RTW Biotech Opportunities Ltd on Thursday announced a new investment into biotech company Airna, closing its oversubscribed $155 million series B financing round.
The Guernsey, England-based company is an investment fund which invests in companies that develop next-generation therapies and technologies that can improve patients’ lives.
Biotech company Airna uses advances in genetics to develop RNA-editing medicines to improve the lives of patients, and it is advancing a pipeline of therapeutic candidates, designed to provide functional cures for severe or chronic illnesses.
According to RTW, Airna does this by repairing harmful genetic variants or through introducing beneficial variants to promote optimal health.
Airna will advance its lead ribonucleic acid-editing product candidate for Alpha-1 antirypsin deficiency, a condition which results in lung and liver disease, in a phase 1/2 clinical trial using the proceeds of the funding from RTW.
Managing partner & chief information officer at RTW Roderick Wong said: ‘We are thrilled to support Airna in its mission to develop a new class of genetic medicines. Their pioneering work in precise RNA editing holds the promise to significantly advance therapeutic options for patients with AATD and other diseases.’
RTW’s shares closed down 3.6% at $1.14 in London on Thursday afternoon.
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