20 May 2019. STORM Therapeutics (“STORM”), the drug discovery company tackling disease through modulating RNA modifying enzymes, has announced that it has raised an additional £14 million bringing its total Series A financing to £30 million.
The financing includes funding from Seroba, as a new investor. STORM’s existing investors, Cambridge Innovation Capital, M Ventures, Pfizer Ventures, Taiho Ventures and IP Group also participated in the fund raise.
This extension follows the company’s rapid progress to date. It will enable STORM to advance its broad pipeline further in preclinical development and accelerate its programmes towards the clinic, supporting STORM’s growth as the leading drug discovery company working on RNA modulating enzymes.
Commenting on the investment, Bruno Montanari, Partner at Seroba, said: “We have been closely following the RNA space for some time tracking a number of key players. We believe STORM is maintaining its first-mover advantage in RNA epigenetic modulation and is progressing rapidly in its development, making this an exciting time for us to partner with management and co-investors. We continue to be impressed by the quality and depth of STORM’s science and the significant progress made by the team to advance its platform and pipeline in this fast-moving area of emerging biology.”
Dr Keith Blundy, CEO of STORM Therapeutics, said: “I am pleased to welcome Seroba to our investor syndicate and I would like to thank our existing investors for their continued support. This investment strengthens our Series A and provides further validation and support for STORM’s strategy to continue building a world-leading company harnessing the power of RNA epigenetics – an emerging, innovative area of drug discovery. It comes at an exciting stage as STORM starts translating its unique platform into effective treatments in oncology and beyond.”
STORM Therapeutics CEO, Keith Blundy, will be presenting at the BioEquity Europe 2019 meeting in Barcelona. STORM will present at 9am CEST on Tuesday 21st May as part of the Next Wave sessions.
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For further information, please contact: Vicky La Touche-Price in Seroba on +35316334028.
About STORM Therapeutics
STORM Therapeutics, founded in 2015, is a University of Cambridge spin-out translating the ground-breaking work of Professors Tony Kouzarides and Eric Miska in RNA epigenetics into the discovery of first-in-class drugs in oncology and other diseases. Storm is the leading company tackling disease through modulating RNA modifying enzymes and is developing a unique platform to address these enzyme classes, including RNA methyltransferases.
STORM is backed by blue chip investors Cambridge Innovation Capital, M Ventures, Pfizer Ventures, Taiho Ventures LLC, IP Group and Seroba Life Sciences, who share the team’s ambitions to build a world-leading company in the field.