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Nucleonics Adds $8.3M to Series B Funding

NEW YORK, June 2 (GenomeWeb News) - Nucleonics has added a second capital infusion to Series B funding first closed in March, the Malvern, Pa.-based RNAi company said yesterday.

 

New investor Quaker BioVentures of Philadelphia participated in the $8.3 million second close, joining previous investors New Enterprise Associates of Baltimore, and SR One of West Conshohocken, Pa., to bring the round to $49.2 million, following a $40.9 million first close in March.

 

The 12-employee firm, which, according to RNAi News, GenomeWeb's sister publication, was founded in 2001 to commercialize gene-silencing technology developed by the company's founders while they were scientists at Apollon, is currently developing an RNAi-based treatment for hepatitis B, which is expected to be ready for phase I testing as early as the first quarter next year. The firm's technical approach is to use DNA plasmids that have been designed to express long pieces of double-stranded RNA targeting multiple genomic sequences.

 

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