Scoop: Stephen Squinto’s Yale spinout is raising a Series B for genetic medicines

The nucleic acid therapeutics at Stephen Squinto’s Yale-originated biotech are en route to a $40 million R&D payday.

After a Series A of that size in the spring of 2021, Hopewell, NJ-based Gennao Bio is closing on a round of the same amount, Endpoints News has learned. A Series B is in the works, according to an investor’s post on LinkedIn and as confirmed by a spokesperson. An SEC filing on Thursday outlines $15 million in equity sold thus far in the round.

Known for his roles co-founding Alexion and then serving as an OrbiMed executive partner until switching over to JP Morgan this fall to lead its life sciences venture team, Squinto also holds the posts of chair and co-founder of Gennao.

The startup is going after what it calls non-viral gene monoclonal antibody technology, or GMAB, which its founders and scientists hope will systemically deliver various forms of nucleic acids — mRNA, RNAi, DNA and others — into the cell.

The biotech has delivered preclinical results in multiple solid tumor models, including at the American Association for Cancer Research annual confab last April.

Aside from oncology, Gennao has previously disclosed ambitions for also taking its genetic medicines, which it hopes can be re-dosable, into rare monogenic skeletal muscle diseases.

Already backed by OrbiMed, Logos Capital and Surveyor Capital, Gennao has since attracted GordonMD Global Investments, which put Craig Gordon onto the biotech’s board in recent weeks.

Chris Duke

Chris Duke, a former Amicus Therapeutics VP and Advaxis COO, was promoted from the chief operating post to interim CEO in October, according to his LinkedIn bio. Leading the medical operations is Joe McIntosh, a former CMO at Jaguar Gene Therapy and Aruvant Sciences.

Squinto co-founded the startup in 2020 with Yale professors Pete Glazer, Elias Quijano and Bruce Turner. The biotech originated as Delmab Bio. Glazer’s lab also contributed to the launch of Vera Therapeutics, previously known as Trucode Gene Repair and initially focused on gene editing.

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gene therapy
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gene editing
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