Breezebio Inc., formerly known as Genedit Inc., has closed $60 million in series B financing to advance its first internal therapeutic programs toward the clinic and to continue expansion of the company’s Nanogalaxy delivery platform.
Genedit Inc. has entered into a multiyear collaboration and license agreement with Genentech Inc., a member of the Roche Group, to use Genedit's Nanogalaxy platform to discover and develop novel hydrophilic nanoparticles to deliver Genentech's nucleic acid-based medicines for treatment of autoimmune disease.
Getting revolutionary genetic medicines to the right place is the reason Genedit Inc. was created, and CEO Kunwoo Lee pared down the mission in one word. “Delivery, delivery, delivery,” Lee told BioWorld in describing the goal of Genedit’s Nanogalaxy platform that is focused on delivering genetic medicines into select tissue. Privately held Genedit will work with Genentech to find and develop hydrophilic nanoparticles for creating nucleic acid-based drugs to treat autoimmune diseases. Genedit is getting $15 million up front in a new deal that could bring in up to $629 million in near-term, preclinical and clinical development, commercial and net sales milestones.
Combining Sarepta Therapeutics Inc.’s gene editing technology and Genedit Inc.’s Nanogalaxy platform to treat neuromuscular disorders shows promising potential, the companies reported. A year into the research collaboration, Genedit’s polymer nanoparticles have demonstrated the ability to deliver therapeutic cargo to specific muscle tissue following system administration of targeted genetic medicines.
