DTx Pharma announced today the completion of a $100 million Series B financing. The financing was led by RA Capital Management with participation from new investors Access Biotechnology, Surveyor Capital (a Citadel company), Cormorant Asset Management, Janus Henderson Investors, and Logos Capital. Existing investors also participated in this financing, including lead Series A investor Friedman Bioventure Fund, Eli Lilly and Company, Viva BioInnovator (Viva Biotech Holdings, 1873.HK), and ExSight Ventures.
Proceeds from the financing will be used to advance DTx’s pipeline utilizing its novel FALCON (Fatty Acid Ligand Conjugated OligoNucleotide) platform technology. In preclinical studies, DTx has demonstrated cellular uptake and broad activity of oligonucleotides in the retina, muscle, heart, neurons, T cells, and other specialized cell types. Lead programs headed towards the clinic include those for ocular, neuromuscular, and CNS diseases. DTx also intends to continue to deploy its technology to leverage fatty acids as targeting ligands to both enable cellular uptake and promote biodistribution of RNA therapeutics to break open new therapeutic areas for this class.
“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,” said Arthur T. Suckow, Ph.D., chief executive officer of DTx Pharma. “These funds will allow us to utilize our FALCON fatty acid motifs to advance assets into clinical development across several therapeutic areas over the next few years.”
Denise Bevers, chief operating officer of DTx Pharma, added, “The support of this respected group of investors is a testament to the DTx team that works each and every day to bring disease-modifying drugs to patients with serious unmet medical need.”