UT Southwestern Medical Center spinout ReCode Therapeutics has now raised a total of $200m in its series B round from investors including Osage University Partners.
ReCode Therapeutics, a US-based genetic medicines spinout of University of Texas Southwestern Medical Center, picked up another $120m in series B financing yesterday to bring the round’s total to $200m.
Leaps by Bayer and AyurMaya, respective vehicles linked to pharmaceutical firm Bayer and Matrix Capital Management, co-led the deal, with Amgen Ventures, the corporate venturing arm of drugmaker Amgen, also contributing to the extension.
It follows an $80m initial series B tranche in October last year from nearly a dozen investors, including spinout-focused venture firm Osage University Partners.
ReCode Therapeutics is working on mRNA treatments for primary ciliary dyskinesia (PCD) and cystic fibrosis (CF), and it will use the additional capital to expand into mRNA and gene correction therapeutics for central nervous system, lung, liver and cancer indications.
Rakhshita Dhar and Alan Colowick have joined the board of directors, representing Leaps by Bayer and Matrix Capital Management respectively.
Shehnaaz Suliman, chief executive of ReCode, said: “The successful administration of billions of doses of mRNA covid-19 vaccines, and continued progress with novel RNA and gene correction therapeutics, have catapulted us into a new era of possibility for genetic medicines.”
ReCode’s additional series B capital comes about a month after the spinout presented preclinical data for its PCD and CF assets, showing the treatment candidates could be precisely delivered to disease-relevant cells without significant exposure to other cells.