AIM-listed biotechnology company Thalia Therapeutics has announced the acquisition of US-based oncology firm Sanmirna Therapeutics alongside an oversubscribed £2.75m fundraise.
The deal will see Thalia acquire Sanmirna for an initial consideration of just under £4m, with deferred milestone payments potentially adding up to a further £13m.
The acquisition pivots Thalia from a drug delivery firm into a clinical-stage RNA therapeutics developer and adds Sanmirna’s lead candidate, miRisten, to Thalia’s pipeline.
To finance the expansion, Thalia raised £2.75m through a share placing and subscription completed at a premium to its 23 June closing price. The fundraise was supported by institutional investors, including Premier Miton, alongside a £1.1m subscription from Thalia’s own directors.
The company said that the capital injection will extend its operational runway through to mid-2027 and will help fund the completion of miRisten’s Phase 1 clinical trial, with top-line data anticipated in the first half of 2027.
“The Sanmirna acquisition is value accretive for Thalia shareholders, as it transforms Thalia into a clinical-stage company developing a promising novel therapeutic approach to treat AML, a disease with high unmet medical need,” said Dr David Solomon, chief executive of Thalia.
“The board believes that this acquisition and fundraise create a materially stronger, more diversified business with enhanced prospects for short, medium, and long-term shareholder value creation.”
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