RheumaGen, a company focused on developing therapies for autoimmune diseases, has announced the closure of a $15 million Series A funding round. This financial boost, led by SPRIM Global Investments and William Taylor Nominees, is earmarked for advancing the clinical development of RheumaGen's lead candidate, RG0401. The funding will specifically support a Phase I clinical trial set to begin next year, targeting treatment-resistant or refractory rheumatoid arthritis (RA).
RG0401 represents a novel approach to RA treatment, aiming to edit the DNA markers of the HLA gene. This innovative therapy seeks to transform a patient's HLA molecules to resemble those of individuals naturally resistant to RA. By modifying harmful HLA alleles into healthy ones, RG0401 intends to prevent T cells from initiating chronic autoimmune responses, thereby halting the progression of cell and tissue degradation associated with the disease.
RheumaGen's CEO and co-founder, Richard Freed, expressed the company's commitment to making significant strides in the treatment of autoimmune diseases, emphasizing the goal of curing patients rather than seeking incremental improvements. The company is currently conducting investigational new drug (IND)-enabling studies for RG0401, laying the groundwork for the upcoming clinical trial.
Tassos Konstantinou, Managing Director of SPRIM Global Investments Life Sciences, highlighted the confidence in RheumaGen's future growth, attributing it to the company's promising cell and gene therapy (CGT) technology and the extensive expertise in immunology, histocompatibility, and clinical research within the team. SPRIM looks forward to supporting RheumaGen as it progresses its pipeline towards addressing the unmet needs of patients with autoimmune diseases.
