Proceeds to advance miRagen’s microRNA-based therapeutics pipeline
New investor Remeditex Ventures leads the round joining all existing investors
BOULDER, CO, April 24, 2012 – MiRagen Therapeutics, Inc., a biopharmaceutical company developing innovative microRNA (miRNA)-based therapeutics primarily for the treatment of patients who suffer from cardiovascular and muscle disease, announced today the completion of a $20 million Series B financing. The financing is being led by Remeditex Ventures, LLC, with participation from miRagen’s existing investor syndicate, which includes Atlas Venture, Boulder Ventures Ltd., Amgen Ventures, and Broadview Ventures. The funding enables miRagen to advance the development of its compelling microRNA-based therapeutics pipeline.
“The Series B financing provides further validation of miRagen and the promise of microRNA-based therapeutics,” said William S. Marshall, Ph.D., President and Chief Executive Officer. “This funding strengthens our ability to advance novel microRNA-based therapeutics that may address areas of high unmet medical need and improve the lives of patients. We are thankful to have a committed syndicate of investors and excited to welcome Remeditex to the team.”
“In a short period of time, miRagen has delivered significant advances that help to translate new biology into next generation therapeutic candidates,” said Bruce Booth, D.Phil., miRagen’s Chairman of the Board and Partner, Atlas Venture. “The team has generated these compelling results in a capital efficient manner, and we look forward to moving the company to the logical next level with the Series B investment.”
“We are excited to be a part of the high quality team at miRagen and to help advance the company’s promising therapeutics,” said John Creecy, Chief Executive Officer and Director at Remeditex Ventures. “We believe this science can be life changing for the many that have so few options today, and that miRagen is well positioned for success in making that happen.”
About microRNAs: MicroRNAs have emerged as an important class of small RNAs encoded in the genome. They act to control the expression of sets of genes and entire pathways and are thus thought of as master regulators of gene expression. Recent studies have demonstrated that microRNAs are associated with many disease processes. Because they are single molecular entities that dictate the expression of fundamental regulatory pathways, microRNAs represent potential drug targets for controlling many biologic and disease processes.
About miRagen Therapeutics: MiRagen Therapeutics, Inc., is a biopharmaceutical company founded to harness the power of microRNA (miRNA) biology and develop innovative microRNA-based therapeutics for cardiovascular and muscle disease. In October 2011, miRagen and Les Laboratoires Servier, a leading European pharmaceutical company, entered into a strategic alliance for the research and development of microRNA-based therapeutics for the treatment of patients afflicted with cardiovascular disease. Combining in-house expertise in microRNA biology and chemistry with strong external partnerships and academic collaborations, miRagen is striving to make a difference in health care across the globe. For more information, please visit www.miragenrx.com.