Rubius Therapeutics, a biotech engineering red blood cells as drug carriers, said today that it raised $120 million in an oversubscribed private financing round.
The Cambridge, Mass.-based company plans to use its newly-acquired funds to support its Red-Cell Therapeutics portfolio and prepare for human clinical trials in 2018.
“With this financing, Rubius is well positioned to focus on the continued development of our platform to advance a broad range of therapeutic candidates that have the potential to make a significant difference in the lives of patients,” president Torben Straight Nissen said in prepared remarks.
“Rubius has achieved multiple scientific and manufacturing milestones in the first 6 months of this year. Those achievements plus the trust that Flagship and our new investors have put in Rubius with this financing sets us up to turn our RCTs into important new treatment options,” chairman David Epstein added. Epstein is also the executive partner of Flagship Pioneering, which launched Rubius 2 years ago and continues to fund the company.
The Red-Cell Therapeutics platform combines red blood cells with enzymes, agonists, antagonists and binders in their natural conformation. The company said that its lead programs include enzyme replacement therapies and treatments targeting solid tumors and hematological cancers.
“We are excited to expand our support of Rubius in this next round of funding as the company continues to advance its technology and programs — following in the footsteps of Flagship’s family of successful multiproduct platform companies,” Rubius co-founder & CEO of Flagship Pioneering, Noubar Afeyan, said. “The team at Rubius has made great strides over the past 3 years and we are pleased to support the company’s continued growth. This new financing, together with a leadership team with unparalleled expertise, positions Rubius to deliver on the promise of the RCT platform and bring transformative therapies to patients.”