Remedium Bio is moving closer to human clinical development after completing the initial closing of its planned $10 million Series A financing. The Boston-based biotechnology company is developing a platform designed to provide controlled and long-lasting production of therapeutic proteins for people with chronic diseases.
Lifespan Vision Ventures is leading the financing, with participation from Eli Lilly and Company and HKX Capital. The company has not announced that the full $10 million has already closed. Instead, Remedium Bio said it expects to complete the Series A with a select group of additional investors.
Funding Will Support Clinical Preparation
Remedium Bio plans to use the financing to advance its lead programs, expand its platform technologies and prepare for first-in-human clinical studies.
The new capital comes as the company works to move its programs from preclinical development toward human testing. The company said the financing is expected to support development milestones across its pipeline, including programs focused on cardiometabolic and other chronic diseases.
Frank Luppino, Chief Executive Officer and Co-Founder of Remedium Bio, said the support from Lifespan Vision Ventures and other investors reflects confidence in the company’s platform and scientific progress. He added that the financing will help the company accelerate its lead programs and work toward important development milestones.
Remedium Bio’s Approach to Protein Therapies
Remedium Bio is developing durable protein therapeutics that aim to change how some chronic diseases are treated. Its proprietary platform is designed to enable controlled expression of therapeutic proteins following minimally invasive subcutaneous administration. The company’s approach uses adipocytes, or fat cells, as a site for producing therapeutic proteins inside the body.
According to Remedium Bio, the technology has the potential to provide multi-year therapeutic benefits while allowing expression levels to be adjusted after treatment. This adjustable feature is an important part of the company’s approach because it is intended to provide more control over therapeutic protein production after administration. However, these benefits remain potential outcomes of the platform. Remedium Bio is still preparing for first-in-human studies, so its safety and effectiveness in humans have not yet been established.
Prometheus Platform Targets Chronic Conditions
The company’s proprietary Prometheus™ platform forms a central part of its development strategy. Remedium Bio describes it as a gene therapy platform designed for durable delivery of therapeutic genes with post-treatment dose adjustment.
The company’s longer-term goal is to develop gene therapies that could replace some frequently administered subcutaneous protein therapies. Rather than requiring repeated administration of therapeutic proteins, Remedium Bio aims to use the patient’s own cells to produce the required proteins over an extended period. The company says its pipeline covers several therapeutic areas, including endocrinology, immunology, neurology and musculoskeletal diseases. Its development work also includes programs addressing cardiometabolic and other chronic conditions.
Lifespan Vision Ventures Leads the Round
Lifespan Vision Ventures is leading the Series A financing. The venture firm focuses on early-stage biotechnology companies developing technologies aimed at preventing and treating age-related diseases and supporting healthy aging. Andrew Worden, Founding Partner of Lifespan Vision Ventures, said Remedium Bio has developed a platform with the potential to address important limitations associated with chronic biologic treatments.
As part of the financing, Harry Robb of Lifespan Vision Ventures has joined Remedium Bio’s Board of Directors. His appointment gives the investor a direct role in the company’s next stage of development. Eli Lilly and Company and HKX Capital also participated in the initial financing. Lilly’s involvement adds a major pharmaceutical company to the investor group supporting Remedium Bio as it advances toward clinical development.
Preparing for First-in-Human Studies
The Series A financing marks an important stage for Remedium Bio as it prepares to take its platform toward human testing. The company now plans to continue advancing its lead programs, expand its technology and complete the remaining portion of its planned financing.
The next stage will be particularly important because Remedium Bio will need to demonstrate whether its platform can safely and effectively provide durable therapeutic protein production in humans while maintaining the ability to adjust expression levels.
For now, the company remains focused on completing its Series A and preparing its lead programs for first-in-human clinical studies. If its approach proves successful in future clinical development, it could offer a new way to deliver long-term protein therapies for chronic diseases while reducing the need for frequent treatment.
