4BIO Capital leads Redpin Therapeutics’ $15.5 million Series A
LONDON & BOSTON – 4BIO Capital (“4BIO” or “the Group”), an international venture capital firm focused solely on the advanced therapies sector, announces its investment in Redpin Therapeutics, Inc., a pioneering chemogenetics company developing drug-controlled gene therapies to address intractable diseases of the nervous system. The round was led by 4BIO Capital and Arkin Bio Ventures, and joined by new investor Takeda Venture Investments, as well as existing investors from the seed round, New York Ventures and Alexandria Venture Investments.
The proceeds will enable Redpin to further progress the development of its groundbreaking ultra-potent ion channel based chemogenetics platform to address disorders associated with neural circuit dysfunction including epilepsy, neuropathic pain and Parkinson’s disease.
Current treatment of these diseases and disorders typically involve the use of systemic drugs to address local neuron dysfunction and can have limited efficacy due to adverse, off-target side effects. Redpin’s validated approach leverages ion channels as neuromodulation tools to selectively either activate or silence disease-causing neurons to regulate only dysfunctional neurons, while leaving normal functioning cells alone. Redpin’s approach is designed to only be activated in the presence of varenicline (CHANTIX®) the FDA approved anti-smoking agent. This novel therapy approach could allow for highly targeted treatments without the side effects associated with current therapies. The approach has received a significant amount of attention in the research community and has been validated by two publications in Science.
Dmitry ‘Dima’ Kuzmin, Managing Partner at 4BIO Capital will join Redpin’s Board of Directors as a Non-Executive Director.
Dmitry Kuzmin, Managing Partner at 4BIO Capital, said: “Our goal is to support and grow advanced therapy companies with the potential to cure chronic disease. Redpin has a highly compelling, validated chemogenetics approach that could have significant potential in the targeted treatment of neuropathic disorders. The strength of Redpin’s science alongside the world-class knowledge and expertise of the Company’s founders and management team make us fully confident in the future success of the Company towards this goal.”
Commenting on the successful fundraise, Elma Hawkins, Ph.D., M.B.A., President and CEO of Redpin and a co-founder of the company said: “These new funds combined with the support and expertise of our new and existing investors will allow Redpin to swiftly progress to the next phase of its development in bringing highly targeted treatments to patients with neurological and psychiatric disorders.”
Michael Martin, Head of Takeda Venture Investments, said: “Investing in early-stage companies like Redpin, who are advancing novel technologies with the potential to provide transformational benefits to patients, is a key component of Takeda’s partnering strategy. Redpin’s chemogenetic platform could one day deliver targeted treatments for neurological diseases, an area closely aligned with Takeda’s research and development expertise.”