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.”