Aerska, an Irish-based biotech company, pioneering groundbreaking therapies for diseases of the brain, has announced it has raised $21m in seed funding. Founded by Jack O’Meara, an Irish serial biotech entrepreneur, alongside David Hardwicke and leading RNA scientist Stu Milstein, they are joined by a team of seasoned drug developers based out of Dublin with research operations in London. Aerska’s mission is to treat, delay, and ultimately prevent neurological diseases.
The round was co-led by Age1 and Backed VC, with participation from Ada, Blueyard, Kerna, Lingotto, Norrsken, PsyMed, Saras, and Speedinvest. The investment will support Aerska as it advances its pipeline of medicines and builds out its Irish and UK operations.
Aerska is developing medicines that use RNA interference (RNAi), a breakthrough approach that can silence harmful genes linked to brain diseases. Delivering these genetic medicines to the brain has long been a challenge because the blood-brain barrier blocks most treatments from getting through. While RNAi medicines have already revolutionised care for certain liver diseases, Aerska is applying this breakthrough technology to the field of neurology.
Through external partnerships and internal innovation, Aerska’s antibody-oligo conjugate (AOC) platform uses “brain shuttles” to enable systemic RNAi delivery, neuronal uptake, and durable gene knockdown in the brain. Leveraging advances in data science, Aerska plans to integrate genetic, biomarker, and patient data to bring precision medicine to neurology, starting with programs in genetic forms of Alzheimer’s disease and Parkinson’s disease.
“Ireland has the talent, the research strengths and the ambition to become a world leader in biotechnology”, said Minister for Enterprise, Tourism and Employment, Peter Burke. “Aerska’s growth is a perfect example of how Irish scientists and entrepreneurs are building solutions to some of the greatest health challenges of our time. Supporting this kind of homegrown innovation not only creates opportunities here, but also ensures Ireland is at the forefront of developing life-changing technologies and medicines.”
Recognising the evolving economic landscape, the company is placing a strong emphasis on supporting indigenous biotech R&D – harnessing Ireland’s pharmaceutical and research strengths to nurture and scale homegrown scientific breakthroughs. As it emerges from stealth, the company will host an event in Dublin this October to convene industry leaders, engage with the biotechnology community, and spark collaboration.
“The mission in setting up this new company is twofold,” added Jack O’Meara, Co-founder and CEO of Aerska. “First and foremost, to alleviate the suffering of patients and families living with neurological diseases like Alzheimer’s and Parkinson’s, which are close to home for me personally. But secondly, to help to catalyse a new economic model for Ireland focused on indigenous entrepreneurship rather than foreign direct investment, given the changing geopolitical winds.”
Aerska takes its name from the phonetic beginning of Irish proverb “Ar scáth a chéile a mhaireann na daoine”, which speaks to the idea of interdependence, underscoring the different skillsets and collaborative spirit required to advance healthcare innovation and get new medicines to patients.
“I leapt at the chance to co-lead Aerska’s seed round because Jack O’Meara is a generational founder building a generational team,” said Alex Colville, Co-founder of Age1, a Californian VC firm focused on prevention of age-related diseases. “Aerska’s culture and science are poised to deliver desperately needed impact for neuro patients and to accelerate the shift toward true preventative medicine.”
Jack and Dave met at the University of Notre Dame and went on to work in US biotech at AveXis. Jack went on to found Ochre Bio in the UK, an RNA medicines company focused on liver disease. He raised over $100M here between VC investment and pharma partnerships, including a deal worth up to $1B. Dave stayed working in the US at AveXis (now Novartis Gene Therapies) and went on to join Pathway Bioventures and Irish biotech ONK Therapeutics.
“Ireland has all the key ingredients for R&D-focused companies to start and grow here,” said David Hardwicke, Co-founder and Director, Head of Corporate Development of Aerska. “We’re excited to build a base here and begin collaborating with Ireland’s world-class research ecosystem to advance new discoveries. In doing so, we hope to help showcase the potential for more homegrown innovation and demonstrate that Ireland can compete on the global stage.”
The founding team in Ireland includes David Coughlan, VP, Head of Early Development, and Andrew Cregan, who serves as Director, Head of Finance at Aerska, both of whom have a history in the Irish biotech sector across Afimmune, ONK Therapeutics, and Elan Pharmaceuticals. The company is expanding its Irish team and intends to deepen relationships with the Irish research community.
See more stories here.