Millions of dollars in funding and new board members for mRNA company eTheRNA
mRNA technology company eTheRNA raised €39m ($38.7m) in Series B2 funding.
Belgium-based eTheRNA will use the money to increase investment in its integrated mRNA technology platform and pursue new initiatives for a partnership-driven business strategy.
The cycle was led by Novalis LifeSciences LLC with the participation of Professor Kenneth Chien, an expert in mRNA technology and its therapeutic applications.
Existing investors including LSP (now known as EQT Life Sciences), PWV, Grand Pharma, Fund+, Omega Fund also participated in the financing.
board of directors
Alongside this investment round, the two new investors Chien, co-founder of Moderna Therapeutics and professor at the Karolinska Institute in Stockholm, Sweden, and Marijn Dekkers, founder and chairman of Novalis LifeSciences LLC, will join the board of administration of the company.
Chien said, “I am delighted to join eTheRNA as an investor and board member. eTheRNA’s specialist expertise and proprietary knowledge in mRNA technologies and cLNPs is consistent with my vision for the future in which increasingly sophisticated cLNP designs will lead to new applications in a range of diseases. currently incurable.
“I look forward to applying my knowledge and expertise to help eTheRNA achieve this ambition.”
Marijn Dekkers, President of Novalis LifeSciences, said, “We are thrilled to lead this new funding round for eTheRNA and help propel the company to contribute its breakthrough technologies to the development of mRNA-based therapies, an area which is full of unimaginable opportunities. as the coronavirus (COVID19) vaccine has shown us.
Additionally, eTheRNA announced the departure of its CEO, Steven Powell, and the appointment of current COO, Bernard Sagaert, as interim CEO.
The business model of eTheRNA
Since its inception in 2013, eTheRNA has established an integrated set of proprietary capabilities for an end-to-end solution to design, develop and manufacture next-generation mRNA products based on enabling technologies.
eTheRNA’s new business model will provide products to partners in both early-stage research and later development of mRNA therapies.
eTheRNA will leverage its molecular designs, expertise in lipid biochemistry, custom lipid nanoparticle (cLNP) formulations, mRNA-based T cell adjuvants, and advanced manufacturing processes to overcome current challenges facing the development of mRNA-based therapies.
By expanding its expertise in the design, synthesis and manufacturing of cLNPs with an array of properties suitable for a range of prophylactic and therapeutic indications, the company says its business model will enable it to accelerate near-term revenue growth. through technology licensing and cGMP mRNA manufacturing services for multiple future partners.