MiNA Therapeutics Secures $15 Million Equity Investment from Eli Lilly to Advance saRNA Therapeutics Pipeline

On July 6, 2021, MiNA Therapeutics announced that it has entered into a definitive agreement with Eli Lilly (Eli Lilly and Company), under which Eli Lilly will make an equity investment of approximately $15 million in MiNA.

Recently, the two companies announced a global research collaboration to develop novel drug candidates utilizing MiNA Therapeutics' proprietary saRNA technology platform. Proceeds from the equity investment will be used to advance and expand the development of MiNA’s small activating RNA (saRNA) therapy pipeline, which is initially focused on immuno-oncology and genetic diseases.

MiNA Therapeutics is an RNA therapeutics research and development company. It aims to harness the innate mechanisms of gene activation through small activating RNA therapeutics to restore or enhance the normal function of patient cells.The company is advancing a pipeline of patented novel drugs, with a focus on cancer and other genetic diseases. Concurrently, the company is collaborating with pharmaceutical companies to apply its technology platform across a broad range of therapeutic areas. Leveraging its RNA activation technology, the company is expanding the potential of RNA therapeutics for diverse patient populations.

MiNA Therapeutics' drug candidate MTL-CEBPA is a novel drug initially developed as a combination therapy for cancer.MTL-CEBPA aims to reduce immunosuppression in bone marrow cells by utilizing an RNA activation mechanism to restore C/EBP-α protein to normal levels.MTL-CEBPA has been tested in a series of preclinical cancer models and has been shown to enhance the antitumor activity of standard cancer therapies.

Mr. Robert Habib, Chief Executive Officer of MiNA Therapeutics, commented: "The Company welcomes Eli Lilly as a significant shareholder of MiNA. This investment by Eli Lilly, together with the recently announced multi-target research collaboration, represents the Company's validation of the saRNA platform."