Rinri Therapeutics, a Sheffield, England, UK-based biotechnology company developing a novel stem cell therapy to restore hearing, raised a total of £10m in funding.
Backers included existing investors Boehringer Ingelheim Venture Fund (BIVF), UCB Ventures and BioCity alongside the UK Government Future Fund.
The proceeds will support the development of the company’s novel stem cell therapy to reverse sensorineural hearing loss (SNHL).
Led by Dr Simon Chandler, CEO, Rinri Therapeutics is a private biotechnology company developing advanced stem cell-based therapeutics to restore hearing. The company’s technology seeks to reverse sensorineural hearing loss (SNHL) through the repair of the damaged cytoarchitecture in the inner ear. There are currently no pharmacological treatment options for SNHL patients.
The technology is based on innovative research into auditory stem cells led by Professor Marcelo Rivolta at the University of Sheffield from where the company was spun out.