RNAimmune closes $2.35m seed funding for development of mRNA therapeutics and vaccines

RNAimmune closes $2.35m seed funding for development of mRNA therapeutics and vaccines

Published: 24-08-2020 15:44:00 | By: Pie Kamau | hits: 5461 | Tags:

RNAimmune, Inc., a biopharmaceutical company specializing in discovery and development of mRNA-based therapeutics and vaccines, announced the 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.

Dr. Dong Shen comments: "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. 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."