Regenacy Pharmaceuticals, a Waltham, Mass.-based clinical-stage biopharmaceutical company developing breakthrough treatments for diabetic and other peripheral neuropathies, closed a $30m Series A financing.
The round was co-led by Cobro Ventures and Taiwania Capital Management Corporation, with participation from 3E Bioventures Capital, Yonjin Capital, VIVA Biotech Holdings, TA YA VENTURE HOLDINGS LIMITED, and other undisclosed private investors. As part of the financing, Michael Huang, Managing Partner at Taiwania Capital Management, Frank Yan, Ph.D., Operating Partner at 3E Bioventures Capital, and Daguang Wang, Ph.D., Managing Director of Yonjin Venture LLC, have joined Regenacy’s Board of Directors.
The company plans to use the proceeds to initiate a Phase 2 proof-of-concept trial for ricolinostat, an oral, selective histone deacetylase 6 (HDAC6) inhibitor, in diabetic peripheral neuropathy (DPN). In prior Phase 1 and 2 clinical studies, ricolinostat has demonstrated an excellent safety and tolerability profile. Ricolinostat will also be evaluated as a potential treatment for chemotherapy-induced peripheral neuropathy (CIPN) and Charcot-Marie-Tooth disease (CMT) Type 2.
Led by Simon Jones, Ph.D., President and Chief Executive Officer, Regenacy Pharmaceuticals is a clinical-stage biopharmaceutical company regenerating biological function by protein acetylation for the treatment of diabetic and other peripheral neuropathies and other chronic conditions. Regenacy selectively inhibits histone deacetylase 6 (HDAC6) to restore normal intracellular protein and organelle transport in peripheral neuropathies, and also has a portfolio of selective HDACs 1 and 2 inhibitors that have potential to treat major blood diseases such as leukemia, sickle cell disease, β-thalassemia, and cognitive dysfunction in neurological disorders.