Ascidian Therapeutics, a Boston, MA-based biotechnology company, raised $50M in Series A funding.
The round was led by ATP.
The company intends to use the funds to expand its development efforts to extend the therapeutic potential of RNA medicines.
Led by CEO Romesh Subramanian, Ascidian Therapeutics is a biotech company whose technology enables therapeutic targeting of large genes and genes with high mutational variance while maintaining native gene expression patterns and levels. This approach is designed to provide the durability of gene therapy while reducing risks associated with DNA editing and manipulation. Ascidian’s platform deploys high-throughput molecular biology in tandem with computational biology. A single Ascidian RNA editor can replace multiple mutated exons simultaneously, without modifying DNA, thereby limiting the risk of off-target DNA edits and expression of transgenes in off-target cell types. Moreover, the technology does not require the introduction of exogenous enzymes, reducing the risk of immunogenicity.
The company is advancing its lead program for ABCA4 retinopathy in IND-enabling studies while it progresses its pipeline of programs in ophthalmology, and neurological, neuromuscular, and rare diseases.
