Arcturus Therapeutics Raises $5 Million in Series A Funding to Maintain its Momentum in Nominating Lead Clinical Candidate in 2014
SAN DIEGO, Oct. 21, 2013 /PRNewswire/ -- Arcturus Therapeutics, Inc., an industry leader in RNAi technologies for the treatment of rare orphan diseases, today announced it has secured $5 million in a Series A funding round led by multiple private capital, high net-worth investors from Canada, Japan and the United States.
The Series A funding, which comprised more than 90% of the Series Seed investors, will enable Arcturus to maintain its momentum, nominate its first clinical candidate in 2014, and recruit high caliber talent to expand its operations at the respected Janssen Labs in La Jolla, Calif.
Arcturus anticipates additional revenues in 2014 from its portfolio of Unlocked Nucleic Acid (UNA) intellectual property, wherein very broad claims were recently granted by the USPTO). Furthermore, Arcturus' best-in-class delivery technology will also contribute to the company's ability to nominate additional clinical candidates throughout 2014 as the organization expands its pipeline and brings RNAi technologies to a new level.
"As we meet with investors and potential partners, we're excited to share with them the progress we've made," said Pad Chivukula, co-founder and chief operating officer, Arcturus. "We are leading development of the next wave of best-in-class RNAi technologies that promises to improve the quality of life and our world, and are proud to have the financial support and trust of our investors along with the respect of our peers."
"Now is the time for large pharmaceutical companies who have been on the sidelines to enter the RNAi market," said Joseph E. Payne, president and CEO, Arcturus. "We are leading the way in pioneering disruptive advances in this space that will truly impact many people and be a game-changer within the medical field."
Arcturus management is fully committed to the commercialization of new pharmaceuticals through the combination of in-house discovery and development, pharmaceutical partnerships and licensed commercial rights.
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. The company 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. For more information, visit us at www.ArcturusRx.com.
SOURCE Arcturus Therapeutics, Inc.