RaNA Acquires Shire’s Industry Leading Messenger RNA Platform
–Creates One of the Broadest RNA-Based Platforms and Gains Two Late-Stage Preclinical Programs in Rare Disease–
January 04, 2017 07:30 AM Eastern Standard Time
CAMBRIDGE, Mass.–(BUSINESS WIRE)–RaNA Therapeutics, a leader in the discovery and development of a new class of medicines that target RNA, today announced the acquisition of the MRT platform, an mRNA therapy platform, developed by subsidiaries of Shire plc. In addition, Shire’s former MRT employees, the group focused on the development of this technology since 2008, have joined RaNA to continue to advance the platform with lead programs in cystic fibrosis (CF) and urea cycle disorders (UCD).
“Shire and the MRT employees joining RaNA have done a tremendous job of building a leading mRNA therapy platform, and we are prepared to accelerate the translation of this powerful platform with the goal of developing breakthrough therapies for people living with life-limiting diseases,” said Ron Renaud, Chief Executive Officer of RaNA Therapeutics. “This acquisition results in the most comprehensive RNA-based therapeutic approach in the industry and significantly expands RaNA’s ability to correct a wide range of disease genotypes regardless of mutation and access new targets not currently addressable by existing modalities. We are thrilled to welcome our new colleagues and introduce two new programs to our pipeline.”
Under the terms of the agreement, Shire receives an equity stake in RaNA and is eligible for future milestones and royalties on products developed with the technology. MTS Securities, LLC served as advisor to Shire in the transaction.
“Shire recognizes the potential of the MRT platform, and we are committed to the smooth transition to RaNA,” said Philip Vickers, Ph.D., Head of Research and Development at Shire. “We look forward to the development of therapies with this platform to ultimately treat patients living with debilitating diseases.”
About RaNA Therapeutics
RaNA Therapeutics is a leading biotechnology company committed to the development of next generation RNA-targeted medicines. RaNA’s mission is to improve the lives of people suffering from serious life-altering diseases by creating precision medicines that can change the course of their condition. RaNA’s technology has broad therapeutic potential to treat a wide range of diseases, including rare genetic disorders. For more information about the company and its platforms, please visit www.ranarx.com.
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Dan Budwick, 973-271-6085