Arrakis in-licenses RNA-targeted small molecule IP

The University of Pennsylvania granted Arrakis Therapeutics Inc. (Waltham, Mass.) exclusive rights to IP and technology related to small molecules that directly target RNA via specific nucleic acid structures within the folds of RNA called three-way junctions. The technology was developed in the lab of David Chenoweth, associate professor in the university's Department of Chemistry.

The university is to receive an upfront payment and is eligible for milestones and royalties. Arrakis said financial details are not disclosed...