STORM Therapeutics Secures £14 Million Series A Extension to Advance RNA Epigenetics-Based Small Molecule Therapies

VCBeat (WeChat Official Account: vcbeat) has learned that on May 20, 2019, local time, STORM Therapeutics completed a £14 million Series A financing round. The round was jointly led by existing investors Cambridge Innovation Capital, M Ventures, Pfizer Ventures, Taiho Ventures, and IP Group, along with new investor Seroba Life Sciences.

It is reported that the company’s total Series A financing has reached £30 million. STORM Therapeutics completed the first and second closings of its Series A round in 2016 and 2018, raising £12 million and £4 million, respectively.

STORM will leverage this funding to strengthen its preclinical drug development pipeline, thereby advancing the company’s growth in the field of RNA-modifying enzymes. As part of the financing, Dr. Mark Albertella will join STORM as Vice President of Translational Oncology. Dr. Albertella is an expert in oncology drug development, with over 20 years of industry experience in the biotechnology and pharmaceutical sectors. Prior to joining STORM, Dr. Albertella served as Director of Biology at Medivir AB, where he was responsible for reviewing and overseeing the progress of all R&D projects.

STORM Therapeutics is a drug development company founded in 2015, focused on discovering and developing small-molecule therapies that target RNA epigenetics. The company is a global leader in technologies for modulating RNA-modifying enzymes.

Dr. Keith Blundy, CEO of STORM Therapeutics, said: “We welcome Seroba Life Sciences to our investor group and thank our existing investors for their continued support. This investment increases the size of our Series A financing round, providing strong support for STORM’s strategic development and solidifying STORM’s global leadership in RNA genetics.”

Seroba’s partner Bruno Montanari added, “We have been closely monitoring several R&D companies in the RNA space. We believe STORM Therapeutics will maintain a leading position in RNA epigenetic regulation.”

Cambridge Innovation Capital is a venture capital firm established in 2013. The company primarily focuses on investing in life sciences, innovative technologies, and other sectors. Cambridge boasts an experienced scientific advisory panel composed of distinguished scholars and entrepreneurs from the University of Cambridge.

M Ventures, established in 2017, is an early-stage venture capital firm. The company has extensive investment experience in the media, entertainment, finance, and technology sectors.

Pfizer Ventures, established in 2004, is a global venture capital firm primarily focused on investments in inflammation, immunology, internal medicine, oncology, rare diseases, and vaccines.

Taiho Ventures, established in California in 2016, is the venture capital arm of Taiho Pharmaceutical. The division primarily focuses on global biotechnology companies in fields such as oncology, immunology, and urology that align with the company’s corporate development strategy.

IP Group, established in 2001, currently leverages resources and networks from 33 top-tier universities and research institutions in the UK, the US, and Australia, along with extensive scientific achievements and operational expertise. The company’s investment focus is on technology commercialization projects originating from universities and research institutes, which typically require high intellectual property barriers.

Seroba is a European life sciences venture capital firm focused on investing in innovative biotechnology and medical technology. Leveraging deep investment and industry expertise, the company helps businesses realize their full potential while creating value for investors.

(Compiled by Song Chenchen)