A pair of biotech start-ups raised their flags this morning. Out in Seattle, Mirina announced that it had raised an undisclosed amount of money in a Series A-1 that would cover its burn rate for the next 12 to 15 months. And a new start-up dubbed LipimetiX has announced its debut in Boston.
Versant Ventures led the round for Mirina, which will use the money--however much it is--to further explore development of microRNA therapies. Xconomy notes that while Mirina is keeping the financial details hidden, it is enough to purchase some crucial intellectual property. The deal also helps underscore venture money's interest in the whole field of microRNA, which has turned hot in recent years.
"The Mirina team has made exceptional technical progress on its strategy of translating the potential of microRNA into therapeutic products, an important new wave of technology that will impact diseases ranging from infection to inflammation and cancer," commented Brian Atwood, managing director of Versant Ventures. "Versant is very pleased to be joining the Accelerator investors in this round of financing of Mirina."
LipimetiX, meanwhile, launched its virtual operations as developer of "a series of peptides therapeutics that mimic the function of Apolipoprotein E (Apo E), focused on lipid-lowering treatments for high-risk cardiovascular patients." The company is headed by Dennis Goldberg, Ph.D, who was president of Transport Pharmaceuticals in Framingham, MA, several years ago, when it was able to raise a significant amount of venture capital.
- check out Mirina's release
- here's the LipimetiX release
- see the story on Mirina from Xconomy for more