City Therapeutics Raises $99.5M Series B for RNAi Therapies
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City Therapeutics has completed a $99.5 million Series B financing to advance its next-generation RNAi therapeutics. The healthcare company, based in Cambridge, Massachusetts, announced the round on June 8, 2026.
The financing drew a deep roster of investors. Viking Global Investors and Sofinnova Investments came in as new backers, along with Casdin Capital and NYBC Ventures. They joined existing investors including ARCH Venture Partners, Fidelity Management & Research Company, Invus, Slate Path Capital, Rock Springs Capital, Regeneron Ventures, AN Ventures and others. With this round, City Therapeutics has now raised more than $230 million since its founding.
The company works in RNA interference, or RNAi, a field that aims to treat disease by silencing the specific genes that drive it. Co-founded by executives and scientists who helped pioneer the area, City Therapeutics is building both a pipeline of therapies and the underlying engineering platform meant to produce them more effectively.
That pipeline is beginning to reach patients. The company is running an ongoing Phase 1 clinical trial of its lead candidate, CITY-FXI, with two additional programs expected to enter the clinic by the end of 2026. Moving multiple programs into human testing in a single year is an ambitious pace, and the new capital is meant to support it.
Proceeds from the round will go toward advancing the RNAi pipeline, accelerating the company’s next-generation RNAi engineering platform, and supporting business development. The mix of pipeline progress and platform investment reflects a strategy common among well-funded biotechs, where the goal is not only to develop individual drugs but to build a system capable of generating many. With nearly $100 million in fresh funding and a clinical program underway, City Therapeutics is positioned to push deeper into a field it helped establish.