--Westlake BioPartners leads $30 million Series A extension, bringing the startup’s total committed capital to $180 million--
--Christian Hordo joins as CEO--
--Addition of three new board members --
VANCOUVER, British Columbia & SEATTLE--(BUSINESS WIRE)--Borealis Biosciences, a next-generation RNA medicines company, today announced the appointment of Christian Hordo as CEO; a $30 million infusion from an extension of the Series A led by Westlake BioPartners; and the addition of three new board directors, David Allison, Ph.D., Tom Frohlich and Catherine Thut, Ph.D.
Borealis was founded on the premise that a convergence of scientific and translational breakthroughs can enable RNA therapeutics to address major unmet needs for patients with kidney diseases. In August, the company emerged from stealth with $150 million in combined Series A financing from founding investor Versant Ventures and Novartis AG, as well as committed strategic research collaboration funding from the pharma.
With the Series A expansion, the company now has $180 million of capital to advance its programs.
“On behalf of the board, I am delighted to welcome Christian as CEO, and to work again with Westlake,” said Jerel Davis Ph.D., managing director at Versant and chairperson of Borealis. “Borealis continues to build momentum in terms of research, new leadership talent, and this recent capital raise.”
“I’m honored to lead this world-class team in developing RNA therapies for kidney disease,” said Christian Hordo, who joined as CEO this month. “Borealis is increasingly well-positioned to deliver on the promise of RNAi to make a meaningful impact on the lives of patients and their families. The strength of the team, clarity in strategy, and robust capital position uniquely position Borealis to emerge as a leader in this space.”
Mr. Hordo previously was EVP and Chief Business Officer at Sana Biotechnology, where he was a founding executive team member, overseeing multiple strategic and operational functions. Prior to that, he was Head of Business Development and Myeloma Program Lead at Juno Therapeutics. Prior to Juno, Mr. Hordo served in various roles of increasing responsibility at Genentech. He holds an M.B.A. from Harvard Business School, a M.Sc. in Medical Genetics and Microbiology from the University of Toronto, and a B.S. in Psychology from McGill University.
“Extending precision medicine to renal disease is an exciting new frontier, and we look forward to working alongside this incredible team and syndicate to develop the next generation of RNA therapeutics for patients,” said David Allison, Ph.D., managing director at Westlake who joined Borealis’ board in connection with the Series A expansion.
Also today, Borealis announced two additional board appointments with Mr. Frohlich and Dr. Thut.
Mr. Frohlich is CEO of Jade Biosciences. He brings over 20 years of experience in company building, business strategy, and product development. Before Jade, he was COO of Chinook Therapeutics, the predecessor company to Borealis that was acquired by Novartis for $3.2 billion in 2023.
Dr. Thut is currently the Therapeutic Area Strategy Head, TAx at Novartis. She possesses nearly 25 years of experience in the pharmaceutical and biotech industries, encompassing a diverse range of roles in research, business development, portfolio strategy, and executive leadership.
About Borealis Biosciences
Borealis is backed by founding investor Versant Ventures, Novartis and Westlake BioPartners, and has entered into a strategic research collaboration with Novartis. Borealis’ research site is based in Vancouver at the 23,000 square foot operating site formerly leased by Chinook Therapeutics. The facility includes state-of-the-art wet labs for molecular and cellular biology, vivarium space, chemistry and analytical capabilities. The initial 25+ team is made up of experienced drug hunters with extensive expertise in kidney disease, translational systems biology and data sciences, translational biology, chemistry, DMPK and pharmacology.
Contacts
Borealis
Steve Edelson
415-801-8088
sedelson@versantventures.com
