RARE Daily

ReCode Therapeutics Raises Additional $50 Million to Advance mRNA Pipeline Closing

September 19, 2023

Rare Daily Staff

ReCode Therapeutics, a clinical-stage genetic medicines company using precision delivery to power the next wave of mRNA and gene correction therapeutics, closed an extension to its series B financing, raising an additional $50 million.

The extension brings the total raised in the round to $260 million.

New investors in the extension include Bioluminescence Ventures and Solasta Ventures, with backing from existing investors, including OrbiMed Advisors, AyurMaya, an affiliate of Matrix Capital Management, Leaps by Bayer, Vida Ventures, MPM Capital, Pfizer Ventures, EcoR1 Capital, Sanofi Ventures, Amgen Ventures, and Osage University Partners, among others.

Proceeds will be used to advance ReCode’s primary ciliary dyskinesia and cystic fibrosis clinical development programs and to expand the company’s proprietary Selective Organ Targeting lipid nanoparticle pipeline to include mRNA and gene correction therapeutics for central nervous system, lung, liver, and musculoskeletal indications.

In conjunction with the financing, Kouki Harasaki, founding and managing partner of Bioluminescence Ventures was appointed to the company’s board of directors. He brings more than 25 years of biomedical science experience in multiple therapeutic areas across major health systems, research institutes, biopharmaceutical corporations, technology companies and venture capital firms. Prior to BLV, he was managing director at M12/Microsoft Ventures, where he led life science investments and helped develop Microsoft’s corporate strategy in the field. Before M12, Harasaki was a senior partner at Andreessen Horowitz.

“Throughout 2023, we made tremendous progress entering the clinic, strengthening our financial position and building out our leadership team to support our genetic medicines clinical development programs,” said Shehnaaz Suliman, CEO, ReCode Therapeutics. “We remain focused on achieving important upcoming clinical milestones, including dosing the first patients in our phase 1 trial of RCT1100 for primary ciliary dyskinesia and we are also on track to file a number of investigational new drug applications with global regulators for RCT2100, our cystic fibrosis candidate, later this year.”

Photo: Shehnaaz Suliman, CEO, ReCode Therapeutics

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