AIRNA, a biotech company pioneering RNA editing therapeutics to transform patients’ lives with rare and common conditions, announced the closing of an oversubscribed $155 million Series B financing. The funding was led by Venrock Healthcare Capital Partners, co-led by Forbion Growth, and included participation from RTW Investments, Nextech Invest, ARCH Venture Partners, Forbion Ventures, ND Capital, and other new and existing investors.
AIRNA will use the funding to advance its lead RNA editing product candidate (AIR-001) for AATD into a Phase 1/2 clinical trial, and to develop a pipeline of novel RNA-editing medicines for cardiometabolic and other diseases.
AATD is caused by mutations in the SERPINA1 gene that lead to insufficient levels of functional alpha-1 antitrypsin (M-AAT) protein, which results in lung and liver disease. And AIR-001 precisely repairs the most common, harmful SERPINA1 mutation (PiZ) to address the underlying cause of both lung and liver disease and restore functional M-AAT production. AIR-001 was designed for potent and durable M-AAT production, convenient, subcutaneous dosing, and well-tolerated safety to give patients a preferred therapeutic option.
AIRNA’s proprietary platform utilizes natural mechanisms to potently edit a target RNA with a safe and flexible medicine. Precise RNA editing has the unique potential to safely introduce beneficial genetic variants that promote optimal health and repair disease-driving mutations, such as those causing AATD. AIRNA identifies variants that drive health through human genetics and is developing new medicines to transform the lives of patients with cardiometabolic and other diseases.
Along with this financing, AIRNA announced the appointment of Melissa McCracken, Ph.D., a partner at Nextech Invest, to the Board of Directors. Dr. McCracken has a track record of growing the next generation of innovative biopharma companies, with a focus on precision approaches.
KEY QUOTES:
“AIRNA is developing a new class of genetic medicines that could provide functional cures for a wide range of diseases. This partnership of new and existing investors allows us to rapidly deliver AIR-001 to patients with AATD, as well as progress a pipeline of medicines to realize the full potential of RNA editing.”
- Kris Elverum, President and Chief Executive Officer of AIRNA
“Patients with AATD have limited therapeutic options, and AIRNA is developing a potentially best-in-class medicine that has been optimized for potency, durability, and safety. Venrock is thrilled to collaborate with the tremendous team at AIRNA, and a world-class investor syndicate, to bring novel RNA editing medicines to patients.”
- Ken Greenberg, M.D., partner at Venrock Healthcare Capital Partners
“AIRNA’s innovative approach to RNA editing has the distinctive potential to improve health across large populations by introducing healthy genetic variants for many conditions. We are excited to support the expansion of AIRNA’s pipeline of life-changing medicines and the advancement AIR-001 into the clinic.”
- Dirk Kersten, Managing Partner at Forbion
