FRESH TUNE: A Durham biotech veteran gets another chance, with $120 million from some notable backers.

• Author: MacMillan, Mike

There's a lot of promise in gene-based disease treatment therapies, and a lot of hype. Language around the industry is rife with superlatives--"transformative," "pioneering," "paradigm changing," and so on.

There's no one way to know what's real because many therapies show promise in early trials, then fail to pan out. But following the money is probably as good a way as any. To that end, Tune Therapeutics is heading in the right direction.

Based in Durham and Seattle, Tune was launched in December 2021 to develop so-called "epigenomic tools" to address a broad range of diseases. Earlier this year, it raised $120 million in its second funding round, up from $40 million in its Series A, according to Pitchbook, which tracks venture investing.

The lead investor is NE A, a major venture capital firm with offices in Menlo Park, California, New York City, and other places. It was joined by the Emerson Collective, established by Lauren Powell Jobs, the widow of the late Apple founder Steve Jobs, and Durham-based Hatteras Venture Partners. Pappas Capital, also from Durham, is an investor too, its first foray into epigenomics.

Several companies in the industry have attracted major dollars over the past two years. Chroma, based in Cambridge, Massachusetts, launched in November 2021, has raised $260 million, according to the Crunchbase website.

GRIZZLED CEO

The epigenome refers to chemical compounds in the body that modify genes--telling them what to do and when and where to do it. The term is derived from the Greek word "epi," meaning "above." The epigenome sits above the genome and "tunes" how genes are expressed. Unlike gene editing, epigenomics holds the promise of modifying gene behavior without inadvertently damaging DNA sequences, and it can be turned on and off. In something of a reprise of the Lamarck vs. Darwin schism over evolution, epigenomic marks can be passed from cell to cell and from one generation to the next, while changes rendered through gene editing generally cannot.

There is considerable excitement around this new technology, based on the potential to "reverse pathways of cancer, genetic disease, and aging by changing cell fate and function," as Tune puts it.

CEO Matt Kane, who joined the company at launch, is a familiar face in Durham biotechnology circles and experienced with start-ups. He co-founded Precision BioSciences and served as CEO. The gene-editing start-up went public in March 2019 at $16 per share, raising $145...