ArunA Bio Raises $13M in Common Stock Financing

ArunA Bio, Inc., an Athens, Ga.-based leader in the development of neural exosomes for the treatment of neurodegenerative diseases, completed a $13m common stock financing.

The financing included both existing and new private investors along with participation by several institutional investors including Eshelman Ventures and members of the Board of Directors and management.

Proceeds will be used to support the continued development of ArunA Bio’s platform and therapies.

Led by Dr. Mark A. Sirgo, Chief Executive Officer, ArunA Bio is advancing a neural exosome delivery platform and a pipeline of novel neural exosome therapies for the treatment of neurodegenerative diseases such as ALS and Huntington’s Disease, as well as stroke. The company plans to use the proceeds to further validate the ability of its proprietary neural exosomes to provide therapeutic benefits through their anti-inflammatory, neuroprotective and neuroregenerative properties, as well as deliver therapeutic payloads including siRNAs and antibodies across the blood brain barrier. Data from planned studies will support the submission of ArunA Bio’s first pre-IND (Investigational New Drug) package to the U.S. Food and Drug Administration in the upcoming months. Additionally, funding will support key personnel hiring and further expansion of ArunA’s proprietary manufacturing capabilities to meet future regulatory requirements. The company is also looking to partner with pharmaceutical and biotech companies with a presence in the neurodegenerative disease space to develop the neural exosome platform.

ArunA Bio also announced that it has established an office in Research Triangle Park, North Carolina.

FinSMEs

25/07/2019