The German biotechnology startup is developing RNA-based therapies designed to act more selectively on diseased cells.
SRTD Biotech has raised €31.5 million in an oversubscribed seed round led by Mérieux Equity Partners.
NRW.BANK and Boehringer Ingelheim Venture Fund joined as co-leads, with participation from Lilly Ventures, High-Tech Gründerfonds and Anobis Asset.
The financing, announced November 9, will fund preclinical development of therapies targeting oncology, autoimmune conditions and fibrosis.
Based in Jülich, Germany, SRTD is developing technologies intended to improve the selectivity of RNA therapeutics.
One of the challenges in this field is delivering biological instructions to the right cells while limiting effects on healthy tissue.
SRTD wants to address that problem through its RNA technology platform.
The company's programs remain in early development.
Its financing supports the scientific and manufacturing work required before potential human clinical studies.
No commercial revenue or approved therapies were disclosed.
The key challenge is demonstrating that its technology can deliver selective therapeutic effects with an acceptable safety profile, first in preclinical testing and eventually in patients.
Sources: Mérieux Equity Partners announcement · NRW.BANK