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Vivo Capital leads $58.5m Series D for ProNAi Therapeutics

22 Apr 2014

biotech_lrgNucleic acid therapeutics developer ProNAi Therapeutics has secured $59.5m in a Series D round led by venture capital firm 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 in the round.

The company’s main drug candidate, PNT2258, has shown early evidence of systemic anti-tumor effect when administered to patients whose cancers express the BCL2 genetic target.

It said that the combination of genetic specificity with effective IV delivery provides the opportunity to construct potential therapies with a broad range of targets in oncology and other diseases.

Vivo Capital managing director Albert Cha said, “ProNAi is developing a new class of DNAi therapeutics that has demonstrated promising results in lymphoma patients.

“We are excited about the opportunity to move PNT2258 forward and further develop the company’s pipeline.”

One of the company’s backers, OrbiMed, recently backed a $38m Series C round for biopharmaceutical company Sage Therapeutics.

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