ReCode Therapeutics Raises $80 Million for Rare Lung Diseases
March 26, 2020
Rare Daily Staff
ReCode Therapeutics, a new company formed from the combination of TranscipTx and ReCode Therapeutics, has raised $80 million in a series A financing to advance preclinical development of its RNA-based therapeutic programs in primary ciliary dyskinesia and nonsense mutations in cystic fibrosis.
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.
ReCode’s financing was led by OrbiMed Advisors and Colt Ventures with participation from MPM Capital, Vida Ventures, Hunt Technology Ventures, and Osage University Partners.
ReCode expects to file an application to begin human clinical trials for of its lead both programs in 2021. In addition, the company will advance its proprietary non-viral lipid nanoparticle delivery platform for organ-specific delivery of RNA therapies and gene editing components.
“Our preclinical studies demonstrate that our targeted RNA therapies have great potential for the treatment of life-threatening pulmonary diseases,” said David Lockhart, CEO and president, ReCode Therapeutics.
Along with the financing, ReCode has appointed a new board of directors. The directors comprise representatives from the company including David Lockhart and key investors including Peter Thompson, partner at OrbiMed, Ed Hurwitz, managing director at MPM Capital, Helen Kim, managing director at Vida Ventures, R.A. Session II, chief business officer of the gene therapy subsidiaries at BridgeBio, and ReCode founder and new vice president of R&D, Michael Torres.
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