Ribometrix Secures $7.8M in Funding to Advance Its 3D RNA-Targeted Small Molecule Drug Discovery Platform

Recently, VCBeat (WeChat ID: vcbeat) learned that biotechnology startup Ribometrix has announced a $7.8 million financing round to advance its targeted RNA drug discovery platform. The funding came from the company’s existing investors, Dementia Discovery Fund and Illumina Ventures.

The new funding will support the continued development of Ribometrix’s discovery platform, which employs sophisticated structural analysis and proprietary assay technologies to identify ligands that bind to highly structured pockets in therapeutic RNA targets, thereby modulating protein expression. Ribometrix’s approach is designed to discover selective, orally bioavailable small molecules that bind to RNA and exhibit broad tissue distribution and bioavailability.

Alongside securing financing, Ribometrix also announced the appointment of Mike Clayman, M.D., as Chairman of the Board.

Ribometrix is a platform therapeutics company founded in 2014 by Katie Warner in Greenville, South Carolina. Ribometrix is dedicated to discovering small-molecule drugs that target functional 3D RNA structures for the treatment of human diseases. The Ribometrix team leverages technologies invented in the laboratory of its founder, Dr. Kevin Weeks, along with expertise in 3D structural analysis and RNA functional assays, to drive its discovery platform.

“Thanks to our supporters for their additional investment,” said Dr. Michael Solomon, Chief Executive Officer. “We will advance toward our goal of expanding the range of druggable targets by identifying and optimizing functionally active RNA modulators.”

Dr. Clayman, who has recently joined the Board of Directors of Ribometrix, co-founded Flexion Therapeutics in 2007 and has since served as its President and Chief Executive Officer, overseeing the discovery and development of ZILRETTA® for the treatment of knee pain associated with osteoarthritis. He also serves as Chairman of Anokion SA, a Swiss biotechnology company dedicated to the treatment of autoimmune diseases.

Prior to founding Flexion, Dr. Clayman held leadership positions at Eli Lilly and Company, where he led numerous departments spanning discovery research, clinical investigation, and global regulatory affairs. He served as General Manager of Chorus, Lilly’s early development accelerator, and as Vice President of the Lilly Research Laboratories.

Prior to joining Eli Lilly and Company, Dr. Clayman served as an Assistant Professor at the Perelman School of Medicine at the University of Pennsylvania, where his research primarily focused on the immunopathogenesis of kidney diseases. Dr. Clayman is a recipient of the NIH Physician-Scientist Award and holds a bachelor’s degree from Yale University and an M.D. from the University of California, San Diego School of Medicine.

Dr. Clayman stated, “Ribometrix has the potential to transform the landscape of ‘druggable’ targets through its 3D structural analysis tools. I am delighted to collaborate with this premier team, as they have pioneered novel approaches to modulating RNA with small molecules. The technologies they have developed hold the promise of delivering new therapeutic options for patients in need.”

The Dementia Discovery Fund (DDF) is a venture capital fund with two branches located in London, UK, and Boston, US. The fund aims to promote the development of effective treatments for dementia, focusing on new drugs and therapies in areas such as inflammation, immunology, microglial function, membrane contact site biology, mitochondrial dynamics, and synaptic physiology.

Illumina Ventures primarily invests in early-stage startups that pioneer new applications of nucleic acid sequencing and develop products to expand the genomics ecosystem, thereby leveraging genomics to improve human health.

(Compiled by Cheng Xiaoqin)