City Therapeutics Announces Launch with $135M Series A Financing

Gunderson Dettmer represented client City Therapeutics in its $135 million Series A financing led by ARCH. City Therapeutics aims to harness next-generation engineering of small interfering RNAs (siRNAs) – the “trigger” molecules that mediate RNAi – to build a robust and sustainable product engine and expand the therapeutic reach of RNAi-based medicines.

In the announcement of the transaction, City Therapeutics co-founder and executive chair John Maraganore said, “We see the potential for RNAi to emerge as the next major category of high-impact medicines, rivaling if not exceeding the success of monoclonal antibodies. New innovation is needed to realize this future, and we believe City Therapeutics can lead this next chapter. To unlock the full potential of RNAi-based medicines, we will utilize next-generation engineering technologies to advance innovations in siRNA design, delivery and targeting that enable improved potency and specificity, broader access across more tissue types, and expanded opportunities in multiple therapeutic areas. We are excited to launch City Therapeutics to lead the future of RNAi-based medicines.”

The Gunderson Dettmer deal team was led by Kirt Shuldberg and included Brendan McCarthy, Matthew Rietfors, Brittany Nicely, Will Fogarty, Benjamin Cohen-Kurzrock and Amanda Sharp.

Companies
City Therapeutics
ARCH Ventures