ReAlta Life Sciences announced that it has successfully closed an oversubscribed Series A2 financing of $14 million, bringing the total Series A financing to $26 million. The financings were led by Children’s Research Holdings and Marathon Pharma, as well as additional undisclosed investors. ReAlta will use the funds to advance its lead program toward the clinic, as well explore its use in other inflammatory disorders.
ReAlta is developing a new class of therapies based on its proprietary PIC1 technology platform, comprised of a family of more than 160 engineered peptides. These therapies have a dual targeting approach designed to rebalance complement and inflammatory processes in the body. The company’s novel pipeline is led by RLS-0071 (PIC1-dPEG24), which is being developed for the treatment of hypoxic ischemic encephalopathy (HIE), a severe birth complication affecting newborns resulting from oxygen deprivation to the brain. HIE leads to significant brain injury and tissue destruction. ReAlta also intends to explore the therapeutic potential of RLS-0071 for other inflammatory disorders, including acute lung injury, a disorder characterized by severe and quickly progressing lung damage caused by an inflammatory response, such as due to COVID-19 infection.
RLS-0071 has been granted Orphan Drug Designation by the U.S. Food and Drug Administration for the treatment of hypoxic-ischemic encephalopathy in neonates.