In the first installment of a new series on the investment environment in cell and gene therapy, Circio CEO Erik Wiklund explains how he had to get creative to raise funds in a difficult biotech market
Circio has shifted focus from cancer vaccines to a preclinical circular RNA platform amid a challenging funding environment for cell and gene therapy. The company has successfully secured financing through innovative approaches and data on AAV gene therapies utilizing circular RNA.
Background
The funding landscape for cell and gene therapy (CGT) has become increasingly cautious, with investors prioritizing technologies that address previous limitations. This shift impacts the development and viability of innovative therapies, particularly in the context of federal research support.
Data Highlights
Circio demonstrated a 40-fold increase in protein expression using AAVs that express genes via circular RNA.
Key Findings
Circio abandoned its clinical cancer vaccine programs to focus on circular RNA technology.
The company engineered AAVs that utilize circular RNA, resulting in a 40-fold increase in protein expression in preclinical studies.
Circio secured funding from a top five pharmaceutical company to advance its circular RNA strategy for CNS diseases.
Recent financing rounds raised approximately $33 million.
Investor sentiment has shifted towards longer-term financing strategies.
Clinical Implications
The transition to circular RNA platforms may offer new avenues for gene therapy. The evolving funding landscape has implications for research and development in CGT.
Conclusion
Circio's strategic pivot to circular RNA technology illustrates the adaptability required in the current funding climate for cell and gene therapy.
