Dallas-based startup ReCode Therapeutics works on new lung disease drugs. Now, the company received a $80M funding round. The round was led by (also Dallas-based) single family office Colt Ventures.
Funding for an innovative biotech startup from Dallas
ReCode Therapeutics was founded by Daniel Siegwart and Philip Thomas, who met at University of Texas Southwestern Medical Center. The company works on diverse drugs for “r primary ciliary dyskinesia (PCD) and nonsense mutations in cystic fibrosis (CF)”. ReCode’s drugs are based on its “proprietary non-viral lipid nanoparticle platform”. The Texas startup wants to file a investigational drug application with the FDA by 2021.
Blanton Single Family Office from Dallas as lead investor
Now, ReCode Therapeutics received an $80M Series A funding round for its further development. The round was led by Cold Ventures and healthcare investment firm OrbiMed Advisors. Another participating investor was Hunt Technology Ventures from Dallas. Also part of the funding round: a merger with Menlo Park startup TranscriptTX, whose CEO David Lockhart will run the combined company in the future. Lead investor Colt Ventures is the single family office of Darren Blanton. Colt Ventures invests in public company (like Intrexon or Rocket Pharma) as well as private biotech firms.
Picture source: Matthew T Rader
Source: Dallas Innovates, 29.03.2020
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