News

exteRNA, a pioneering biotech firm focused on innovating small molecules for RNA processing, today announced the successful completion of an $11 million (AUD) seed funding round. This financing will accelerate the company’s mission to develop transformative therapies targeting a unique aspect of RNA processing as a new way to target difficult to treat cancers and other diseases.

The funding round was led by IP Group Australia, with participation from Tin Alley Ventures, WEHI Ventures and HostPlus. This investment will enable exteRNA to advance its unique platform and lead program, which will harness the potential of small molecules to selectively target and modulate RNA processing pathways that are important to disease. 

The company leverages the world leading expertise of Professor Vihandha Wickramasinghe, Head of the RNA Biology and Cancer Lab at Peter MacCallum Cancer Centre, and Professor Guillaume Lessene at WEHI, and their respective teams. 

“We are thrilled to have the support of experienced local and international investors who share our vision of harnessing the vulnerability of cancers to modulation of RNA processing,” said Professor Vihandha Wickramasinghe, CSO and co-founder of exteRNA. 

“This funding will allow us to rapidly expand our research efforts and bring innovative solutions to patients suffering from diseases currently lacking effective treatments.”

RNA processing is a critical biological process that impacts gene expression and ultimately protein production, which is altered in various conditions, including several cancers of high unmet need, and neurodegenerative disorders. By targeting pathways that modulate RNA with small molecules, exteRNA aims to target critical disease drivers, to provide new therapeutic options that can significantly alter disease trajectories.

“Small molecules have shown immense potential in treating a variety of conditions including cancer, yet targeting RNA processing remains largely untapped,” said Professor Guillaume Lessene, Co-founder of exteRNA. 

“We are excited to leverage our unique approach to create breakthrough therapies that can make a real difference in patients’ lives.

Dr. Siro Perez, Partner at IP Group Australia and Director at exteRNA, said IP Group was delighted to be working with the exteRNA team and an excellent syndicate of co-investors to support this disruptive company, made possible by the bringing together of world-leading expertise in RNA processing and medicinal chemistry.

“We are looking forward to sharing exteRNA’s progress as we advance towards the clinic.” 

Dr. Sharon Shacham, Non-executive Chair of exteRNA and Co-founder of Karyopharm Therapeutics said: “exteRNA is poised to make a significant impact in the lives of patients, and I’m excited to be involved in exteRNA’s journey, as we push towards the clinic. 

“We are eager to further explore the potential of a unique aspect of RNA processing for the development of new therapies for patients with advanced cancers." 

About exteRNA

Founded in 2024, exteRNA is dedicated to developing novel small molecule therapeutics that target RNA processing pathways. With a team of experienced scientists and industry experts, the company is committed to advancing the next generation of small molecule therapies for unmet medical needs. For more information, visit externabio.com 

About IP Group Australia

IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech. The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc. In Australia and New Zealand, IP Group works in close partnership with the Go8 Universities and the University of Auckland to identify ground-breaking technologies rooted in hard science, which have the most promising commercial potential. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. For more information, please visit our website at www.ipgroupanz.com

About WEHI Ventures

WEHI Ventures was established in 2023 to manage 66ten, the first internal pre-seed and seed fund created by Australian medical research institute, WEHI. 66ten is investing A$66M over 10 years to build on WEHI’s track record of commercial success. WEHI Ventures brings the brightest of seed stage R&D programs developed at or in collaboration with WEHI forward to co-investment partners globally. WEHI Ventures is overseen by an investment committee of experienced biotech entrepreneurs, Venture Capital investment managers and industry R&D leaders, and supports its ventures through an agile team of experienced early-stage drug discovery and development experts. Find out more: www.wehi.edu.au/wehi-ventures 

About Tin Alley Ventures

Tin Alley Ventures (TAV) is a joint venture capital fund initiative between the University of Melbourne and Tanarra Capital, established to invest in and commercialise high-potential intellectual property and innovation emerging from the University of Melbourne’s academics, students, affiliated organisations and alumni communities. TAV’s $125 million Fund 1 provides investment from seed stage through to pre-Initial public offering (IPO). Beyond investment, TAV supports start-ups through its dedicated team of Founders-in-Residence – a group of entrepreneurial and commercially-minded individuals who serve as trusted thought partners, coaches, and potential co-founders for prospective entrepreneurs.

About Peter MacCallum Cancer Centre

Peter MacCallum Cancer Centre (Peter Mac) is a world leading cancer research, education and treatment centre and Australia’s only public health service dedicated to caring for people affected by cancer. Based in Melbourne, Victoria, Peter Mac has 4200 employees, including 700 laboratory and clinical researchers, all focused on providing better treatments, better care and potential cures for cancer.

About WEHI (Walter and Eliza Hall Institute of Medical Research)  

WEHI is where the world’s brightest minds collaborate and innovate to make life-changing scientific discoveries that help people live healthier for longer. Our medical researchers have been serving the community for more than 100 years, making transformative discoveries in cancers, infectious and immune diseases, developmental disorders, and healthy ageing. WEHI brings together diverse and creative people with different experience and expertise to solve some of the world’s most complex health problems. With partners across science, health, government, industry, and philanthropy, we are committed to long-term discovery, collaboration, and translation. At WEHI, we are brighter together.   Find out more at www.wehi.edu.au 

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For more information or interviews with exteRNA founder Professor Vi Wickramasinghe or IP Group ANZ CEO Mike Molinari, please contact:

Craig Regan

Primary Communication

+61 408 448 527 or [email protected]