Nutcracker Therapeutics Raises $167 Million in Series C Financing to Advance its mRNA Therapeutics and First-of-its-Kind Biochip-based Manufacturing Platform

• Financing round led by returning investor ARCH Venture Partners
• Enables accelerated development of therapeutic pipeline built upon its proprietary RNA technology platform
• Industry veteran Michael F. Bigham appointed to the board of directors

Nutcracker Therapeutics, Inc., a biotech company developing RNA therapeutics using its proprietary biochip-based manufacturing platform, today announced it has raised $167 million in Series C financing led by ARCH Venture Partners. The funds will allow the company to expand and advance its pipeline of mRNA medicines for cancer, in addition to further refining its RNA manufacturing platform and the underlying technology.

“The recent success of the mRNA vaccines for COVID-19 has brought newfound energy around the use of RNA as a therapeutic tool,” said Igor Khandros, Ph.D., co-founder, and CEO of Nutcracker Therapeutics. “As a consequence, we have an unparalleled opportunity to bring this emerging class of medicines to treat patients suffering from very complex diseases. With this significant milestone and the support of our top-flight investors and partners, we are well-positioned to begin the next phase of Nutcracker’s evolution: accelerating RNA therapeutics development within the company and beyond using our unique ‘GMP-in-a-box’ platform, and meet the rising demand for RNA therapies and their efficient, scalable manufacturing.”

Nutcracker Therapeutics’ RNA manufacturing platform is at the core of the company’s therapeutic effort. It combines RNA biochemistry with microfluidic engineering, semiconductor-like biochips, and a proprietary nanoparticle delivery technology to create a fully automated and isolated manufacturing pathway. The platform is capable of supporting RNA therapeutic development from discovery to the clinic and commercialization, scaling up appropriately at each stage. Using this platform, the company aims to increase the speed and scale at which therapeutics can be discovered, developed, and manufactured.

Concurrent to the financing, Nutcracker Therapeutics has added Michael F. Bigham, former CEO and current executive chairman of the board of Paratek Pharmaceuticals, to its board of directors. Bigham has more than 30 years of leadership experience in the biopharmaceutical and life science industries, including as a general partner at Abingworth LLP, President and Chief Executive Officer of Coulter Pharmaceuticals, and in various roles at Gilead Sciences, such as Chief Financial Officer and Executive Vice President Operations.

“RNA has unique qualities as a therapeutic modality and could prove to be a first-line tool for many diseases,” commented Bigham. “Nutcracker Therapeutics is well-positioned to develop RNA therapeutics in a scalable and efficient manner with its innovative platform. I’m excited to be a part of the team and help further its goal of advancing its pipeline into the clinic and bringing RNA therapies to patients with the greatest need.”

About Nutcracker Therapeutics, Inc.

Nutcracker Therapeutics is an RNA therapeutics company that has combined the power of advanced engineering with high-precision biosynthesis to deploy a complete RNA therapeutics platform. Armed with this high-tech advantage, we have developed a wholly owned pipeline of RNA therapeutic programs and established partnership initiatives with top clinical investigators at several leading institutions across the globe. With our platform's ability to accelerate the development of life-changing RNA therapeutics, we seek to advance breakthrough RNA therapies at high velocity through all stages of development across a variety of indications. Our technology platform has the potential to significantly reduce costs and cycle times for RNA therapeutic development, with dramatic advantages in capacity scaling and point-of-care delivery over other RNA manufacturing approaches.

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