Rediscovery Life Sciences, LLC (RLS), a Raleigh, N.C.-based clinical-stage biotechnology company, closed a $4.5m Series B financing.
The round was co-led by REX Health Ventures (the investment arm of UNC REX Healthcare) and Orlando Health Ventures.
The funding will support Phase 2 clinical trial of suramin for treatment of Acute Kidney Injury.
The company intends to use the funds to expand a Phase 2 trial of suramin in diuretic resistant Acute Kidney Injury (AKI). In conjunction with the funding, Anita Watkins, JD, Director of REX Health Ventures, and Dr. Sunil Desai, President of the Orlando Health Medical Group, joined RLS’s Board of Directors.
RLS is focused on rapid and cost-effective development of new treatments by identifying and repurposing existing drugs with strong safety profiles. The company is developing suramin for the treatment of diuretic resistant AKI and will be initiating a Phase 2 clinical trial early in the fourth quarter. Numerous research and clinical studies have confirmed the safety of suramin, which is currently approved outside of the United States as a tropical disease treatment. Animal studies show that suramin improves outcomes in AKI by blocking inflammation, blocking cell death and stimulating reparative processes.