Aug 7, 02:40 PM

Strand Therapeutics Secures $153 Million to Advance Programmable mRNA Cancer Drugs

Strand Therapeutics has raised $153 million in a Series B round led by Swedish investment firm Kinnevik, one of the largest recent financings for an mRNA-focused biotech. Venture arms of Regeneron and Amgen joined the round, while Eli Lilly, Iconiq and Playground Global returned as investors. The infusion lifts the Cambridge, Massachusetts-based company’s total funding to roughly $250 million and values it at about $550 million, according to figures cited by Forbes. Proceeds will accelerate clinical development of STX-001, a programmable self-replicating mRNA therapy that triggers tumors to secrete the immune-stimulating cytokine interleukin-12. Interim Phase 1 results presented in June showed a confirmed complete response and several partial responses in patients with solid tumors that had stopped responding to checkpoint inhibitors, alongside evidence of systemic immune activation. Strand intends to broaden the ongoing Phase 1/2 trial of STX-001 and progress earlier candidates, including STX-003, a systemically delivered, tumor-targeted mRNA therapy designed to avoid off-target liver toxicity. Chief Executive Officer Jake Becraft said the financing positions the company to build “the leading platform” in programmable RNA medicines as it aims for its first product approval by 2030.

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Strand Therapeutics Secures $153 Million to Advance Programmable mRNA Cancer Drugs

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