Novartis and Versant Ventures Launch Borealis Biosciences to Develop RNA Medicines for Kidney Diseases

Partnership and Funding:
Novartis and Versant Ventures have partnered to launch Borealis Biosciences, a biotechnology company focused on developing RNA medicines for kidney diseases, with $150 million in combined Series A financing and strategic research collaboration funding.

Background and Purpose:
Borealis builds on the success of Chinook Therapeutics, a kidney disease company founded by Versant in 2019 and acquired by Novartis in 2023 for up to $3.5 billion. The new company aims to address unmet needs in kidney diseases using RNA therapeutics.

Technology and Targets:
Borealis will utilize xRNA technology, a core platform for Novartis, to target the body’s natural mRNA and modulate protein production that causes disease. The company focuses on genetically defined targets and delivery of therapeutic payloads to specific kidney cell types.

Research Collaboration:
Novartis has committed up to $100 million in upfront and near-term research funding and has the option to acquire two future development-ready programs from Borealis, with potential total consideration of up to $750 million.

Team and Advisors:
Borealis is led by a strong team and academic advisors who were central to research at Chinook, along with additional leadership in RNA therapeutics. The initial 25-person team has extensive expertise in kidney disease, translational systems biology, and data sciences.

Location and Facilities:
Borealis is based in Vancouver, Canada, at the former research facility of Chinook Therapeutics, which includes state-of-the-art wet labs and vivarium space.