ReAlta Life Sciences, Inc., a Norfolk, Va.-based biotech company, closed a Series A2 financing of $14m, bringing the total Series A financing to $26m.
The round was led by Children’s Research Holdings and Marathon Pharma, as well as additional undisclosed investors.
Led by Ulrich Thienel, M.D., Ph.D., Chief Executive Officer, ReAlta Life Sciences is a biotech company dedicated to harnessing the power of the immune system through its PIC1 technology platform to address life-threatening medical needs. It is advancing a new class of therapies based on its proprietary PIC1 technology platform, comprised of a family of more than 160 engineered peptides.
The company’s novel pipeline is led by RLS-0071, which is being developed for the treatment of hypoxic ischemic encephalopathy (HIE), a severe birth complication affecting newborns resulting from oxygen deprivation to the brain. HIE leads to significant brain injury and tissue destruction. In addition, ReAlta plans to explore the therapeutic potential of RLS-0071 for other inflammatory disorders, such as acute lung injury, a disorder characterized by severe and quickly progressing lung damage caused by an inflammatory response, such as due to COVID-19 infection.
The additional capital raised will support the advancement of the company’s lead program of HIE toward the clinic, as well as its utilization in other inflammatory disorders.
ReAlta is finalizing IND-enabling activities for RLS-0071 and expects to initiate clinical development in 2020.