Sionna Therapeutics, a Boston, MA-based clinical-stage life sciences company, raised $182M in Series C funding.
The round was led by Enavate Sciences with additional new investors Viking Global Investors and Perceptive Advisors, as well as participation by all existing investors including RA Capital, OrbiMed, TPG’s The Rise Fund, Atlas Venture, the Cystic Fibrosis Foundation, funds and accounts advised by T. Rowe Price Associates, Inc., and Q Healthcare Holdings, LLC., a wholly owned subsidiary of QIA.
The company intends to use the funds to support the clinical development of first-in-class small molecules designed to fully restore the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein by stabilizing the first nucleotide-binding domain (NBD1).
Led by CEO Mike Cloonan, Sionna Therapeutics is a clinical-stage life sciences company dedicated to developing treatments for cystic fibrosis (CF) by normalizing the function of CFTR, the key protein associated with disease progression in CF. It is advancing a pipeline of small molecules engineered to correct the protein defects caused by ΔF508, the most common mutation that affects the CFTR protein. The company has a portfolio of programs directly targeting correction of NBD1, the key and mechanism to enable a restoration of ΔF508-CFTR function, and complementary programs targeting ICL4 and TMD1.
Commenting on the news, Mike Cloonan said: “We are encouraged by the strong interest and validation from the excellent investors in our upsized Series C financing. This capital raise provides financial flexibility positioning us to execute our clinical development plan with funding through 2026 and multiple value-creating clinical readouts. We are also pleased to welcome Dr. Fleming to our Board and look forward to insights from his more than 30 years of experience in the health care industry.”
