A Milan-based biotech company developing novel treatments for difficult to treat genetic conditions has raised a $45m seed round, it said today.
The seed round investment in Aptadir Therapeutics is one of the largest by an Italian health startup and Aptadir says it’s one of Europe’s largest early-stage funding rounds.
The round was led by 4BIO Capital, the London-based VC investing in life sciences, with participation from Aptadir's pre-seed investor, Extend, Italy’s national technology transfer hub for biotechnology and pharmaceuticals. Other investors include CDP Venture Capital, XGEN Venture and CE-Ventures.
The startup, which is focused on the preclinical stage, is developing a novel class of RNA inhibitors, which are used to silence defective genes, to treat genetic conditions and underserved cancers.
The technology is based on the findings of an international group of renowned scientists in the fields of RNA and DNA biology, genetic disorders, leukaemia and immunotherapeutics. It is initially developing a treatment for Fragile X Syndrome, a genetic condition that causes intellectual disability, learning difficulties and developmental delays.
The funds will be used to advance its pipeline of therapeutics.
Giovanni Amabile, founder and CEO (pictured) said: “The magnitude of this seed round reflects the exciting potential of our DiRs technology and the quality of a truly international scientific team. With the backing of our investors, we now have the opportunity to develop a pipeline of drug candidates with the potential to restore genetic pathways that, for decades, have been considered irreversibly silenced.”
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