BRIEF—NapaJen raises funding for NJA-730 development

US biotherapeutics company NapaJen Pharma has announced the closing of a $12.4 million Series C financing deal.

The financing was led by the existing investor, INCJ Ltd, and included participation by existing investor Mitsui & Co. Global Investment and newly participating P&E Directions Inc.

The funding will be used to complete the Phase I clinical development of NJA-730 started in the fall of 2018 in Australia and prepare for further development.

NJA-730 is a novel immunosuppressive therapeutic agent that combines an anti-CD40 small interfering RNA (siRNA) with the company's beta-glucan delivery technology.

The primary objective of the study is to evaluate the safety and tolerability of NJA-730 administered intravenously.

Key secondary objectives will include an assessment of the pharmacokinetic profile of the compound.

Investigators will also evaluate the impact of NJA-730 on CD40 gene suppression.