ReCode Therapeutics, on track with its plan to take its two lead programs into the clinic this year, announced on 19 September that it raised another $50m in series B venture capital, bringing the round’s total to $260m. This will support clinical trials for RCT1100 in primary ciliary dyskinesia and RCT2100 in cystic fibrosis while allowing the company to continue expanding its pipeline of precisely delivered mRNA and gene correction therapeutics.
Finance Watch: ReCode’s Series B Mega-Round Grows Again With $50m Boost
DalCor Raises $80m For Dalcetrapib Confirmatory Trial
Private Company Edition: ReCode’s series B venture capital round grew for a third time, now totaling $260m for precision genetic medicines. Also, DalCor closed an $80m series D, manufacturer Nephron amassed $350m, Hyku launched with a $56m seed financing and Magnet emerged with $50m.
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CEO Kris Elverum told Scrip about the start-up’s platform for editing RNA to correct genetic variants that cause harm and to reproduce healthy variants as a means of treating disease.
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The four-year-old firm said it plans to advance programs toward the clinic from the funding round, which comes just over a year after signing two major pharma partnerships.
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Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.
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