Shape Therapeutics Secures $35.5M Series A Financing to Advance RNA Editing Gene Therapy Platform

VCBeat (WeChat ID: vcbeat) has learned that on November 5, 2019, biotechnology company Shape Therapeutics (ShapeTx) announced it had secured $35.5 million in Series A financing. The round was led by New Enterprise Associates (NEA), with participation from CureDuchenne Ventures.

The proceeds from this financing round will be used to expand ShapeTx’s intellectual property portfolio, recruit top scientific talent, and advance the development of its pioneering RNA and protein-targeting platforms.

ShapeTx, founded in 2018 and headquartered in Seattle, Washington, USA, is dedicated to the research of RNA-editing gene therapies. Its next-generation gene therapy platform has the potential to advance treatments for neurodegenerative diseases, tumors, metabolic disorders, and rare genetic diseases.

ShapeTx’s innovative RNAfix platform leverages adenosine deaminases acting on RNA (ADARs), tRNA inhibitors, and engineered adeno-associated virus (AAV) proteins to directly target and modify RNA in vivo. The RNAfix platform distinguishes itself from other modern genome engineering technologies by harnessing the body’s own cellular machinery to modify RNA.

Dr. Francois Vigneault, President and Chief Executive Officer of Shape Therapeutics, explained: “Our technology leverages short guide RNAs to harness naturally occurring proteins in cells, such as ADAR, thereby correcting mutations or targeting specific genes involved in neurodegenerative disorders, tumors, metabolic diseases, and rare genetic conditions. This approach avoids the risks of in vivo immunogenicity and permanent off-target damage associated with CRISPR-based methods.”

“ShapeTx’s scientific team is data-driven, and its proprietary technology platform holds immense potential,” said Ed Mathers, Partner at NEA and Board Member of ShapeTx. “They have demonstrated the efficacy of this technology across multiple in vivo models. NEA looks forward to continuing its support for the company to advance the clinical application of this technology.”

Concurrently with the completion of its Series A financing, ShapeTx will establish a world-class Scientific Advisory Board composed of leading experts in genomics, bioengineering, and gene editing, including George Church, Ph.D., James Collins, Ph.D., and Don Cleveland, Ph.D. The Scientific Advisory Board will serve as strategic advisors to ShapeTx, ensuring that the platform’s research and development adhere to the highest scientific standards.

NEA, founded in 1977, is a global venture capital firm dedicated to helping entrepreneurs build transformative businesses across stages, sectors, and geographies. Since its inception, NEA has accumulated over $20 billion in committed capital, primarily investing in technology and healthcare companies.

CureDuchenne Ventures, established in 2014, is the investment arm of CureDuchenne, a nonprofit organization dedicated to developing treatments for Duchenne muscular dystrophy. CureDuchenne Ventures leverages charitable donations to support the development of novel therapeutics for Duchenne muscular dystrophy. The entity employs an impact financing model, providing grants to academic institutions and equity financing to biotechnology and pharmaceutical companies.

(Compiled by Jiang Ying)