NextRNA launches with $56M in funding to develop noncoding RNA therapeutics

By The Science Advisory Board staff writers

March 2, 2022 -- NextRNA Therapeutics has launched with $9.3 million in seed financing and $46.8 million series A financing. Proceeds will be used by the company to augment its target and drug discovery engine, expand its pipeline, and advance lead programs.

NextRNA Therapeutics is a biotechnology company focused on unlocking the potential of non-coding RNAs to develop transformative therapeutics.

The vast majority of DNA is copied into RNAs that do not make proteins. These RNA molecules, called “non-coding RNAs”, play essential roles in cells by interacting with and modulating the activities of proteins. These interactions can drive pathogenic processes in multiple disease areas, including oncology, immunology, and neurology. Non-coding RNAs, in particular long non-coding RNAs, and their interacting proteins therefore represent a vast and untapped class of novel therapeutic targets.

NextRNA was established based on pioneering work by Dr. Carl Novina, PhD, at Dana-Farber Cancer Institute. Since its founding in January of 2021, NextRNA has established its initial team, built out the target and drug discovery engine, and advanced two small molecule programs in oncology and immunology.

The series A financing was led by Cobro Ventures and Lightchain Capital with additional participation also came from Circle Alternative Investments, Evans Capital, Jefferies, Rivas Capital, and Willett Advisors.

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