Pharmaceutical firm Eli Lilly agreed today to invest about $15m in UK-based RNA therapeutics developer Mina Therapeutics.
Mina is working on a new class of medicines under the small activating RNA (saRNA) banner deisgned to restore or enhance cell function in patients suffering from cancer and other serious health conditions.
The company plans to use the funding to advance a pipeline of saRNA drug candidates focused on immuno-oncology and genetic diseases. Eli Lilly had recently agreed to develop novel drug candidates by leveraging Mina’s proprietary technology.
Robert Habib, Mina Therapeutics’ chief executive, said: “This investment from Lilly, together with our recently announced multi-target research collaboration, represents an important endorsement of our saRNA platform.”
Healthcare and life science-focused investment fund aMoon led a $30m series A round for the company in September 2020 that included unnamed existing investors.
Biopharmaceutical firm Sosei Group agreed to acquire a 25.6% stake in Mina for $45m in 2017 through a deal which included the option to fully acquire the business for an additional $140m.