Actio Biosciences, a biotech firm focusing on genetics and precision medicine, has successfully raised $55 million in a Series A financing round. The funding, led by Canaan and DROIA Ventures, will support the company’s innovative approach to developing treatments for both rare and common diseases.
Key Highlights
- Actio Biosciences has completed a $55 million Series A financing round.
- The financing was spearheaded by Canaan and DROIA Ventures, with participation from Deerfield Management, EcoR1, and Euclidean Capital.
- Actio’s approach starts with rare diseases to gain insights that can be applied to more common conditions.
- The company’s platform includes the Rare Disease Target Atlas, a proprietary target database, and expertise in bioinformatics, biology, and chemistry.
- Actio has formed a partnership with the Rare Disease Translational Center at The Jackson Laboratory (JAX) to understand the molecular basis of rare diseases.
- The company’s lead program targets TRPV4, an ion channel, for the treatment of diseases like Charcot-Marie-Tooth disease type 2C (CMT2C) and metatropic dysplasia.
Source: Business Wire
Notable Quotes
- “By starting with a focus on rare diseases, we gain invaluable insights… We are thrilled to have the backing of this esteemed group of investors.” – David Goldstein, Ph.D., Co-founder and CEO of Actio
- “In today’s financing environment, investors can be quite selective… Actio stood out for scientific excellence, a seasoned team, and very impressive pipeline progress.” – Nina Kjellson, Board Member and General Partner at Canaan
- “Since our founding, we’ve built a proprietary platform designed to de-risk targets of interest… Beyond this program, we are working expeditiously to expand our pipeline.” – John McHutchison, AO, M.D., Co-founder and Board Member of Actio
SoH's Take
Actio Biosciences’ successful Series A financing round underscores the growing interest in precision medicine and the potential of genetics to revolutionize treatments for a wide range of diseases. By focusing on rare diseases as a starting point, Actio is uniquely positioned to gain insights that can be applied to more prevalent conditions. The company’s collaboration with renowned institutions like The Jackson Laboratory further solidifies its commitment to advancing the field of precision medicine. With strong backing from leading investors and a promising pipeline, Actio Biosciences is poised to make significant strides in the biotech industry.
