Mirna Therapeutics Secures $41.8 Million Series D Financing to Advance Oncology MicroRNA Pipeline
Series D is Mirna’s Largest Financing to Date With Ten Institutional and Strategic Investors
AUSTIN, TX–(Marketwired – April 30, 2015) – Mirna Therapeutics (Mirna), a private, clinical-stage biopharmaceutical and immuno-oncology company focused on the development of microRNA-based cancer therapeutics, today announced the completion of a $41.8 million Series D financing. The company’s second institutional financing was led by Baxter Ventures, joined by other new investors, Eastern Capital, Santé Ventures, Morningside Ventures, Rock Springs Capital, and Celgene Corporation. Existing investors Sofinnova Ventures, New Enterprise Associates, Pfizer Ventures, Osage University Partners, Correlation Ventures, and others, also participated in the financing. The funding will enable Mirna to advance its lead microRNA (miRNA) therapeutic product candidate, MRX34, into Phase 1b and Phase 2 trials in 2016. Indications for further development will be selected at the completion of Mirna’s ongoing Phase 1 trial in patients with hepatocellular carcinoma, other solid tumors and hematological malignancies. The Company also plans to advance a second miRNA therapeutic candidate into clinical trials with the proceeds of this financing, as well as embark on a combination therapy development program.
“Mirna is the industry leader in microRNA Replacement Therapy and we are excited to have the opportunity to invest,” said Geeta Vemuri, Vice President and Head of Baxter Ventures. “The Company has generated very compelling preclinical and encouraging clinical data to date and has a strong pipeline of miRNA development candidates behind the lead program.”
“This successful financing further demonstrates the enthusiasm of the investment community for the Mirna opportunity and is an important validation of the therapeutic potential of our differentiated microRNA Replacement Therapy approach,” said Paul Lammers, M.D., Mirna’s President and Chief Executive Officer. “We are excited to have the opportunity to expand our development program for MRX34 in multiple indications as well as push ahead with our next clinical candidate.”
About Mirna Therapeutics, Inc.
Mirna Therapeutics, Inc. is a clinical-stage biopharmaceutical and immuno-oncology company developing a broad pipeline of leading microRNA-based oncology therapeutics. Mirna’s lead program, MRX34, a first-in-class cancer compound, is the first miRNA mimic drug candidate to advance into clinical testing. MRX34 is currently being studied in a Phase 1 clinical trial including patients with hepatocellular carcinoma, other solid tumors and hematological malignancies. The Phase 1 clinical trial is expected to enroll approximately 120 patients and results are expected in late 2015. Mirna’s patent portfolio relating to its proprietary microRNA mimics technology consists of twelve issued U.S. patents that include cancer and non-cancer therapeutic use claims related to 17 tumor suppressor microRNAs and more than 100 U.S. and foreign pending patent applications that it either owns or in-licenses from third parties. The company, founded in 2007 and located in Austin, Texas, has received funding from the State of Texas, both through the State’s Emerging Technology Fund, and from CPRIT (Cancer Prevention Research Institute of Texas).
For more information, visit www.mirnarx.com.
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