Shanghai-based RNA company raises $35 million: Rona Therapeutics’ Series A+ round was led by LongRiver Investments. Investors include Lilly Asia Ventures, among others. The company is developing RNA silencing drugs for cardiometabolic diseases, including a cholesterol-lowering RNA silencer that targets PCSK9 — similar to Novartis’ Leqvio. That candidate recently completed Phase 1 studies in people with elevated cholesterol in Australia and China. Back in 2022, Rona raised a $33 million Series A that Lilly Asia Ventures also participated in. The company is led by Stella Shi, previously managing director at Lilly Asia Ventures. — Lei Lei Wu
Actuate shrinks IPO plans: The cancer biotech is now seeking about $22 million in proceeds from a Nasdaq debut versus prior plans for about $45 million. Actuate now plans to market 2.77 million shares $ACTU between $8 and $10 apiece. — Kyle LaHucik