NanoVation Bolsters Board, Captures Capital to Advance Novel Biotech

A B.C. company developing technologies to overcome barriers to nucleic acid delivery has announced a funding round.

Vancouver’s NanoVation Therapeutics raised financing from Convergent Ventures, an early-stage venture capital firm focused on founders working on science-based technologies impacting health.

The new financing will support advancement of NanoVation’s lipid nanoparticle technology platform for RNA delivery to cells outside of the liver, including the completion of large animal studies.

In addition to the fundraising, NanoVation unveiled two additions to its Board of Directors: Zachariah Jonasson, who serves as Chief Financial Officer at Absci and cofounder of Convergent Ventures, and David Main, chief executive of Notch Therapeutics.

“This strategic investment and the addition of two industry veterans to our Board mark important milestones in NanoVation’s growth trajectory,” stated NanoVation cofounder Dominik Witzigmann.

“Zach’s deep understanding of emerging technologies and track record of investing in and building successful biotech companies, combined with David’s extensive executive leadership experience, help position NanoVation for its next growth phase and new strategic partnerships in cell-specific nucleic acid delivery,” the chief executive officer continued.

While only announced this week, these developments in fact precede NanoVation’s September announcement of a US$600 million multi-year partnership with Novo Nordisk to advance the development of novel genetic medicines targeting cardio-metabolic and rare diseases.

“These strategic developments—the recent partnership announcement, new funding and expansion of the board—significantly enhance NanoVation’s position as a leading innovator in nucleic acid delivery,” posits cofounder Pieter Cullis, who sits on the Board as Chairman.

“Welcoming seasoned entrepreneurs like David and Zach strengthens our team, bringing invaluable business acumen that complements our technical expertise,” Cullis added. “Their involvement provides powerful validation of NanoVation’s potential to advance LNP technologies and reach new therapeutic frontiers.”