eTheRNA Raises EUR 34 Million in Series B Financing to Accelerate Multiple mRNA Therapeutic Development Programs Through to Clinical Proof of Concept
- Category: DNA RNA and Cells
- Published on Tuesday, 16 June 2020 15:28
- Hits: 979
- Advancing oncology and infectious diseases pipeline, including new SARS-CoV-2 program
- Proprietary mRNA TriMix technology provides unprecedented immune responses
- Ongoing clinical trials in metastatic melanoma and breast cancer
- Proprietary LNP platform for intravenous delivery to enter clinical development in HPV-positive cancer
- Enlarged international investor syndicate includes a new corporate investor
NIEL, Belgium I June 16, 2020 I eTheRNA immunotherapies NV ('eTheRNA' or 'The Company'),a clinical-stage company developing immunotherapies from its proprietary mRNA TriMix platform for the treatment of cancer and infectious diseases, today announced that it has successfully raised Euro 34 million in a Series B equity financing round. All existing investors - LSP (the Netherlands), PMV (Belgium), Boehringer Ingelheim Venture Fund (Germany), Fund+ (Belgium) and Omega Funds (USA) - are participating in the round. They are joined by Grand Decade, a BVI subsidiary owned by China Grand Pharmaceutical and Healthcare Holdings Ltd ('GP(HK)'; HKSE Stock code 00512), BNP Paribas Fortis Private Equity (Belgium), Yijing Capital (China) and Novalis LifeSciences LLC (USA). GP(HK) and eTheRNA have also agreed outline terms for a possible exclusive strategic partnership for mRNA manufacturing, independent research and development, production and commercialization in Greater China.
Proceeds of the financing will fund continued development and commercialization of proprietary mRNA technologies and a range of therapeutic products. eTheRNA's TriMix platform is a core differentiating component in the Company's product programs and comprises three mRNAs encoding proteins that act together to significantly increase immune responses. TriMix has demonstrated broad application across major cancer types, both preclinically and clinically, offering the prospect of therapeutic vaccines and localised tumor treatments acting synergistically with standard of care treatments. To facilitate its product development activities eTheRNA has developed a proprietary lipid nanoparticle (LNP) platform to enable intravenous delivery of various (neo)antigens, which in combination with TriMix results in unprecedented immune responses. Not only will eTheRNA start clinical development of its internal programs for intravenous mRNA delivery, the Company will also explore partnering opportunities. In infectious diseases, eTheRNA's technologies are being deployed in an eTheRNA-led international consortium which is developing a cross-strain protective SARS-CoV-2 mRNA vaccine for high risk populations.
Dr Russell Greig, Chairman eTheRNA, commented: "The growing evidence of TriMix's robustness and versatility as a differentiating immune stimulatory platform in a number of clinical indications was a key factor in the successful conclusion of this new funding round. We are excited that the current Series B financing provides eTheRNA with the opportunity to advance its oncology and infectious diseases pipeline further into the clinic, with the primary objective being to demonstrate clinical proof-of-concept in the near term, including for its proprietary LNP platform enabling intravenous delivery of (neo)antigens. We are delighted with the response from both existing and new investors. In addition, the strategic partnership with China Grand Pharma opens a wealth of opportunities in this potentially vast market and we are looking forward to concluding this partnership."