City Therapeutics Raises $99.5M in Series B Funding

The round also saw participation from Casdin Capital, NYBC Ventures, ARCH Venture Partners, Fidelity Management and Research Company, Invus, Slate Path Capital, Rock Springs Capital, Regeneron Ventures, AN Ventures, and other investors.

The company plans to use the funding to advance the development of its RNAi therapy pipeline, accelerate work on its new RNAi engineering platform, and support business development and partnership opportunities.

The company recently began a Phase 1 clinical trial of CITY-FXI, an RNAi therapy targeting Factor XI (FXI) for the treatment of blood clot-related diseases. It also reported positive preclinical results for CITY-RBP4, a potential first-in-class RNAi therapy being developed for Stargardt disease.

“This Series B financing reflects our substantial progress and the confidence our investors, both longstanding and new, have in the City Therapeutics team, platform and pipeline,” said Andy Orth, chief executive officer of City Therapeutics. “We have achieved multiple important milestones in the two years since our Series A financing, including advancing CITY-FXI to the clinic and completing major strategic collaborations with Bausch + Lomb and Biogen. With this capital, we are well-positioned to move two programs to clinical stage this year, including CITY-RBP4, and continue to validate our innovative RNAi platform.”

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“City Therapeutics has assembled one of the most experienced and accomplished teams in RNAi and is executing on a compelling scientific vision,” said Rohan Nirody, managing director at Viking Global Investors. “We share their collective belief that RNAi can transform treatment for serious diseases and are proud to help enable the company’s progress in the clinic and with their next-generation RNAi platform.”

“This Series B financing reflects the exceptional progress our team has made in delivering on our mission to lead the next generation of RNAi-based medicines, and we are thrilled to expand our syndicate of outstanding investors,” said John Maraganore, Ph.D., co-founder and executive chairman of City Therapeutics. “The advances our team is making with our next-generation RNAi platform speak to the breadth of what is possible beyond traditional RNAi. Our innovative approach is expanding the reach of RNAi medicines into new programs and tissue types.”

About City Therapeutics

Founded by John Maraganore, Mark Keating, Kotaro Nakanishi, Yukihide Tomari, and Phillip Zamore, City Therapeutics is a biopharmaceutical company developing next generation RNA interference (RNAi) medicines. Based in Cambridge, the company is building a pipeline of innovative RNAi therapies for multiple diseases. It has raised more than $230 million from leading life sciences investors to support its research, and development efforts.

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