InteRNA Technologies Announces Closing of Equity Financing Round
News Sep 06, 2013
InteRNA Technologies B.V. has announced the closing of an equity financing round. New investors participating in this round include the ‘Innovation & Investment Fund Gelderland’, managed by PPM Oost and several business angels.
The proceeds of this financing will be used to progress lead product candidate, miR-3157, for melanoma through preclinical studies towards clinical development.
miR-3157 is a microRNA-based compound that has shown outstanding efficacy data in initial preclinical studies of human melanoma. These data were presented at the Society for Melanoma Research Congress in November 2012.
Recently, the Company was granted US patent 8,362,230, conferring broad and strong IP protection for miRNA-3157 and related compounds.
InteRNA has developed a promising platform for discovery and validation of miRNA based drug candidates against previously undruggable targets in cancer and other major diseases.
In addition to its own miR-3157 program, the Company intends to partner development of other compounds with selected pharmaceutical companies.
“Building on our leadership position in the field of miRNA-based drugs, and backed by a strong and broad intellectual property position on a large collection of potential miRNA drug candidates, InteRNA is building a competitive pipeline of breakthrough therapeutics, both through internal development and in collaboration with partners. The present funding provides us additional resources to progress development of our lead compound and further validate the power of our platform”, said Roel Schaapveld, CEO of InteRNA Technologies.
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