Total amount raised
$357 Millions
Latest funding date
Location
ReCode Therapeutics has successfully raised significant funding through multiple rounds, with notable investors such as the Cystic Fibrosis Foundation and OrbiMed. The company specializes in genetic medicines, leveraging its innovative SORT LNP platform to deliver precise therapies for conditions like cystic fibrosis and primary ciliary dyskinesia.
Keep reading to explore the intricacies of ReCode Therapeutics' fundraising journey and the investors backing this pioneering platform.
What Is ReCode Therapeutics?
ReCode Therapeutics, founded in 2015 by Daniel Siegwart, Michael Torres, and Philip Thomas, is a biotechnology company based in Dallas, Texas. The company operates in the biopharma, biotechnology, genetics, pharmaceutical, and therapeutics industries.
Specializing in genetic medicines, ReCode Therapeutics focuses on mRNA and gene correction therapeutics. Utilizing its proprietary Selective Organ Targeting (SORT) lipid nanoparticle (LNP) platform, the company aims to deliver precise genetic therapies to target organs and cells beyond the liver.
With an employee count ranging from 11 to 50, ReCode Therapeutics is dedicated to developing innovative solutions for genetically defined diseases such as primary ciliary dyskinesia and cystic fibrosis.
How Much Funding Has ReCode Therapeutics Raised?
- Seed Round
- Amount Raised: $2M
- Date: February 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop early-stage research.
- Series A
- Amount Raised: $80M
- Date: March 2020
- Lead Investors: Colt Ventures, OrbiMed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the development of their SORT LNP platform and gene correction therapies.
- Series B
- Amount Raised: $80M
- Date: October 2021
- Lead Investors: EcoR1 Capital, Pfizer Venture Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand clinical trials and scale up production capabilities.
- Series B
- Amount Raised: $120M
- Date: June 2022
- Lead Investors: Leaps by Bayer, Matrix Capital Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further clinical development and enhance their therapeutic pipeline.
- Venture Round
- Amount Raised: $10M
- Date: January 2023
- Lead Investors: Cystic Fibrosis Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development for cystic fibrosis therapies.
- Series B
- Amount Raised: $50M
- Date: September 2023
- Lead Investors: Bioluminescence Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the commercialization of their genetic medicines.
- Venture Round
- Amount Raised: $15M
- Date: November 2024
- Lead Investors: Cystic Fibrosis Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop a gene editing therapy for lung cells in people with cystic fibrosis.
ReCode Therapeutics has raised a total of $357M. The current valuation is not publicly disclosed.
Key Investors
- Cystic Fibrosis Foundation
- Details: The Cystic Fibrosis Foundation is a non-profit organization dedicated to funding research and drug development for cystic fibrosis. It aims to find a cure and improve the quality of life for those affected by the disease.
- Investment Focus Areas: Cystic fibrosis research, drug development, patient care.
- Notable Investments: Various cystic fibrosis research projects, drug developments, and therapies.
- OrbiMed
- Details: OrbiMed is a healthcare-dedicated investment firm with a focus on biopharma, medical devices, and healthcare services. It manages approximately $18 billion in assets across public and private markets.
- Investment Focus Areas: Biopharma, medical devices, healthcare services.
- Notable Investments: Multiple biopharma companies, medical device startups, healthcare service providers.
- EcoR1 Capital
- Details: EcoR1 Capital is a biotech-focused investment firm that partners with companies to develop innovative therapies. The firm is known for its deep scientific expertise and strategic investments.
- Investment Focus Areas: Biotechnology, pharmaceuticals, life sciences.
- Notable Investments: Multiple biotech startups, pharmaceutical companies, life sciences ventures.
- Pfizer Venture Investments
- Details: Pfizer Venture Investments is the venture capital arm of Pfizer Inc., focusing on investing in innovative biopharmaceutical companies. It aims to support the development of breakthrough therapies.
- Investment Focus Areas: Biopharmaceuticals, healthcare innovation, drug development.
- Notable Investments: Various biopharmaceutical companies, healthcare technology firms, drug development projects.
- Leaps by Bayer
- Details: Leaps by Bayer is the investment arm of Bayer AG, focusing on breakthrough innovations in life sciences. It aims to address some of the world's biggest challenges in health and agriculture.
- Investment Focus Areas: Life sciences, healthcare, agriculture.
- Notable Investments: Multiple life sciences startups, healthcare innovations, agricultural technologies.
What's Next for ReCode Therapeutics?
ReCode Therapeutics stands at the cusp of a transformative opportunity with its gene editing therapy for cystic fibrosis. Backed by a $15 million investment, the company aims to deliver this innovative treatment directly to lung cells, potentially revolutionizing care for the 70,000 people affected worldwide. This significant market opportunity could pave the way for further expansion into other gene editing therapies.
As the therapy progresses through development stages, ReCode is poised to attract additional funding from venture capitalists, foundations, and pharmaceutical companies. The growing interest in targeted genetic therapies and increasing investments in gene editing technologies bolster their prospects. However, the path ahead is not without challenges. Technical hurdles, regulatory requirements, and competition in the gene therapy space will test ReCode's resilience and innovation.
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