Merck circles back to RNA with big early-stage bet

Researchers are already working on improving the mRNA technology behind the hugely successful Covid vaccines, and circular RNA is a leading idea. That approach received a big endorsement from Merck & Co today in the form of an infectious disease and oncology discovery deal with Orna Therapeutics. The biotech will receive $150m up front, a hefty fee considering that its work is very much preclinical; its most advanced project is described as an in-situ anti-CD19 Car that it aims to get into the clinic by 2024, and does not seem to be covered by the Merck deal. The pharma giant is also contributing $100m towards a $221m series B that Orna announced today. Gilead, Bristol Myers Squibb, Astellas and Novartis all participated in Orna’s series A, so this is clearly a space that big developers have their eyes on. Few small start-ups are focused on the approach, although the bigger mRNA players are presumably already active. The idea behind circular RNA is to produce more stable, and therefore durable, therapeutics; linear mRNA is susceptible to degradation from its loose ends. More efficient delivery into cells, improved protein expression and cheaper manufacturing is being claimed.