Arcturus Therapeutics Raises $1.3 Million in Series Seed Funding
Financing from High Net-Worth Private Investors to Fuel RNAi Delivery
Technologies for the Treatment of Disease
SAN DIEGO, June 3, 2013
SAN DIEGO, June 3, 2013 /PRNewswire/ --Arcturus Therapeutics, Inc., an
industry leader in RNAi technologies for the treatment of disease, today
announced it has raised $1.3 million in a seed funding round led by multiple
high net-worth private investors from the United States and Canada.
Arcturus Therapeutics, a San Diego-based company focused on the discovery and
development of therapeutic modalities, was founded in 2013 to pursue RNA
interference (RNAi) solutions for rare diseases for which there is no adequate
"Researchers have made great strides in recent years in diagnosing, treating
and even preventing a variety of rare diseases. Still, much more remains to be
done because there are no treatments for the vast majority of rare diseases
which affect an estimated 25 million to 30 million Americans," said Joseph E.
Payne, president and CEO, Arcturus. "Arcturus is poised to contribute
significant disruptive and promising treatments for rare diseases,
contributing to improved quality of life and betterment of society."
Arcturus' recent round of funding underscores the significant potential
represented by the RNAi market and its role in the development of innovative
pharmaceutical therapies. According to a New Report by Global Industry
Analysts, Inc., the global RNA interference (RNAi) market is expected to reach
$4.04 billion by 2017.
The new round of funding will support the purchase of capital equipment and
further development of Arcturus' intellectual property of RNAi delivery
technologies, along with RNAi target selection, design and in vitro proof of
Arcturus Therapeutics was founded by Joseph Payne and Pad Chivukula,
pharmaceutical scientists and experts in nanoparticle delivery technology and
who have previously executed a preclinical development project through IND
filing for a novel RNAi therapeutic to treat fibrosis. The Arcturus founders
have substantial experience delivering multiple drug products for reputable
companies, such as DuPont Pharmaceuticals, Merck, Bristol-Myers Squibb,
Kalypsys and Nitto Denko.
Arcturus Therapeutics is located in San Diego-based Janssen Labs – where
disruptive research is underway by some of today's leading scientists and
up-and-coming technologists who are working side-by-side to develop pioneering
medical treatments. Recently, Arcturus announced new appointments to its Board
of Directors and Scientific Advisory Board.
About Arcturus Therapeutics, Inc.
Founded in 2013 and based in San Diego, Calif., Arcturus Therapeutics is
poised to become an industry leader in the application of RNAi technologies
for the treatment of disease and improved quality of life. The company's aim
is to develop breakthrough technology and novel therapeutics for rare diseases
for which there is no adequate treatment. Backed by a management team with
extensive experience in the discovery and development of therapeutic
modalities, Arcturus is on the forefront of research and development of
nanoparticle siRNA drug delivery systems. For more information, visit us at
SOURCE Arcturus Therapeutics, Inc.
Contact: Pad Chivukula, 1-858-230-5459, Pad@arcturusrx.com
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