December 14, 2020 -- Locanabio has raised $100 million in a series B funding round to further develop its novel RNA-targeting platform and to advance multiple programs to investigational new drug-enabling studies in 2021.
The financing will help the company expand its technology platform to pursue a broad range of therapeutic indications. Locanabio is currently focused on developing RNA-targeted gene therapies to treat multiple genetic diseases with no approved therapeutic alternatives, including Huntington's disease, spinocerebellar ataxia type 1, myotonic dystrophy type 1, genetic forms of amyotrophic lateral sclerosis, and retinal diseases.
The company's technology platform combines gene therapy and RNA modification, which uses adeno-associated viral vector gene therapy delivery to precisely modify dysfunctional RNA.
As a result of the round of financing, the company announced that Dr. Rajul Jain, director of Vida Ventures, will join Locanabio's board of directors. Vida Ventures led the financing, along with other new and prior investors.
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