Renovion Raises USD 8.1 Million in Series A Round of Financing

By StartUp City | Tuesday, June 30, 2020

The company was granted orphan status designation for a lung transplant and CF. A Phase 2/3 pivotal trial in lung transplant is scheduled to start in early 2021, followed by clinical programs in CF and non-CF bronchiectasis

Fremont, CA: Biopharmaceutical company looking to transform the treatment of chronic inflammatory lung diseases, Renovion, secured USD 8.1 million in a Series A funding round led by White Rock Capital Management, Dallas, TX. Renovion will use the proceeds to fund the development and clinical programs associated with their lead therapeutic candidate ARINA-1, a nebulized therapy developed to improve mucus clearance and decrease inflammation in patients diagnosed with chronic lung disease. As part of the investment round, Renovion has added Tom Barton, Managing Partner of White Rock Capital, and Jon Civitarese, Managing Director of SVB Leerink, to its board of directors.

"Patient and laboratory studies have shown that ARINA-1 significantly improves mucus clearance while reducing inflammation. There are limited options available, and we see a great opportunity to help these patients," said Dan Copeland, Chief Executive Officer at Renovion. "This funding will be instrumental in progressing our clinical programs in patients suffering from chronic lung diseases, including patients with a lung transplant, cystic fibrosis (CF), and non-CF bronchiectasis." Top 15 AgTech Startups - 2020

The company was granted orphan status designation for a lung transplant and CF. A Phase 2/3 pivotal trial in lung transplant is scheduled to start in early 2021, followed by clinical programs in CF and non-CF bronchiectasis. The cycle of mucus and inflammation in all these diseases leads to high hospitalization and mortality rates. From patient data, a strong safety profile and significant mucus clearance have become visible after the initiation of ARINA-1. The dose is administered via an investigational eFlow® nebulizer (PARI Pharma GmbH) developed to deliver the optimal dose to the airway.

"My lab has worked extensively with ARINA-1 to determine how the drug affects CF mucus and mucus transport. CF mucus is severely problematic, and ARINA-1 strongly augments mucus transport in CF cells that are defective for this trait," states Steven Rowe, MD, MSPH, and Director of the Gregory Fleming James Cystic Fibrosis Research Center at the University of Alabama Birmingham. "Based on our studies demonstrating that ARINA-1 is substantially more effective than hypertonic saline for mucus clearance in CF cells, the potential for ARINA-1 to help people with CF improve clinically is promising. Importantly, CF mucus is emblematic of difficult to treat mucus in other airway diseases. As ARINA-1's mechanism is multi-faceted, it also has the potential to help in other diseases."

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