Strand Therapeutics Raises $153M Series B to Advance mRNA Cancer Therapies

Strand Therapeutics, a Boston-based biotech founded on MIT research, has raised $153 million in Series B funding led by Kinnevik, bringing its total funding to over $250 million. The company develops programmable mRNA therapies that activate the cytokine interleukin-12 (IL-12) directly in the tumor microenvironment to stimulate immune responses against solid tumors. Its lead candidate, STX-001, demonstrated promising Phase 1 clinical results, including complete and partial tumor responses in patients with treatment-resistant cancers. Unlike traditional mRNA therapies, Strand’s approach uses self-replicating mRNA to ensure localized and durable therapeutic effects, with additional candidates like STX-003 showing potential for systemic tumor targeting while avoiding off-target effects. The new funds will support advancing the pipeline and expanding R&D efforts, with new investors from major pharmaceutical venture arms such as Regeneron Ventures and Amgen Ventures joining the round. Strand’s CEO Jake Becraft highlighted the platform’s capability to elicit systemic immune activation and anti-tumor responses, marking a significant milestone in programmable mRNA therapeutics for cancer treatment.