Rubius Therapeutics received financing to develop its “superblood”

| By | Drug Development, R&D

Rubius Therapeutics, a biotechnology company pioneering the creation of a new class of extraordinarily active, ready-to-use and life-changing cellular therapies, announced the successful completion of an oversubscribed $100 million crossover financing.

Rubius Therapeutics is a biotech startup that is creating “superblood” to treat a range of conditions including cancer. Previously, the company raised $120 million from investors, thereby bringing its total haul close to the one quarter of a billion dollars mark — all in less than one year.

Rubius has developed the technology to grow, genetically engineer and mature long-circulating Red-Cell Therapeutics™ (RCT™) products, which have the potential to provide transformational clinical benefits to a wide range of patients across multiple therapeutic areas. Proceeds from the financing will be used to accelerate the development of the Company’s portfolio of RCTs™ towards clinical proof-of-concept, and to enhance its manufacturing capacity and capabilities.

RCT™ products are genetically engineered, enucleated red cells that are being developed to provide allogeneic, ready-to-use cellular therapies to patients across multiple therapeutic areas. The advantages of RCT products over other therapies include immuno-privileged presentation of proteins within or on the red cell, high target avidity and affinity, and long circulation half-life. Rubius RCTs exhibit fundamentally unique and potent biology; they have been engineered to replace missing enzymes for patients living with a variety of rare diseases, to kill tumors, and to upregulate or downregulate the immune system to treat both cancer and autoimmune disorders.

SOURCE: rubius
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