Strand Therapeutics closed a $153 million Series B funding round led by Kinnevik, with participation from major pharmaceutical companies including Eli Lilly, Amgen, and Regeneron Ventures.
The company's lead candidate STX-001, a self-replicating mRNA therapy encoding IL-12, showed promising Phase I results including multiple RECIST responses and complete responses in treatment-resistant solid tumor patients.
Strand's programmable mRNA platform uses genetic circuits to control location, timing, and degree of therapeutic expression, with STX-003 representing the world's first systemically administrable mRNA therapy with tumor targeting.
The funding brings Strand's total raised capital to over $250 million and will support advancement of their pipeline targeting cancer and other chronic conditions.