Borealis Biosciences, a Vancouver, BC-based RNA medicines company, raised $150M in Series A funding.
The round was led by Versant Ventures and Novartis AG.
The company intends to use the funds to expand operations and its development efforts.
Borealis provides a facility that includes wet labs for molecular and cellular biology, vivarium space, chemistry and analytical capabilities. The initial 25+ team is made up of experienced drug hunters with extensive expertise in kidney disease, translational systems biology and data sciences, translational biology, chemistry, DMPK and pharmacology.
As part of this agreement, Novartis will have the option to acquire two future development-ready programs from Borealis, with Borealis eligible for up to $750 million in total consideration including clinical and regulatory milestones.
FinSMEs
22/08/2024