Cancer therapeutics company ProNAi could raise $12 million

The DNA-driven cancer biopharmaceutical company ProNAI Therapeutics has raised nearly $1.7 million and could be on its way to a $12 million fund-raise, according to regulatory filings.

ProNAi, based in Kalamazoo, Michigan, uses DNA gene silencing to attack a gene that helps tumor cells survive. In September, the company launched a Phase I study on its treatment PNT2258, which will run through next year. The funding is likely to pay for this trial and others. ProNAi Chief Operating Officer Robert Forgey said in September the company had raised nearly $1 million to pay for the trial.

The company, which started in 2004, has raised about $17 million so far through Apjohn Ventures and Sigvion Capital, among others.