Pharmaceutical company Arrakis Therapeutics has raised $75m to develop targeted RNA therapies. The company, which was founded in 2013, said it had received a $125m investment from the US Department of Defense and that its first product would be an RNAi treatment for cancer. Arrakis said it would use the funding to bring at least one of its RNA therapies to clinical development and had a focus on oncology and other diseases. The company has $100m of funding.
Pharmaceutical company Arrakis Therapeutics has raised $75m to develop targeted RNA therapies. The Nextech Invest and venBio Partners-led series B funding was also backed by new investors Omega Funds, HBM Healthcare, GV, WuXi AppTec Venture and Alexandria Venture Investments, along with existing backers including Canaan Partners, Advent Life Sciences, Pfizer Ventures, Celgene, Osage University Partners and Henri Termeer. Arrakis said it would use the funding to bring at least one of its RNA therapies to clinical development and had a focus on oncology and other diseases. The company has $100m of funding.