A syndicate of venture capitalists, with support from the European Regional Development Fund, has raised seed financing of €40 million for Aptadir Therapeutics Srl of Italy to support development of a new RNA therapeutic for difficult genetic disorders. The preclinical compound is being investigated for Fragile X syndrome, an inherited generic, neurological disorder.
Led by UK-based 4BIO Capital, the funding is being described as one of Europe’s largest early-stage financings and exploits science from three leading institutions: the Beth Israel Deaconess Medical Center in Boston, US, the National Research Council of Italy, and the Cancer Science Institute of Singapore.
“The group of founders behind the science are world-renowned, and we are confident that the right factors are in place, from the science to the management team, to take this potentially life changing technology forward into the clinic,” Dima Kuzmin, managing partner of 4BIO Capital, said in a prepared statement on 29 September.
The new RNA therapeutic blocks aberrant DNA methylation, an epigenetic mechanism where a chemical group can be added to a DNA molecule without changing the underlying DNA. The goal is to reverse abnormal gene silencing and restore normal biological function. According to 4BIO Capital, Aptadir has been able to demonstrate this mechanism of action in patient-derived disease models. The new molecules are called DNA methyltransferase interacting RNAs. The seed financing also included the pre-seed investor EXTEND, Italy’s national technology transfer hub.
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