Orbital Therapeutics Closes $270M Series A Funding
Orbital Therapeutics, a biotech company dedicated to unlocking the full potential of RNA medicines to treat human diseases, has successfully raised $270 million in a Series A financing round led by ARCH Venture Partners.
Other investors who participated in the funding round include Abu Dhabi Growth Fund (ADG), Redmile Group, Exor N.V., and Invus.
The funding will be used to expand the company’s RNA-based therapeutic platform, which integrates established and emerging RNA technologies and delivery mechanisms.
Orbital Therapeutics aims to develop RNA-based therapeutics for various human diseases, including next-generation vaccines, immunomodulation, and protein replacement.
Giuseppe Ciaramella, Orbital co-founder and CEO commented, “Since our founding, we have been diligently focused on advancing our platform of RNA technologies to elucidate the most promising opportunities with our initial programs so we may reach patients as efficiently as possible. We are thrilled to have the backing of such an exceptional group of investors, whose support further enables the growth of our organization and the meaningful expansion of our platform and portfolio.”
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Kristina Burow, managing partner at ARCH Venture Partners, co-founder and board director of Orbital, added, “Few companies can possess the know-how, technology and biologic insights to deliver on the full breadth of opportunity that RNA medicines could provide for patients. Orbital was founded and has been built to be that special company.”
Orbital Therapeutics also announced the appointment of Nirupama Subramanian as chief operating officer and Jonathan Piazza as chief financial officer.
According to Dr. Ciaramella, “Key to our long-term success is having a team that not only brings experience but also passion and drive for the work we are doing. Their collective expertise and dedication to creating a company that can advance important new medicines for patients makes them ideal additions to our team, and they have already made tremendous early contributions to our company’s growth and capital raise.”
Source: Orbital Therapeutics Press Release
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