hC Bioscience Announces Extension of Series A to $40 Million

November 04, 2022
Cambridge, MA

hC Bioscience, Inc., a company developing first-in-class tRNA-based therapeutics targeting protein dysfunction in genetically defined diseases, today announced an extension of $16 million to its Series A funding round, bringing the total raised to $40 million. Taiho Ventures and Panacea Venture joined existing investors, ARCH Venture Partners, Takeda Ventures and 8VC.

hC Bioscience is creating engineered tRNAs with the power to overcome disease-causing issues in the genetic code as proteins are made. hC Bio’s innovations in precision protein editing therapies target genetically-defined diseases including cancer. A single tRNA therapy has the potential to treat many diseases, regardless of the gene or location of the mutation.

“We are thrilled to announce our Series A extension of $16 million and welcome Seiji Miyahara, Taiho Ventures, and Benjamin Chen, Panacea Venture, to our board of directors,” said Leslie Williams, co-founder, director and chief executive officer of hC Bioscience. “The additional support will allow us to expand our pipeline more rapidly and extend our runway,” Williams said. “We are excited to advance our lead drug candidates in cancer and genetic disease by delivering tRNA both locally and systemically.”

Dr. Steven Gillis, chairman of the board, stated, “This follow-on financing in challenging markets further validates the potential of hC Bio’s approach to advance tRNA based treatments. It further underscores investor confidence in the hC Bioscience team to continue to make progress toward bringing tRNA based therapeutics to the clinic.”