Circio has raised approximately NOK 200M (€18.6M) to advance its preclinical in vivo CAR-T programme and select vector and delivery technologies for its circular RNA platform.

Funding targets in vivo CAR-T development

Norwegian biotechnology company Circio has completed a private placement raising approximately NOK 200M (€18.6M), with the majority of the proceeds intended to support development of its in vivo CAR-T cell therapy programme.

The financing was directed at new international investors alongside existing investors, with 16.865 million new shares issued at NOK 11.80 per share.

Circio said the funding will allow it to continue screening and selecting complementary DNA vector and T-cell-targeted lipid nanoparticle (LNP) delivery technologies. More than 10 research collaborations are currently being assessed as part of the programme.

The company plans to secure access to selected technologies through future licensing, technology acquisitions or potential mergers and acquisitions.

The latest financing brings Circio’s total capital raised during 2026 to approximately NOK 820m. The company said its existing cash runway to 2030 remains in place.

Circular RNA platform

Circio is developing circVec, a circular RNA expression technology intended for use in gene and cell therapy.

The company is investigating whether circVec can provide longer-lasting expression when delivered to T cells in vivo, potentially supporting the development of CAR-T therapies without the need to remove and genetically modify a patient’s cells outside the body.

In April, Circio entered an evaluation agreement with Acuitas Therapeutics to test circVec with Acuitas’ T-cell-targeted LNP delivery technology. The collaboration is assessing whether the combination can deliver circVec to T cells and provide sufficiently durable expression for an in vivo CAR-T approach.

Circio reported in August that it had demonstrated long-term circVec expression in vivo using T-cell-targeted LNPs. The company described this as a technical milestone for its non-viral in vivo CAR-T programme, while noting that screening of different vector and delivery technologies was still underway.

Programme remains preclinical

The latest funding is intended to broaden the technology base supporting the programme rather than fund a clinical trial.

Circio is currently evaluating different delivery and vector systems to establish what it considers a suitable combination for its circVec-based in vivo CAR-T approach.

The company has also entered research collaborations to evaluate circVec alongside additional vector and delivery technologies for non-viral in vivo cell therapy.

Erik Digman Wiklund, CEO of Circio, said: “The new capital will be dedicated towards Circio´s circular RNA in vivo CAR-T cell therapy program, an area of very high industry interest that has attracted substantial recent deal activity by big pharma.”

He added: “By securing this additional funding during a period of strong momentum for both in vivo CAR-T and circular RNA, Circio can now broaden and accelerate the circVec cell therapy program.”

The company said the funding will support the selection of technologies needed to develop a complete circVec-based in vivo CAR-T concept.

In vivo CAR-T approaches aim to generate CAR-T cells directly inside the patient by delivering genetic instructions to the body’s own T cells. The approach is being investigated as a way of avoiding some of the manufacturing steps required for conventional ex vivo CAR-T therapies, although delivery, control of CAR expression and safety remain important development challenges.

Circio has not yet announced a clinical-stage in vivo CAR-T candidate. Its current work remains focused on technology selection, preclinical research and establishing proof of concept before potential progression towards clinical development. The company’s August update said its programme was still screening vector and delivery technologies, with selection of preferred components expected to be an upcoming R&D milestone.