Borealis Bio emerges from stealth with Versant and Novartis funding

Next-gen RNA-focused biotech Borealis Biosciences has emerged from stealth with $150 million in combined Series A financing from founding investor Versant Ventures and Swiss pharma giant Novartis (NOVN: VX), as well as committed strategic research collaboration funding from Novartis.

Borealis builds on the success of Chinook Therapeutics, a kidney disease company that was founded by Versant in 2019 and acquired by Novartis last year for up to $3.5 billion. The team is led by a strong group and academic advisors who were central to research at Chinook, together with additional leadership in the field of RNA therapeutics.

“We’ve recognized over the last six years that some of the most validated targets for kidney disease have been out of reach with traditional modalities. Borealis has the potential to address these targets and reach patients most in need,” said Jerel Davis, managing director at Versant and chairperson of Borealis’ board of directors.