RNAimmune Closed Seed Funding of $2.35m for Development of mRNA Therapeutics and Vaccines
GAITHERSBURG, Md., Aug. 24, 2020 /PRNewswire/ -- RNAimmune, Inc., a biopharmaceutical company specializing in discovery and development of mRNA-based therapeutics and vaccines, announces today completion of its $2.35 million seed round financing from multiple venture capitalists including Terra Magnum Capital Partners. The Company will use the proceeds to advance its Covid-19 vaccine (RV1730) program and neoantigen-based cancer vaccine programs.
RNAimmune is a spin-off entity from Sirnaomics, Inc. Since its establishment early this year, the company deploys its in-house artificial intelligence Algorithm for Epitope Prediction and Validation (ALEPVA) for mRNA vaccine and drug design, licenses in a global exclusive right of Polypeptide-Lipid Nanoparticle (PLNP) delivery technology and adopts a large-scale GMP manufacturing knowhows from Sirnaomics. Under the leadership of Dr. Dong Shen, founder and CEO of the company, and with the robust execution from its dynamic management team, RNAimmune has effectively built up its mRNA vaccine and drug discovery and development platform to tackle indications in infectious diseases, cancer, and rare diseases with high unmet needs. In addition to preparing the Covid-19 vaccine (RV1730) candidate for IND filing, the company has advanced its cancer vaccine pipeline using the proprietary ALEPVA and PLNP technologies.
"It is fantastic to have the strong support from the investors and Sirnaomics management team, recognizing the value and potential to have RNAimmune growing as an independent company," Dr. Dong Shen comments. "The fast advancements of the company's technology platform and product pipeline have demonstrated solid scientific foundation and execution capacity of the company management team. As a young startup company, we are thrilled to have garnered a strong network of investors who recognize RNAimmune's early achievements and are confident in our growth potential. The company will continue nurturing and strengthening our relationship with investment community, to secure the company's financial wellbeing with a long term and stepwise growth strategy."
About RNAimmune, Inc.
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 the human body to produce its own proteins capable of fighting a wide range of diseases. RNAimmune is a spin-off venture from Sirnaomics, Inc. having 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 headquarters are located in suburban Maryland and have a vision on the global market. Learn more at www.rnaimmune.com.
About Sirnaomics, Inc
Sirnaomics, Inc., a leading privately held biopharmaceutical company for discovery and development of RNAi therapeutics, is a Delaware corporation headquartered in Gaithersburg, Maryland, USA, with subsidiaries in Suzhou and Guangzhou, China. The Company's mission is to develop novel therapeutics to alleviate human suffering and advance patient care in areas of high unmet medical need. The guiding principles of the company are: Innovation, Global Vision with a Patient Centered focus. Members of the senior management team have a great deal of combined experience in the biopharmaceutical industry, financial, clinical and business management in both the USA and China. The Company is supported by funding from
institutional investors, corporate partnerships and government grants. Sirnaomics has developed a strong portfolio of intellectual property with an enriched product pipeline. The therapeutic areas of focus include oncology and anti-fibrotic therapeutics. Learn more at www.sirnaomics.com.
Dr. Dong Shen, Ph.D.
President & CEO
SOURCE RNAimmune, Inc.