Twentyeight-Seven Therapeutics Secures $15 Million in Series A+ Financing to Advance ncRNA-Targeted Cancer Therapies

VCBeat (WeChat Official Account: vcbeat) has learned that on May 9, biotechnology company Twentyeight-Seven Therapeutics announced the completion of a $15 million Series A+ financing round. The round was led by Sofinnova Partners, with participation from Osage University Partners, MPM Capital, Novartis Venture Fund, Johnson & Johnson Innovation, Vertex Ventures, Longwood Fund, and Astellas Venture Management. Meanwhile, Dr. Henrijette Richter, Executive Partner at Sofinnova Partners, will join the board of directors of Twentyeight-Seven Therapeutics.

Previously, Twentyeight-Seven Therapeutics completed a $65 million Series A financing round in September 2018, led by MPM Capital and the Novartis Venture Fund.

Twentyeight-Seven Therapeutics is a biotechnology company headquartered in Massachusetts, USA, focused on developing therapies for cancer and other diseases by modulating non-coding RNA (ncRNA). By targeting ncRNA-regulating proteins (RMPs), the company can use small molecules to modulate the expression levels of oncogenes and other critical proteins.

Twentyeight-Seven Therapeutics focuses on modulating let-7, a critical microRNA (miRNA). miRNAs are short non-coding RNAs (ncRNAs) that suppress target gene expression by inhibiting mRNA translation or promoting mRNA decay. miRNAs are directly involved in the entire process of carcinogenesis, progression, and metastasis. Rather than directly targeting RNA itself or developing oligonucleotides, Twentyeight-Seven Therapeutics’ technology targets RNA-modulating proteins (RMPs), enabling small-molecule drug candidates to achieve broader cellular and tissue penetration.

Let-7 is a microRNA (miRNA) that suppresses oncogenic transformation in cells, and low levels of this miRNA are associated with greater cancer aggressiveness. Lin28, the primary protein target of Twentyeight-Seven Therapeutics, is an RNA-binding protein (RBP) that reduces Let-7 levels; it has been identified as an oncogene that promotes cellular transformation and tumorigenesis. Twentyeight-Seven Therapeutics is developing drugs to inhibit Lin28 activity, thereby increasing Let-7 levels, for the treatment of various cancers.

Dr. Kazumi Shiosaki, CEO of Twentyeight-Seven Therapeutics, stated that the company would leverage the raised funds to continue advancing its existing programs, build its technology platform, and seek additional opportunities. “With Sofinnova’s participation, we are able to investigate protein regulation by other classes of RNA and apply our findings to indications beyond oncology,” said Dr. Shiosaki.

Dr. Henrijette Richter, Executive Partner at Sofinnova Partners, stated, “Twentyeight-Seven Therapeutics is a leader in leveraging ncRNA bioscience for cancer treatment. Its outstanding scientific team is developing ‘game-changing’ therapies, and we are confident that they will deliver breakthrough results in the field of cancer treatment in the near future.”

Sofinnova Partners is a European venture capital firm focused on life sciences. Headquartered in Paris, France, the company brings together professional teams from Europe, the United States, and China. Over the past 45 years, it has provided financial and technical support to nearly 500 companies, cultivating numerous market leaders worldwide. Currently, Sofinnova Partners manages over €1.9 billion in assets.

Osage University Partners, founded in 1905, is a venture capital firm focused on investing in emerging technology startups incubated by universities. The company primarily invests in software, hardware, and life sciences companies.

MPM Capital, founded in 1996 and headquartered in Massachusetts, USA, is a venture capital firm primarily focused on the healthcare industry. It seeks to treat major diseases by translating scientific innovations into positive clinical outcomes. MPM invests in breakthrough therapies, with a particular emphasis on oncology. Leveraging its experienced investment team, executive partners, entrepreneurs, and members of its Scientific Advisory Board, MPM is driving medical innovations that transform patients’ lives.

Vertex Ventures is a wholly-owned subsidiary of Singapore’s Temasek Holdings. Established in 2015, the firm manages investment portfolios across the United States, China, Israel, India, and Southeast Asia. Reportedly focusing on early-stage investments, it currently oversees approximately $2.5 billion in assets under management.

Longwood Fund is a U.S.-based fund management firm established in 2010. The firm primarily provides financial support to companies in the healthcare sector, dedicated to identifying therapies that transform patients’ lives and ensuring that each investment generates greater value. Longwood Fund has invested in more than twenty companies, including TScan Therapeutics, ArcherDX, and Sitryx Therapeutics Limited.

(Compiled by: Wang Yue)