Unifies World-Class Validated Circular RNA and
Industry-leading Delivery Technologies to Advance New Category of
panCAR™ in vivo CAR RNA Medicines for Oncology and Autoimmune
Diseases
Amit Munshi to
Lead Company as Chief Executive Officer
Former Orna CEO Tom
Barnes, Ph.D., to Remain on Board of Directors and Chair
Scientific Advisory Board
WATERTOWN and CAMBRIDGE, Mass., May 23, 2024
/PRNewswire/ -- Orna Therapeutics, a biotechnology company
dedicated to designing and delivering a new class of fully
engineered circular RNA therapeutics (oRNA®), today
announced its acquisition of ReNAgade Therapeutics, a pioneer in
unlocking the potential of RNA therapeutics that demonstrated
industry-leading delivery to multiple extra-hepatic cells in
non-human primate (NHP) models over the past 18 months.
Amit D. Munshi, Chief Executive
Officer of ReNAgade, will succeed Tom
Barnes, Ph.D., to lead Orna as Chief Executive Officer.
"RNA-centric approaches are poised to eclipse traditional cell
therapy-based methods and reshape the future of medicine," said Mr.
Munshi. "This strategic acquisition unifies Orna's and ReNAgade's
strengths and capabilities under one roof, expanding technological
synergies and multiplying the companies' depth and breadth of
expertise to drive a unique RNA therapeutic-focused R&D engine.
Orna will now advance an industry-leading approach combining the
Company's circular RNA expression technology with ReNAgade's broad
portfolio of LNP-based RNA delivery systems and comprehensive
editing programs to solve the most pressing challenges in drug
development."
An industry veteran of more than 30 years, Mr. Munshi is former
President and CEO of Arena Pharmaceuticals Inc., which he built
from a $300 million market cap into a
late clinical stage company before its acquisition for $6.7 billion by Pfizer. Dr. Barnes will retain
his position on Orna's Board of Directors and serve as chair of its
Scientific Advisory Board.
"Orna remains singularly focused on developing the right tools
and technologies and building the right company to power an
entirely new class of RNA-based medicines," said Dr. Barnes,
founding Chief Executive Officer of Orna Therapeutics. "The
combination of technologies positions Orna to advance
best-in-class panCAR in vivo CAR RNA therapies and
expand existing gene editing delivery solutions with circular RNA
to address the massive unmet need in multiple diseases."
"Both Orna and ReNAgade were founded on our bold vision to push
the boundaries of RNA medicine," said Ansbert Gadicke, M.D.,
Managing Partner of MPM BioImpact. "The fusion of these industry
leaders in circular RNA and delivery will transform the landscape
of RNA therapeutics and accelerate clinical milestones leading to
greater impact for patients living with cancer and autoimmune
diseases. The combined company is supported by a substantial
financial position enabling these milestones."
Built by MPM BioImpact, both Orna and ReNAgade bring significant
financing. Orna launched with $100
million in Series A financing in February 2021, subsequently announcing in
August 2022 a $221 million Series B in addition to a strategic
partnership. ReNAgade launched in May
2023 with $300 million Series
A financing. The combined company will have a robust pipeline with
panCAR programs in oncology and autoimmune disease, vaccine
programs partnered with Merck, and genetic disease programs.
About Orna Therapeutics
Orna Therapeutics was founded
on research by Alex Wesselhoeft,
Ph.D., and Daniel G. Anderson,
Ph.D., from MIT. It is dedicated to
designing and delivering a new class of fully engineered circular
RNA (oRNA®) therapeutics with the potential to change
the way we treat disease. Orna's proprietary platform combines
novel technology to design circular RNA transcripts that drive
protein expression with validated and unique delivery solutions.
oRNA® has many advantages over traditional mRNA
approaches, including simplified production, improved
formulatability, and superior protein expression – making it a
highly disruptive, new class of RNA therapeutics with vast
potential to change patients' lives. To learn more, visit
www.ornatx.com and follow Orna Therapeutics on X and LinkedIn.
About ReNAgade Therapeutics
ReNAgade exists to
unlock the potential for RNA medicines to treat disease anywhere in
the body. It combines novel RNA delivery platforms with a
comprehensive RNA platform allowing for an all-RNA system for
coding, editing, and gene insertion to develop new medicines. To
accelerate the future of medicine, ReNAgade brings together a team
with deep RNA and delivery expertise to develop paradigm-shifting
RNA medicines.
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SOURCE Orna Therapeutics