Orna Therapeutics was created in 2019 by MPM and BioImpact Capital based on MIT research and is developing circular RNA (oRNA) platforms for vaccines and therapeutics. Its circular RNA approach is designed to offer greater stability than linear mRNA and to produce larger quantities of therapeutic protein in vivo. Orna also develops proprietary lipid nanoparticles and has a joint venture with ReNAgade Therapeutics for RNA delivery. The company’s pipeline targets infectious diseases, oncology, and other illnesses, and the collaboration announced covers multiple programs across vaccines and cancer. Orna plans to accelerate development through a landmark collaboration and expects to derive royalties on approved products. Financially, Orna announced a $221 million Series B at a valuation above $1.5 billion and will receive $150 million upfront under the collaboration plus up to $3.5 billion in development, regulatory, and sales milestones. Orna Therapeutics is dedicated to designing and delivering a new class of fully engineered circular RNA (oRNA) therapeutics. Its proprietary platform combines molecular design and delivery technologies to create oRNAs that drive protein expression. The company aims to treat a wide range of diseases including cancer, autoimmune, and genetic disorders. Orna was founded on research from MIT and was seeded and incubated by MPM Capital; founders include Robert Alex Wesselhoeft, Raffaella Squilloni, and Professor Dan Anderson. Thomas M. Barnes, Ph.D., serves as CEO and the company is supported by an experienced board of directors and scientific advisors. Orna completed an $80M Series A financing to advance its oRNA platform.

Total raised

$301M

Funding rounds

2

Latest round

Series B

Latest activity

Aug 2022