On November 29, 2022 Rgenta Therapeutics Inc. reported that it closed a $52 million Series A round led by AZ-CICC Healthcare Investment Fund with participation from all existing investors and new investors including Korean Investment Partners, Delos Capital (Press release, Rgenta Therapeutics, DEC 1, 2022, View Source [SID1234624673]). Rgenta Therapeutics is focusing on developing RNA-targeting medicines for historically undruggable disease targets.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
The investment is a significant step forward for Rgenta, which has an integrative discovery platform that analyzes massive amounts of human genomics data to identify regulatory sites in RNAs amenable for selective modulation by small molecules, and then rapidly screen for drug-like small molecules to target RNAs and thereby regulate protein production or alter protein functions. The company plans to use the $52M new raise to speed up the development of the lead programs, enhance target discovery, extend platform capabilities, and advance a pipeline of exciting RNA-targeting programs against a range of disease indications.
Rgenta Therapeutics Raises $52M in Series A Financing
"We are pleased to welcome our new investors and we are grateful to our existing investors for their continued support," said Simon Xi, co-founder and CEO of Rgenta. "We have made significant progress and with this financing we are now well placed to establish an exciting pipeline and move our current programs into the clinic and develop innovative RNA targeting therapies to benefit patients."
Rgenta was seeded by a strong syndicate of lead investors including Boehringer Ingelheim Venture Fund, Matrix Partners China, Lilly Asia Venture and Vivo Capital. The addition of AZ-CICC Healthcare Investment Fund and the new Series A investors further expand Rgenta’s strong investor base and enables further development for the company’s oncology and neurology programs.
"We have been very interested in the RNA-targeting field for quite a while and are very impressed with the unique capabilities Rgenta has built over the last few years to discover and develop RNA-targeting small molecules and the progress they have made on the lead programs", said Chen Bing, Managing Director of AZ-CICC Healthcare Investment Fund, Vice President of AstraZeneca China and Head of Business Development, "Rgenta is well-positioned to unlock the therapeutic potentials of targeting RNA and RNA regulations."