Rage Bio, a Melbourne-based developer of splice-switching oligonucleotide therapeutics, has raised $18.9 million in Series A financing. The company said the new capital will accelerate its lead program, RB042, toward first-in-human clinical trials. The round underscores growing investor confidence in disease-modifying approaches for chronic inflammatory conditions where current options remain limited.
Funding and Strategy
The Series A was led by IP Group Australia and Hostplus, with continued participation from existing backers including Monash Ventures. Rage Bio plans to deploy the funds to advance RB042, an inhaled therapy for chronic obstructive pulmonary disease and other inflammatory lung diseases. Management also intends to progress a broader pipeline that targets RAGE biology across multiple indications.
Leadership Appointments
Rage Bio appointed Dr. Siro Perez as Chief Executive Officer and Dr. Edwin Tucker as Chief Medical and Development Officer. Dr. Perez, who helped set up the company while at IP Group Australia, will steer strategy and financing while driving clinical readiness. He succeeds founding CEO Dr. Chris Wraight, who transitions to Chief Scientific Officer to focus on platform expansion and scientific direction.
CEO Profile and Vision
With two decades in life sciences, Dr. Perez previously led the Life Sciences team at IP Group Australia and co-founded multiple biotech ventures. His background spans Novartis, The Boston Consulting Group, Hadean Ventures, and SAC Capital, alongside a PhD in Molecular Biology and a Master’s in Finance from London Business School. He said RB042 shows preclinical promise and could shift COPD treatment from symptom control to disease modification if successful.
CMO Profile and Clinical Path
Dr. Tucker brings more than 30 years of biopharma clinical development experience, most recently as CMO at Nasdaq-listed Jasper Therapeutics. He has led trials in inflammatory diseases, including asthma, and advanced antibody programs into the clinic. A member of the Royal College of Physicians, he holds degrees in Pharmacology and Medicine from the University of Leeds and an MBA from the University of Connecticut.
Scientific Foundations and Partnerships
Rage Bio was created through a company-building effort between IP Group Australia and leading Australian universities and institutes. Its science centers on modulating the Receptor for Advanced Glycation End-products, a genetically validated driver of inflammation implicated in chronic lung and other disorders. Scientific founder Professor Merlin Thomas said the team has developed a novel way to block RAGE by leveraging a natural lung-produced inhibitor, opening the door to transformative therapies.
Lead Program and Pipeline
RB042 is an inhaled splice-switching oligonucleotide designed as a precision medicine for COPD and related inflammatory lung diseases. Additional indications under evaluation include alpha-1 antitrypsin deficiency, neutrophilic asthma, and idiopathic pulmonary fibrosis. Beyond respiratory care, the company is exploring programs in kidney, liver, and central nervous system diseases, reflecting the platform’s versatility.
Governance and Ecosystem Support
IP Group Australia Managing Director Dr. Mike Molinari has joined Rage Bio’s Board of Directors. He said the company’s momentum reflects strong science and disciplined execution, as RB042 heads toward the clinic. Leaders at Monash University, including Professor Robyn Ward AM and Dr. Ingmar Wahlqvist, highlighted the role of collaboration, targeted investment, and Australia’s innovation ecosystem in translating research into patient impact.
Outlook and Next Steps
Rage Bio plans to convert preclinical data into clinical evidence as it advances RB042 through regulatory interactions and early studies. The leadership team aims to expand the pipeline in parallel, aligning indication selection with RAGE biology and unmet need. Execution will depend on manufacturing readiness, biomarker strategy, and thoughtful trial design to demonstrate disease-modifying potential.
The $18.9 million raise and senior hires signal a decisive shift from platform building to clinical translation for Rage Bio. With RB042 nearing first-in-human testing, the company is positioned to test whether precision splice-switching can change the trajectory of chronic inflammatory lung disease. If the approach bears out, the platform could extend to multiple organs and redefine treatment options for patients with few effective choices today.