SAN DIEGO, March 1, 2021 /PRNewswire/ -- DTx Pharma, Inc. (DTx), a privately-held biotechnology company creating novel RNA-based therapeutics to treat the genetic drivers of disease, 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.
"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."
In connection with this financing, Matthew Hammond, Ph.D., Principal at RA Capital Management, and Dan Becker, M.D., Ph.D., Partner at Access Biotechnology, will join DTx Pharma's board of directors.
"We are incredibly excited to support the DTx Pharma team in their efforts to advance the FALCON platform and bring RNA therapeutics to tissues that were previously inaccessible to the modality and to patients who are searching for better treatment options," said Matthew Hammond. "I look forward to joining the board and working with the management team to position DTx for success."
Proceeds from the financing will be used to advance DTx's pipeline utilizing its novel FALCON (Fatty Acid Ligand Conjugated OligoNucleotide) platform technology. The Company will accelerate the march toward the clinic for its lead programs across ocular, neuromuscular, and CNS diseases, and will 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.
About DTx Pharma
DTx Pharma, Inc. is a privately-held biotechnology company based in San Diego, CA creating novel RNA-based therapeutics to treat the genetic drivers of disease. The company's proprietary delivery technology platform utilizes fatty acids as targeting ligands to enable the delivery of oligonucleotide therapies to tissues and cell types throughout the body. 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. To advance the FALCON platform toward and into clinical development, DTx has raised more than $100M in combined investment from several of the world's leading healthcare investors including RA Capital Management and Access Biotechnology, pharmaceutical companies such as Eli Lilly and Company, the National Institute of Health (NIH), and research foundations such as the CMT Research Foundation (CMTRF). To learn more about DTx Pharma, please visit www.dtxpharma.com and follow DTx on LinkedIn and Twitter @DTxPharma.