MiNA Therapeutics Announces Equity Investment From Lilly
LONDON--(BUSINESS WIRE)-- MiNA Therapeutics Limited (“MiNA” or the “Company”), the pioneer in small activating RNA therapeutics, announces that Eli Lilly and Company has entered into a definitive agreement under which it will make a direct equity investment in MiNA.
The equity investment of approximately $15m follows the recent agreement between the two companies to develop novel drug candidates using MiNA’s proprietary small activating RNA (saRNA) technology platform, announced on 11 May 2021.
Proceeds from the equity investment will be used to advance and expand MiNA’s internal pipeline of saRNA therapeutics, which is initially focused on immuno-oncology and genetic diseases.
Robert Habib, CEO of MiNA Therapeutics, commented:
“We welcome Lilly as an important shareholder in MiNA. This investment from Lilly, together with our recently announced multi-target research collaboration, represents an important endorsement of our saRNA platform.”
About MiNA Therapeutics
MiNA Therapeutics is the leader in small activating RNA therapeutics. Harnessing innate mechanisms of gene activation, small activating RNA therapeutics are a revolutionary new class of medicines that can restore or boost normal function in patients' cells. We are advancing a proprietary pipeline of new medicines with an initial focus on cancer and genetic diseases, while collaborating with leading pharmaceutical companies to apply our technology platform across a broad range of therapeutic areas. Based on our unique know-how in RNA activation we are expanding the possibilities of RNA-based medicine for patients. www.minatx.com
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Source: MiNA Therapeutics Limited
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