Redpin Therapeutics, Inc., a NYC-based chemogenetics company developing controllable gene therapies to address intractable diseases of the nervous system, secured $15.5m in the initial closing of its Series A financing round.
The round was led by 4BIO Capital and Arkin Bio Ventures, with participation from new investor Takeda Ventures Inc., the corporate venture arm of Takeda Pharmaceutical Company, Ltd., and existing investors from the seed round, New York Ventures and Alexandria Venture Investments. In conjunction with the funding. Dmitry ‘Dima’ Kuzmin, Managing Partner at 4BIO Capital, will join Redpin’s Board of Directors as a Non-Executive Director.
The company intends to use the funds to further progress the development of its ultra-potent ion channel based chemogenetics platform to address disorders associated with neural circuit dysfunction including epilepsy, neuropathic pain and Parkinson’s disease.
Redpin Therapeutics is a preclinical stage gene therapy company developing a proprietary chemogenetics platform for targeted cell therapies to address currently intractable diseases of the central nervous system. Its technology inverts traditional drug development by using gene therapy to target an engineered receptor to any cell type responsible for disease and modulating its function with an already-approved drug. This has the potential to deliver effective treatments for a wide range of currently intractable neurological and psychiatric diseases and disorders.
Redpin has a worldwide exclusive license from the Howard Hughes Medical Institute for the therapeutic use of this technology, and is working with urgency to apply it to advance important medicines for patients in desperate need of effective therapies. Current treatment of these diseases and disorders typically involve the use of systemic drugs to address local neuron dysfunction and can have limited efficacy due to adverse, off-target side effects.
The platform is derived from many years of research pioneered by Redpin’s founders who include Dr Scott Sternson (Howard Hughes Medical Institute) and Professor Jeffrey M. Friedman MD PhD (Rockefeller University). Product development is being led by an experienced management team including the founding CEO, Elma Hawkins PhD MBA, and David Bleakman PhD, both veterans of the biopharmaceutical industry.