Australian microRNA drug developer Mireven said last week that it has received an additional A$500,000 ($511,000) from early-stage investment group Medical Research Commercialization Fund, bringing the total investment MRCF has made in the company to A$1.1 million.
According to Mireven, the additional investment is the result of its achievement of undisclosed technical and commercial milestones. The company is developing a mimic of miR-7 as a treatment for cancer.
“This pivotal funding from the MRCF allows Mireven to expand and undertake in vivo studies to examine the delivery of miR-7 with independent parties,” Mireven Chairman Stephen Thompson said in a statement.
Last month, Mireven signed a deal to evaluate Silence Therapeutics' delivery technologies with its miR-7 mimetic (GSN 8/23/2012). It said that it has also inked a second deal with an undisclosed “international company” focused on “positioning miR-7 as a cancer therapeutic.”