Wednesday, February 10, 2021
Ractigen Therapeutics closes on $17 Million Series A to advance lead program into clinical phase, led by Hillhouse Venture Capital
[2/11/2021, Nantong] Ractigen Therapeutics, a leading company in the saRNA drug space, announced that it has closed a 17$ million USD (￥110 million) Series A financing round led by Hillhouse Venture Capital with participation from CCB Healthcare Growth Fund, Boyi Capital, and Longman Capital to support advancement of its lead pharmaceutical program into IND filing.
As a novel gene-targeting platform technology, saRNA drugs activate gene expression via a mechanism known as RNA activation (RNAa) boosting protein levels in diseases caused by insufficient protein expression. RNAa is a biological mechanism first discovered and named in 2006 by Dr. Long-Cheng Li, co-founder of Ractigen Therapeutics.
Founded in 2017 in Nantong, Jiangsu Province by Dr. Long-Cheng Li and colleagues Dr. Robert Place and Dr. Moorim Kang, Ractigen is focused on developing and commercializing RNAa for the global market. Since its establishment, the company has focused on single-gene disorders using its own proprietary formulation to deliver saRNA drugs to diseased tissues.
"For drug development, there is a huge unmet medical need for gene activation therapy. RNAa is the only clinical stage technology that can achieve targeted gene activation. We are very delighted to see that our unique platform technology has attracted the interest of well-known investors including Hillhouse in this round of financing. Nucleic acid and oligonucleotide therapeutics as a whole has become a hot spot for domestic venture capitalists in the past year” said Dr. Long-Cheng Li, CEO of Ractigen Therapeutics.