Traversa Therapeutics raises $5m in series B financing

Traversa Therapeutics, a biopharmaceutical company engaged in the discovery, development and commercialization of RNAi anti-cancer therapeutics, has secured $5m in series B financing.

The financing was led by Morningside Venture Investments and joined by Mesa Verde Venture Partners and existing investors. Proceeds from the investment will support the advancement of Traversa’s RNAi oncology programs into clinical trials.

Hans Petersen, president and CEO of Traversa, said: We are pleased to have completed this financing and are thrilled at the level of industry support that we are receiving. These funds, in conjunction with pending collaboration and licensing revenue will provide the company with two years of operating cash, and will enable Traversa to begin its first Phase I clinical trial.

Traversa Therapeutics, a biopharmaceutical company engaged in the discovery, development and commercialization of RNAi Delivery Technologies. The company strives to rapidly advance short interfering RNA (siRNA) platform delivery technologies for use by RNAi therapeutic companies in targeting a variety of acute, chronic and infectious human diseases. Traversa is focused on the optimization of platform delivery technology, as well as advancement of therapeutic programs for the treatment of Leukemia and Glioblastoma.