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news.US-based biotechnology company Rubius Therapeutics has raised $100m crossover financing to further support manufacturing and clinical development of red-cell therapeutics.
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In just under nine months, the Company has now raised over $220 million.
Rubius has developed the technology to grow, genetically engineer and mature long-circulating Red-Cell Therapeutics (RCT) products, which have the potential to provide transformational clinical benefits to a wide range of patients across multiple therapeutic areas.
These allogeneic, off-the-shelf products offer the additional advantage of extended stability and storage to allow for rapid, universal access by the medical community.
Proceeds from the financing will be used to accelerate the development of the Company’s portfolio of RCTs towards clinical proof-of-concept, and to enhance its manufacturing capacity and capabilities.
Rubius Therapeutics president Torben Straight Nissen said: “The addition of this funding further strengthens our foundation and enables us to accelerate the development of our first wave of RCT products that are targeting treatment of enzyme deficiencies, cancer and autoimmune disease.
“We have assembled an extremely talented team of investors, leadership and advisors, which all share the long-term vision of bringing novel cellular therapies to patients.”
Rubius executive chairman and Flagship Pioneering executive partner David Epstein said: “We are pleased with the quality of the investor group participating in this financing, and would like to thank our new and existing investors.
“Their strong support further validates the potential of RCT products and the opportunity that we have to make a meaningful impact in the lives of patients.”
Flagship Pioneering CEO and Rubius co-founder Noubar Afeyan said: “Rubius has become one of the most exciting members of the Flagship family of companies; applying scientifically disruptive insights against unsolved problems to create groundbreaking new therapies.
“We are excited to further support Rubius in this crossover round as the company continues to advance the next generation of cellular therapies.”