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NEW YORK, May 20, 2021 /PRNewswire/
RenBio, a privately-held, preclinical biotechnology company developing novel, best-in-class antiviral antibody therapeutics and a next-generation antibody delivery platform, today announced that it has completed a $24 million Series A financing, led by Taiwan-based Ruentex Group. The company has also signed a license agreement with Columbia University, giving RenBio the exclusive worldwide development and commercialization rights to a novel bispecific antibody (RB-100) for COVID-19 that was developed in the lab of David D. Ho, M.D. of Columbia University and targets two distinct sites on the spike of SARS-CoV-2. In preclinical studies, RB-100 demonstrated robust antiviral activity against SARS-CoV-2 variants that have recently emerged from the U.K. (B.1.1.7), South Africa (B.1.351), Brazil (P.1), California (B.1.427 and B.1.429), and New York City (B.1.526).
The round was led by Taiwan-based Ruentex Group.
The company intends to use the funds to complete IND-enabling preclinical studies and initiate a Phase 1/2 clinical trial of RB-100 in 2021 and continue the development of its proprietary, DNA-based MYO (Make Your Own) Technology™ antibody delivery platform, with the goal of advancing a lead candidate into the clinic within two years.
Co-founded by HIV expert, David D. Ho, M.D., founding scientific director of the Aaron Diamond AIDS Research Center and Professor of Medicine at Columbia University Vagelos College of Physicians and Surgeons, and Yaoxing Huang, Ph.D., Associate Professor of Medical Sciences at Columbia University Vagelos College of Physicians and Surgeons, and led by Neal N. Padte, Ph.D., Chief Operating Officer and Chief Development Officer, and Rachel A. Liberatore, Ph.D., Director of Research and Development, RenBio is a preclinical biotechnology company developing novel antiviral antibody therapeutics and
RenBio Completes $24 Million Series A Financing and Licenses Novel SARS-CoV-2 Bispecific Antibody from Columbia University biospace.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biospace.com Daily Mail and Mail on Sunday newspapers.