Ring Therapeutics, a US-based gene therapy developer, has secured $117m in a series B round backed by UPMC Enterprises, the commercialisation arm of University of Pittsburgh Medical Center, a health system closely aligned with the institution.
The round was also backed by Flagship Pioneering, Invus, Altitude Life Science Ventures, Partners Investment, funds and accounts advised by T Rowe Price Associates and unnamed others.
Founded in 2017 by Flagship Pioneering, Ring Therapeutics is working on anellovirus-based vector candidates for gene therapies.
Anellovirus causes no harm to the human body and vectors do not integrate with a patient’s existing DNA, thereby potentially overcoming some of the limitations currently presented by gene therapy. Ring is the first company to use anellovirus as the basis for drug candidates.
The company has not yet disclosed its initial target area but hopes to eventually cover a wide range of conditions such as oncology, cardiology, ophthalmology and central nervous system disorders.
The series B capital has been allocated to the further development and expansion of Ring’s platform.
Flagship Pioneering supplied $50m in series A capital in January 2020.
– This article first appeared on our sister site, Global University Venturing.
