Wednesday November 11, 2015 0 comments
BOULDER -- miRagen Therapeutics, a biopharmaceutical company developing innovative microRNA-based therapeutics, announced a Series C preferred stock financing with gross proceeds of $41 million, including the conversion of outstanding notes.
The company said it plans to use financing proceeds to advance two product candidates – MRG-106 and MRG-201 – into clinical development.
“We have made significant advances in translating cutting-edge science into important new medicines,” said William Marshall, miRagen CEO.
“With this new investment, the team at miRagen has the financial resources to advance two product candidates into clinical development that offer potentially transformative therapies for patients who suffer from hematological malignancies and pathological fibrosis.”
The funding round was co-led by MRL Ventures, a venture fund of Merck, and JAFCO Co. Ltd. The round was also joined by new investors Brace Pharma Capital and MP Healthcare Venture Management and existing investors Atlas Ventures, Amgen Ventures, Boulder Ventures, Remeditex Ventures and others.
Joshua Resnick, MRL Ventures president, will join the company’s board of directors.
“As an entrepreneur, executive, life science venture capitalist and a physician, Josh brings a valuable combination of experiences to miRagen,” said Marshall.
“Evidence is increasingly pointing to the potential of microRNAs as potential targets for therapeutic intervention,” said Resnick. “I look forward to working with the miRagen leadership team to advance the company’s portfolio of product candidates.”