Foley & Lardner LLP represented Bioluminescence Ventures as the lead investor in the $50 million Series B funding extension for ReCode Therapeutics, a clinical-stage genetic medicines company using precision delivery to power the next wave of mRNA and gene correction therapeutics. With this final extension, ReCode raised a total of $260 million in Series B funding.
ReCode’s Selective Organ Targeting (SORT) lipid nanoparticle (LNP) platform enables highly precise and targeted delivery of genetic medicines directly to the organs and cells implicated in disease, enabling improved efficacy and potency. ReCode’s lead programs include RCT1100 for the treatment of primary ciliary dyskinesia caused by pathogenic mutations in the DNAI1 gene, and RCT2100 for the treatment of the 10-13 percent of cystic fibrosis patients who have Class I mutations in the CFTR gene and do not respond to currently approved CFTR modulators. RCT1100 and RCT2100 are inhaled disease-modifying mRNA-based therapies formulated using the SORT LNP delivery platform.
Proceeds from the financing will be used to advance ReCode’s primary ciliary dyskinesia and cystic fibrosis clinical development programs and to expand the company’s proprietary SORT LNP pipeline to include mRNA and gene correction therapeutics for central nervous system, lung, liver, and musculoskeletal indications.
The Foley team was led by partner Louis Lehot and included partners Lyman Thai, Antoinette Konski, Jeff Lomprey, Rishi Sodhi, and Andy Rawlins, as well as associates Ashley Lee, Wesley Choi, and Cayman Weimer.
Foley’s Venture & Growth Capital attorneys understand the complex and diverse needs of both venture funds and their portfolio companies and offer a broad range of services at each stage of development. The attorneys have insight into the unique needs of high-growth companies operating in the life science sector from garage to global.
Foley’s Life Sciences Team is composed of corporate, health care, regulatory, and IP attorneys whose comprehensive approach guides start-ups and established enterprises in the life sciences industry through fluctuating global financial markets, a rapidly changing IP environment, and regulatory hurdles that can impact the products they bring to market. For decades, our attorneys have partnered with life sciences companies at all stages of development to help them make their mark on the industry.
