By Fineline Cube Belgium-based biotech firm eTheRNA has completed a Series B2 financing round, raising EUR 39 million (USD 38.9 million). The round was led by Moderna co-founder Kenneth Chien and Novalis Life Sciences LLC, with participation from existing investors including LSP (EQT Life Sciences), PMV, China’s Grand Pharma, Fund+, and Omega Fund. The company also announced that CEO Steven Powell will step down, with COO Bernard Sagaert taking over.
Funding and Leadership
The funds will support eTheRNA’s transition to a service provider model, leveraging its mRNA engineering, production, and lipid nanoparticle (LNP) capabilities. This shift aims to generate revenue through contract research, mRNA manufacturing, and tech licensing. The company previously provided mRNA-related services, including a February partnership with Germany’s Merck KGaA.
Strategic Outlook
Under Bernard Sagaert’s leadership, eTheRNA plans to expand collaborations with pharma partners, enhancing its mRNA platform to drive new business opportunities. The Series B2 round positions the firm to capitalize on growing demand for mRNA technologies.-Fineline Info & Tech