Fierce Biotech August 22, 2024
Novartis’ $3.2 billion deal for Chinook Therapeutics gave the Swiss Big Pharma such a taste for kidney disease-focused biotechs that it has partnered with VC firm Versant Ventures to create another company in a similar mold.
Borealis Biosciences, which emerged from stealth today armed with $150 million in series A funds, has been created around a focus on “many key members of Chinook’s Vancouver-based research team,” according to Versant, which also founded Chinook.
Borealis, which was jointly launched by Novartis and Versant, is working on next-generation RNA medicines for kidney disease, with the aim of harnessing recent industry breakthroughs like “an improved understanding of patient stratification, genetically defined targets, requirements for delivery of therapeutic payloads to specific kidney cell types,...
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