Touchstone portfolio company, STORM Therapeutics, which is focused on developing small molecule therapies modulating RNA modifying enzymes, has today announced that it has extended its Series A funding round with an additional £4 million of funding from Taiho Ventures, LLC, the strategic corporate venture capital arm of Taiho Pharmaceutical Co., Ltd. This is an addition to the £12 million Series A Financing announced in June 2016.
This is Taiho Ventures' first investment in Europe as it joins STORM Theapeutics’ existing blue chip investor syndicate of Merck Ventures, Cambridge Innovation Capital, Pfizer Venture Investments and Touchstone. Sakae Asanuma, President of Taiho Ventures, joins STORM Therapeutics’Board of Directors. The financing will enable STORM Therapeutics to expand and accelerate its pipeline, pursue emerging therapeutic opportunities, and build a broader drug discovery platform encompassing new drug targets from additional academic collaborators and its scientific founders.
Commenting on the fundraising, Keith Blundy, CEO of STORM Therapeutics, said:
“We are pleased to welcome Taiho Ventures to our existing investor syndicate. This extended investment represents further validation and support of our strategy to harness the power of RNA epigenetics as a new area of important biology. As the first company tackling disease through modulating RNA modifying enzymes, we believe we are well positioned to build a world leading company.”