Ireland-headquartered drugmaker Shire Pharmaceuticals has sold its messenger RNA (mRNA) therapy platform MRT to US firm RaNA Therapeutics. Financial details were not revealed, but Shire will retain an undisclosed stake in the privately held company and will also receive future milestones and royalties on products developed with the technology.

As part of the deal, Shire’s former MRT employees, who have developed the technology since 2008, have joined RaNA to continue to advance the platform with lead late-stage preclinical programs for cystic fibrosis (CF) and urea cycle disorders (UCD).

“This acquisition results in the most comprehensive RNA-based therapeutic approach in the industry and significantly expands RaNA’s ability to correct a wide range of disease genotypes regardless of mutation and access new targets not currently addressable by existing modalities,” commented Ron Renaud, CEO of RaNA Therapeutics.

Renaud told US newspaper Boston Business Journal that the Cambridge, Massachusetts-based company plans to advance the CF and UCD programs into clinical phases within 12 to 18 months.

RaNA completed a $55 million series B financing in July 2015, the proceeds of which are aimed at bolstering its proprietary platforms focused on epigenetic gene upregulation and mRNA stabilization, including investments in chemistry and oligonucleotide synthesis capabilities.

In addition, the funds are supporting preclinical efforts towards lead optimization and IND (investigational new drug)-enabling studies for RaNA’s priority programs focused on treading spinal muscular atrophy and Friedreich’s ataxia. RaNA anticipates having up to two novel therapies in the clinic this year.