Mirna Therapeutics Secures $44,100,000 New Financing
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Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=64736bd9-cca6-4a39-a0b6-400c2ed71039
Date 9/30/2015
Company Name Mirna Therapeutics
Mailing Address 2150 Woodward St. Austin, TX 78744 USA
Company Description Mirna Therapeutics, Inc. (NASDAQ: MIRN) is a biopharmaceutical company developing a broad pipeline of microRNA-based oncology therapeutics and is the first to establish clinical proof-of-concept for a microRNA replacement therapy for cancer.
Proceeds Purposes We currently estimate that we will use the net proceeds from this offering, together with the net proceeds from the concurrent private placement as noted below and our existing cash and cash equivalents, as follows: approximately $52.0-$62.0 million to fund clinical development expenses for our lead program, MRX34, which includes approximately $13.0-$16.0 million to complete the Phase 1 clinical trial, including expansion cohorts on multiple indications and/or changes in protocol, approximately $15.0-$18.0 million to initiate the Phase 2 clinical trial for an indication to be determined, and approximately $24.0-$28.0 million, which will include the net proceeds from the concurrent private placement, to fund preclinical and clinical studies for the use of MRX34 in combination with standard of care drugs, approximately $21.0-$25.0 million to fund preclinical and clinical studies for a second product candidate using another to be determined mimic product, and the remainder for preclinical