Arrakis Therapeutics

Last updated
Arrakis Therapeutics
Company typePrivate
Industry Pharmaceutical
Founded2015
Headquarters Waltham, Massachusetts, United States
Key people
Jennifer Petter, PhD, Founder and Chief Innovation Officer, Michael Gilman, PhD, CEO
Website www.arrakistx.com

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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References

  1. 1 2 3 "Pfizer, Celgene-backed upstart Arrakis hopes to mine RNA spice". Fierce Biotech. February 17, 2017. Retrieved October 23, 2023.
  2. Feuerstein, Adam (2019-04-18). "A biotech startup's lofty goal: Kill cancer with pills that target RNA instead of proteins". STAT. Retrieved 2023-10-23.
  3. 1 2 Gardizy, Anissa (2020-04-08). "Waltham biotech lands big partnership with Roche - The Boston Globe". Boston Globe. Retrieved 2023-10-23.
  4. "Jennifer Petter wants to interfere with RNA to discover new drug targets". C&E News, Chemical & Engineering News. April 8, 2022. Retrieved July 8, 2022.
  5. "Arrakis Raises $38M in Series A Financing and Names Michael Gilman as CEO". GEN, Genetic Engineering & Biotechnology News. February 27, 2017. Retrieved October 23, 2023.
  6. Cross, Ryan (2017-11-27). "The RNA drug hunters". Chemical & Engineering News. Retrieved 2023-10-23.
  7. 1 2 Lisa M, Jarvis (2017-02-17). "Arrakis launches to develop RNA-targeting small-molecule drugs". Chemical & Engineering News. Retrieved 2023-11-14.
  8. Cross, Ryan (2019-04-20). "Arrakis raises $75 million series B for RNA-targeting small molecules". Chemical & Engineering News. Retrieved 2024-02-22.
  9. Pagliarulo, Ned (2022-01-11). "Amgen partners with Arrakis to develop drugs aimed at RNA". BioPharma Dive. Retrieved 2024-02-22.