Rinri Therapeutics, a Sheffield, England, UK-based biotechnology company developing a novel cell-based therapy to restore hearing, secured £1.4m in seed funding.
The round was co-led by Boehringer Ingelheim Venture Fund and UCB Ventures and joined by BioCity. In conjunction with the financing, Detlev Mennerich, PhD, Investment Director at Boehringer Ingelheim Venture Fund; Erica Whittaker, PhD, Head of UCB Ventures; and Claire Brown, PhD, Investment Director at BioCity have joined Rinri’s Board of Directors.
The company intends to use the funds for ongoing growth.
Founded in late-2018 and led by CEO Dr Simon Chandler, Rinri Therapeutics is a private biotechnology company developing advanced stem cell-based therapeutics to restore hearing. The company’s technology seeks to reverse neuropathic sensorineural hearing loss (SNHL) through the repair of the damaged cytoarchitecture in the inner ear.
A spin out of Sheffield University, Rinri is based on the work of Professor Marcelo Rivolta (Chen et al. (2012) Nature, 490: 278-84), a recognized world leader in the field of sensory stem cell biology. Its underlying technology, based on innovative stem cell research, seeks to reverse neuropathic sensorineural hearing loss (SNHL) through the repair of the damaged cytoarchitecture in the inner ear.