New Delhi, Dec 10 (PTI) Alembic Pharmaceuticals on Friday said it has made a strategic investment in RIGImmune Inc, a biopharmaceutical research company co-founded by two prominent Yale University professors.

RIGImmune, Inc is focused on the development of RNA-based therapies for viral diseases and oncology applications by targeting the innate immune target, RIG-I.

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RIGImmune will utilise the proceeds of the series seed round to further the development of therapeutic oligonucleotides developed by Anna Pyle and Akiko Iwasaki.

Alembic has acquired preferred stock in RIGImmune amounting to a 19.97 per cent post-money stake in the first closing of the series seed round that was completed recently.

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"Apart from pursuing internal projects, we believe we can accelerate our efforts by making strategic investments in companies that are leaders in their field and this investment marks the beginning for us," Alembic Managing Director Pranav Amin noted.

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