Sana Biotech Completes Massive Initial Financing Round

Sana Biotechnology, Inc. (Sana), focused on engineering cells as medicines for patients, announced today the funding of all tranches of its initial financing, raising over $700 million. 

Sana’s shareholders include ARCH Venture Partners, Flagship Pioneering, Canada Pension Plan Investment Board, Baillie Gifford, F-Prime Capital, Alaska Permanent Fund, the Public Sector Pension Investment Board, Bezos Expeditions, GV, Omega Funds, Altitude Life Science Ventures, and multiple unnamed institutional investors. 

“Sana is dedicated to modulating genes in cells as well as replacing damaged cells in the body,” said Steve Harr, Sana President and CEO. “The commitment from this group of long-term investors enables us to concentrate on making discoveries that overcome the most important challenges to making gene and cell therapies that improve the lives of a broad swath of patients. I am proud of our progress to date in turning our technologies into potential therapies for serious diseases such as cancer, central nervous system diseases, heart disease and various genetic disorders.” 

Proceeds from Sana’s financing will be used to advance discovery and development within the company’s core platforms, including gene delivery, immunology, stem cell biology, and gene modification and control. Some approaches include in vivo delivery of genetic payloads to specific cells, ex vivo genetic modifications that hide allogeneic cells from a patient’s immune system, and applying stem cell biology to make differentiated cells to replace missing or damaged tissue. Proceeds are expected to support IND-enabling and initial clinical studies for multiple therapeutic candidates, buildout of manufacturing capabilities, and expansion of the company’s portfolio of enabling technologies. They will also support the continued addition of top talent to Sana’s team. 

According to Sana, three aspirations drive the company’s strategy to treat patients with poor outcomes or currently untreatable diseases:

  1. Repair and control genes in any cell In the area classically thought of as gene therapy, we are investing in both delivery and gene modification capabilities.
  2. Replace any cell in the body The convergence of stem cell biology and immunology means we have the potential to replace missing or damaged tissue in the body.
  3. Tear down barriers to accessing our therapies Scalable manufacturing with a focus on the cost of manufacturing, and working to align with key stakeholders will enable broader patient access to our therapies.
Sana Biotech Completes Massive Initial Financing Round was last modified: June 23rd, 2020 by Contributor