In wake of Rubius downfall, a new biotech spinout launches to 'take the next step' in red blood cell therapies
When Alistair Irvine first started raising money for a University of Bristol spinout named Scarlet Therapeutics about two years ago, he got one question a lot: How was Scarlet, which is looking to turn red blood cells into therapies, going to compete with Rubius Therapeutics?
Things are looking different as Scarlet closes its seed round and steps into the limelight. Rubius, the flashy, well-funded leader in the space launched out of Flagship, has shut down in recent months — which Irvine acknowledges is “obviously not nice” for the field. At the same time, it does mean a major competitor is now out of the picture.
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