MIT mRNA therapeutics spinout Strand has secured series A funding from BeiGene, Redmile Group, Camford Capital, Playground Global and Anri.
Strand Therapeutics, a US-based messenger RNA (mRNA) drug developer spun out of Massachusetts Institute of Technology (MIT), secured $52m in series A funding yesterday.
Biopharmaceutical company BeiGene provided the cash along with hedge fund manager Redmile Group and venture capital firms Camford Capital, Playground Global and Anri.
Founded in 2017, Strand is working on mRNA drugs to treat cancer and other diseases by acting through several mechanisms to attack solid tumours while reducing toxicity to the rests of the body.
The company’s technology is based on research by co-founders Jacob Becraft, Tasuku Kitada, Darrell Irvine and Ron Weiss MIT’s Synthetic Biology Center.
Strand said the round boosted its overall funding to $66m. Playground Global had led its $6m seed round in mid-2019, participating alongside Anri and Alexandria Venture Investments, the VC arm of life science-focused real estate investment trust Alexandria Real Estate Equities.
