Stoke Therapeutics, a US-based biotechnology company focused on the development of drugs for severe genetic diseases, has raised $90m in a Series B financing round.
The proceeds from the new funding round will be used by Stoke Therapeutics to advance its pipeline of antisense oligonucleotide medicines, designed for the treatment of severe genetic disorders like Dravet Syndrome.
RTW Investments led the funding round with participation coming in Apple Tree Partners, the founding investor of the US biotech company.
New investors to come on board include RA Capital Management, Cormorant Asset Management, Perceptive Advisors, Redmile Group, Sphera Funds Management, funds managed by Janus Henderson Investors, and Alexandria Venture Investments.
RTW Investments managing partner and chief investment officer Roderick Wong said: “Stoke Therapeutics, with its innovative scientific approach, strong preclinical data and seasoned leadership team, is well-positioned to be a leader in oligonucleotide therapeutics.
“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.”
Stoke Therapeutics said that it has identified a number of genes that could be addressed by its Tango technology, By targeting non-productive RNA splicing to boost gene expression, the Tango technology is said to address the basic cause of monogenic diseases resulting from the loss or reduction of gene function.
The biotech company expects its lead candidate, designed for the treatment of Dravet to be advanced into clinical development by early 2020.
Stoke Therapeutics CEO Edward Kaye said: “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.
“We are delighted to have the support of such an outstanding group of crossover investors to speed our progress toward the clinic.”
Stoke Therapeutics also has a pipeline of candidates targeting other diseases associated with the central nervous system, and also diseases concerning the eye, ear, liver and kidney.
Earlier this year, the US biotech company completed a $40m Series A financing provided by Apple Tree Partners.