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Posted on 15/09/2023 in Biotechnology

Disease Therapeutics Secures $55M

Actio Biosciences is a San Diego, California-based biotechnology company that is developing new therapeutics for rare and common diseases. The company's platform uses genetics and precision medicine to identify targets and advance programs for rare disease indications. Its pipeline is led by a program targeting TRPV4, an ion channel that is mutated in several rare diseases. Actio is partnering with The Jackson Laboratory to evaluate targets and phenotypes of interest in genetically engineered mouse models. The company was founded in 2022 by David Goldstein, PhD, and David Breckenridge, PhD. The company's leadership team also includes John Link, PhD, Sunil Sahdeo, PhD, Nick Stock, PhD, Ali Torkamani, PhD, and Anne Sandan, CPA. The company's board of directors includes George Golumbeski, PhD, Jason Fuller, PhD, David Goldstein, PhD, Nina Kjellson, John McHutchison, AO, MD, and Alex Tkachenko, PhD.

Actio Biosciences has raised $55 million in Series A financing. The round was led by Canaan and DROIA Ventures, with participation from existing investors Deerfield Management and EcoR1, as well as new investor Euclidean Capital. The company plans to use the funds to advance its pipeline of programs targeting TRPV4 and other rare disease targets. Actio is also planning to expand its team and establish additional partnerships with academic centers and pharmaceutical companies. Actio Biosciences is a promising new company that is developing innovative therapies for rare and common diseases. The company's platform has the potential to identify and develop new treatments for a wide range of diseases.

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