RheumaGen has announced a successful $15 million Series A funding round, co-led by SPRIM Global Investments and William Taylor Nominees. This investment will primarily support the advancement of RheumaGen's lead candidate, RG0401, into a Phase I clinical trial for patients with treatment-resistant or refractory rheumatoid arthritis (RA). The trial is slated to begin next year, following the completion of investigational new drug (IND)-enabling studies.
Novel Approach to RA Treatment
RG0401 represents a novel approach to treating RA by targeting the human leukocyte antigen (HLA) genes. The therapy is designed to edit the DNA markers of these genes, effectively transforming a patient's HLA molecules to resemble those found in individuals with natural resistance to RA. This innovative cell and gene therapy (CGT) aims to modify harmful HLA alleles into healthy ones, thereby preventing T cells from initiating chronic autoimmune responses. By intervening at this fundamental level, RG0401 has the potential to halt the progression of cell and tissue degradation, addressing the underlying disease process itself.
Leadership Perspective
Richard Freed, CEO and co-founder of RheumaGen, emphasized the company's commitment to providing meaningful relief for individuals suffering from autoimmune diseases. "We founded RheumaGen to relieve the burden that individuals suffering from autoimmune diseases have carried for so long. We are not interested in incremental improvements," Freed stated. He further added that the funding would enable the company to advance its clinical programs and move closer to fulfilling its vision of curing patients with autoimmune diseases.
Investor Confidence
Tassos Konstantinou, Managing Director of SPRIM Global Investments Life Sciences, expressed confidence in RheumaGen's future growth, citing the company's promising CGT technology and the extensive immunology, histocompatibility, and clinical expertise within the team. "We are thrilled to have co-led this financing alongside this strong group of experienced investors," Konstantinou said, adding that they look forward to supporting the company as they advance their pipeline.
