On March 1, 2018 Rubius Therapeutics, a biotechnology company pioneering the creation of a new class of extraordinarily active, ready-to-use and life-changing cellular therapies, reported the successful completion of an oversubscribed $100 million crossover financing (Press release, Rubius Therapeutics, MAR 1, 2018, View Source [SID1234524362]). In just under nine months, the Company has now raised over $220 million.
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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. These allogeneic, off-the-shelf products offer the additional advantage of extended stability and storage to allow for rapid, universal access by the medical community. 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.
"The addition of this funding further strengthens our foundation and enables us to accelerate the development of our first wave of RCT products that are targeting treatment of enzyme deficiencies, cancer and autoimmune disease," said Torben Straight Nissen, Ph.D., President of Rubius Therapeutics. "We have assembled an extremely talented team of investors, leadership and advisors, which all share the long-term vision of bringing novel cellular therapies to patients."
"We are pleased with the quality of the investor group participating in this financing, and would like to thank our new and existing investors," said David Epstein, Executive Chairman of Rubius and Executive Partner of Flagship Pioneering. "Their strong support further validates the potential of RCT products and the opportunity that we have to make a meaningful impact in the lives of patients."
"Rubius has become one of the most exciting members of the Flagship family of companies; applying scientifically disruptive insights against unsolved problems to create groundbreaking new therapies," said Noubar Afeyan, CEO of Flagship Pioneering and Co-Founder of Rubius. "We are excited to further support Rubius in this crossover round as the company continues to advance the next generation of cellular therapies."