NEW YORK, Feb. 2 (GenomeWeb News) - ExonHit Therapeutics has issued €8.3 million ($10.3 million) in convertible bonds to existing shareholders and affiliate companies, the Paris-based company said today.
The funding will allow ExonHit to operate into 2006 and to conduct clinical trials. The company focuses on alternative RNA splicing, using a gene profiling technology to identify RNA splicing alternatives on a genome-wide scale.
ExonHit plans to develop therapeutics and diagnostics for neurodegenerative diseases and cancer. In 2001, the company raised €30 million in a private financing round.