Pantherna Therapeutics announces the successful completion of a follow-on financing round totaling EUR 4.0 Mio. led by existing investors Riesner Verwaltungs GmbH and High-Tech Gründerfonds. The proceeds of this round will be used to accelerate preclinical development activities for its lead program PAN004, an mRNA-based therapeutic for Acute Respiratory Distress Syndrome (ARDS).
ARDS causes a life-threatening damage to the lungs induced by an excessive hyperinflammatory reaction of the lung tissue in response to bacterial and viral infections including SARS-CoV2 (COVID-19). No targeted therapy is available for this syndrome to prevent fluid retention and tissue damage to the lungs. Pantherna Therapeutics is developing a targeted therapy with a new mode of action by expressing a TIE-2 receptor agonist to restore endothelial barrier function.
"The new funds will be used to expand the PAN004 development activities and will also support Pantherna´s efforts to strengthen its R&D team and activities for advancing its mRNA therapeutics technology for new indications", Dr. Jörg Kaufmann, CSO at Pantherna Therapeutics.
"Qiagen developed the purification of RNA nearly 40 years ago, and in recent years the outstanding impact of mRNA-technology for vaccination became obvious. I am more than happy to follow now the development of mRNA-technology to the urgent need of targeted therapy", Prof. Detlev Riesner, Qiagen-co-founder and private investor of several Biotech companies.
"We are delighted to assist in the new funding round to bring Pantherna´s innovation a huge step closer to the clinic", Dr. Anke Caßing, Principal at High-Tech Gründerfonds.