NEW YORK, NY – Palladium Capital Advisors, LLC today announced that it acted as sole placement agent for PhaseRx, Inc. in its $4 million private offering of convertible debt.
PhaseRx is dedicated to developing RNA therapeutics that hold promise for treatment of orphan diseases for which few, if any, therapeutic options are available. To date, development of RNA therapeutics has been hindered by the lack of effective delivery technology. PhaseRx was founded to solve the critical challenge in RNA delivery: the need for a versatile, developable system that can be administered systemically and deliver RNA drugs into the cell where they can reach and modulate drug targets.
PhaseRx’s propriety SMARTT Polymer Technology® (SMARTT) addresses these challenges, providing a breakthrough platform for the development of novel RNA-based drugs.
SMARTT is designed to provide a robust, developable, and versatile RNA delivery system to fuel our product development pipeline and enable our pharmaceutical and biotechnology partners to take their novel molecules forward into clinical development. With a comprehensive intellectual property portfolio, an experienced management team, top-tier investor syndicate and a breakthrough RNA delivery system, PhaseRx is well positioned to advance its therapeutic RNA candidates and partner its innovative technology platform to expand future development and commercial opportunities.