ReCode Therapeutics Announces Over $29 Million in Additional Financing to Advance Genetic Medicines Pipeline and Provides Corporate Update
– Cystic Fibrosis Foundation provides $3 million in new funding to accelerate development of inhaled mRNA therapy for cystic fibrosis –
– Research collaboration with Praxis Precision Medicines to develop LNP formulations for ASO delivery –
ReCode Therapeutics, a clinical-stage genetic medicines company using tissue-specific delivery to power the next wave of mRNA and gene correction therapeutics, today announced the close of over $29 million in additional financing. The company also reported expanded support from the Cystic Fibrosis Foundation (CF Foundation) and a new research collaboration with Praxis Precision Medicines, Inc. (NASDAQ: PRAX).
"With continued support from organizations like the CF Foundation and our collaboration with Praxis, we are building on our momentum to deliver on the promise of genetic medicines for people living with genetic diseases who currently have limited or no effective treatments," said Shehnaaz Suliman, M.D., MBA, M.Phil., chief executive officer of ReCode Therapeutics.
Key Updates
- Over $29 Million Raised in New Financing: ReCode has raised more than $29 million to advance its pipeline of genetic medicines, including investigational therapies for cystic fibrosis (CF). The funding strengthens the company's financial foundation as it progresses its clinical and preclinical programs.
- Expanded Support from the CF Foundation: The CF Foundation, which previously invested $15 million to support the development of and early-stage clinical trials for RCT2100, an inhaled mRNA therapy, is committing an additional $3 million to support the company's ongoing Phase 2 clinical trial of RCT2100. RCT2100 is designed to provide functional CFTR protein by delivering a correct copy of CFTR mRNA to lung cells, offering potential benefits to all people with CF, including those with rare and nonsense mutations who do not benefit from existing modulator therapies. In total, the Foundation has agreed to invest up to $33 million in ReCode's mRNA and gene editing research programs. For more information, please visit www.CF-Clinical-Studies.com.
- Partnership with Praxis Precision Medicines for ASO Delivery: ReCode has entered into a research collaboration with Praxis Precision Medicines, Inc., a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance, to identify a well-tolerated lipid nanoparticle (LNP) formulation that enhances the delivery of antisense oligonucleotides (ASOs) to underexposed brain regions.
- ERS and NACFC Attendance: ReCode leadership will attend the European Respiratory Society (ERS) Congress in Amsterdam, Netherlands, from September 27 to October 1, and the North American Cystic Fibrosis Conference (NACFC) in Seattle from October 22-25.
About ReCode Therapeutics
ReCode Therapeutics is a clinical-stage genetic medicines company using precision delivery to power the next wave of mRNA and gene correction therapeutics. ReCode's proprietary Selective Organ Targeting (SORT) lipid nanoparticle (LNP) platform enables highly precise and targeted delivery of genetic medicines directly to the organs, tissues, and cells implicated in disease, enabling improved efficacy and potency.
ReCode's lead programs include RCT2100 for the treatment of the 10% of people with cystic fibrosis who have genetic mutations in the CFTR gene that do not respond to currently approved CFTR modulators or those intolerant of approved CFTR modulators, and RCT1100 for the treatment of primary ciliary dyskinesia caused by pathogenic mutations in the DNAI1 gene. RCT1100 and RCT2100 are inhaled disease-modifying mRNA-based therapies formulated with the SORT LNP delivery platform.
For more information, visit www.recodetx.com and follow us on LinkedIn and Instagram.
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ReCode Contacts
Investors:
Anne Marie Fields
Precision AQ
[email protected]
[email protected]
Media:
Tara Cooper
The Grace Group
[email protected]