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Redpin Therapeutics secures $15.5 million in Series A round of financing led by 4BIO Capital
Fremont, CA: The pioneer in chemogenetics, Redpin Therapeutics, mainly focuses on developing a uniquely controllable gene therapy to target intractable diseases of the nervous system raised $15.5 million in Series A round of financing.
The Series A funding round led by 4BIO Capital, a venture capital firm focused solely on investments in advanced therapies sector, and Arkin Bio Ventures, the investment arm of Arkin Holdings, whose specialty is pharmaceutical and biotechnology innovations that present imminent breakthrough potential, and joined by new investor Takeda ventures Inc., the corporate venture arm of the eponymous company and existing investors from Arkin's seed round, New York Ventures, and Alexandria Venture Investments.
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The proceeds collected from the funding round will enable Redpin to extend and progress the development of its groundbreaking ultra-potent ion channel-based chemogenetics platform to treat disorders associated to neural circuit dysfunction such as epilepsy, neuropathic pain, and Parkinson's disease.
The treatment for these diseases and disorders at present ideally involves the application of systemic drugs to solve the local neuron dysfunction and can have little to no efficacy due to adverse, off-target side effects.
Redpin's validated approach leverages ion channels as neuromodulation tools to choose to activate or silence disease-causing neurons to regulate only on dysfunctional neurons, all while leaving alone those that function as they usually do.
Redpin's methodology is designed only to be activated in the presence of varenicline (CHANTIX®), the FDA approved anti-smoking agent. This novel therapy approach could allow for highly targeted treatments without the side effects associated with current therapies. The strategy received a substantial amount of attention in the research community and has been validated by two publications in Science.
The platform is derived from several years of research pioneered by Redpin's founders comprising off world-leading scientists, Dr. Scott Sternson (Howard Hughes Medical Institute) and Professor Jeffrey M. Friedman MD Ph.D. (Rockefeller University), a recipient of the prestigious Lasker and Breakthrough awards.
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