Orna bulks out RNA capabilities by snapping up former partner ReNAgade

2024-05-23

No stranger to meshing their respective technologies, Orna Therapeutics bought out ReNAgade Therapeutics on Thursday, officially marrying the former’s circular RNA platform with the latter’s RNA delivery and editing toolkit.

A previous joint venture between the pair had centred on combining their RNA capabilities. Some of the technologies developed under that collaboration went on to be the subject of a $3.5-billion partnership between Orna and Merck & Co. focused on vaccines and cancer therapeutics, inked in 2019.

Along with their similar RNA focuses, Orna and ReNAgade were both built by MPM BioImpact. The VC helped launch Orna with $100 million in 2021, and contributed to its $221-million B round the year after.

Orna’s pipeline features a pair of panCAR candidates in oncology and autoimmune diseases, which are expected to enter the clinic in 2026, as well as vaccine programmes partnered with Merck, and treatments for sickle cell disease and beta thalassemia developed with its SiTu Editing in the Marrow platform

Thursday’s acquisition comes exactly a year after ReNAgade emerged from stealth with $300 million and a portfolio of RNA delivery technologies such as lipid nanoparticles (LNPs), as well as a coding, editing, and gene insertion toolkit to create an "all-RNA" system.

The deal terms weren’t disclosed, but ReNAgade’s CEO Amit Munshi will take the helm of the combined companies, while Orna’s chief executive Tom Barnes will step down.

“This strategic acquisition unifies Orna’s and ReNAgade’s strengths and capabilities under one roof, expanding technological synergies and multiplying the companies’ depth and breadth of expertise to drive a unique RNA therapeutic-focused R&D engine,” Munshi said in a statement, adding that the combination of Orna’s “circular RNA expression technology with ReNAgade’s broad portfolio of LNP-based RNA delivery systems and comprehensive editing programmes” has the potential to address “the most pressing challenges in drug development.”

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