Alembic announces seed round investment in RIGImmune, Inc
Alembic has acquired preferred stock in RIGImmune amounting to a 19.97 per cent post-money stake in the first closing of the series seed round that was completed recently
Alembic Pharmaceuticals today made a strategic investment in RIGImmune Inc., a biopharmaceutical research company.
Founded by two doctors and professors at Yale University, RIGImmune Inc focusses on the development of RNA-based therapies for viral diseases and oncology applications by targetting the innate immune target, RIG-I. RIGImmune will utilise the proceeds of the series seed round to further the development of therapeutic oligonucleotides developed by the two doctors, a statement from Alembic Pharma said.
It also said that Alembic has acquired preferred stock in RIGImmune amounting to a 19.97 per cent post-money stake in the first closing of the series seed round that was completed recently.
Speaking in this regard, Martin Driscoll, Chairman of the Board of Directors for RIGImmune, said, “We look forward to work with the Alembic team as we advance our novel stem loop RNA therapeutics as potential treatments for patients suffering from viral diseases and cancer.”
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