RNA-based therapeutic developer DTx Pharma announced today that it completed a $100 million Series B financing round.
RA Capital Management led the financing round with participation from new investors Access Biotechnology, Surveyor Capital (a Citadel company), Cormorant Asset Management, Janus Henderson Investors, and Logos Capital.
Additionally, existing investors Friedman Bioventure Fund, Eli Lilly, Viva BioInnovator and ExSight Ventures participated, according to a news release. In connection with the financing, RA Capital Management principal Matthew Hammond and Access Biotechnology partner Dr. Dan Becker will join DTx Pharma’s board of directors.
Proceeds from the financing are earmarked for advancing DTx Pharma’s Falcon (fatty acid ligand conjugated oligonucleotide) platform technology as it looks to treat ocular, neuromuscular and CNS diseases.
The Falcon delivery platform is designed to utilize fatty acids as targeting ligands to enable cellular uptake and promote the biodistribution of RNA therapeutics.
“The DTx Pharma team has uncovered new ways to leverage fatty acids to overcome some of the challenges that have greatly limited RNA therapeutics as a class,” DTx Pharma CEO Arthur T. Suckow said in the release. “These funds will allow us to utilize our FALCON fatty acid motifs to advance assets into clinical development across several therapeutic areas over the next few years.”