Company type | Private |
---|---|
Industry | Pharmaceutical |
Founded | 2015 |
Headquarters | Waltham, Massachusetts, United States |
Key people | Jennifer Petter, PhD, Founder and Chief Innovation Officer, Michael Gilman, PhD, CEO |
Website | www |
Arrakis Therapeutics is a biopharmaceutical company developing oral medicines that target RNA to treat a range of diseases. [1] [2] The company is based in Waltham, Massachusetts, and was founded in 2015 by Jennifer Petter, now the company's Chief Innovation Officer. [3] [4] In October 2016, Michael Gilman, a former Biogen executive, was named CEO. [5]
In 2017, the company raised a $38 million investment from venture capital firm Canaan Partners as well as Celgene and Pfizer. [1] Arrakis was founded to focus on purposefully discovering RNA-targeting small molecule drugs. [6] Other companies had previously discovered drugs based on RNA-targeting small molecules, however, they were found opportunistically. [1]
Arrakis has been able to identify RNA binding sites where small molecule drugs can bind using a bioinformatics tool. [7] The company also utilizes chemical biology tools to confirm whether their compounds are inhibiting RNA cells, and also whether the compounds are specifically targeting the disease-associated RNA. [7]
In April 2019, Arrakis raised $75 million in financing to continue its development of small-molecule drugs that target RNA. [8] In April 2020, Arrakis signed a $190 million licensing agreement with Swiss multinational healthcare company Roche for exclusive rights to Arrakis' drugs developed to treat a range of diseases, including cancer. [3] In January 2022, Arrakis entered a partnership with biopharmaceutical company Amgen to develop oral drugs that target and degrade RNA. Amgen agreed to make an upfront payment of $75 million to Arrakis, with the possibility of further funding if research and development proceed as planned. [9]
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