RaNA Therapeutics Announces $55 Million in Oversubscribed Series B Financing Led by Merck

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- RaNA Therapeutics, a leader in the discovery and development of a new class of medicines that target RNA to selectively activate protein expression within the body's own cells, today announced the successful completion of a $55 million oversubscribed Series B financing. Proceeds from the financing will be used to bolster RaNA's proprietary platforms focused on epigenetic gene upregulation and messenger RNA (mRNA) stabilization, including investments in chemistry and oligonucleotide synthesis capabilities. In addition, the financing will support preclinical efforts towards lead optimization and IND-enabling studies for the company's priority programs that focus on the treatment of spinal muscular atrophy and Friedreich's ataxia. RaNA anticipates having up to two novel therapies in the clinic in 2017.