NORFOLK, Va.--(BUSINESS WIRE)--ReAlta Life Sciences, Inc., today announced that the Company has successfully closed a Series A3 financing of $20 million. The financing was led by Marathon Pharma, with support from existing Series A investors and new, undisclosed investors. Funding obtained in this financing will advance multiple programs addressing ALI and HIE, including lead candidate RLS-0071, into Phase 2 clinical trials.
“The additional capital raised will support the advancement of our lead candidate, RLS-0071, into Phase 2 programs for multiple indications,” said Ulrich Thienel, M.D., Ph.D., ReAlta’s Chief Executive Officer. “This funding also allows us to bring our second compound into clinical development and leverage its unique capabilities to address new life-threatening medical needs. We appreciate our investors’ continued confidence in our platform and pipeline.”
ReAlta is advancing a new class of anti-inflammatory therapies based on its EPICC platform that leverages a billion years of evolution with a dual targeting mechanism that inhibits components of the complement cascade and cellular inflammatory processes. The Company’s lead compound RLS-0071 is in development to address hospital-based acute inflammatory conditions, including acute lung injury (ALI) and severe birth asphyxia or hypoxic ischemic encephalopathy (HIE), that could respond to the compound’s swift, powerful inhibition of complement and neutrophil recruitment and activation. ReAlta is currently conducting a Phase 1 trial in healthy volunteers for RLS-0071, as well as a separate proof of concept study to evaluate RLS-0071 as a therapy for ALI in hospitalized COVID-19 subjects. In addition, ReAlta is advancing the second compound emerging from its proprietary EPICC technology platform, RLS-0088, through IND-enabling studies later this year.
About ReAlta Life Sciences
ReAlta Life Sciences, Inc. is a clinical stage biotech company dedicated to harnessing the power of the immune system through its EPICC technology platform, comprised of a family of over 160 engineered peptides, to address life-threatening medical needs. The peptide family leverages one billion years of evolution that has enabled the human astrovirus to inhibit components of the innate immune system. This novel class of therapeutics exploits the virus’ dual targeting approach and enables the rebalancing of complement and inflammatory processes in the body. The company’s pipeline is led by RLS-0071, which has been granted Orphan Drug Designation by the U.S. Food and Drug Administration and European Medicines Agency for the treatment of hypoxic-ischemic encephalopathy (HIE) in neonates. The company launched in 2018, and is located in Norfolk, Virginia. For more information, please visit www.realtalifesciences.com.