On August 22, Novartis announced that it has jointly established with renowned investment firm Versant Ventures a new company focused on developingxBiotechnology of RNA TherapeuticsCompanyBorealis Biosciences, and both parties will jointly provide$150 million for the Series A financing of the new company. In addition, Novartis has committed to providingBorealis BiosciencesProvideUp to 100 million US dollarsStrategic Research Collaboration Funding.Borealis Biosciences will utilize Novartis'The xRNA technology platform develops therapies targeting natural human mRNA to modulate the production of disease-causing proteins, thereby achieving disease treatment.As part of the cooperation agreement, Novartis will have the right toIn the hands of Borealis BiosciencesAcquisition of Two UnProjects available for development to expand its presence in the nephrology field. In return,Borealis BiosciencesEligible to receive up to $750 million in total consideration, including clinical and regulatory milestones.In recent years, there have been several positive developments in the field of IgA nephropathy, including twoMedicineThingApproved for Marketing (Nefecon andYipuKepan）、atrasentanPositive results were achieved in the Phase III study, etc.However, there are still other highly prevalent kidney diseases that have not seen positive progress. Moreover, some verifiedPathogenicThe target is not suitable.Development TraditionSmall molecule drugs or biologics. This isThe founding purpose of Borealis Biosciences is also the reason why Novartis invested in creating this company.Borealis Biosciences Aims to Combine Scientific and Translational Breakthroughs toRNA therapy can be used to address the major unmet needs of patients with kidney diseases. The company's current staff includes former employees fromSeveral key members of Chinook Therapeutics.Versant VenturesGeneral ManagerAlsoBorealis BiosciencesChairman of the Board, Dr. Jerel Davis, said:“In the past six years,We have recognized that certain deeply validated kidney disease targets cannot be developed into drugs through traditional methods.Borealis Biosciences possessesDeveloping drugs for these targetsPotential, and can deliver the drug to the patients who need it most. We are delighted to collaborate closely with Novartis in launching this startup, which isVersant Ventures"Another achievement in building an innovative drug company with industry leaders."Copyright © 2024 PHARMCUBE. All Rights Reserved.
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