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The company intends to use the newly raised capital to initiate a Phase 2 proof-of-concept trial for ricolinostat, an oral, selective histone deacetylase 6 (HDAC6) inhibitor, in diabetic peripheral neuropathy (DPN)
Fremont, CA: Clinical stage biopharmaceutical company Regenacy Pharmaceuticals secured USD 30 million in a Series A round of financing led by Cobro Ventures and Taiwania Capital Management, with participation from 3E Bioventures Capital, Yonjin Capital, VIVA Biotech Holdings, TA YA VENTURE HOLDINGS LIMITED, and other undisclosed private investors. The Waltham-based company is developing breakthrough treatments for diabetic and other peripheral neuropathies.
"We are fortunate to have the strong support of investors aligned with our mission to provide lasting relief of all symptoms of diabetic peripheral neuropathy," said Simon Jones, Ph.D., Regenacy's President, and Chief Executive Officer. "Our preclinical studies demonstrate that selectively inhibiting HDAC6 has the potential to restore nerve function in multiple peripheral neuropathies safely, and we are looking forward to advancing our lead program into Phase 2 studies this year."
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[vendor_logo_first]The company intends to use the newly raised capital to initiate a Phase 2 proof-of-concept trial for ricolinostat, an oral, selective histone deacetylase 6 (HDAC6) inhibitor, in diabetic peripheral neuropathy (DPN). In its prior Phase 1 and 2 clinical studies, ricolinostat has demonstrated excellent safety and tolerability profile. Ricolinostat will also be evaluated as a potential treatment for chemotherapy-induced peripheral neuropathy (CIPN) and Charcot-Marie-Tooth disease (CMT) Type 2.
"Regenacy is diligently working on developing a therapeutic that addresses the underlying causes of peripheral neuropathy," said Marc Cohen, Regenacy's Executive Chairman and Co-Founder of Cobro Ventures. "We believe the company's HDAC6 approach has a strong potential to provide long-term improvements in pain, motor function, and sensitivity in patients with this disease." As part f the deal Michael Huang, Managing Partner at Taiwania Capital Management, Frank Yan, Ph.D., Operating Partner at 3E Bioventures Capital, and Daguang Wang, Ph.D., Managing Director of Yonjin Venture LLC, will join Regenacy's Board of Directors.
"I have had the pleasure of working with the Regenacy team on evaluating ricolinostat," said William Chin, M.D., Professor of Medicine Emeritus, Harvard Medical School, Scientific Advisory Board Member, and Board of Directors Member of Regenacy. "To me, the scientific reasoning behind HDAC6 inhibition for this indication is very clear, as it has significant potential to reverse the symptoms of and restore nerve fibers in different peripheral neuropathies by regulating neuronal microtubule function."
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