Ribometrix, a three-year-old startup focused on the use of ribonucleic acid, a nucleic acid present in all cells known as RNA, to target disease, has closed on $30 million in new funding with two Triangle venture capital firms helping fuel the round.
Hatteras Venture Partners and Pappas Capital are among the funders. Hatteras was an earlier investor. M Ventures, the investment arm of drug giant Merck, led the round. The Dementia Discovery Fund and Alexandria Venture Investments were among the other investors.
The funds will be used to further develop its discovery technology and a number of small molecule drugs that control and modify RNA, the company said.
Story by WRAL TechWire
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