PhaseRx Obtains $18,500,000 New Round
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a9471bca-770c-450c-a4ad-6753ff90174f - Date
5/18/2016 - Company Name
PhaseRx - Mailing Address
410 West Harrison Street Seattle, WA 98119 USA - Company Description
PhaseRx (NASDAQ: PZRX) is an RNAi delivery technology company developing a breakthrough polymer-based system that enables the systemic delivery of RNAi-based drugs and potentially other macromolecules as therapeutic products. - Website
http://www.phaserx.com - Transaction Type
IPO - Transaction Amount
$18,500,000 - Transaction Round
Undisclosed - Proceeds Purposes
Although it is difficult to predict our liquidity requirements, based upon our current operating plan, and assuming successful completion of this offering and our success in securing a combination of debt financing and/or strategic partnerships, we believe we will have sufficient cash to meet the following milestones, with respect to our current urea cycle disorder therapeutic programs: achieve preclinical proof of concept for the treatment of a second urea cycle disorder; select a urea cycle disorder product candidate for further development; scale up the manufacturing of the lead urea cycle disorder product candidate; complete GMP-manufacturing and GLP-compliant toxicology studies; and file an IND application with the FDA for this product candidate. In furtherance of the foregoing, we intend to use the net proceeds of this offering as follows: approximately $459,000 to achieve preclinical proof of concept for the treatment of a second urea cycle disorder; approximately $689,000 to se - M&A Terms
