Rgenix, a NYC-based cancer therapeutics company developing drugs targeting novel cancer pathways, raised $33m in Series B financing.
The round was led by Novo A/S and Sofinnova Partners, with participation from existing investors including Partnership Fund for New York City, Alexandria Venture Investments, and Conegliano Ventures LP. In connection with the financing, Nilesh Kumar of Novo Ventures and Antoine Papiernik of Sofinnova Partners will join the Rgenix Board of Directors.
The company intends to use the funds for clinical development of its lead drug candidates, RGX-104 and RGX-202, as well as further development of its therapeutics pipeline.
Led by Chief Executive Officer and co-founder Masoud Tavazoie, M.D. Ph.D., Rgenix focuses on the discovery and development of novel cancer drugs that target key pathways in cancer progression. Using a miRNA based target discovery platform developed by its scientific co-founders at The Rockefeller University, the company is developing RGX-104, a small molecule that reverses immune evasion and drug resistance by targeting immunosuppressive cells in the tumor microenvironment via a novel pathway, resulting in anti-tumor activity in several drug-resistant cancer types in pre-clinical models, both as a single agent and in combination with approved immunotherapies such as PD-1 inhibitors.