Nutcracker Therapeutics Announces $60 Million Series B Financing
Emeryville, Calif. – September 23, 2020
Financing led by ARCH Venture Partners
Company aims to efficiently develop, manufacture and deliver mRNA medicines to patients worldwide using its proprietary push-button “GMP-in-a-box” system
Company will initially focus on developing first-in-class mRNA therapeutics for oncology indications and forging collaborations with biotech and pharma companies
Nutcracker Therapeutics, Inc., a company developing and producing mRNA therapeutics on its proprietary, microfluidic, biochip-based platform, today announced that it has raised $60 million in Series B financing led by ARCH Venture Partners with participation from other top healthcare investors, including Bluebird Ventures, a firm associated with Sutter Hill Ventures.
Nutcracker has combined the productivity of RNA biology with innovations inspired by semiconductor manufacturing techniques to develop a proprietary miniaturized platform that enables the rapid discovery, development and manufacturing of mRNA therapies and vaccines. The “GMP-in-a-box” ACORN platform is a first-of-its-kind, computer-controlled RNA manufacturing system that starts with a nucleic acid sequence of interest and produces optimized nanoparticle-encapsulated RNA therapeutics on dedicated, single-use biochips. All steps are performed in an automated, fully isolated microfluidic path, enabling rapidly scalable, efficient manufacturing of high-quality products within smaller footprint facilities with reduced operating costs compared to conventional bioreactor manufacturing.
Igor Khandros, Ph.D., is co-founder and chief executive officer of Nutcracker Therapeutics. Khandros previously founded three publicly traded companies including FormFactor, Inc., and Berkeley Lights, Inc.
“RNA-based therapeutics are emerging as an important new class of medicines,” said Dr. Khandros. “We founded Nutcracker based on our conviction that to fulfill the promise of RNA therapeutics, we must meld the productivity of RNA biology with semiconductor-like development and manufacturing controls and discipline. Our platform can efficiently create both patient-specific and broadly applicable RNA medicines and enables the rapid scaling of GMP manufacturing. We are applying the platform to develop Nutcracker’s own RNA medicines, with an initial focus on mRNA therapies for oncology, and these programs will incorporate our proprietary delivery vehicles and mRNA designs. We are also establishing partnerships with other biopharma companies across a range of indications and RNA therapeutics.”
Dr. Khandros adds, “Bob Nelsen and ARCH Venture Partners are unique investors who possess a founders’ mindset, and are determined, as we are, to enable delivery of these life-saving medicines to all patients in need, at any time and in any part of the world.”
“The field of RNA therapeutics has tremendous potential, and Nutcracker’s platform is ideally positioned to rewrite the rules of what is possible with RNA, from the design and optimization phase through manufacturing and ultimately, through delivery to patients worldwide,” said Robert Nelsen, co-founder and managing director of ARCH Venture Partners.
The ACORN system uses proprietary hardware and software to manufacture nanoparticle-encapsulated mRNA therapies on biochips. In development mode, it can rapidly perform the efficient selection of lead therapeutic candidates with optimized delivery vehicles out of a vast number of combinations, increasing the quality of leads and the probability of success.
In manufacturing mode, the ACORN system delivers optimized mRNA therapies using an exact, repeatable and easily scalable and deployable process which is fully executed on biochips with enclosed fluid path.
Nutcracker has also developed, and continues to grow, a library of unique proprietary delivery vehicles for RNA medicines, designed to optimize delivery for different indications. A proprietary mixing and formulation on biochips result in optimized nanoparticles containing single or multiple RNA molecules.
About Nutcracker Therapeutics, Inc.
Founded in 2018, Nutcracker Therapeutics is bringing the combined power of high-technology engineering and advanced biosynthesis to RNA therapeutics through its push-button mRNA synthesis and formulation platform. Armed with this high-tech advantage, we will advance mRNA therapeutics into the clinic and engage in strategic partnerships with clinical institutions and pharmaceutical/biotech companies. Our GMP-in-a-box approach to manufacturing is expected to offer significant cost, cycle time, capacity and point-of-care execution advantages over other RNA manufacturing approaches. Supporting our initial focus on mRNA therapeutics for oncology, our platform will ultimately enable the development and manufacturing of all RNA therapeutics to benefit patients worldwide.