Ribometrix, a US-based RNA-modulating therapeutics developer spun out of University of North Carolina at Chapel Hill, has raised $30m in a series A round led by M Ventures, a corporate venturing vehicle for pharmaceutical firm Merck Group.
AbbVie Ventures, Amgen Ventures, MP Healthcare Venture Management and Illumina Ventures, respective subsidiaries of pharmaceutical companies AbbVie, Amgen and Mitsubishi Tanabe Pharma, and genomics technology provider Illumina, also took part.
The round was filled out by Alexandria Venture Investments, the strategic investment arm of life sciences real estate investment trust Alexandria Real Estate Equities, SV Health Investors, Hatteras Venture Partners and Dementia Discovery Fund (DDF).
Ribometrix is developing therapies for a wide range of diseases, focusing on small molecules that alter the structures of ribonucleic acid (RNA). The funding will be used to expand its team and advance an internal pipeline of small molecule drugs intended to alter RNA activity.
The series A round involved Hakan Goker, senior investment director of M Ventures, joining Ribometrix’s board as a non-executive director.
Abbvie Ventures, MP Healthcare Venture Management, Alexandria Venture Investments, SV Health, Hatteras and DDF had previously invested in a $7.5m seed round for Ribometrix in November 2017 that included $100,000 from RNA drug developer Moderna according to ExitEvent.
– A version of this article first appeared on our sister site, Global Corporate Venturing.

US-based RNA drug developer Ribometrix has raised $30m in a series A round led by M Ventures, a corporate venturing vehicle for pharmaceutical firm Merck Group.

AbbVie Ventures, Amgen Ventures, MP Healthcare Venture Management and Illumina Ventures, respective subsidiaries of pharmaceutical companies AbbVie, Amgen and Mitsubishi Tanabe Pharma, and genomics technology provider Illumina, also took part.

The round was filled out by Alexandria Venture Investments, the strategic investment arm of life sciences real estate investment trust Alexandria Real Estate Equities, SV Health Investors, Hatteras Venture Partners and Dementia Discovery Fund (DDF).

Ribometrix is developing therapies for a wide range of diseases, focusing on small molecules that alter the structures of ribonucleic acid (RNA). The funding will be used to expand its team and advance an internal pipeline of small molecule drugs intended to alter RNA activity.

The series A round involved Hakan Goker, senior investment director of M Ventures, joining Ribometrix’s board as a non-executive director.

Goker said: “The ability to target RNA directly with small molecules offers the potential to unlock large, previously ‘undruggable’ target classes that could revolutionise the treatment of a wide variety of diseases including cancer.

“The Ribometrix team has created and harnessed a highly novel platform delivering a strong pipeline of programs for future development.”

Abbvie Ventures, MP Healthcare Venture Management, Alexandria Venture Investments, SV Health, Hatteras and DDF had previously invested in a $7.5m seed round for Ribometrix in November 2017 that included $100,000 from RNA drug developer Moderna according to ExitEvent.