Protiva, a Vancouver, B.C.-based developer of drugs based on the new technology of RNA interference, raised $3.3 million in debenture financing. Investors included GrowthWorks Capital, BDC Capital, the Canadian Medical Discoveries Fund and Kinetic Capital.
Protiva is currently embroiled in litigation against two other biotechs, including Sirna Therapeutics, another RNAi company acquired by Merck last December, and Tekmira Pharmaceuticals.