On September 10, 2020 MiNA Therapeutics, the pioneer in RNA activation therapeutics, reported the completion of a £23 million ($30 million) Series A equity financing led by aMoon, Israel’s largest healthtech and life sciences venture fund, with participation from existing investors (Press release, MiNA Therapeutics, SEP 10, 2020, View Source [SID1234564967]). The proceeds from the financing will be used to advance MiNA’s pipeline of proprietary, first-in-class, small activating RNA ("saRNA") therapeutics, and to support the continued clinical development of MiNA’s lead candidate, MTL-CEBPA, as a combination treatment in cancer. As part of the Series A financing, Dr. Gur Roshwalb, M.D., M.B.A., Managing Director at aMoon, has joined the Board of Directors at MiNA Therapeutics. MTS Securities, LLC acted as the exclusive placement agent in connection with the financing.
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"Since the inception of MiNA Therapeutics, we have been focused on advancing the Company by validating our innovative therapeutic approach in patients and establishing strategic collaborations with leading academic institutions and industry partners," said Robert Habib, CEO of MiNA Therapeutics. "This financing represents an important step in our evolution that will not only fund our continued clinical development in patients with cancer but will also enable us to further explore the potential of our pioneering approach in therapeutic areas beyond oncology. We are grateful for the support from our existing investors and are honoured to welcome aMoon to MiNA."
"To date, MiNA’s innovative small activating RNA therapeutic approach has demonstrated the potential to modulate previously undruggable targets in difficult-to-treat indications such as liver cancer," said Dr. Gur Roshwalb, Managing Director at aMoon. "We strongly believe in the potential of this new class of medicines and look forward to collaborating with the team at MiNA to support the continued growth of this technology platform."
saRNA medicines have the potential to transform the therapeutic landscape of cancer and other severe metabolic and genetic diseases. MiNA’s lead candidate, MTL-CEBPA, is a first-in-class therapy that reduces immune suppression in the tumour microenvironment. MTL-CEBPA has been studied in clinical trials in more than 70 patients with advanced liver cancer, demonstrating unprecedented initial results. Used in combination with the standard primary cancer treatment drug, sorafenib, MTL-CEBPA improved the rate, duration and depth of response when compared to data independently reported from third-party studies with single agent sorafenib therapy. The additional funding will enable MiNA Therapeutics to conduct a Phase 2 study of MTL-CEBPA in combination with sorafenib in patients with advanced liver cancer and TIMEPOINT, an ongoing Phase I/Ib study of MTL-CEBPA in combination with pembrolizumab in patients with advanced solid tumour malignancies. Additionally, the proceeds will fund research activities to advance a pipeline of novel small activating RNA therapies for the treatment of cancer, metabolic and genetic diseases.