On July 6, 2021 MiNA Therapeutics Limited ("MiNA" or the "Company"), the pioneer in small activating RNA therapeutics, reported that Eli Lilly and Company has entered into a definitive agreement under which it will make a direct equity investment in MiNA (Press release, MiNA Therapeutics, JUL 6, 2021, View Source [SID1234584623]).

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The equity investment of approximately $15m follows the recent agreement between the two companies to develop novel drug candidates using MiNA’s proprietary small activating RNA (saRNA) technology platform, announced on 11 May 2021.

Proceeds from the equity investment will be used to advance and expand MiNA’s internal pipeline of saRNA therapeutics, which is initially focused on immuno-oncology and genetic diseases.

Robert Habib, CEO of MiNA Therapeutics, commented:
"We welcome Lilly as an important shareholder in MiNA. This investment from Lilly, together with our recently announced multi-target research collaboration, represents an important endorsement of our saRNA platform."