Next-generation RNA drugmaker Alltrna has raised a $109 million Series B round, the Flagship Pioneering-incubated company announced Wednesday.
Alltrna focuses on transfer RNA, or tRNA, the molecules that shepherd the building blocks of proteins to the ribosome. tRNA therefore plays an important, but long overlooked, role in the translation of genetic instructions into proteins.
The startup, which emerged from stealth in 2021, aims to treat genetic conditions under a descriptive umbrella it terms “Stop Codon Disease,” or diseases involving a mutation that prematurely “stops” the translation of a protein’s genetic code.
Thousands of rare and common diseases stem from these genetic typos, affecting millions of people worldwide, according to Alltrna.
Alltrna’s scientists claim that working with tRNA can help them sidestep the time-consuming customization of genetic medicines to each specific disease they might treat. Because of tRNA’s ubiquity in protein synthesis, the company says it can make a "universal solution" for “stop codon” conditions, said Michelle Werner, Alltrna’s CEO.
“What's really rewarding for us is to hear excitement and enthusiasm around the unmet need and the novel way that we're looking to address it, but also how much progress we've made as a company over the course of the last few years,” Werner said.
The company’s grand ambition is typical of a startup backed by Flagship, which favors big bets on emerging science. The investor also incubated Moderna as well as Laronde, which is pursuing so-called endless RNA with similarly broad goals. Yet the realities of drug discovery are sometimes messier: Laronde, for instance, has reportedly struggled with serious data issues.
Alltrna has not disclosed much about its research pipeline, which it’s building by using machine learning tools to help design tRNA molecules. However, the company presented mouse model data at a research conference in May showing how modified tRNA molecules can help restore protein expression.
Flagship participated in the Series B round, along with an unnamed investor syndicate. The latest round of financing is expected to help the company get its lead development candidates into the clinic, Werner said.
“The team has made significant advancements to confirm that Alltrna’s platform can turn tRNA’s sophisticated biology into programmable medicines to restore disrupted protein production, regardless of target, for thousands of diseases with the same underlying genetic mutation,” Lovisa Afzelius, an origination partner at Flagship and co-founder of Alltrna, said in a statement.