30 March 2022 | Wednesday | News
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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.