US-based RNA therapeutics developer DTx Pharma has closed a $100m series B round that included pharmaceutical firm Eli Lilly and Access Biotechnology, a subsidiary of conglomerate Access Industries.
Investment manager RA Capital Management led the round, which included Surveyor Capital, Cormorant Asset Management, Janus Henderson Investors, Logos Capital, Friedman Bioventure Fund, ExSight Ventures and Viva BioInnovator, part of holding company Viva Biotech Holdings.
DTx is working on drugs intended to treat diseases by addressing their genetic drivers. Its Falcon technology platform involves fatty acids being used as targeting ligands so oligonucleotide therapies can be delivered to tissues and cells throughout the body
Arthur T. Suckow, DTx Pharma’s CEO, said: “The DTx Pharma team has uncovered new ways to leverage fatty acids to overcome some of the challenges that have greatly limited RNA therapeutics as a class.
“These funds will allow us to utilise our Falcon fatty acid motifs to advance assets into clinical development across several therapeutic areas over the next few years.”
Access Biotechnology partner Dan Becker is joining the company’s board of directors in connection with the round, as is Matthew Hammond, principal at RA Capital Management.
Friedman Bioventure Fund led DTx’s $10.6m series A round in January 2020, investing alongside Eli Lilly, Viva Biotech, ExSight Ventures, Tech Coast Angels San Diego and undisclosed others, with both Friedman and Tech Coast Angels described as existing backers.
