Ribometrix, a biotechnology company developing small molecule therapeutics that directly target RNA to treat human diseases, announced Tuesday that it has raised $30 million in series A funding.

The Durham-based company plans to use the money to advance its discovery platform and internal pipeline of novel small molecule drugs that regulate RNA activity, as well as expand its team and business development activity.

“A huge medical opportunity awaits RNA-targeting small molecules that can be designed in a systematic fashion, analogous to discovery methods currently employed for protein targets,” said Ribometrix CEO Micheal Soloman in a statement. “We welcome the strong support of both new and existing leading venture investors as we pursue this exciting opportunity.”

Ribometrix’s discovery pipeline focuses on targeting RNA molecules that fold into complex 3D structures creating pockets responsive to small molecules with high selectivity and favorable drug-like characteristics.

UNC-Chapel Hill graduate Kevin Weeks co-founded the Ribometrix platform that provides a unique and comprehensive analysis of small molecule-RNA interactions.

The series A funding was led by Germany-based M Ventures with the participation of new investors Amgen Ventures, Pappas Capital and Illumina Ventures. Six additional founding investors also joined in on the funding.

Hakan Goker, the senior investment director at M Ventures, will join the company’s board as a non-executive director.

Soloman has more than twenty years of experience in the biotechnology industry, with the last 14 focused on creating and operating early stage therapeutic-focused companies.

Most recently he worked at Decibel Therapeutics, a biotechnology company focused on broadly treating hearing disorders. As CEO of Decibel, he led a team that created its business plan resulting in a $52 million Series A round.

The company also raised $7.5 million in October 2017 through seed funding.