Monash University spinout RAGE Biotech has raised $29 million in Series A funding, marking a major step toward translating RNA-based therapeutics for chronic inflammatory disease into the clinic.
Originating from the Central Clinical School (now the School of Translational Medicine) within the Faculty of Medicine, Nursing and Health Sciences, RAGE Biotech leverages pioneering expertise in splice-switching oligonucleotide therapeutics and RAGE biology to advance a potential precision therapy for chronic obstructive pulmonary disease (COPD) and related inflammatory lung conditions.
The funding round was led by IP Group Australia and Hostplus, with participation from Monash Ventures. The capital will accelerate RAGE Biotech's lead program, RB042, into first-in-human clinical trials.
Professor Robyn Ward AM, Deputy Vice-Chancellor (Research and Enterprise) and Senior Vice-President at Monash University, said, "Monash has an exceptional track record of research translation and commercialisation: we are the number one university in Australia for industry research investment. RAGE Biotech's achievement demonstrates how collaboration, partnership and a commitment to innovation are central to the quest to turn breakthrough science into outcomes that improve lives."
Dr Ingmar Wahlqvist, Senior Director, New Ventures and Investments, said, "This milestone reflects the strength of Monash's innovation ecosystem and our commitment to supporting exceptional researchers and founders. By backing exceptional founders and science with targeted investment, we're building ventures that advance medicine and deliver tangible impact for patients worldwide."
The company's founding reflects Monash's growing success in partnering with investors such as IP Group Australia and Hostplus through Monash Ventures to advance research-backed innovation.
