ReNetX Bio, Inc., a New Haven-based private biotech company, closed a Series A funding round.
The amount of the deal was not disclosed.
The round was co-led by Spring Mountain Capital and Connecticut Innovations.
The company plans to begin clinical trials on its drug within the year.
Founded based on the innovative technology from Dr. Stephen Strittmatter’s work at Yale University to restore neurologic function after CNS injury and led by CEO Erika R. Smith, ReNetX Bio aims to provide therapeutics to treat injury and damage to the central nervous system (CNS) in conditions such as spinal cord injury (SCI), stroke, and glaucoma.
The technology allows neurons in the brain to regrow by inhibiting factors that prevent its regeneration.