LNP biotech looks to go beyond the liver, raising $25M in seed money to move forward

Hopewell Therapeutics announced $25 million in seed funding on Wednesday, with the Boston-area biotech looking to make the next breakthrough in delivering medicines beyond the liver.

The seed round was backed by a number of venture capital firms, including 5Y Capital and Mass Ave Capital, and will be used to expand Hopewell’s internal lab capabilities and grow its lipid nanoparticle library, according to CEO Louis Brenner. The company’s also looking for external partnerships with companies focused on cancer.

Qiaobing Xu

Hopewell, which was founded in 2021, has 25 employees. It’s looking at tissue-targeted lipid nanoparticles for lung disease, specifically targeting pulmonary basal cells via organs or tissue. The company holds exclusive clinical and commercial rights for its lipid nanoparticles from Tufts University, where its founder, Qiaobing Xu, is a professor of biomedical engineering.

Xu is now Hopewell’s chief scientific officer, and Brenner joined the company last year as chief executive.

The biotech said it is still looking to raise additional capital.

“We’re always in the cash-raising business,” Brenner said.

Hopewell also has its own internal RNA synthesis capabilities. “We think for mRNA-based approaches, we’re in a good position,” Brenner added.

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