eTheRNA Secures EUR 24 Million to Develop its TriMix mRNA-based Immunotherapy
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eTheRNA immunotherapies has secured EUR 24 million in a Series A investment round with venture capital enabling the company to continue the development of its proprietary TriMix mRNA-based immunotherapies for melanoma, breast cancer and infectious diseases.
eTheRNA was founded in January 2013 out of the VUB Laboratory for Molecular and Cellular Therapy (LMCT). Headed by Prof. Kris Thielemans in tandem with Prof. Bart Neyns, the LMCT has driven both the discovery and development of TriMix. This mRNA-based technology focuses on enhancing and modulating dendritic cells which fulfill a fundamental role in eliciting the human immune response to cancer and infectious diseases.
Building upon a convincing set of preclinical and clinical data in melanoma, eTheRNA has succeeded in raising EUR 24 million of proceeds, representing one of the biggest financings in Europe over the past twelve months for an early-stage biotechnology company. The round was led by LSP Life Sciences Partners (The Netherlands) and PMV (Belgium), who formed a strong international investment syndicate that also comprises Omega Funds (US), Fund+ (Belgium) and Boehringer Ingelheim Venture Fund (Germany).
These resources enable eTheRNA to conduct further clinical studies with an off-the-shelf injectable mRNA-product based on its TriMix technology in melanoma, triple negative breast cancer and selected infectious diseases. John de Koning, partner at LSP: "mRNA is one of the hottest areas in the global biotechnology scene. eTheRNA’s impressive preclinical and clinical dataset and its experienced management team gave us the necessary comfort to proceed with this significant investment."
Alexandra Tolia, PMV, added: "We are convinced that eTheRNA is uniquely positioned to play a leading role in the development of immunotherapies. Together with a group of distinguished partners, we are excited to support the company in translating a promising technology into products that have the potential to transform the future of cancer treatment."
Dirk Reyn, CEO eTheRNA: "This investment provides another confirmation of the strong innovation potential and talent in the Flemish biotechnology sector. We are proud to welcome these highly renowned biotechnology investors as our new shareholders. We are fully committed to the further development of the TriMix technology with a focus on a simple off-the-shelf injectable mRNA-product — in addition to the existing cellular mRNA product – that help patients to fight various devastating diseases."
Prof. Kris Thielemans, founder and Chief Scientific Officer of eTheRNA: "The TriMix technology platform is built on a unique mix of three mRNA molecules that are jointly capable of both activating and educating dendritic cells in a more potent, safer and sustainable way than any other similar approach investigated until now."
Prof. Bart Neyns, 'Vrije Universiteit Brussel' and head of division at the Medical Oncology department of 'UZ Brussel': "The potential of this TriMix technology is indeed supported by the impressive objective response rates and the increased survival rate demonstrated in recent clinical phase II studies performed at our hospital with the TriMix cellular product in both metastatic and adjuvant melanoma patients."