RESEARCH TRIANGLE PARK – Kriya Therapeutics has bought Redpin Therapeutics, a private biotechnology company in the process of developing regulatable gene therapies for diseases of the nervous system.
Following the acquisition, Kriya will now have a foundation for its neurology therapeutic are portfolio, according to a statement from the RTP-based gene therapy company.
“We are looking forward to integrating Redpin’s platform and pipeline into Kriya’s gene therapy engine as we advance our mission to develop life-changing gene therapies that can address diseases affecting millions of patients around the world,” said Dr. Shankar Ramaswamy, co-founder and CEO of Kriya Therapeutics.
Ramaswamy added that the Redpin gene therapy programs have “the potential to transform the lives of patients.”
The chemogenetics platform developed by Redpin “can selectively activate or silence disease-causing neurons, while leaving normal functioning cells unaffected,” a statement from Kriya noted.
Redpin had been backed by 4BIO Capital, Arkin Bio Ventures, Takeda Ventures Inc, New York Ventures and Alexandria Venture Investments.
Kriya brought in $270 million in a Series C fundraising round earlier this year with plans to expand in North Carolina as well as to expand its portfolio of gene therapy programs. That fundraising round followed the purchase of fellow Triangle-area company Warden Bio in January.
In July 2021, Kriya landed $100 million in a Series B round. The company’s Series A round in May 2020 brought in $80.5 million, WRAL TechWire reported.
The company has core operations in both the Triangle and in Silicon Valley, with a focus on “pioneering novel technologies and therapeutics in gene therapy,” it noted in a statement.
