Chroma Medicine and Nvelop Therapeutics merge to bring together best-in-class epigenetic editing technologies and next generation in vivo delivery technologies to unlock the full potential of genetic medicines

nChroma’s lead program, CRMA-1001, is a liver-targeted epigenetic editing therapy with potential for both best-in-class potency and ability to drive functional cures for chronic hepatitis B and hepatitis D

The combination of highly potent therapeutic cargos and efficient in vivo targeted delivery will enable a robust product engine and pipeline

Consolidated company to be led by CEO Jeff Walsh; Jeff Marrazzo appointed Chairman of the Board

BOSTON and CAMBRIDGE, Mass. – December 11, 2024 – Chroma Medicine and Nvelop Therapeutics today announced their merger and subsequent launch of nChroma Bio (“nChroma” or “the company”) to redefine the future of genetic medicines. nChroma brings together potent epigenetic editing plus non-viral, programmable delivery to address key limitations in the field and expand the scope of treatable diseases. The merger results in an industry-leading company with a deeply experienced team. Jeff Walsh will serve as nChroma’s CEO and Jeff Marrazzo will serve as nChroma’s Chairman of the Board.

Concurrent with the merger, nChroma also completed an oversubscribed $75 million financing to provide the company with additional capital to drive the lead program to meaningful clinical data and to build a robust pipeline of next generation hepatic and extrahepatic targeted therapies. The financing round was led by Cormorant Asset Management, ARCH Venture Partners, Atlas Venture and Newpath Partners, with participation from other top tier investors including 5AM Ventures, DCVC Bio, F-Prime Capital, GV (Google Ventures), Janus Henderson Investors, Mubadala Capital, Omega Funds, Sixth Street, Sofinnova Partners, T. Rowe Price, Wellington Management, Alexandria Venture Investments, Casdin Capital, Menlo Ventures and Wilson Sonsini Goodrich & Rosati.

“This union represents a compelling opportunity to bring together a truly novel and differentiated cargo company and a next generation in vivo delivery company to fully enable the future of in vivo genetic medicine. The new company will allow us to leverage the technologies, talent and capital of both organizations to drive products into the clinic and to forge strategic partnerships to expand our reach into new tissues and diseases,” said Jeff Walsh, Chief Executive Officer. “Importantly, I’d like to acknowledge everyone whose hard work and dedication have been instrumental in bringing us to where we are today, and I am excited about the future of nChroma.”

The $75 million in new financing, in addition to the significant cash on hand for both companies at the time of the merger, provides for multiple years of runway. The funds will allow for the continued development of nChroma’s epigenetic editing platform, which leverages nature’s innate mechanism for gene regulation, and advance lead candidate CRMA-1001 for the treatment of chronic hepatitis B and hepatitis D coinfection into the clinic and to key data readouts. CRMA-1001 demonstrates best-in-class, durable silencing of HBV biomarkers in preclinical models, which is expected to drive high functional cure rates in patients. This approach results in a differentiated product, setting it apart from previous modalities that have failed to achieve meaningful functional cure rates for hepatitis B. In addition, unlike current editing approaches, nChroma’s epigenetic editors have a fundamental mechanistic advantage by modulating gene expression without cutting or nicking the DNA, thereby eliminating the risk of activation of DNA repair pathways and the potential for genomic rearrangement. The funds will also support the progression of multiple pipeline programs and nChroma’s differentiated programmable, non-viral vehicles for safe and efficient tissue-specific in vivo delivery beyond the liver.

Chairman Jeff Marrazzo remarked, “As someone who has had the privilege of serving on the boards of both organizations, this merger represents the culmination of a shared vision to create a new organization with an expanded set of tools and technologies and a leadership team poised to lead the field of genetic medicine and deliver on our collective commitment to patients.”

Chroma Medicine co-founder Luke Gilbert, PhD, Associate Professor, UCSF and Core Investigator, Arc Institute said, “We are just beginning to scratch the surface of epigenetic editing as a therapeutic approach. The continued engineering on both epigenetic editing cargo and extrahepatic delivery happening at nChroma have immense potential to create new medicines.”

nChroma Bio’s leadership includes a highly experienced team of scientists and company builders at the forefront of genetic medicine including:

• Melissa Bonner, PhD, Chief Scientific Officer
• Noah Goodman, Chief Business Officer
• Padma Malyala, Senior Vice President, Technology Development
• Jenny Marlowe, PhD, Chief Development Officer
• Lisa McGrath, Chief People Officer
• Jeff Walsh, Chief Executive Officer

Catherine Stehman-Breen, Chroma Medicine’s CEO, will continue to be involved as an advisor and provide her guidance and expertise to the company.

About CRMA-1001

nChroma’s lead candidate, CRMA-1001, is an epigenetic editor in development as a potential functional cure for chronic hepatitis B and hepatitis D. In preclinical models, CRMA-1001 has achieved deep and durable reduction of key hepatitis B and D viral biomarkers to drive best-in-class functional cure rates. The company plans to submit a clinical trial application in 2025.

About nChroma Bio

nChroma Bio is a pioneering biotechnology company redefining the future of in vivo targeted genetic medicine to treat a wide array of diseases and bring cures to patients. The company’s integrated product engine tackles significant limitations of existing genetic medicine approaches by enabling safe, precise and specific in vivo delivery. nChroma’s near clinical-stage development candidate, CRMA-1001, is a liver-targeted therapy in development as a potential functional cure for chronic hepatitis B and hepatitis D that leverages the power of epigenetics, nature's innate mechanism for gene regulation. Guided by a world-class team at the forefront of genetic medicine, founded by renowned pioneers in the field, and supported by top-tier investors, the company is uniquely positioned to deliver groundbreaking therapies with programmable tissue specificity, unlocking highly potent, durable and targeted gene regulation for the liver and beyond.

Media Contact
Michelle Linn
Linnden Communications
michelle@linndencom.com