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news.DNA Therapeutics, a biopharmaceutical company, has closed its series A equity investment round. The investor syndicate led by SGAM SEFTI with two of the previous seed investors, Blue Medical Investments and G1J-Ile de France, is committed to invest E2.2 million based on certain milestones to be met.
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The funds will enable DNA Therapeutics to advance the vectorization and the additional proofs of concept, and to achieve regulatory preclinical studies of its lead product, named Dbait.
Since June 2008, DNA Therapeutics has raised E3 million through the current series A and the previous seed financing round led by Inserm-Transfert Initiative.
Jian-Sheng Sun, co-founder, chairman and CEO of DNA Therapeutics, said: We are delighted to have received this significant investment from SGAM SEFTI (Specialized European fund for Therapeutic Innovation) that is strongly committed to support life science innovation at early stage in France and in Europe, and that shares our business vision and values the potential of our drug development based on our unique siDNA technology.
This financing will allow DNA Therapeutics to move ahead with an aggressive timeline for the preclinical development of Dbait which will enter into Phase I/II clinical trial by the end of 2010.