CAMBRIDGE, Mass., May 25, 2021 /PRNewswire/ -- Rgenta Therapeutics announced today that it closed an $18 million seed extension round and welcomed Lilly Asia Ventures (LAV) and Vivo Capital as new investors to the syndicate. Rgenta Therapeutics is focusing on developing RNA-targeting medicines for historically undruggable disease targets.
"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," said Hongbo Lu, Managing Partner at Vivo Capital. "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.
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).
"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," said Judith Li, a partner at LAV.
"We are thrilled to welcome LAV and Vivo, two leading healthcare investors, to the syndicate," said Simon Xi, co-founder and CEO of Rgenta. "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."
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 Lilly Asia Ventures
Lilly Asia Ventures (LAV) is a leading biomedical venture capital firm founded in 2008, with offices in Shanghai, Hong Kong, and Palo Alto. Our vision is to become the trusted partner for exceptional entrepreneurs seeking smart capital and to build great companies developing breakthrough products that treat diseases and improve human health.
About Vivo Capital
Founded in 1996, Vivo Capital is a leading global healthcare investment firm with a diverse, multi-fund investment platform in venture capital, growth equity, buyout, and public equities. The Firm has approximately $5.8 billion in assets under management and has invested in over 290 public and private companies worldwide. Headquartered in Palo Alto, California, the Vivo team consists of more than 50 multi-disciplinary professionals. Vivo invests broadly in healthcare across all fund strategies, including biotechnology, pharmaceuticals, medical devices, and healthcare services, with a focus on the largest healthcare markets globally.