Rgenta Therapeutics Raises $52M in Series A Financing
Financing
CAMBRIDGE, Mass., Nov. 29, 2022 /PRNewswire/ -- Rgenta Therapeutics Inc. announced today 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. Rgenta Therapeutics is focusing on developing RNA-targeting medicines for historically undruggable disease targets.
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.
"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."
About Rgenta Therapeutics
Rgenta Therapeutics is developing a pipeline of oral, small-molecule RNA-targeting medicines with an initial focus on oncology and neurological disorders. Our proprietary platform mines the massive genomics data to identify targetable RNA processing events and design small-molecule glues to modulate the interactions among the spliceosome, regulatory proteins, and RNAs. Our lead programs and unique approach are unlocking the therapeutic potential of historically undruggable targets in human diseases. Learn more at http://www.rgentatx.com
About AZ-CICC Healthcare Investment Fund
AZ-CICC Healthcare Investment Fund (AZ-CICC Fund) is a private equity fund jointly initiated by AstraZeneca and CICC Capital (China International Capital Corporation), focusing on investment in the medical and healthcare industry. Integrating AstraZeneca's global healthcare industrial advantages and CICC Capital's rich capital operation experience, the fund focuses on the investment fields such as Medicine and biotechnology, Diagnostic techniques, Medical devices as well as Digital health and service.
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