Switch Therapeutics Launches with $52 Million to Advance First-of-its-Kind RNAi Technology
March 14, 2023
Rare Daily Staff
Switch Therapeutics, a preclinical stage biotechnology company pioneering a new way to use RNA science to treat diseases, launched with $52 million in a series A financing.
Insight Partners and UCB Ventures co-led the financing, with participation from existing investors Upfront Ventures and BOLD Capital Partners and new investors Eli Lilly, Ono Venture Investment, Digitalis Ventures, Dolby Family Ventures, Free Flow Ventures, PhiFund Ventures, and others.
“This is a transformational era for RNA medicines and we’re excited to apply our scientific discoveries in ways that could lead to new therapeutic breakthroughs, with the potential to treat some of the most devastating diseases,” said Dee Datta, co-founder and CEO of Switch Therapeutics. “Our approach uses novel CASi molecules that are uniquely able to self-deliver efficiently, have high potency and long duration of effect. Additionally, we can design CASi molecules to activate only in select cells, allowing for expansion into targets that may require precision RNAi approaches.”
The funds raised will be used to select and advance a development candidate for Switch’s lead program for the treatment of a central nervous system disease and recruit top R&D and corporate talent to help accelerate the company’s growth. The company also intends to explore opportunities to expand its CASi platform into new areas through potential pharmaceutical collaborations.
Switch was founded on the premise of a new type of RNA medicine that integrates nucleic acid nanotechnology and RNA interference science. Based on the scientific discovery of its co-founders, including Chief Technology Officer Si-ping Han, Switch’s proprietary CASi platform combines advantageous properties of both single and double-stranded RNAs in a single molecule, allowing for cell selective RNAi activity, as well as efficient self-delivery and uptake, potency and duration of knockdown. CASi molecules use a small interfering RNA (siRNA) structure with structural extensions to allow for docking to a sensor developed by Switch. The sensor allows efficient delivery of the siRNA while regulating the siRNA’s activity to “switch on” only in selected cells.
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