Borealis Biosciences

Borealis Biosciences is a Vancouver-based biotechnology firm focused on creating next-generation RNA-based medicines to treat kidney diseases. The company launched in August 2024, emerging from stealth with $150 million in a combined Series A financing and strategic research collaboration funding. The primary investors are founding investor Versant Ventures and the pharmaceutical company Novartis AG.

The company's genesis is directly linked to Chinook Therapeutics, a successful kidney disease company also founded by Versant Ventures in 2019 and later acquired by Novartis in 2023 for up to $3.5 billion. Following the acquisition, Novartis and Versant collaborated to establish Borealis as an independent entity, built around key members of Chinook's Vancouver-based research team. This strategic formation involved Novartis divesting the former 23,000-square-foot Chinook operating site in Vancouver, transferring certain employees, and investing in the new company. The initial team of over 25 individuals consists of experienced drug developers with deep expertise in kidney disease, RNA therapeutics, and translational data science.

Borealis' business model is centered on the discovery and development of RNA therapeutics for kidney diseases that have been difficult to address with traditional small molecules or biologics. The company utilizes advanced approaches in patient stratification, genetically defined targets, and RNA chemistry to deliver therapeutic payloads to specific kidney cell types. Its revenue and growth are supported by a strategic collaboration with Novartis. As part of this agreement, Novartis has committed up to $100 million in upfront and near-term research funding and holds an option to acquire two future development-ready programs from Borealis for a total consideration of up to $750 million, including milestones.

The company's core product focus is on xRNA, a technology platform that can target the body's natural mRNA to modulate the production of proteins that cause disease. Borealis aims to address significant unmet needs for patients with various kidney diseases, including IgA nephropathy, by targeting causal disease drivers that have previously been considered undruggable. The company operates from a state-of-the-art facility in Vancouver, which includes labs for molecular and cellular biology, chemistry, and analytical capabilities, providing a robust foundation for its research and development objectives.

Keywords: RNA therapeutics, kidney disease, renal medicine, xRNA technology, biotechnology, drug discovery, Versant Ventures, Novartis, Chinook Therapeutics, Series A, patient stratification, genetic targets, drug delivery, nephrology, biopharmaceutical, preclinical development, rare diseases, autoimmune kidney disease, IgA nephropathy, molecular biology