Collaboration will combine ReCode’s unique delivery technology with AskBio’s gene editing and DNA cargoes to develop novel gene correction therapies for the liver and lung
Menlo Park, Calif. – January 9, 2023 – ReCode Therapeutics, a genetic medicines company using superior delivery to power the next wave of mRNA and gene correction therapeutics, announced today it has signed a multi-year research collaboration and option agreement with Asklepios BioPharmaceutical, Inc. (AskBio), a wholly owned and independently operated subsidiary of Bayer AG. This strategic collaboration is focused on the discovery of precision genetic medicines through the development of a novel platform for full gene insertion by single vector delivery of gene editing and DNA cargoes.
“AskBio’s pioneering gene-editing technology is a powerful complement to our modular SORT LNP genetic medicines platform, which enables the precise delivery of a wide variety of genetic cargoes to specific organs and cells, including large, complex genetic cargoes and mixed payloads,” said Shehnaaz Suliman, M.D., MBA, M.Phil., chief executive officer of ReCode Therapeutics. “We are excited to combine these unique platforms to develop next-generation genetic therapies with the potential to transform the lives of patients suffering from a wide range of debilitating genetic diseases.”
Under the agreement, AskBio will combine its synthetic DNA and gene editing nucleases with ReCode’s selective organ targeting (SORT) lipid nanoparticle (LNP) technology to develop an all-in-one solution that enables full gene insertion by delivering with precision both the gene editing tool and DNA as mixed cargo in a single LNP to desired targets. The collaboration could extend the reach of gene editing for liver and lung disease targets.
“This collaboration pairs AskBio’s expertise in synthetic DNA and CRISPR applications with ReCode’s novel SORT LNP delivery technology to enable the potential discovery of new genetic medicines with novel genetic cargoes,” said Sheila Mikhail, chief executive officer of AskBio. “Through this collaboration, we have an opportunity to advance AskBio’s gene editing and non-viral delivery efforts, which support and align with our commitment to serve as an engine of gene therapy innovation.”
Under the terms of the agreement, ReCode will receive an upfront cash payment with potential for downstream milestone payments and royalties on novel therapeutics resulting from the collaboration.
In June 2022, ReCode announced the closing of a $200 million Series B extension financing round, co-led by Leaps by Bayer, the impact investment unit of Bayer AG, and AyurMaya, an affiliate of Matrix Capital Management, with participation by Amgen Ventures. The initial Series B financing was co-led by Pfizer Ventures and EcoR1 Capital and included Sanofi Ventures, OrbiMed, Vida Ventures, MPM Capital, and other new and existing investors. Proceeds from the financing are being used to advance the development of ReCode’s platform and pipeline to selectively deliver genetic medicines to targeted organ and cell types in a predictable and programmable fashion.
Asklepios BioPharmaceutical, Inc. (AskBio), a wholly owned and independently operated subsidiary of Bayer AG, is a fully integrated gene therapy company dedicated to developing life-saving medicines and changing lives. The company maintains a portfolio of clinical programs across a range of neuromuscular, central nervous system, cardiovascular and metabolic disease indications with a clinical-stage pipeline that includes therapeutics for Pompe disease, Parkinson’s disease and congestive heart failure. AskBio’s gene therapy platform includes Pro10™, an industry-leading proprietary cell line manufacturing process, and an extensive capsid and promoter library. With global headquarters in Research Triangle Park, North Carolina, and European headquarters in Edinburgh, UK, the company has generated hundreds of proprietary capsids and promoters, several of which have entered clinical testing. Founded in 2001 and an early innovator in the gene therapy field, the company holds more than 750 patents in areas such as AAV production and chimeric and self-complementary capsids. Learn more at www.askbio.com or follow us on LinkedIn.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2020, the Group employed around 100,000 people and had sales of 41.4 billion euros. R&D expenses, before special items, amounted to 4.9 billion euros. For more information, go to www.bayer.com.
About ReCode Therapeutics
ReCode Therapeutics is a genetic medicines company using superior delivery to power the next wave of messenger RNA (mRNA) and gene correction therapeutics. ReCode’s selective organ targeting (SORT) lipid nanoparticle (LNP) platform is a next-generation, genetic medicines technology that enables precise delivery to target organs and cells beyond the liver. The SORT LNP platform is the foundation for ReCode’s pipeline of disease-modifying mRNA and gene correction therapeutics. ReCode’s lead programs are focused on primary ciliary dyskinesia and cystic fibrosis. ReCode is leveraging its SORT LNP platform and nucleic acid technologies to expand its pipeline with therapeutics that use mRNA-mediated replacement and gene correction in target organs with precision targeting of disease-relevant cells. In 2022, ReCode was named among Fierce Biotech’s “Fierce 15” as one of the most promising early-stage biotechnology companies in the industry, and was described by Nature as one of the “Seven Technologies to Watch in 2022” for its SORT LNP platform. For more information, visit www.recodetx.com and follow us on Twitter @ReCodeTx and on LinkedIn.
The Grace Communication Group