Rgenta Therapeutics closes $18m seed extension round

Rgenta Therapeutics closes $18m seed extension round

Published: 28-05-2021 14:39:00 | By: Pie Kamau | hits: 1482 | Tags:

Rgenta Therapeutics announced it closed a $18 million seed extension round and welcomed Lilly Asia Venture (LAV) and Vivo Capital as new investors to the syndicate. Rgenta Therapeutics is focusing on developing RNA-targeting medicines for historically undruggable disease targets.

Hongbo Lu, Managing Partner, Vivo Capital: "Small molecules targeting RNA regulation are an exciting new approach that can potentially unlock the therapeutic potentials of disease-causing genes that are undruggable at the protein level. We believe Rgenta has assembled a winning team to realize the potential of this novel modality."

BIVF, Matrix Capitals co-led the initial seed round with other early investors in 2020. With LAV and Vivo's participation and the additional contribution from Kaitai, the company has now raised $38 million, to pursue small molecules against a range of RNA targets for oncology and neurological diseases. The new funding will help accelerate Rgenta's pipeline toward clinical development and bring additional programs into Rgenta's pipeline.

Simon Xi, Co-founder and CEO, Rgenta: "We are thrilled to welcome LAV and Vivo, two leading healthcare investors, to the syndicate. Both companies have a strong track record in funding ground-breaking science and supporting early-stage companies to develop innovative therapies. We look forward to working with the LAV and Vivo teams as we advance our therapeutic programs into the clinic and bring innovative therapies to benefit patients."

The board of directors will now include Judith Li (LAV), Hongbo Lu (Vivo) in addition to Martin Heidecker (BIVF), Roger Sun (Matrix), Zhiping Weng (Founder), Simon Xi (CEO) and Debasish Roychowdhury (Independent Chairman).

Judith Li, Partner, LAV: "We are very impressed with Rgenta's unique target and lead discovery platform and expertise in developing RNA-targeting small molecules and the progress the Rgenta team has made in advancing their programs."