ArunA Bio, a leader in the development of neural exosomes for the treatment of neurodegenerative diseases, today announced the completion of $13 million in common stock financing. Funding proceeds will be used to support the continued development of ArunA Bio’s neural exosome delivery platform and pipeline of novel neural exosome therapy for the treatment of neurodegenerative diseases such as ALS and Huntington’s Disease, as well as stroke
The financing included both existing and new private investors, with the participation of several institutional investors, including Eshelman Ventures and the Board of Directors and the Board of Directors.
“The level of interest and enthusiasm that investors have shown in this funding effort and the fact that it has been oversubscribed speaks to the interest and excitement in the data that we have generated and the prospects for using our neural exosomes as a therapeutic and delivery vehicle for the treatment of devastating neurodegenerative diseases,” said Dr. Mark A’s Sirgo, Chief Executive Officer, ArunA Bio “We appreciate the support of both existing and new investors and look forward to building shareholder value as we advance our neural exosome science toward meaningful products for patients. “That’s right.
ArunA Bio 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 and to deliver therapeutic payloads including siRNAs and antibodies across the blood brain barrier. The data from the planned studies will support the submission of ArunA Bio’s first pre-IND (Investigative New Drug) package to the U Oh, S Food and Drug Administration in the coming months In addition, funding will support the recruitment of key personnel 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 area to develop a neural exosome platform.
ArunA Bio also announced the establishment of an office in the Research Triangle Park (‘RTP’), North Carolina. RTP is one of the nation’s largest and fastest-growing life sciences markets, with over 550 companies employing over 40,000 people, according to the North Carolina Biotechnology Center. The RTP area has also been very attractive from an investment standpoint, with the amount of new venture capital for life sciences at almost $16 billion over the last one-year period. ArunA Bio expects to increase its management presence in RTP and to continue its ongoing research and manufacturing activities in Athens, Georgia.
About the Bio Aruna
ArunA Bio utilizes the natural ability of neural exosomes to cross the blood brain barrier and enhance the body’s anti-inflammatory, self-repair and protective mechanisms to treat a range of neurodegenerative disorders. ArunA Bio also leverages its proprietary exosomes and manufacturing platform to develop synergistic therapies by enhancing RNA exosomes, oligonucleotides, antibodies and small molecules. www www Arunabio’s Come on,
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