ReCode Therapeutics Closes $50 Million Series B Extension

<p><strong>MENLO PARK<&sol;strong> &&num;8212&semi; ReCode Therapeutics&comma; a clinical-stage genetic medicines company using precision delivery to power the next wave of mRNA and gene correction therapeutics&comma; has closed an extension to its Series B financing&comma; raising an additional &dollar;50 million&comma; for a total of &dollar;260 million in funding&period;<&sol;p>&NewLine;<ul class&equals;"bwlistdisc">&NewLine;<li>New investors in the extension include BLV and Solasta Ventures<&sol;li>&NewLine;<li>The new investor proceeds were backed by support from existing investors&comma; including OrbiMed Advisors&comma; AyurMaya&comma; an affiliate of Matrix Capital Management&comma; Leaps by Bayer&comma; Vida Ventures&comma; MPM Capital&comma; Pfizer Ventures&comma; EcoR1 Capital&comma; Sanofi Ventures and Amgen Ventures&comma; Osage University Partners &lpar;OUP&rpar;&comma; among others<&sol;li>&NewLine;<li>Proceeds will be used to advance ReCode’s primary ciliary dyskinesia and cystic fibrosis clinical development programs and to expand the company’s proprietary Selective Organ Targeting &lpar;SORT&rpar; lipid nanoparticle &lpar;LNP&rpar; pipeline to include mRNA and gene correction therapeutics for central nervous system&comma; lung&comma; liver and musculoskeletal indications<&sol;li>&NewLine;<&sol;ul>&NewLine;<p>Kouki Harasaki&comma; Ph&period;D&period;&comma; founding and managing partner of Bioluminescence Ventures &lpar;BLV&rpar;&comma; has been named to the company’s board of directors&period; Dr&period; Harasaki is the founding and managing partner at BLV&period; He brings more than 25 years of biomedical science experience in multiple therapeutic areas across major health systems&comma; research institutes&comma; biopharmaceutical corporations&comma; technology companies and venture capital firms&period; Prior to BLV&comma; he was managing director at M12&sol;Microsoft Ventures&comma; where he led life science investments and helped develop Microsoft’s corporate strategy in the field&period; Before M12&comma; Dr&period; Harasaki was a senior partner at Andreessen Horowitz&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We are delighted to welcome Kouki to the board of directors and are confident his broad experience across many key areas such as drug discovery&comma; strategy&comma; finance and business development will be invaluable in guiding ReCode as it expands its robust clinical development plans in a number of important genetic medicine indications&comma;” said Shehnaaz Suliman&comma; M&period;D&period;&comma; MBA&comma; M&period;Phil&period;&comma; chief executive officer&comma; ReCode Therapeutics&period; &OpenCurlyDoubleQuote;We are excited with our progress to the clinic as we advance our SORT LNP delivery platform&comma; the first technology to enable highly targeted delivery of genetic medicines to organs&comma; tissues and cells including and beyond the liver&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;I am excited to join the ReCode team at this important juncture in its development&period; At BLV&comma; we focus on funding next-generation therapeutics platforms and developing first- and best-in-class programs&period; ReCode&comma; with its cutting-edge genetic medicine platform&comma; is well aligned with our mission&comma;” said Dr&period; Harasaki&period; &OpenCurlyDoubleQuote;I look forward to working with the board and the senior leadership team at ReCode to advance the next wave of genetic medicines to address a wide range of medical needs not possible with current therapies&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Throughout 2023&comma; we made tremendous progress entering the clinic&comma; strengthening our financial position and building out our leadership team to support our genetic medicines clinical development programs&comma;” added Dr&period; Suliman&period; &OpenCurlyDoubleQuote;We are delighted with the continued high level of interest in our novel approach to the targeted delivery of genetic medicines from premier venture investors&period; We remain focused on achieving important upcoming clinical milestones&comma; including dosing the first patients in our Phase 1 trial of RCT1100 for primary ciliary dyskinesia and we are also on track to file a number of investigational new drug applications with global regulators for RCT2100&comma; our cystic fibrosis candidate&comma; later this year&period;”<&sol;p>&NewLine;