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ProNAi Closes $6.65M Financing to Support DNAi Drug Development

NEW YORK (GenomeWeb News) - ProNAi Therapeutics has secured $6.65 million in bridge funding from several financing sources, the company said today.
 
The Kalamazoo, Mich.-based startup uses DNA interference to develop drugs aimed at treating non-Hodgkin's lymphoma and prostate, breast, and colon cancers.
 
The company said it will use the funding to continue development of its lead drug candidate, PNT-100. ProNAi said it hopes to submit the compound to the FDA as an investigational new drug in mid-2007.
 
The current funding round includes $3.3 million that the company had previously announced from the Michigan Economic Development Corporation. Other sources for the new funding include Apjohn Ventures, Grand Angels, Amherst Fund, and Sigvion Ventures.
 
ProNAi has raised $11 million since its founding in 2004.

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