City Therapeutics
City Therapeutics is a Cambridge, MA-based clinical-stage biopharmaceutical company developing next-generation RNA interference (RNAi) therapeutics using proprietary cityRNA trigger molecules and extra-hepatic delivery technology to address diseases including thromboembolic disorders, Stargardt disease, and geographic atrophy, serving patients with significant unmet medical need.
- Company typePrivate
- Founded2024
- HeadquartersCambridge, United States
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What City Therapeutics does
City Therapeutics, Inc. is a Cambridge, Massachusetts-based clinical-stage biopharmaceutical company founded in October 2024 by former Alnylam Pharmaceuticals RNAi pioneers, including John Maraganore, Ph.D. (founding CEO of Alnylam, now Executive Chair) and several co-founders with deep Alnylam lineage. The company is developing next-generation RNA interference (RNAi) therapeutics built on a proprietary engineering platform centered on cityRNA (Cleavage-Inducing Tiny RNAs) trigger molecules paired with novel targeting ligands that enable extra-hepatic delivery of siRNAs to tissues beyond the liver, including ocular, CNS, and other tissue types. This extra-hepatic capability is positioned as a key differentiator from current FDA-approved RNAi medicines, which are largely restricted to liver targets.
The company's lead clinical asset is CITY-FXI, a Factor XI-targeting RNAi therapeutic in Phase 1 development in the United Kingdom for thromboembolic diseases, designed to provide anticoagulation with reduced bleeding risk. Its second disclosed program is CITY-RBP4, a preclinical RNAi therapy targeting RBP4 for Stargardt disease and geographic atrophy, with a planned regulatory submission in mid-2026. The pipeline also includes undisclosed hepatic, ocular, and CNS programs, with the company targeting 1-2 INDs per year starting in 2026.
City Therapeutics is pre-revenue and has not yet commercialized any product. Its business model combines future drug commercialization with licensing and partnership economics: it has entered strategic collaborations with Biogen (up to approximately $1 billion in potential milestones plus tiered royalties for CNS) and Bausch + Lomb (up to $485 million in milestones plus royalties for geographic atrophy), each including convertible note investments representing minority equity. To date the company has raised over $230 million across a $135 million Series A (October 2024, led by ARCH Venture Partners) and a $99.5 million Series B (June 2026, led by Viking Global Investors and Sofinnova Investments), with stated runway through 2027.
City Therapeutics firmographics
Firmographics- Name
- City Therapeutics
- Legal name
- CITY THERAPEUTICS, INC.
- Website
- https://citytx.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- City Therapeutics is a Cambridge, MA-based clinical-stage biopharmaceutical company developing next-generation RNA interference (RNAi) therapeutics using proprietary cityRNA trigger molecules and extra-hepatic delivery technology to address diseases including thromboembolic disorders, Stargardt disease, and geographic atrophy, serving patients with significant unmet medical need.
- Ownership category
- akta.pro rank
City Therapeutics industry classification
Industry- Product category
- RNAi Therapeutics
- NAICS
- Research and Development in Biotechnology (except Nanobiotechnology) (541714)
- SIC
- Pharmaceutical Preparations (2834)
- akta.pro primary industry
- siRNA Therapeutics (gene silencing) (HLAAADAB)
- akta.pro secondary industries
- RNA Chemistry & Oligonucleotide Engineering (backbones, modifications, stereochemistry) (HLAAADAE), RNA Delivery Technologies (LNPs, polymers, conjugates incl. GalNAc, peptides, exosomes) (HLAAADAD), RNA Therapeutics Platforms & Design (sequence design, target ID/validation, AI/bioinformatics) (HLAAADAG), RNA Therapeutics Clinical Development (trial design, endpoints, patient stratification) (HLAAADAH)
Keywords
Where City Therapeutics is headquartered
LocationHeadquarters
- HQ city
- Cambridge
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
City Therapeutics business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Drug Commercialization: Pre-revenue clinical-stage biotech developing RNAi therapeutics for rare diseases and specialty conditions. Revenue will come from product sales upon regulatory approval.
- Partnership Milestone Payments: Upfront payments and development milestones from strategic partnerships including up to approximately $1 billion from Biogen and up to $485 million from Bausch + Lomb, plus tiered royalties on net sales
- Equity Investments from Partners: Strategic investments from pharmaceutical partners including $30 million convertible note from Biogen and convertible note from Bausch + Lomb representing minority equity interest
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
City Therapeutics product offering
Product offeringCore offering
City Therapeutics develops next-generation RNA interference (RNAi)-based therapeutics using its proprietary cityRNA engineering platform. The company is advancing a pipeline of investigational medicines targeting Factor XI for thromboembolic diseases and RBP4 for Stargardt disease and geographic atrophy, leveraging novel siRNA trigger molecules and extra-hepatic delivery technologies.
Product overview
City Therapeutics is developing a pipeline of next-generation RNAi-based medicines using its proprietary cityRNA technology platform. The company's core products include CITY-FXI (Phase 1 clinical trial for thromboembolic diseases targeting Factor XI) and CITY-RBP4 (preclinical/IND-enabling stage for Stargardt disease and geographic atrophy). The platform enables extra-hepatic delivery of RNAi therapeutics to reach tissues beyond the liver, expanding the therapeutic reach of RNA interference medicines across multiple disease areas including coagulation, ophthalmology, and CNS disorders.
Differentiator
Problem solved
Functional benefit
Products and services
- CITY-FXI A next-generation RNAi therapeutic candidate targeting Factor XI (FXI) for the prevention of thromboembolic diseases, designed to provide safe anticoagulation with reduced bleeding risk compared to standard-of-care therapies and supporting a simple dosing schedule.
- CITY-RBP4 An investigational RNAi therapy targeting RBP4 for the treatment of Stargardt disease and geographic atrophy, which silences hepatic expression of the vitamin A carrier protein to reduce toxic retinoid accumulation in the retina.
- cityRNA Technology Platform A next-generation RNAi engineering platform that enables the design of novel trigger molecules (cityRNAs) with improved potency, specificity, and cellular uptake, paired with precision targeting ligands for extra-hepatic delivery beyond the liver.
Quantifiable outcome
- CITY-RBP4 suppressed RBP4 and reduced circulating retinol by approximately 90% at 3 mg/kg dose in non-human primates with duration consistent with quarterly or biannual dosing
- +2 more outcomes
Companies that use City Therapeutics
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles3 records
City Therapeutics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
City Therapeutics partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- BiogencoreStrategic collaboration to develop select novel RNAi therapies for CNS diseases. City Therapeutics leveraging next-generation RNAi engineering technologies combined with Biogen's proprietary drug delivery technology. City receives $16M upfront + $30M convertible note investment, eligible for up to ~$1B in milestones plus tiered royalties. Biogen handles IND-enabling studies and global clinical development.
- Bausch + LombcoreStrategic collaboration focused on development of novel RNAi therapy for geographic atrophy (advanced form of age-related macular degeneration). City leverages next-generation RNAi engineering for intravitreal administration. City eligible for up to $485M in milestones plus royalties. Bausch + Lomb responsible for IND-enabling through commercialization.
Scale indicators8 records
Recent moves6 records
Expansion highlights7 records
City Therapeutics competitors and assessment
Company assessmentDirect peers
- Arrowhead Pharmaceuticals: Arrowhead develops RNAi-based therapeutics using its TRiM platform with strong focus on extra-hepatic delivery (lung, muscle, CNS, oncology) — directly overlapping with City's cityRNA/extra-hepatic strategy. Comparable clinical-stage pipeline dynamics and partnering model (e.g., Sarepta, Takeda, Amgen deals).
- Sirnaomics: Sirnaomics develops RNAi-based therapeutics using its PNP (Polypeptide Nano-Particle) delivery platform targeting hepatic and extra-hepatic tissues (e.g., oncology, fibrosis, ocular). Comparable modality, stage, and focus on delivery beyond the liver.
- Dicerna Pharmaceuticals: Dicerna developed GalNAc-conjugated RNAi therapeutics (acquired by Novo Nordisk in 2021). Closely comparable modality (siRNA targeting liver) and an active RNAi business unit under Novo Nordisk targeting similar rare-disease and cardiometabolic indications as City.
- ProQR Therapeutics: ProQR develops RNA-based therapeutics (antisense and siRNA) with a strong focus on inherited ophthalmology and rare diseases (e.g., Stargardt disease programs). Directly comparable to City's CITY-RBP4 indication strategy and RNA-targeting modality.
- Alnylam Pharmaceuticals: Alnylam is the founder/incumbent leader in RNAi therapeutics, with five FDA-approved siRNA drugs (ONPATTRO, GIVLAARI, OXLUMO, LEQVIO, AMVUTTRA). Most City founders came from Alnylam and compete directly in the same RNAi modality targeting shared indications (e.g., Factor XI for anticoagulation, hepatic delivery).
Emerging players
- Wave Life Sciences: Wave develops stereopure oligonucleotide therapeutics (RNAi-like siRNA and other modalities) with a platform analogous to city's cityRNA engineering, focused on CNS, hepatic and extra-hepatic targets. Comparable in clinical stage, modality and pipeline scope.
- Editas Medicine: Editas develops gene-editing and CRISPR-based therapies, with City CMO Baisong Mei previously serving as EVP/CMO. Comparable as a clinical-stage genetic medicines company with platform play ambitions, though Editas's modality is editing rather than RNAi.
- Korro Bio: Korro Bio is a clinical-stage genetic medicines company focused on RNA editing (ADAR-based) targeting hepatic and extra-hepatic tissues. Comparable in modality (RNA-targeting), stage, and emphasis on expanding reach beyond liver through novel delivery chemistries.
- Orbital Therapeutics: Orbital Therapeutics is an RNA-focused biotech developing novel RNA medicines for immune-related diseases, led by City board member Ron Philip. Comparable in platform ambition to expand the reach of RNA-based therapies and stage/team composition.
- Generation Bio: Generation Bio develops non-viral genetic medicines (including siRNA/RNAi-like modalities via its ceDNA platform). Tracy Zimmermann (City's CSO) was previously Generation Bio's Chief Development Officer, indicating direct lineage and comparable platform ambition.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
City Therapeutics social profiles
Digital presenceCity Therapeutics financial estimates
Financial estimateRevenue estimate
Valuation estimate
City Therapeutics leadership team
Management profileNumber of profiles
Profiles17 records
City Therapeutics funding detail
Funding detailFunding overview
Funding rounds2 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
City Therapeutics M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about City Therapeutics
What does City Therapeutics do?
City Therapeutics develops next-generation RNA interference (RNAi)-based therapeutics using its proprietary cityRNA engineering platform. The company is advancing a pipeline of investigational medicines targeting Factor XI for thromboembolic diseases and RBP4 for Stargardt disease and geographic atrophy, leveraging novel siRNA trigger molecules and extra-hepatic delivery technologies.
Is City Therapeutics a public or private company?
City Therapeutics is a private company. It is classified as venture growth investor backed and is currently operating.
When was City Therapeutics founded?
City Therapeutics was founded in 2024. It employs 101 to 250 people.
Where is City Therapeutics based?
City Therapeutics is headquartered in Cambridge, United States, in the North America region.
How does City Therapeutics make money?
Three revenue lines are on record. Drug Commercialization is the primary driver. The others are partnership Milestone Payments and equity Investments from Partners.
Who are City Therapeutics's main competitors?
Direct peers on record are Arrowhead Pharmaceuticals, Sirnaomics, Dicerna Pharmaceuticals, ProQR Therapeutics and Alnylam Pharmaceuticals. Emerging players are Wave Life Sciences, Editas Medicine, Korro Bio, Orbital Therapeutics and Generation Bio.
Does City Therapeutics have an API?
No public API is recorded for City Therapeutics.
What industry is City Therapeutics in?
City Therapeutics's product category is RNAi Therapeutics. Its primary akta.pro industry code is HLAAADAB, siRNA Therapeutics (gene silencing), with a secondary code of HLAAADAE, RNA Chemistry & Oligonucleotide Engineering (backbones, modifications, stereochemistry). Its NAICS code is 541714 and its SIC code is 2834.