PTC Therapeutics Inc., a privately held biopharmaceutical company based in South Plainfield, has received $40 million in financing to advance drug discovery efforts based on its proprietary integrated ribonucleic acid (RNA) biology and RNA chemistry programs.

Stuart Peltz, PhD, professor of molecular genetics and microbiology at UMDNJ-Robert Wood Johnson Medical School (RWJMS), is founder, president and CEO of the company. UMDNJ is a shareholder in the venture and Bill Stephenson, PhD, vice president of research, serves on PTC’s board of directors.

The company had received $15 million in first-round financing just a year ago, which enabled it to build a 30,000 square-foot facility and recruit 50 experienced managers and a scientific team that includes top-level researchers in the fields of RNA biology and chemistry. "The additional funding will support and accelerate our drug discovery projects, particularly in the areas of infectious diseases and oncology, where new therapeutic options are urgently needed," says Peltz.

PTC applies its integrated biology and chemistry proprietary drug-discovery platforms to identify small molecule drugs. RNAs, like proteins, have unique structures that allow small molecules to bind with great selectivity and specificity. PTC focuses on developing small molecule drugs that bind to a single RNA and regulate an aspect of the cell’s biology. The company currently has drug discovery programs in oncology, infectious diseases, inflammation and genetic disorders.