ReNAgade Bursts onto Scene with $300M Raise to Develop RNA Medicines

ReNAgade Therapeutics, a Cambridge, MA-based biotech company developing RNA medicines and made up of Moderna veterans, has come out of stealth after raising $300 million in Series A funding.

MPM Capital’s BioImpact Capital and F2 Ventures co-led the round, which is the largest raise for a Series A in the industry so far this year.

Amit Munshi, former CEO of Arena Pharmaceuticals, is leading the company, joined by Pete Smith and Ciaran Lawlor as chief scientific officer and chief operating officer respectively, both previously occupying senior positions at Moderna. Brian Shuster joins as chief business officer from Bristol Myers Squibb.

“ReNAgade was founded on a bold idea – to dramatically transcend the boundaries of RNA medicine, a field that has made great strides but remains in its infancy,” said Ansbert Gadicke, M.D., Managing Partner of MPM Bioimpact and Founder of ReNAgade.

The business already has a partnership with Orna Therapeutics that combines Orna’s circular RNA medicines with its RNA delivery technology. In the field of RNA therapies, Orna has also generated some buzz. It completed a $221 million Series B round in August 2022 and collaborated with Merck on many therapeutic initiatives.