RNAimmune Secures $27 Million Series A Round of Financing for Development of mRNA Therapeutics and Vaccines
GAITHERSBURG, Md., March 29, 2022 /PRNewswire/ -- RNAImmune Inc. (the "Company" or "RNAimmune"), a biopharmaceutical company specializing in discovery and development of mRNA-based therapeutics and vaccines, announced today that is has secured an approximately US$27 million Series A round of financing. The Company intends to use the funding to accelerate its research and development of mRNA vaccine and drug discovery focused on infectious disease, cancer, and rare diseases. The round was led by existing shareholders of RNAimmune, including Sirnaomics Ltd. ("Sirnaomics", stock code: 2257. HK) and Smooth River Limited ("Smooth River"), and a new investor, an investment fund managed by Rotating Boulder Fund.
Since its establishment in March 2020, RNAimmune has built up its mRNA vaccine and drug discovery and development platform to tackle high unmet medical needs in infectious diseases, cancer and rare diseases. The Company submitted the pre-IND meeting package for its lead candidate, RIM730, an mRNA vaccine for COVID-19 with the U.S. Food and Drug Administration (FDA) in October 2021 and received the green light in January 2022. The Company anticipates filing an IND with the FDA in the fourth quarter of 2022 to initiate a Phase I study to evaluate the safety, tolerability, and pharmacokinetics of RIM730. RNAimmune is also advancing its Pan-RAS tumor vaccine program in collaboration with the University of California, Los Angeles, and prophylactic HSV vaccine program in collaboration with the University of Houston.
"The support we received in this Series A financing from this distinguished group of existing and new investors demonstrates confidence in RNAimmune's technology and products," said Dr. Dong Shen, founder and president of RNAimmune. "This funding fuels our ability to scale the team and expand our mRNA vaccine programs. In addition, we will verify our own next-generation AI-driven mRNA delivery platform, including a PLNP delivery system."
"By sealing an additional US$27 million for RNAimmune, we can progress its clinical trial programs for critical public health concerns, and ensure we are well positioned globally within the fast-growing mRNA-based therapeutics and vaccine industry," said Dr. Patrick Lu, Founder, Chairman of the Board, Executive Director, President and Chief Executive Officer of Sirnaomics and the Chairman of the Board of RNAimmune.
RNAimmune has product candidates in pre-clinical and clinical stages. The Company completed angel financing of US$2.3 million in August 2020 and Series Seed round of US$10 million in April 2021.
About Smooth River
Smooth River is a company limited by shares incorporated in the Republic of Seychelles as an international business company. Smooth River is an existing shareholder of Sirnaomics and RNAimmune.
About Rotating Boulder Fund
Rotating Boulder Fund is an equity investment management company focusing on long-term value creation. A number of investment funds managed by Rotating Boulder Fund are existing shareholders of Sirnaomics.
RNAimmune is a biopharmaceutical company specializing in discovery and development of messenger RNA (mRNA) therapeutics and vaccines. The Company leverages mRNA as a data carrier to instruct human body to produce its own proteins capable of fighting a wide range of diseases. A subsidiary of Sirnaomics, RNAimmune has received a global exclusive right to the proprietary Polypeptide Lipid Nanoparticle (PLNP) technology for mRNA delivery from Sirnaomics. The Company has also developed a proprietary A.I. algorithm (ALEPVA) for antigen prediction and vaccine design. By integrating multiple established platform technologies, the Company is aiming to develop a comprehensive mRNA drug discovery and development platform, from which the Company will enrich its therapeutic and vaccine product pipeline addressing tremendous unmet needs in treatments of viral infections, cancer and rare diseases. The Company's headquarter is located in Gaithersburg, Maryland and has a vision on the global market. Learn more at www.rnaimmune.com.
Sirnaomics is an RNA therapeutics biopharmaceutical company with product candidates in preclinical and clinical stages that focuses on the discovery and development of innovative drugs for indications with medical needs and large market opportunities. Sirnaomics is the first clinical-stage RNA therapeutics company to have a strong presence in both China and the United States, and also the first company to achieve positive Phase IIa clinical outcomes in oncology for an RNAi therapeutics for its core product, STP705. Learn more at www.sirnaomics.com.
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SOURCE Sirnaomics Ltd.
Company Codes: HongKong:2257