CorriXR Therapeutics secures $1M state investment to advance cancer gene-editing treatment

ORIGINAL SOURCE: Delaware Business Times

NEWARK — Delaware-based CorriXR Therapeutics secured a $1 million investment from Delaware as it prepares to launch the first-in-human clinical trials of its cancer-focused gene-editing therapy.

The funding, announced Monday, represents a significant milestone for the startup which spun out of ChristianaCare in 2022 as the health system’s first-ever commercial venture. Founded by longtime gene-editing researcher Dr. Eric Kmiec, CorriXR is developing CRISPR-based treatments designed to reduce the toxicity of chemotherapy by disabling specific genes that worsen patient side effects.

“Patients typically get sick during treatments, like chemotherapy,” Kmiec told the Delaware Business Times. “With CRISPR, if we can disable that gene, we can reduce the amount of chemo a patient has to take. In our cell-based and animal models for lung and neck cancer, it appears we’ve been successful.”

Governor Matt Meyer and Delaware Division of Small Business Director CJ Bell joined CorriXR leaders Monday to tour the company’s facilities on the University of Delaware’s STAR Campus. Kmiec praised state officials for a rigorous vetting process that included out-of-state reviewers to eliminate bias.

“The due diligence was quite good and thorough, not an easy task, and it shouldn’t be,” he told DBT. “The state’s investment brings us one step closer to the clinic.”

The funding, part of Delaware’s strategic innovation support, will go directly into product development rather than overhead, Kmiec noted — a decision that reflects both the urgency and the cost of advancing novel therapies through FDA approvals.

Kmiec has worked in gene editing for four decades, much of it at ChristianaCare’s Helen F. Graham Cancer Center. CorriXR has already attracted multimillion-dollar backing, including pre-seed and Series A funding rounds totaling several million dollars, alongside federal grants and internal lab foundation support.

ChristianaCare remains a shareholder, and Kmiec credits CEO Dr. Janice Nevin with giving the venture “enormous support” at its launch.

The state’s $1 million contribution is not CorriXR’s largest investment to date, but Kmiec emphasized its importance as a signal to outside investors and strategic partners.

While CorriXR is still a young company, Kmiec believes the path to profitability in gene editing is far shorter than in other biotech areas, especially given the urgent demand for new oncology treatments.

“Our goal is to reduce patient suffering. The faster we can get it to patients, the better,” Kmiec said, adding that profitability is also important for the for-profit company. “That could come from building the company further, partnering with a major pharma like Merck or AstraZeneca, or eventually being acquired. The return on investment in this space can be decades faster, but you have to be really good.”

He said strategic partnerships remain a likely avenue in the near future, bringing not only capital but also employment opportunities and industry guidance. But, for Kmiec, CorriXR’s progress is not just a scientific or business story but also a Delaware story with economic and life-saving undertones.

“One of the things I’m most proud of at CorriXR is our space at the STAR Campus, alongside the Gene Editing Institute,” he said. “We’re very pleased and proud to be part of the Delaware ecosystem. We all have to be rooting for the success of CorriXR here in Delaware. This is not just fun with science — it has to be a business.”

With clinical trials on the horizon, Kmiec sees this moment as an “inflection point” in the company’s careful, methodical journey.

“We’ve had trustworthy supporters along the way,” he said. “Now, with Delaware’s investment, we’re one step closer to making a real difference for cancer patients.”