Strand Therapeutics Secures $153M Series B to Advance mRNA Cancer Therapies Amid Industry Shifts

Strand Therapeutics, a Boston-based biotech company specializing in programmable mRNA therapies, has successfully closed a $153 million Series B funding round. The investment, backed by pharmaceutical giants including Eli Lilly, Amgen, and Regeneron, will fuel the advancement of Strand's innovative pipeline, particularly its lead candidate STX-001 for solid tumors.

Promising Clinical Results Drive Investment

Strand's STX-001, an intra-tumor self-replicating mRNA therapy expressing the immunomodulatory protein IL-12, has shown early promise in clinical trials. Data presented at the American Society of Clinical Oncology (ASCO) meeting earlier this year revealed multiple responses in patients with solid tumors refractory to checkpoint inhibitors, including one complete response.

Jake Becraft, CEO and co-founder of Strand, emphasized the significance of these results: "Our initial STX-001 phase 1 data provides early and strong clinical validation of our platform's capabilities. We have observed systemic immune activation and anti-tumor responses, including responses in non-injected lesions, across multiple tumor types."

Expanding the mRNA Therapeutic Landscape

Beyond STX-001, Strand is developing STX-003, described as a "world-first systemically administrable mRNA therapy with tumor targeting." This innovative approach aims to overcome the challenge of liver toxicity by delivering the therapeutic payload directly to IL-12-expressing tumor cells.

Christian Scherrer, head of health at lead investor Kinnevik, expressed enthusiasm for Strand's technology: "We believe programmable RNA is the next frontier in therapeutics, and Strand has built the leading platform to unlock it. Their early clinical data is outstanding, and the systemic delivery capability has the potential to reshape how we treat disease, starting with cancer, with more disease targets on the horizon."

Industry Headwinds and Future Prospects

The substantial investment in Strand comes at a time of increased scrutiny for mRNA technologies. Recently, the U.S. Department of Health and Human Services canceled nearly $500 million in research funding for mRNA vaccine development, citing concerns about efficacy against upper respiratory infections.

However, Strand's focus on therapeutic applications of mRNA technology, rather than vaccines, may insulate it from some of these policy headwinds. Becraft remains optimistic about the future of mRNA therapeutics, stating that the technology's "future is incredibly bright."

With its newly secured funding, Strand plans to advance STX-001 through further clinical testing and initiate a Phase 1 trial for STX-003 next year. The company's pipeline also includes programs targeting blood malignancies and explores the potential for mRNA delivery to various organs and tissues.