Kinnevik leads Strand Therapeutics’ USD 153m Series B funding round with a USD 35m investment

Strand Therapeutics is a clinical-stage biotechnology company pioneering programmable mRNA therapies that unite synthetic biology with programmable biology to transform the treatment of cancer and other serious diseases. Its proprietary platform integrates next generation mRNA modalities, including self replicating and circular RNA, with genetic logic circuits that activate therapeutic activity only in targeted cells and tissues. This enables precise control over when, where, and how a therapy works, producing treatments that are more targeted, safer, longer lasting, and effective at lower doses than conventional mRNA approaches.

The company’s lead programme, STX-001, is a multi-mechanistic, self-replicating mRNA therapy that delivers interleukin-12 (IL-12) directly into the tumour microenvironment. This reprograms the tumour’s surroundings to stimulate a systemic anti-tumour immune response, while avoiding damage to healthy tissue. Early Phase 1 clinical data, presented in June 2025, showed multiple RECIST responses, including complete responses in patients with advanced solid tumours who had exhausted other treatment options, as well as prolonged disease stabilisation and a favourable safety profile.

Strand’s pipeline also includes STX-003, the first systemically administered mRNA therapy with tumour-targeted delivery designed to avoid off-target effects such as liver exposure. Preclinical data presented in 2025 demonstrated its ability to localise IL-12 expression to tumours, offering a new approach to treat cancers more effectively and with improved tolerability.

The USD 153m round led by Kinnevik also includes new investors ICONIQ, Regeneron Pharmaceuticals, Amgen Ventures, and others, with participation from existing investors including FPV Ventures and Playground Global. This Series B financing will support continued clinical progress and expansion of Strand’s programmable RNA platform. 

Kinnevik’s Senior Investment Director Christian Scherrer commented: 

“We believe programmable RNA is the next frontier in therapeutics, and Strand has built the leading platform to unlock it. Their early clinical data is outstanding, and the systemic delivery capability has the potential to reshape how we treat disease, starting with cancer. We look forward to partnering with founders Jake Becraft and Tasuku Kitada and the entire team as they move into this next phase of growth”

Strand was founded in 2017 in Boston, Massachusetts, by two world-class synthetic biologists from MIT, Jake Becraft, Ph.D. (CEO) and Tasuku Kitada, Ph.D. (President & Head of R&D).