RyboDyn announced the discovery of a new proteome and the successful closing of a $4 million pre-seed financing round to advance its mission of targeting the dark proteome to develop novel immunotherapies. The funding round was co-led by Genedant Capital and SeaX Ventures, with significant participation from SOSV and Swell VC as part of the investment syndicate.
Highlighting the urgent need for innovative strategies to overcome cancer, RyboDyn developed a proprietary RNA sequencing technology, RyboCypher, to enable high-throughput detection of RNA molecules overlooked by existing next-generation sequencing methods. And the first datasets generated using the RyboCypher sequencing method revealed a hidden or cryptic human proteome consisting of thousands of previously undiscovered proteins.
DNA is transcribed into RNA, which is then translated into proteins. But only about 2% of the genome encodes for proteins, while the remaining 98% consists of non-coding regions once dismissed as junk DNA or the dark genome. And RyboDyn’s discovery reveals that some non-coding regions can encode proteins, which play pivotal roles in diseases such as cancer.
Many newly discovered proteins are exclusively expressed in cancer cells and are absent in healthy tissue, making them ideal targets for cancer immunotherapy. And the novel proteins are further triaged through RyboDyn’s proprietary computational pipeline, prioritizing cancer-specific druggable peptides located on the cell surface—designated as Dark Targets.
This novel proteome was discovered by Dr. Dambacher and RyboDyn Co-founder Ashley Woodfin while at Oregon Health & Science University (OHSU) Knight Cancer Institute. This finding was independently validated on cell surfaces by Dr. Alex Jaeger, RyboDyn advisor and academic Co-founder at Moffitt Cancer Center in Tampa, FL, a leading authority in cancer immunotherapy.
Even though the initial focus is on advancing cancer immunotherapies, the RyboDyn team believes the newly discovered dark proteome can address many diseases, such as immunology and neurology, where long-term therapeutic solutions for these debilitating conditions are currently lacking.
Along with its target discovery capabilities with RyboCypher, RyboDyn has licensed the patent rights to three additional OHSU technologies. And these patent rights encompass innovative methods for single-cell functional drug profiling and spatial biology applications designed to enhance patient stratification. By leveraging this proprietary IP portfolio, RyboDyn is driving the development of cutting-edge biologics internally and through strategic partnerships.
The new funding round will drive RyboDyn’s efforts to expand target discovery and accelerate drug development. And by collaborating with leading academic institutions and biopharma partners, the company is advancing conserved targets with broad therapeutic potential.
KEY QUOTES:
“We knew this class of RNA molecules existed in cells before we developed RyboCypher to observe them at high resolution. What we didn’t realize was how much protein is being produced from them. Our initial experiments allowed us to identify over 8,000 undiscovered fragments of proteins called peptides, on the surface of cells, and about 1,000 of these appear to be specific to cancer cells. We now have a scalable way to find and validate these peptides for making new immunotherapies.”
– Dr. Corey Dambacher, Co-founder and President of RyboDyn and the creator of the RyboCypher sequencing method
“RyboDyn came to us with a major breakthrough in target discovery. We got really excited when we understood just how scalable and widely applicable their target discovery and validation approach is across many different diseases. RyboDyn’s novel approach has significant potential to unlock the next developmental leap in therapeutics.”
– August Lee, Principal at Genedant Capital and a lead investor in RyboDyn
“What sets RyboDyn apart from other dark genome startups is their novel method for visualizing a dark proteome that others can’t see. Some of the proteins they’ve discovered appear to be conserved across multiple cancer types, which excites us because it holds the potential to help more patients and significantly expand the addressable market.”
– Po Bronson, General Partner at venture fund SOSV and Managing Director of IndieBio SF, an SOSV deep tech program in San Francisco
“When Alex independently confirmed our discovery on cell surfaces, it gave us tremendous confidence that we were on the right track. We immediately recognized the therapeutic potential of our Dark Targets, which could enable the development of entirely new first-in-class cancer therapies.”
“Our goal is to build a premier pipeline of first-in-class, next-generation immunotherapies, developed both internally and in partnership with large pharmaceutical companies.”
– Dr. Imad Ajjawi, CEO and Co-founder of RyboDyn
“Discovering such a vast set of previously uncharacterized proteins from the dark proteome is exceptionally rare. These novel proteins offer untapped potential for therapeutic discovery and position RyboDyn as a leader in developing first-in-class cancer immunotherapies. At SeaX, we’re focused on identifying companies that have the potential to disrupt entire industries. With our extensive networks in the pharmaceutical and healthcare industry, we are eager to help RyboDyn explore strategic opportunities and navigate this rapidly growing market to unlock additional value in the region.”
– Dr. Kid Parchariyanon, Founder and Managing Partner at SeaX Ventures, who co-led the funding round with Genedant Capital
“The timing is perfect. The dark genome space is heating up, and RyboDyn has the right team and approach to make a significant impact on patients’ lives.”
– Rusty Ralston, Managing Partner at Swell VC
