Australian biotech company RAGE Biotech has raised $29 million in Series A funding to accelerate its lead precision RNA therapy into clinical development, while announcing two senior leadership appointments as it prepares for a pivotal year of growth.
The Melbourne-based company, which is developing splice-switching oligonucleotide (SSO) therapeutics to target chronic inflammatory diseases, named Dr Siro Perez as Chief Executive Officer and Dr Edwin Tucker as Chief Medical and Development Officer.
The funding round was led by IP Group Australia and Hostplus, with continued support from Monash Ventures. The new capital will support the company’s transition from pre-clinical research to first-in-human studies of its lead program, RB042, an inhaled SSO therapy for chronic obstructive pulmonary disease (COPD) and other inflammatory lung conditions.
Founded as a spin-out from Monash University in collaboration with IP Group Australia and other research partners, RAGE Biotech is built on two converging areas of expertise. They are the role of Receptor for Advanced Glycation End-products (RAGE) in inflammation, and the therapeutic potential of splice-switching oligonucleotides to modify disease pathways at a genetic level.
Dr Perez, who played a key role in establishing RAGE Biotech while leading IP Group Australia’s Life Sciences portfolio, said the company’s lead program could represent a significant advance in treating chronic inflammatory disease. “I have deep conviction in the promise of RB042 to overcome chronic disease where the unmet need is immense and current therapies are limited to symptom management,” he said. “RB042 offers the potential for a disease-modifying therapy in COPD, a market with millions of patients worldwide and few effective options.”
Dr Tucker joins the company following senior clinical leadership roles in the United States, including Chief Medical Officer at Jasper Therapeutics, where he oversaw programs in inflammation and antibody therapy. He said RAGE Biotech’s approach represented “an exciting and credible path to transform care for patients with severe inflammatory disease.”
Founding CEO Dr Chris Wraight will remain with the company as Chief Scientific Officer, continuing to oversee scientific strategy and pipeline expansion.
The company’s scientific founder, Professor Merlin Thomas, stated that the program builds upon decades of research into RAGE biology. “Activation of RAGE is a critical driver of human disease. We’ve developed a novel way to block RAGE by harnessing a natural inhibitor made by the lungs, enabling transformative therapies across a range of potential indications,” he said.
Monash University Deputy Vice-Chancellor Professor Robyn Ward AM described the company’s progress as “a clear example of how collaboration and commitment to innovation translate into outcomes that improve lives.”