Rewind Therapeutics extends Series A financing
With Sunstone Life Siences A/S as a new investor, Belgian remyelination specialist Rewind Therapeutics has increased its 2018 Series A funding.
The company, founded by CD3 (Leuven, Belgium) and Axxam S.p.A. (Milan), did not want to reveal the exact amount added to the €15.2m in its 2018 Series A financing and subsequent 2019 €2.9m funding to screen small molecule GPCR blockers and remyelination inducers. But with Claus Andersson, General Partner of Sunstonne Lifescience Ventures A/S, a new renowned investor has joined the board. Existing investors Boehringer Ingelheim Venture Fund, M. Ventures, PMV, Gemma Frisius Fonds, and CD3/ KU Leuven also participated in the Series A extension.
The proceeds will be used to advance Rewind Therapeutics´ not yet specified lead program into clinical development and further broaden the company´s pipeline of drug candidates designed to restore the remyelination function of the central nervous system (CNS). Myelin forms a protective layer around neurons and is essential for their proper functioning. Neurodegenerative disorders such as multiple sclerosis (MS) are associated with a damaged, deteriorating myelin sheath, which ultimately leads to a range of symptoms such as depression, anxiety, irritability, and even death due to a breakdown of the vital neurological functions.
According to Andersson, “the data generated by Rewind Therapeutics so far support a truly novel mechanism of action and will allow the company to initiate clinical trials in key CNS indications.” Anja Harmeier, Chief Executive Officer at Rewind Therapeutics, commented: “The additional financing …allows us to accelerate the progression of our lead program into clinical development. “”
Demyelinating diseases such as multiple sclerosis affect millions of patients worldwide. Rewind´s approach is based on ensuring proper functioning of myelinating oligodendrocytes and oligodendrocyte precursor cells (OPCs), both of which are drivers of the myelination process. The Company´s goal is to establish a novel therapeutic principle that is universally applicable to all demyelination diseases. This provides significant therapeutic potential for treating a broad range of demyelination-inducing conditions.
Remyelation is definitely the next front in treatment approaches for MS. However, none of the dozen companies that have candidates in their preclinical and clinical pipeline has so far reported a breakthrough.
