Rejuvenate Biomed raises €15.7 million
Rejuvenate Biomed raises a EUR 15.7 million Series B to accelerate clinical development of its sarcopenia treatment for healthy aging
Heusden-Zolder, Belgium, Schlieren, Zürich, Switzerland, and Luxembourg, Grand Duchy of Luxembourg, 12 October 2021 – Rejuvenate Biomed NV ('Rejuvenate'), a biomedical company developing novel combination drugs for age-related diseases, today announces a EUR 15.7 million Series B round. The funding is being used to accelerate the clinical development of Rejuvenate's lead candidate RJx-01 in both acute and chronic sarcopenia (disuse-induced and age-related muscle failure).
The Series B round is being led by Rejuveron Life Sciences AG ('Rejuveron'), a Zürich-based biotechnology company developing therapies to promote healthy aging, and Luxembourg-based Vesalius Biocapital. Rejuveron will ultimately acquire a majority shareholding in Rejuvenate, further expanding the Swiss company's presence in the field of longevity research.
Rejuvenate aims to increase people's healthy years of life by translating the science behind what keeps cells vital and resilient into human therapeutics. The company has developed a proprietary in silico screening platform that uses an approach based on artificial intelligence and network biology to investigate dysregulated pathways in aging. With this platform, Rejuvenate is able to evaluate if safe, marketed treatments can be used as synergistic drug combinations to impact upon these pathways, maintaining our natural cellular resilience and postponing the onset of certain age-related diseases.
Rejuvenate's lead drug candidate RJx-01 is a novel, small molecule, combination product identified using the company's in silico platform. RJx-01 is being developed for the treatment of acute and chronic sarcopenia, a muscle disease defined by the loss of muscle strength, quality, and mass. There is a huge unmet medical need in sarcopenia: the disease affects 50% of elderly and rehabilitation patients, and there is no approved therapy on the market.
In vivo studies with RJx-01 have demonstrated the treatment's ability to improve muscle mass and strength, as well as beneficial effects in the prevention and treatment of other age-related diseases. Rejuvenate's Series B will now be used to advance RJx-01 through a Belgian Phase Ib clinical trial and an international multicenter Phase IIb trial. The funds will also go towards exploring the treatment's potential in other diseases, as well as further developing the company's in silico screening platform and pipeline of other drug candidates.
Dr. Ann Beliën, PhD, Founder and CEO of Rejuvenate: "This investment is more to us than a financial deal: it is the result of Vesalius Biocapital's unrelenting belief in what we do, and the backing of Rejuveron, a company with which we share a fully aligned vision and complementary expertise. This investment will result in an intense collaboration between the Rejuveron and Rejuvenate teams, lifting us all to the next level. Becoming a clinical-stage company is a key milestone for us, and we could not have reached this point without the dedication of our excellent team and the continued support of our investors. We look forward to a future where products from our platform help people live healthier lives!"
Mr. Stéphane Verdood, MBA, MSc, Managing Partner at Vesalius Biocapital III: "Vesalius Biocapital III has supported Rejuvenate since the company's inception. Its excellent scientific basis, sound clinical approach and strong management team convinced us to invest at an early stage of development. The current round will allow Rejuvenate to reach proof of concept in an underserved medical area, and we are pleased that Rejuveron shares this drive."
Dr. Matthias Steger, PhD, MBA, CEO of Rejuveron: "Over the past four years, the Rejuvenate team has demonstrated that its approach can be used to develop new patent-protected combination drugs based on known prescription medicines. This platform has resulted in a promising first drug candidate, with the wider application being to deliver therapeutics with a meaningful impact on the treatment and prevention of multiple age-related diseases by tackling their root causes. This strikes right at the heart of Rejuveron's purpose: making therapies happen for people to stay healthier for longer."
About Rejuvenate Biomed
Rejuvenate Biomed is an independent Belgian biomedical company established in October 2017 by Ann Beliën, PhD, after nearly two decades of experience with Janssen Pharmaceutical companies of Johnson and Johnson. The company is developing safe, proprietary, combination drugs that delay or prevent the onset of multiple age-related diseases, with a focus on the intersection between fundamental aging mechanisms and chronic conditions.
Rejuvenate Biomed is a resident company of Johnson & Johnson Innovation, JLABS, a premier life sciences incubator program. JLABS is a global network of open innovation ecosystems, enabling and empowering innovators to create and accelerate the delivery of life-enhancing health and wellness solutions to patients around the world. As a leader in innovation, JLABS helps entrepreneurs in pharmaceutical, medical device, consumer, and health tech bring healthcare solutions to patients and consumers.
For more information, please visit: www.rejuvenatebiomed.com
Rejuveron Life Sciences AG is a fully integrated biotechnology platform company that invests in people and ideas to develop therapies and technologies to improve healthy aging and prolong lifespan. Its team of experienced drug discovery and development experts provide start-up coaching and funding to entrepreneurial scientists. Rejuveron has state-of-the-art incubator laboratory facilities in Zürich's Bio-Technopark in Schlieren.
For more information, please visit www.rejuveron.com
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About Vesalius Biocapital III
Vesalius Biocapital III is a specialist life sciences venture capital fund in line with predecessor funds Vesalius Biocapital I and Vesalius Biocapital II, which have supported life sciences companies since 2007. Vesalius Biocapital III, launched in April 2017, announced a final close with EUR 120 million in commitments. The fund targets later-stage European life science companies in drug development, medtech, diagnostics and digital health. The specialist team is based in Europe and consists of seasoned life sciences professionals with healthcare industry, corporate finance and strategy consulting experience, committed to supporting companies through their growth cycle.