BRIEF—Rgenix raises $40 million in Series C funding

New York, USA-based cancer therapeutics company Rgenix has raised $40 million in a Series C financing round to support further clinical development of its first-in-class small molecule and antibody cancer therapeutics.

Lepu Medical, a global, publicly traded healthcare firm, led the round. Additionally, existing investors Sofinnova Partners and Novo Holdings joined the round. Other investors that participated in the round include Oceanpine Capital, WuXi AppTec’s Corporate Venture Fund, Alexandria Venture Investments, the Partnership Fund for New York City’s Innovate NY, and other associated entities. Jefferies advised Rgenix for this financing.

Funding will support development of the company’s lead therapy in development, RGX-104, a first-in class small-molecule immunotherapy that targets the Liver X Receptor (LXR), as well as RGX-202, a small molecule compound that suppresses gastrointestinal cancer progression.

“The addition of new investors to our already strong investor base is a testament to the power of our approach to develop first-in-class cancer therapeutics using the innovative Rgenix RNA target discovery platform to identify novel cancer targets,” said Dr Masoud Tavazoie, chief executive and co-founder of Rgenix