City Therapeutics, a new biotech firm based in Cambridge, Massachusetts, is poised to make significant strides in RNA interference (RNAi) medicine, having successfully closed a $135 million Series A financing round. This impressive funding was led by Arch Venture Partners, with contributions from Fidelity Management & Research, Regeneron Ventures, and other notable investors.
Innovative Approach to RNAi Medicines
The core mission of City Therapeutics is to develop RNAi-based therapeutics by engineering small interfering RNAs (siRNAs). These siRNAs are designed to enhance the therapeutic potential of RNAi medicines, allowing for a broader range of applications. According to a company release on October 8, City Therapeutics plans to advance its first program into clinical trials by the end of next year, with a goal of generating one to two investigational new drug applications annually starting in 2026.
Leadership with Proven Expertise
At the helm of City Therapeutics is John Maraganore, Ph.D., co-founder and executive chair. Maraganore previously served as the founder and CEO of Alnylam Pharmaceuticals, a pioneering company in RNAi therapeutics. Joining him are several former colleagues from Alnylam, including Mark Keating, M.D., a former lead scientist, and Tracy Zimmermann, Ph.D., who now serves as the chief scientific officer at City.
Maraganore emphasized the groundbreaking potential of RNAi in the biotech landscape, stating, “At Alnylam, we launched the birth of RNAi therapeutics as a new class of medicines, making a profound difference in the lives of patients with unmet needs.” He envisions RNAi evolving into a major category of impactful medicines, rivaling the success of monoclonal antibodies.
A Strong Board of Advisors
City Therapeutics boasts a robust board that includes Barry Greene, former president and CEO of Alnylam and current CEO of Sage Therapeutics. Other co-founders include Robert Nelson, managing director and co-founder of Arch; Ari Nowacek, M.D., Ph.D., senior vice president of corporate development at Arch; and Sebastian Trousil, Ph.D., chief operating officer.
Continued Growth in Biotech Ventures
John Maraganore’s influence in the biotech sector is notable, as he continues to support emerging companies. Just a day prior to City Therapeutics’ announcement, Judo Bio secured $100 million for developing oligonucleotide medicines targeting kidney conditions, with Maraganore as an advisor. In September, a new venture founded by George Church raised $75 million for its cell therapy technology, with Maraganore joining its board.
Since departing from Alnylam in early 2022, Maraganore has committed himself to fostering innovation and mentoring early-stage biotechs, and his latest venture, City Therapeutics, is a testament to his dedication to advancing RNAi technology for the benefit of patients worldwide.
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