Strand’s Programamble mRNA Pipeline Advances on $153 Million in New Funding

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Strand Therapeutics (Strand), an early-stage biotechnology company specializing in synthetic biology for messenger RNA (mRNA) therapeutics, secured $153 million in Series B financing in early August 2025 to advance its pipeline of programmable mRNA therapeutics (1).

The financing will accelerate clinical development of STX-001, an investigational mRNA therapy designed to express cytokine interleukin-12 (IL-12) directly within the tumor microenvironment. Strand presented early Phase I data at the 2025 American Society of Clinical Oncology (ASCO) annual meeting, which occurred on May 30–June 3, 2025 in Chicago. The data showed multiple response evaluation criteria in solid tumor responses—including complete and complete metabolic responses—prolonged disease stabilization, and a favorable safety profile in treatment-resistant patients with advanced solid tumors.

“We believe programmable RNA is the next frontier in therapeutics,” Christian Scherrer, senior investment director and head of Health and Bio at Kinnevik, said in an Aug. 7, 2025 company press release (1). “Their early clinical data is outstanding, and the systemic delivery capability has the potential to reshape how we treat disease, starting with cancer, with more disease targets on the horizon. We look forward to partnering with founders Jake [Becraft, PhD] and Tasuku [Kitada, PhD] and the entire team as they move into this next phase of growth.”

Expanding clinical and preclinical pipeline in cancer immunotherapy

Strand’s research is grounded in the therapeutic potential of IL-12, a pro-inflammatory cytokine produced by antigen-presenting cells such as macrophages and dendritic cells. IL-12 can stimulate a systemic anti-tumor immune response but has historically been limited by safety concerns when delivered systemically (2). STX-001 encodes IL-12 in a self-replicating mRNA construct, allowing localized and durable therapeutic activity directly at tumor sites (1).

Earlier in 2025, Strand reported preclinical findings for STX-003, a systemically administrable, tumor-targeted mRNA therapy programmed to avoid off-target payload delivery, including liver exposure. Data presented at the 2025 meetings of the American Association for Cancer Research and the American Society of Gene & Cell Therapy indicated the candidate could deliver IL-12 selectively to tumors following intravenous lipid nanoparticle–mRNA administration, showing anti-tumor effects while maintaining tolerability.

“With support from our investors, we’re advancing our vision of developing safe, effective, and accessible therapies through programmable genetic medicines, especially for those patients with few treatment options,” said Jake Becraft, PhD, CEO and co-founder of Strand Therapeutics In the release. “Our initial STX-001 Phase I data provides early and strong clinical validation of our platform’s capabilities. We have observed systemic immune activation and anti-tumor responses, including responses in non-injected lesions, across multiple tumor types. Now is an exciting period of expansion for our existing clinical work, as well as the exciting breakthrough assets in our pipeline, all with the potential to transform the treatment of cancer and other serious diseases.”

About the technology platform

Strand’s platform integrates advanced mRNA modalities such as self-replicating and circular RNA with genetically programmed logic circuits to enable precise therapeutic payload delivery to targeted cells and tissues. For drug developers, these capabilities could expand treatment options for cancers and other chronic diseases that have resisted conventional approaches, while offering the potential for scalable manufacturing and broader patient access.

STX-001 is under evaluation in a Phase I/II trial (NCT06249048) (3) cleared by FDA in December 2023. The company dosed its first patient ahead of the 2024 ASCO meeting and has since begun generating clinical data that may help define the future role of programmable RNA in oncology.

Investors spearheading the funding round

The funding round, led by Kinnevik with participation from Regeneron Ventures, ICONIQ, Amgen Ventures, Alderline Group, JIC-VGI, LG Technology Ventures, Gradiant, and existing investors, including FPV Ventures, Playground Global, Eli Lilly and Company, ANRI, and Potentum, brings the company’s total capital raised to more than $250 million. Ala Alenazi, PhD, investment manager at Kinnevik, will join Strand’s board of directors as part of the investment.

References

1. Strand Therapeutics. Strand Therapeutics Raises $153 Million Series B Financing to Further Advance Programmable mRNA Therapeutic Pipeline. Press Release. Aug. 7, 2025. https://www.businesswire.com/news/home/20250807475027/en/Strand-Therapeutics-Raises-%24153-Million-Series-B-Financing-to-Further-Advance-Programmable-mRNA-Therapeutic-Pipeline
2. Jia, Z.; Ragoonanan, D.; Mahadeo, K. M.; et al. IL12 Immune Therapy Clinical Trial Review: Novel Strategies for Avoiding CRS-Associated Cytokines. Front. Immunol. 2022, 13, 952231. DOI: 10.3389/fimmu.2022.952231
3. Strand Therapeutics. Phase 1/2 Study of Intratumoral Injection of STX-001 in Advanced Solid Tumors as Monotherapy or in Combination with Pembrolizumab. clinicaltrials.gov, last updated Feb. 11, 2025 (accessed Aug. 12, 2025). https://clinicaltrials.gov/study/NCT06249048