/CORRECTION/ -- NapaJen Pharma, Inc./
TOKYO and BURLINGAME, Calif., Jan. 9, 2019
TOKYO and BURLINGAME, Calif., Jan. 9, 2019 /PRNewswire/ -- In the news release, "NapaJen Pharma Closes $12.4 Million Series C Financing" issued on 9-Jan-2019 by NapaJen Pharma, Inc. over PR Newswire, we are advised by the company that one of the investors' name was incorrect. "P&D Directions Inc." should read "P&E Directions Inc." The full corrected release is as follows:
NapaJen Pharma Closes $12.4 Million Series C Financing
NapaJen Pharma, Inc., a biotherapeutics company leveraging its proprietary immune cell-targeted oligonucleotide delivery technology to develop novel immunotherapeutic agents, has announced the closing of a $12.4 million Series C financing deal. The financing was led by the existing investor, INCJ, Ltd., and included participation by existing investor Mitsui & Co. Global Investment and newly participating P&E Directions Inc.
The funding will be used to complete the Phase 1 clinical development of NJA-730 started in the autumn of 2018 in Australia and prepare for further development. NJA-730 is a novel immunosuppressive therapeutic agent that combines an anti-CD40 small interfering RNA (siRNA) with the company's beta-glucan delivery technology. The primary objective of the study is to evaluate the safety and tolerability of NJA-730 administered intravenously. Key secondary objectives will include an assessment of the pharmacokinetic profile of the compound. Investigators will also evaluate the impact of NJA-730 on CD40 gene suppression.
NapaJen's novel, proprietary delivery vehicle is built upon schizophyllan, a beta-glucan that specifically binds to Dectin-1, a cell surface receptor expressed on antigen presenting immune cells, namely dendritic cells and macrophages. By complexing oligonucleotides with schizophyllan, NapaJen's delivery platform uniquely enables the efficient and selective delivery of oligonucleotides to cells playing key roles in regulating immune responses. The outcome of Phase 1 clinical trials of NJA-730 is expected to lend evidence of its efficiency and advance new modality of oligonucleotide-based therapeutics.
NapaJen Pharma, Inc. is a clinical-stage, biotherapeutics company leveraging its proprietary immune cell-targeted oligonucleotide delivery technology to develop novel immunotherapeutic agents. Founded in 2004 as a California corporation, NapaJen has developed a proprietary platform technology in which oligonucleotide compounds are stably and selectively delivered to immune cells. Leveraging the versatility of the platform technology, NapaJen aims to create new oligonucleotide therapeutics in the area of immune-related conditions, such as autoimmune diseases, cancer, transplantation and vaccine, through collaborative work with industry and academia.
For more information, please visit www.napajen.com
View original content:http://www.prnewswire.com/news-releases/correction----napajen-pharma-inc-300775556.html
SOURCE NapaJen Pharma, Inc.