After working off $20 million in seed funding for about four years, HAYA Therapeutics tapped the funding well and came back with $65 million to get its cardiac fibrosis treatment candidate into human trials.
The Swiss biotech plans to use the Series A funds to help get HTX-001 into the clinic early next year, CEO Samir Ounzain told
Endpoints News
. It first wants to assess the long non-coding RNA-targeting candidate in patients with non-obstructive hypertrophic cardiomyopathy.
HAYA is one of a handful of drug developers working in the “dark genome” space, and the Series A, which was announced Thursday morning, marks a pivotal moment for the startup as it moves from a longstanding seed-stage outfit to a near-clinical company. Many preclinical biotechs, especially those trying to advance new scientific ideas, have
struggled to weather
the industry’s yearslong funding downturn.
The biotech, which has about 40 employees, seeks to reprogram cell states that spur common, chronic and age-related diseases.
It’s an ambitious mission, but HAYA now has blue-chip European investors like Sofinnova Partners and Earlybird Venture Capital to bankroll its R&D. Additional investors include ATHOS, +ND Capital, Alexandria Venture Investments and LifeLink Ventures, plus existing backers like Apollo Health Ventures and others.
“What actually is driving outcomes in common and chronic disease? It’s cells changing identity. It’s cell stage changes,” Ounzain said. “What regulates cell state changes? It’s your environment and your common genetic variation that predisposes how you respond to the environment. Where are those signals interpreted by your cell? It’s in the dark genome. RNA produced from the dark genome transacts that and can be targeted. That resonated strongly with investors.”
The capital injection arrives two months after HAYA named
Richard Law
as its chief business officer, highlighting the former Exscientia executive’s experience in biopharma dealmaking and fundraising.
HAYA signaled outsider confidence in its platform last fall, when Eli Lilly stepped in for an
up to $1 billion bet
that the fledgling biotech could help the Indianapolis behemoth make new medicines for obesity and metabolic diseases. The companies kept mum on the specific breakdown of the upfront and milestone payments.
Elsewhere in the dark genome space, NextRNA also forged a large pharma pact last year
with Bayer
in cancer. Meanwhile, Rome Therapeutics, which has the backing of
multiple drug giants
, laid off 17 employees in December as it refocused its pipeline on autoimmune and neurodegenerative diseases and
deprioritized other areas
of dark genome research.
Ounzain said HAYA may explore additional partnerships to take its platform into other therapeutic areas.
Beyond its lead cardio drug, HAYA has a second project in the works for pulmonary fibrosis and a third idea generating steam for the tumor microenvironment, according to Ounzain.