New results, possible funding for Miragen Therapeutics

BOULDER — Miragen Therapeutics Inc. has released new information about its clinical trials in humans, as well as opened up a possibility for more funding.

At its presentation on Thursday to the Society for Investigative Dermatology, Miragen shared that volunteers are generally responding well to its MRG-201, a product that is supposed to mimic microRNA-29, which in turn should decrease certain genes involved in scar formation.

As of mid-March, 54 volunteers have participated in the double-blind placebo-controlled study, which involves testing MRG-201 in skin incisions.

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So far, results have shown that patients who have received MRG-201 have reduced fibroplasia, a marker of skin formation.

Miragen scientists are calling preliminary results encouraging for the use of MRG-201 in scar formation.

The presentation is one of several Miragen is making. In May, the company will participate in two more investor conferences, the Deutsche Bank 42nd Annual Health Care Conference on May 3 and the UBS Global Healthcare Conference on May 22.

The Boulder-based bioscience company also recently announced a prospectus with Cowen & Company LLC. That prospectus would allow the investment banking firm to sell up to $50 million of new stock to interested buyers. While it is not yet determined if that new stock sale will actually happen — there’s a three-year window to decide — it would be a way to generate capital for Miragen as needed, without needing to go through new financing.