NEW YORK--(BUSINESS WIRE)--Rasna Therapeutics, Inc. (OTCQB:RASP), a development stage biotechnology company focused on the development of cancer drugs, today announced that it has closed a private placement to accredited investors of an aggregate 3,366,667 shares of common stock at $0.60 per share for gross proceeds of $2.02 million. The Company intends to use the proceeds for clinical development and working capital.

About Rasna Therapeutics, Inc.

Rasna Therapeutics, Inc. is a development stage biotechnology company focused primarily on the development of drug candidates for leukemia and lymphoma. Abnormal epigenetic modification is recognized to play an important role in the pathogenesis of acute myeloid leukemia (AML), leading to silencing of genes involved in tumor suppression and cellular reproduction. Rasna’s focus on inhibition of lysine specific demethylase-1 (LSD1), an enzyme involved in epigenetic control, represents a promising and novel approach towards AML. Rasna has developed novel irreversible and reversible LSD1 regulators that have shown appropriate effects on the LSD1 gene in-vitro and in IND-enabling pre-clinical studies.