A new biotech founded by veterans of Alnylam Pharmaceuticals, Beam Therapeutics, ARCH Venture Partners, and multiple academic institutions, closed a $270 million Series A round on Wednesday.
Orbital Therapeutics, which is based in Cambridge, Mass., raised the funding from ARCH, a16z, Newpath Partners, and at least a dozen other investors. It’s one of the largest early stage financings so far this year, topping the $200 million that cell therapy startup Cargo Therapeutics raised in March and the $193 million that went to CRISPR pioneer Feng Zhang’s new startup, Aera Therapeutics.
That money will go toward building an array of RNA-based medicines.
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