City Therapeutics has raised close to $100 million in a Series B funding round to accelerate development of its RNA interference (RNAi) drug platform and advance its clinical pipeline, according to a company announcement.
The financing round included participation from new investors such as Viking Global Investors, Sofinnova Investments, Casdin Capital, and NYBC Ventures, alongside existing backers including Regeneron Ventures, Arch Venture Partners, and Fidelity Management & Research.
The biotech company, founded in 2024 with support from RNAi pioneers formerly associated with Alnylam Pharmaceuticals, is focused on expanding the therapeutic potential of RNA interference beyond existing applications. Its leadership believes the modality could reshape medicine in a way similar to how antibody therapies transformed treatment approaches in previous decades.
City Therapeutics currently has three wholly owned programs in development, including a lead candidate targeting Factor XI, a protein involved in blood clotting. The company is preparing for early clinical readouts from Phase 1 trials and expects to initiate Phase 2 studies as it advances its pipeline.
A key focus of the company’s strategy is improving delivery of RNAi therapies beyond the liver into other tissues, including potentially the central nervous system. The company’s approach involves engineering smaller and more adaptable RNA molecules designed to reach previously inaccessible targets in the body.
The lead Factor XI program is being developed for patients who cannot safely use existing anticoagulants due to bleeding risk. The company points to genetic evidence suggesting that individuals with reduced Factor XI activity experience lower rates of stroke and clot-related events without significant adverse health effects.
Despite the significant funding, the company acknowledges that developing both clinical programs and foundational platform technology is capital-intensive. To support its growth, City Therapeutics is also pursuing partnerships with pharmaceutical companies, building on existing collaborations with firms such as Biogen and Bausch + Lomb.
Company leadership expects additional partnerships in the coming year and suggests that even its lead candidate could eventually attract external collaboration due to its competitive positioning in the Factor XI drug development space.
With its current funding, City Therapeutics expects to maintain operations and advance its clinical programs through at least 2027 while continuing to expand its RNAi platform into new therapeutic areas.
