RARE Daily

Rectify Launches with $100 Million to Develop Therapies Targeting Mutations in ABC Transporters

October 14, 2021

Rectify Pharmaceuticals launched with $100 million in a series A financing to develop disease-modifying therapeutics that restore ABC transporter function.

Atlas Venture, Omega Funds, Forbion, and Longwood Fund co-led the financing, which will be used to fund the company through its first human proof-of-concept studies.

ABC transporters are a 48-member family of membrane-bound proteins with etiologic loss-of-function mutations in multiple organ systems and therapeutic areas including the lungs, liver, gastrointestinal tract, eye, and central nervous system. Rectify is developing a pipeline of Positive Functional Modulators (PFMs) to restore ABC transporter function for patients with serious genetic diseases.

“We founded Rectify to deliver life-changing therapies to patients with serious genetic diseases,” said Rajesh Devraj, president and CEO of Rectify, and venture partner with Atlas Venture.

Chief Scientific Officer Jonathan Moore founded Rectify with Atlas Venture in 2020. Previously, Moore was a founding scientist at Vertex Pharmaceuticals where he pioneered efforts to treat people with cystic fibrosis by developing precision therapies targeting CFTR, a member of the ABC transporter family.

“Outside of CFTR, there are currently no approved therapies that restore ABC transporter function, addressing the underlying cause of disease. Rectify is expanding the application of this proven approach to provide disease-modifying therapies for people living with serious genetic diseases caused by loss-of-function mutations,” said Moore.

“Rectify’s Positive Functional Modulators have the potential to change the lives of patients with diseases caused by mutations in ABC transporters,” said Jason Rhodes, partner at Atlas Venture, previously founding CEO of Rectify and now executive chair of Rectify’s Board of Directors.

In addition to Devraj and Moore, Rectify Pharma’s leadership team includes Tracey Dawson, chief operating officer, Janeta Popovici-Muller, senior vice president, head of Drug Discovery, and Alastair Garfield senior vice president, head of Biology.

Author: Rare Daily Staff

Stay Connected

Sign up for updates straight to your inbox.