NEW YORK – RNAimmune announced this week that it has secured $27 million in Series A funding, with which it hopes to expedite the discovery and development of mRNA vaccines for cancer and other diseases.
The financing round was led by existing shareholders, including Sirnaomics and Smooth River, and a new investor, an investment fund managed by Rotating Boulder Fund.
The Gaithersburg, Maryland-based firm, founded in 2020, is focused on developing mRNA vaccines for cancer, infectious diseases, and rare conditions, and has a development and delivery platform to advance therapies in areas of unmet need. The firms' mRNA cancer vaccine programs will involve biomarkers and companion diagnostics and employ a precision approach, a spokesperson for the firm said.
RNAimmune will use the raised funds to advance a pan-RAS tumor vaccine it is developing with the University of California, Los Angeles. The financing will also support the company's development of the COVID-19 vaccine RIM730 and a prophylactic HSV vaccine.
"This funding fuels our ability to scale the team and expand our mRNA vaccine programs," RNAimmune Founder and President Dong Shen said in a statement. "In addition, we will verify our own next-generation AI-driven mRNA delivery platform, including a [polypeptide lipid nanoparticle] delivery system."
RNAimmune in August 2020 raised $2.3 million in angel financing and in April 2021 raised $10 million in seed funds.