NanoVation Therapeutics, a company developing innovative technologies to overcome barriers to nucleic acid delivery, announced the expansion of its Board of Directors and the close of a funding round led by Convergent Ventures.
These two developments preceded NanoVation’s September announcement of an up to $600 million multi-year partnership with Novo Nordisk to advance the development of novel genetic medicines targeting cardiometabolic and rare diseases.
The new funding will support the further advancement of NanoVation’s lipid nanoparticle (LNP) technology platform for RNA delivery to cells outside of the liver, including completing large animal studies. And the Board of Directors appointments include Zachariah (Zach) Jonasson, Ph.D., Chief Financial Officer (CFO) and Chief Business Officer (CBO) at Absci and co-founder of Convergent Ventures, and David Main, President and CEO of Notch Therapeutics.
The expansion of NanoVation’s Board provides expertise in emerging therapeutic technologies and nucleic acid delivery. And together, Jonasson and Main bring decades of experience building and scaling successful biotechnology companies through strategic collaborations and technology development.
Zachariah Jonasson is currently the CFO and CBO of Absci, a biotechnology company that uses generative AI at scale to create novel therapeutics. And at Absci, Jonasson serves on the executive leadership team and is responsible for the company’s financial and business strategy. He is also a co-founder of two venture capital firms, Convergent Ventures and Phoenix Venture Partners (PVP), where he previously led each firm’s investment strategy in the biotechnology sector as a General Managing Partner.
David Main has 30 years of biotechnology leadership experience. He is currently President and CEO of Notch Therapeutics, a company engineering pluripotent stem cells (iPSCs) for creating a universal T cell. Previously, he was co-founder, Chairman and CEO of Aquinox Pharmaceuticals and President and CEO of INEX Pharmaceuticals, a company developing lipid-based drug delivery systems for oncology therapeutics. Companies that spun out of INEX include Protiva Biotherapeutics and Tekmira, which was later rebranded as Arbutus Biopharma.
KEY QUOTES:
“This strategic investment and the addition of two industry veterans to our Board mark important milestones in NanoVation’s growth trajectory. Zach’s deep understanding of emerging technologies and track record of investing in and building successful biotech companies, combined with David’s extensive executive leadership experience, help position NanoVation for its next growth phase and new strategic partnerships in cell-specific nucleic acid delivery.”
- Dominik Witzigmann, Ph.D., co-founder and CEO of NanoVation Therapeutics
“The new technologies being developed at NanoVation address the existing challenges preventing the efficacious delivery of genetic medicines. I have known this pioneering team for many years and I’m excited to support their mission to usher in a new era of targeted genetic medicines for the benefit of patients.”
- Zach Jonasson
“These strategic developments – the recent partnership announcement, new funding and expansion of the board – significantly enhance NanoVation’s position as a leading innovator in nucleic acid delivery. Welcoming seasoned entrepreneurs like David and Zach strengthens our team, bringing invaluable business acumen that complements our technical expertise. Their involvement provides powerful validation of NanoVation’s potential to advance LNP technologies and reach new therapeutic frontiers.”
- Pieter Cullis, Ph.D., current Board Chair and co-founder of NanoVation
