iECURE, a gene editing company focused on the development of mutation-agnostic in vivo gene insertion, or knock-in, editing therapies for the treatment of liver disorders with significant unmet need, announced the completion of a $65 million Series A-1 financing. The Series A-1 financing was co-led by Novo Holdings A/S and LYFE Capital with significant participation from existing investors Versant Ventures and OrbiMed Advisors.
This financing, coupled with the $50 million raised in the prior Series A financing announced in September 2021, will bring the company’s total funds raised to $115 million. As part of the Series A-1 financing, Ray Camahort, Ph.D., Partner at Novo Ventures and Derek Yuan, Ph.D., Managing Director at LYFE Capital will join iECURE’s Board of Directors. Additionally, Tal Zaks, M.D., Ph.D., has been appointed to iECURE’s board as OrbiMed’s new representative on the Board of Directors. Stephen Squinto, Ph.D., will continue to serve on the Board of Directors as an independent member.
“In the last year, we have made significant progress in both advancing development of our lead program for neonatal onset OTC and building a world-class team with an extensive track record in developing and commercializing novel therapies,” said Joseph Truitt, Chief Executive Officer of iECURE. “We believe that this funding will enable us to execute all the tasks necessary to begin clinical development of what could be the first mutation-agnostic in vivo gene insertion therapeutic program.”
The company expects the proceeds from the Series A-1 financing to enable the advancement of the company’s lead program, GTP-506, including funding IND-enabling studies, starting clinical trials (subject to regulatory approval), and achieving early human data readouts. In addition, the Series A-1 financing is expected to fuel further progress on iECURE’s portfolio of gene editing products for the treatment of patients with rare liver diseases, including citrullinemia type 1 (CTLN1) and phenylketonuria (PKU).
“iECURE, through its collaboration with the University of Pennsylvania Gene Therapy Program, has generated impressive pre-clinical data demonstrating durable gene integration in non-human primates with its cutting-edge approach to mutation-agnostic in vivo gene editing. We are excited to work closely with the company as they the move their programs into the clinic,” said Ray Camahort, Ph.D., Partner at Novo Ventures.