Strand Therapeutics lands $45m

FPV Ventures led the round.

  • Other backers included Eli Lilly and Company, Potentum Partners and Playground Global
  • The funding will be used to advance Strand’s first drug candidate
  • The capital infusion will also be used to further develop its systemic delivery mechanism

Boston-based Strand Therapeutics, a developer of curative therapies for cancer and other diseases, has raised $45 million, bringing its total Series A round to $97 million.

FPV Ventures led the round. Other backers included Eli Lilly and Company, Potentum Partners and Playground Global.

The funding will be used to advance Strand’s first drug candidate, a programmable mRNA therapy for solid tumor immuno-oncology into Phase 1 clinical trials next year. The capital infusion will also be used to further develop its systemic delivery mechanism.

“Strand is bringing the promise and potential of messenger RNA-based therapeutics beyond vaccines to treat some of the hardest diseases to target such as cancer,” said Pegah Ebrahimi, co-founder and managing partner of FPV, in a statement. “mRNA is a future cornerstone of medicine, and Strand is on an ambitious path to push the industry beyond the challenges of traditional mRNA technologies with their precision. The convergence of biology and technology with next-generation programmable mRNA will fuel new opportunities for this ground-breaking technology to improve human lives, beginning with the millions of patients with cancer who desperately need new therapies with better efficacy and safety.”

Based in San Francisco, FPV Ventures invests in mission-driven founders.