD) is a rare, autosomal recessive genetic disorder that causes defects in the action of cilia lining the respiratory tract leading to chronic nasal congestion, chronic sinus infections, and respiratory distress in newborns.
Cystic fibrosis (CF) is a rare, genetic disease caused by mutations in the CFTR gene that lead to a defective or missing cystic fibrosis transmembrane conductance regulator (CFTR) protein. There are approximately 2,000 known mutations in the CFTR gene. In the lungs, defective or missing CFTR protein leads to the buildup of abnormally thick, sticky mucus that can cause chronic lung infections and progressive lung damage in many patients that eventually leads to death. The median age of death is in the early 30s.
Pfizer Ventures and EcoR1 Capital led the financing, with participation by new investors Sanofi Ventures, funds managed by Tekla Capital Management, Superstring Capital, and NS Investment. Existing investors OrbiMed, Vida Ventures, MPM Capital, Colt Ventures, Hunt Technology Ventures, and Osage University Partners also participated in the funding round.
ReCode will use the proceeds from the financing to drive its lead programs in CD and CF into human clinical studies, expand the pipeline of treatments for patients with life-limiting genetic respiratory diseases, advance its LNP platform for organ-specific delivery of RNA and gene correction therapies, and increase internal manufacturing capabilities.
“ReCode is working to unleash the power of genetic medicine by delivering therapies with our novel LNP platform, which has the potential to reach across a broad spectrum of diseases involving multiple organs and tissues,” said David Lockhart, CEO and president of ReCode Therapeutics. “The significant capital enables us to accelerate delivery of impactful medicines to thousands of patients with genetic respiratory diseases in need of options, including those with CF and PCD.”
ReCode’s lead programs are focused on the genetic respiratory diseases PCD and CF. Recent preclinical data from the company’s RNA-based CF program showed that its LNPs can deliver CFTR mRNA that restores cystic fibrosis transmembrane conductance regulator (CFTR) function in the CF patient-derived hBE cell model. Preclinical data from the company’s inhaled mRNA-based program for the treatment of PCD demonstrated that its LNP formulations successfully delivered DNAI1 mRNA to target airway epithelial cells in hBEs, mice and NHPs, and that robust ciliary activity was restored in treated DNAI1-deficient hBE cells.
In connection with the closing of the financing, Rana Al-Hallaq, a partner at Pfizer Ventures and executive director for Pfizer Worldwide Business Development, has joined the ReCode board of directors. Oleg Nodelman, founder and portfolio manager of EcoR1 Capital also joined ReCode’s Board of Directors in connection with the financing.
Author: Rare Daily Staff
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