On May 23, 2024, Orna Therapeutics, a biotechnology firm focused on developing a novel class of fully engineered circular RNA therapeutics, announced its acquisition of ReNAgade Therapeutics. Although the acquisition's financial details were kept a secret, the goal of this calculated move is to combine and grow the RNA-focused technology of the two businesses. With $300 million in Series A funding, ReNAgade was introduced in 2023 and has made great progress in getting RNA medications into previously unreachable cells and tissues. Named to BioSpace’s NextGen Bio Class of 2024, ReNAgade has shown promising results in delivering RNA to multiple extra-hepatic cells in non-human primate models.
Orna, founded in 2021, has developed synthetic circular RNA technology based on research from MIT. In 2022, the business obtained an additional $221 million in Series B fundraising after raising $100 million in Series A funding. Orna was also named to BioSpace’s NextGen Bio Class of 2022. With the acquisition, ReNAgade CEO Amit Munshi will become CEO of Orna, succeeding Tom Barnes. The combined expertise will enhance their pipeline, including panCAR programs for autoimmune diseases and oncology, genetic disease programs, and a vaccine program in partnership with Merck. The merger positions Orna to advance best-in-class RNA therapies and address significant unmet medical needs.
