April 16, 2021 -- Biosplice Therapeutics has closed $120 million in equity financing to support clinical development of lorecivivint, its small-molecule candidate in phase III clinical development for the treatment of osteoarthritis.
With the new funds, the company expects to advance new programs based on its alternative premessenger RNA (pre-mRNA) splicing technology in the areas of oncology and neurology. Alternative splicing is an essential biological process that regulates the diversification of proteins in a cell and helps determine cell type and function.
Biosplice's target molecules govern the selection of tissue-specific mRNA splice sites, making them druggable targets.
Investors included Eventide Asset Management, aMoon, SymBiosis II, Sands Capital, and Verition Fund Management.
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