Regulus raises $20M

Regulus Therapeutics, which was formed in 2007 by Alnylam Pharmaceuticals and Isis Pharmaceuticals, has raised $20.0 million in a  series A preferred equity financing that further strengthens its balance  sheet. Alnylam and Isis were the sole and equal investors in the  funding. Regulus focuses on the discovery, development and  commercialization of microRNA-based therapeutics.

"We are very pleased to further strengthen our balance sheet in the  current difficult financial environment. This equity financing, when  combined with last year's significant upfront payment made by  GlaxoSmithKline as part of our partnership, gives Regulus cash that we  expect will last at least through 2011," said Kleanthis Xanthopoulos,  chief executive.

"We have made significant scientific and business progress in a very  short time, due in part to the support and expertise of Alnylam and  Isis. We believe that Regulus remains at the very center of discovery  and development of drugs targeting microRNAs, an entirely new frontier  of pharmaceutical research leading to innovative medicines. Most  recently, we demonstrated for the first time ever in vivo therapeutic  efficacy by targeting a microRNA, miR-21, in an animal model of human  cardiac disease. Moreover, the continued expansion of our R&D programs  highlights the breadth of opportunity for microRNA-based therapeutics,"  he added.