The University of Tennessee Research Foundation’s Accelerate Fund made its first investment in Orion Therapeutics, a biotechnology startup developing next-generation RNA medicines using a novel drug delivery system. UTRF and Launch Tennessee (LaunchTN) co-invested, both contributing $150,000 of pre seed investment.
UTRF’s Accelerate Fund launched in 2023 and provides funding opportunities to help viable startups bring more UT innovations to the world. Managed by UTRF, the fund is uniquely positioned to assess new ventures created from University of Tennessee (UT) innovations. Licensing professionals help identify opportunities, and the Investment Advisory Committee makes investment recommendations. Its portfolio spans several industries, including mobility and human health.
“Accelerate Fund’s mission is to invest in great UT innovations. We invest in good companies across the country that other investors will want to follow. We’ve been working with Orion Therapeutics and Trey Fisher for many years. This investment is the latest chapter in our long-standing partnership,” said UTRF President Maha Krishnamurthy. “I want to thank Launch Tennessee for partnering with us on this investment and the Investment Advisory Committee members for their guidance and feedback during the evaluation and investment process.”
The idea for Orion Therapeutics originated at the UT Graduate School of Medicine, where the foundational technology enabled the development of a novel gene therapy for vascular disease. Orion has since developed GENESYSTM, a unique LNP delivery platform that incorporates bioinspired lipopeptides to package, protect and precisely deliver RNA drug payloads to previously inaccessible areas of the body. This innovative approach aims to transform the development of next-generation RNA medicines, addressing unmet medical needs with enhanced precision and safety.
“I wanted to grow this company in East Tennessee. UTRF, LaunchTN and many other regional partners have made this possible. From UTRF’s initial support protecting our core technology to LaunchTN’s Small Business Technology Transfer (STTR) matching funds, we have received so much support,” said Trey Fisher, Orion Therapeutics Chief Executive Officer and Founder. “I cherish our relationship with UTRF. We’ve worked with the organization for a decade—initially as an inventor and now as the first investment from UTRF’s Accelerate Fund. I wear this current development as a badge of honor.”
LaunchTN’s mission is to empower innovators across Tennessee by providing capital, commercialization and connections. Powered by Launch Tennessee, InvestTN makes equity investments into Tennessee-located startups and venture capital funds. InvestTN is part of Fund Tennessee, a $117 million fund representing Tennessee’s allocation of the most recent State Small Business Credit Initiative (SSBCI 2.0) $10 billion budget.
“InvestTN’s investment in Orion Therapeutics was an investment in Knoxville. Orion Therapeutics is well-represented in Knoxville and has tapped into the great resources of the entrepreneurial ecosystem. It’s a great feeling to support founders who are invested in their community,” said LaunchTN Chief Investment Officer Eller Kelliher. “UTRF’s Accelerate Fund represents a unique opportunity for the state. UTRF and the Fund’s Investment Advisory Committee were very thorough in their evaluation. They gave us the confidence to invest in life science and deep tech spaces.”
With this investment, Orion Therapeutics will achieve the final key milestones to move toward its first seed round. The company hopes this collaborative investment will serve as a beacon for other biotechnology and deeptech companies to relocate and become successful in Tennessee.