ARTICLE | Financial News

ProNAi raises $59.5 million D round

April 21, 2014 11:57 PM UTC

ProNAi Therapeutics Inc. (Kalamazoo, Mich.) raised $59.5 million in a series D round led by new investor Vivo Capital. New investors Frazier Healthcare Ventures; OrbiMed Advisors; Adams Street Partners; RA Capital Management; Caxton Alternative Management; Hopen Life Science Ventures; Sectoral Asset Management; and Janus Capital Management also participated, along with existing investors, including Capital Midwest Fund; Apjohn Ventures Fund; Amherst Fund; and Grand Angels.

ProNAi is developing its DNA interference, which uses single-stranded, unmodified, phosphodiester DNA sequences designed against genomic DNA to modulate gene transcription. The company's lead compound, PNT2258, a cancer therapeutic targeting a DNA sequence upstream of B cell lymphoma 2 ( BCL-2; BCL2) promoters, is in Phase II testing to treat relapsed or refractory non-Hodgkin's lymphoma (NHL). This quarter, the company also plans to start a Phase II trial to treat diffuse large B cell lymphoma (DLBCL). ...