Strand Therapeutics lands $153M to push forward “programmable” mRNA cancer drugs

Boston-based Strand Therapeutics raised $153 million in Series B funding to advance its mRNA cancer therapy STX-001, which showed early promise in treating tumors resistant to standard immunotherapies.

Why it matters: If successful, Strand’s technology could unlock a new class of targeted mRNA medicines that turn tumors into protein factories visible to the immune system, offering fresh hope for cancer patients who don’t respond to existing treatments.

Backstory:

• Founded in 2017 by Jake Becraft and Tasuku Kitada, Strand specializes in “programmable” mRNA therapies that control when and where proteins are expressed. Prior to this raise, Strand secured $97M in funding.

• Its lead drug, STX-001, delivers mRNA instructions for IL-12 directly into tumor cells, triggering an immune attack.

• Early trial data showed multiple tumor responses—including one complete response—at the ASCO conference.

Big picture: The funding comes as mRNA faces political scrutiny after its pandemic spotlight, with U.S. officials cutting $500M in vaccine research funding. Strand is betting mRNA’s potential extends far beyond vaccines, into oncology and potentially other diseases.

Zoom in: The Series B is led by European VC firm Kinnevik, with backers including an impressive roster of Big Pharma’s VC arms such as Regeneron Ventures, Amgen Ventures, Eli Lilly, and former J&J CEO Alex Gorsky’s family office.

What’s next: Strand has five additional programs in the pipeline: STX-003 for lung cancer, two for blood cancers, and others in early stages. STX-003 is set for clinical trials in 2026.