Rgenix, Inc. which is a New York-based clinical stage biopharmaceutical company developing small molecule and antibody cancer therapeutics, today in a report has announced that they have raised an amount of $40m in the funding round of Series C.
The round was led by Lepu Medical, a publicly traded global healthcare firm, and includes Oceanpine Capital and WuXi AppTec’s Corporate Venture Fund, as well as existing investors Novo Holdings A/S, Sofinnova Partners, Alexandria Venture Investments, LLC, and the Partnership Fund for New York City’s Innovate NY Fund and associated entities.
The company as of now has a plans to use the funds for further development of its clinical and pre-clinical oncology programs and for general corporate purposes.
The financing will support Phase 1b/2 clinical trials of the lead program RGX-104 in multiple cancer indications, including in checkpoint inhibitor refractory patients. It will also support early clinical development of RGX-202, a cancer metabolism program, as well as discovery stage programs arising from the Rgenix target discovery platform.
“Lepu Medical is very pleased to make this investment in Rgenix. We truly appreciate Rgenix’s unique RNA target discovery approach in identifying various first-in-class cancer targets. We also believe RGX-104 has great potential with checkpoint inhibitors across many important cancer types,” said Dr. Zhongjie Pu, PhD, Chairman and CEO of Lepu Medical. “As Lepu Medical has PD-1, PD-L1 checkpoint inhibitors and an oncolytic virus in clinical trials, we also look forward to exploring possible collaborative opportunities with Rgenix as part of our goal to develop further in the oncology market together.”
“The addition of new investors to our already strong investor base is a testament to the power of our approach to develop first-in-class cancer therapeutics using the innovative Rgenix RNA target discovery platform to identify novel cancer targets,” said Masoud Tavazoie, MD, PhD, and Chief Executive Officer and co-founder of Rgenix. “We are delighted to have the support of these investors and to know that they share our excitement for the work we are doing to develop these new therapies for patients who suffer from cancers of high unmet need.”
The company which is founded and led by Masoud Tavazoie, MD, PhD, and Chief Executive Officer and co-founder, Rgenix is pursuing several first-in-class drug candidates to treat cancers of high unmet need. The company identifies novel cancer targets using a microRNA based target discovery platform originally developed by its scientific co-founders at The Rockefeller University and now exclusively licensed to Rgenix.
It is advancing:
You may also like: