Shape Therapeutics Secures $112 Million in Series B Financing to Advance Breakthrough RNA Technology Platforms to Democratize Gene Therapy
SEATTLE, July 15, 2021 (GLOBE NEWSWIRE) -- Shape Therapeutics Inc. (ShapeTX), a biotechnology company developing RNA technologies to shape the future of gene therapy, today announced the completion of a $112 million Series B financing round co-led by Decheng Capital and Breton Capital, with participation from Willett Advisors, and continued participation from New Enterprise Associates, and Mission BioCapital. Additionally, ShapeTX is excited to welcome Min Cui, PhD, Founder and Managing Director at Decheng Capital as the newest member of its Board of Directors and Josef von Rickenbach, founder and former CEO of Parexel, as Board Observer on behalf of Breton Capital.
ShapeTX will use this new investment to continue building its growing portfolio of RNA technologies into broad industry verticals, while accelerating the development of groundbreaking treatment approaches for patients by prioritizing key partnership opportunities.
“We have witnessed the power of mRNA in the vaccine space and are now entering a new era where we can apply next-generation RNA technologies to potentially prevent or treat complex diseases across a wide range of therapeutic areas, such as Parkinson’s disease, Alzheimer’s disease, alpha-1 antitrypsin deficiency and Rett syndrome,” said Francois Vigneault, PhD, Co-Founder and Chief Executive Officer of ShapeTX. “We are pleased with the tremendous support from our current and new investors and appreciate the confidence they have placed in our entire team as we continue to harness the potential of RNA therapeutics to redefine th standard of care for genetic diseases.”
ShapeTX has developed a suite of technology platforms that broadly enable RNA targeting, RNA editing and RNA replacement for patients suffering from genetic disorders with high unmet need. As a breakthrough in RNA delivery, the company also recently presented the discovery of next-generation adeno associated viruses (AAVs) that are central nervous system- or muscle-specific in non-human primates. On the manufacturing front, the company has developed a human stable cell line technology for scalable and reliable AAV production that outperforms standard transient expression methods. ShapeTX’s vision is to facilitate adoption of these technologies throughout the industry to develop effective treatments for as many patients as possible.
“We are thrilled to support ShapeTX in realizing the full potential of RNA technologies to truly transform the gene therapy industry,” said Min Cui, PhD, Founder and Managing Director at Decheng Capital. “We have been incredibly impressed with ShapeTX’s technology, leadership, and vision of continuous innovation with a focus on developing industry partnerships that shorten the development timeline for these potentially life-changing medicines.”
About Shape Therapeutics Inc.
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