Rigontec, a Bonn, Germany-based developer of RIG-I targeting RNA therapeutics, secured €15m in the third and final closing of its Series A round.
Backers included Boehringer Ingelheim Venture Fund, Forbion Capital Partners, High-Tech Gründerfonds (HTGF), NRW.BANK, MP Healthcare Venture Management, Sunstone Capital and Wellington Partners Life Sciences.
The company intends to use the funds to advance the ongoing development of its RIG-I agonist platform targeting oncological, anti-infective and inflammatory indications as well as to accelerate the progress of lead candidate RGT100 towards the clinic.
Led by Christian Schetter, CEO, Rigontec is advancing RIG-I targeting RNA therapeutics which pioneer a novel immuno-oncology treatment approach. Its proprietary agonists specifically activate RIG-I, inducing both immediate and long-term anti-tumor immunity and have proven substantial local and systemic tumor regression in several relevant in vivo models.
In addition to malignant diseases, the company’s bifunctional RNA molecules can be developed for the treatment of infectious and inflammatory diseases.
Separately, Rigontec announced the incorporation of a US entity in Cambridge, Massachusetts, initially as part of the German Accelerator Life Sciences (GALS) program, an initiative supported by the German Federal Ministry for Economic Affairs and Energy (BMWi) that helps German life science companies enter the US market.