US-based genetic medicine developer Aro Biotherapeutics completed an $88m series A round today featuring drug producer Ionis Pharmaceuticals and Johnson & Johnson Innovation – JJDC, part of medical group Johnson & Johnson.
The round was co-led by venture capital firm Northpond Ventures and altrernative asset manager Cowen Healthcare Investments and included HealthCap, BVF Partners, BioMotiv and Ridgeback Capital.
Aro is working on RNA therapeutics based on a class of engineered proteins called centyrins which are derived from a protein found in a range of tissues.
The company’s drug pipeline includes potential treatments for autoimmune disease and genetic muscle disease, some of which are being developed in partnership with Ionis.
Susan Dillon, Aro’s co-founder and chief executive, said: “Aro is poised to deliver on the promise of our centyrin platform to enable more efficient and precise delivery of RNA drugs to extra-hepatic tissues.
“By exploiting new mechanisms of action, centyrin-RNA conjugates have the potential to achieve superior efficacy and safety in treating intractable diseases.
“We greatly appreciate the confidence our investors have in our vision. With their support, we can rapidly progress the development of our innovative drug discovery pipeline and ultimately deliver transformative genetic medicines to patients that desperately need them.”
Shaan Gandhi of Northpond Ventures and Kevin Raidy of Cowen Healthcare Investments have joined Aro’s board of directors in conjunction with the round, which follows $13m in funding from Johnson & Johnson Innovation – JJDC and BioMotiv in 2018.
