NEW YORK (GenomeWeb News) – Polyplus-transfection has raised €1.2 million ($1.8 million) through a new funding round from existing investors.
The Strasbourg, France-based firm said it plans to use the funding primarily for its RNAplus research program, which aims to generate new oligonucleotides that are capable of silencing the expression of a target gene through RNA interference without the need for a delivery reagent.
The investment came from the issue of convertible bonds and it was led by existing investor CIC-Vizille Capital Innovation, and the participation of Avenir Finance Gestion and CIC Finance-CIC Investissement Alsace.
Polyplus-transfection also plans to add a new CEO and business development manager for its operations in the US, which contributes 40 percent of the firm's sales.
It also expects that the financing will enable it to continue development of Zip Nucleic Acid oligonucleotides and to defend some of its intellectual property.