PhaseRx Obtains $18,500,000 New Round

  • Feed Type
  • Date
    5/18/2016
  • Company Name
    PhaseRx
  • Mailing Address
    410 West Harrison Street Seattle, WA 98119 USA
  • Company Description
    PhaseRx (NASDAQ: PZRX) is an RNAi delivery technology company developing a breakthrough polymer-based system that enables the systemic delivery of RNAi-based drugs and potentially other macromolecules as therapeutic products.
  • Website
    http://www.phaserx.com
  • Transaction Type
    IPO
  • Transaction Amount
    $18,500,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    Although it is difficult to predict our liquidity requirements, based upon our current operating plan, and assuming successful completion of this offering and our success in securing a combination of debt financing and/or strategic partnerships, we believe we will have sufficient cash to meet the following milestones, with respect to our current urea cycle disorder therapeutic programs: achieve preclinical proof of concept for the treatment of a second urea cycle disorder; select a urea cycle disorder product candidate for further development; scale up the manufacturing of the lead urea cycle disorder product candidate; complete GMP-manufacturing and GLP-compliant toxicology studies; and file an IND application with the FDA for this product candidate. In furtherance of the foregoing, we intend to use the net proceeds of this offering as follows: approximately $459,000 to achieve preclinical proof of concept for the treatment of a second urea cycle disorder; approximately $689,000 to se
  • M&A Terms

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