Stoke Therapeutics Announces $90 Million Series B Financing to Advance Novel Oligonucleotide Medicines
Lead candidate to treat the genetic cause of Dravet Syndrome expected to reach clinic by 2020
October 23, 2018 06:00 AM Eastern Daylight Time
BEDFORD, Mass.--(BUSINESS WIRE)--Stoke Therapeutics today announced that it has completed a $90 million Series B financing to advance its pipeline of antisense oligonucleotide medicines for Dravet Syndrome and other severe genetic diseases.
The financing round was led by RTW Investments with participation from founding investor Apple Tree Partners. New investors include RA Capital Management, Cormorant Asset Management, Perceptive Advisors, funds managed by Janus Henderson Investors, Redmile Group, Sphera Funds Management, and Alexandria Venture Investments. Roderick Wong, M.D. from RTW Investments, Matthew Hammond, Ph.D. from RA Capital, and Bihua Chen from Cormorant Asset Management join the Board of Directors as observers.
Stoke has identified thousands of genes that could be addressed by its proprietary TANGO technology, which targets non-productive RNA splicing to increase gene expression and address the root cause of monogenic diseases caused by loss or reduction of gene function. The company is rapidly advancing its lead program, a therapeutic candidate for Dravet Syndrome, and expects to be in the clinic by early 2020. Stoke has also built a robust pipeline of candidates targeting other diseases of the central nervous system, as well as diseases of the eye, ear, liver and kidney.
“Our technology is designed to address, for the first time, the genetic cause of diseases like Dravet Syndrome so we can do more than alleviate symptoms – we can potentially prevent the long-term disabling consequences of these diseases,” said Edward M. Kaye, M.D., chief executive officer of Stoke Therapeutics. “We are delighted to have the support of such an outstanding group of crossover investors to speed our progress toward the clinic.”
“Stoke Therapeutics, with its innovative scientific approach, strong preclinical data and seasoned leadership team, is well-positioned to be a leader in oligonucleotide therapeutics,” said Roderick Wong, M.D., managing partner and chief investment officer at RTW Investments, LLC. “Rare disease patients are waiting, and we look forward to supporting the Stoke team as it builds a great precision medicine company advancing disease-modifying programs into the clinic.”
About Stoke Therapeutics
Stoke Therapeutics is a biotechnology company working to increase gene expression to treat a wide array of severe genetic diseases, including genetic conditions affecting the central nervous system, eye, ear, liver, and kidney. Stoke was launched in 2018 with a $40 million Series A investment funded by Apple Tree Partners. For more information visit www.stoketherapeutics.com and follow Stoke on Twitter @StokeTx.
Ten Bridge Communications Sara Green, 617-233-1714 firstname.lastname@example.org