Strand Therapeutics Raises $153 Million Series B Financing to Further Advance Programmable mRNA Therapeutic Pipeline

Funding will advance Strand’s pipeline and mission to bring targeted, next-generation mRNA therapies to patients

First-in-human solid tumor Phase 1 data from lead program, STX-001, was recently presented at 2025 ASCO Annual Meeting

BOSTON--(BUSINESS WIRE)--Strand Therapeutics, a leader in next-generation mRNA-based therapeutics, today announced $153M Series B funding led by Kinnevik, with new investors Regeneron Ventures, ICONIQ, Amgen Ventures, Alderline Group (the family office of Alex Gorsky), JIC-VGI, LG Technology Ventures, and Gradiant Corporation, with continued participation from existing investors including FPV Ventures, Playground Global, Eli Lilly and Company, ANRI, and Potentum. To date, Strand has raised over $250M. As part of the financing, Ala Alenazi, Ph.D., of Kinnevik, will join the company’s Board of Directors.

The funding will advance Strand’s pipeline, led by STX-001, a programmable mRNA therapy that expresses the cytokine interleukin-12 (IL-12) directly from the tumor microenvironment. The company recently announced promising initial Phase 1 clinical data for patients with advanced solid tumors at the 2025 ASCO annual meeting, noting multiple RECIST responses (including cases of complete response and complete metabolic response), multiple cases of prolonged disease stabilization, and a favorable safety profile in treatment-resistant patients.

Earlier this year, Strand also presented preclinical data for STX-003, a world-first systemically administrable mRNA therapy with tumor targeting that is programmed to avoid off-target payload delivery (including liver avoidance), showing the first glimpse into the massive potential of their programmable mRNA genetic circuits. Data presented at the 2025 AACR and ASGCT annual meetings demonstrated the candidate’s potential to target expression of IL-12 to tumors following systemic administration of the LNP-mRNA drug, creating an effective anti-tumor therapy that was well tolerated.

IL-12 is a potent pro-inflammatory cytokine primarily produced by antigen-presenting cells such as macrophages and dendritic cells. IL-12 holds significant promise in cancer immunotherapy due to its robust immunostimulatory effects. STX-001 encodes IL-12 which Strand has designed so that it can reprogram the tumor microenvironment and stimulate a systemic anti-tumor immune response. Unlike traditional mRNA therapies, Strand’s approach uses self-replicating mRNA, ensuring localized and durable therapeutic activity.

“We believe programmable RNA is the next frontier in therapeutics, and Strand has built the leading platform to unlock it,” said Christian Scherrer, Senior Investment Director and Head of Health and Bio at Kinnevik. “Their early clinical data is outstanding, and the systemic delivery capability has the potential to reshape how we treat disease, starting with cancer, with more disease targets on the horizon. We look forward to partnering with founders Jake and Tasuku and the entire team as they move into this next phase of growth.”

“With support from our investors, we’re advancing our vision of developing safe, effective, and accessible therapies through programmable genetic medicines, especially for those patients with few treatment options,” said Jake Becraft, PhD, CEO and Co-founder of Strand Therapeutics. “Our initial STX-001 Phase 1 data provides early and strong clinical validation of our platform’s capabilities. We have observed systemic immune activation and anti-tumor responses, including responses in non-injected lesions, across multiple tumor types. Now is an exciting period of expansion for our existing clinical work, as well as the exciting breakthrough assets in our pipeline, all with the potential to transform the treatment of cancer and other serious diseases.”

Strand’s proprietary platform for programmable and potent mRNA therapeutics is the first of its kind. Its therapies combine best-in-class engineered next-generation mRNA modalities, such as self-replicating mRNA and circular RNA, with genetically programmed logic circuits, allowing for precise, controlled therapeutic payload delivery directly into the cells/tissues themselves. The novel approach brings the potential to effectively treat cancer and other deadly chronic diseases through its targeted therapies that are scalable, accessible, and expand the treatment landscape for patients desperately in need.

About STX-001

STX-001 is an investigational multi-mechanistic, synthetic self-replicating mRNA technology that expresses an IL-12 cytokine for an extended period of time, directly administered to tumors in order to promote immune modulation and antitumor activity. The company received IND clearance from the U.S. Food and Drug Administration (FDA) in December 2023 to initiate a Phase 1/2 clinical trial for STX-001, announced its first patient dosed just before the 2024 ASCO Annual Meeting, and presented the first data of the trial at the 2025 ASCO Annual Meeting. Additional details can be found at clinicaltrials.gov, using identifier: NCT06249048.

About Strand Therapeutics

Strand Therapeutics is leading the next generation of programmable mRNA therapies: where synthetic biology meets programmable biology to unlock the full potential of gene regulation and delivery inside the body. Unlike traditional mRNA technologies, Strand’s platform programs RNA to think, enabling logic-controlled expression, precision delivery, and unprecedented control over therapeutic outcomes.

Born out of MIT and led by world-class synthetic biologists, Strand is building the infrastructure to create medicines that respond to disease signals in real-time. With its computationally-driven design engine, self-amplifying/circular RNA modalities, and mRNA-only genetic circuits, the company is pioneering a new therapeutic modality poised to disrupt immuno-oncology, cell therapy, autoimmune diseases, and beyond.

Strand’s lead pipeline program, STX-001, is already in the clinic showing unprecedented response rates in late stage “salvage” cancer patients, with multiple patients showing RECIST responses. Strand’s modular platform opens a broad horizon of partnership and licensing opportunities. Strand isn’t just another mRNA company: it’s the operating system for the programmable medicines of tomorrow. Follow us on LinkedIn and on X at @strandtx.