Rejuvenate Biomed Secures EUR 3.2M
Rejuvenate Biomed Secures EUR 3.2 Million Series A Round to Advance Development of Healthy Aging Products
Heusden-Zolder, Belgium, 2nd March 2021 – Rejuvenate Biomed NV ("Rejuvenate"), a biomedical company developing prescription drugs for age-related diseases, announces it has completed a EUR 3.2 million Series A round. The funding is being used to advance the development of Rejuvenate's lead candidate RJx-01 in both acute and chronic sarcopenia (disuse-induced and age-related muscle failure).
The financing included lead investor Vesalius Biocapital III and private non-disclosed investors, as well as existing investors. Additionally, Rejuvenate gratefully acknowledges the ongoing support of Flanders Innovation and Entrepreneurship (VLAIO) of EUR 1.9 million in non-dilutive funding. Concurrent with the closing, the company has bolstered its scientific advisory board, which is now composed of Dr. Johan Auwerx, MD, PhD, Dr. Eric Verdin, MD, PhD, Dr. Marco Sandri, MD, PhD, Dr. Bart Braeckman, PhD, Dr. Björn Schumacher, PhD, and Dr. Andrea Maier, MD, PhD. Furthermore, a clinical advisory board has been established which is led by Dr. Jean-Yves Reginster, MD, PhD.
Rejuvenate's lead candidate RJx-01 is a novel, safe, orally administered, small molecule combination product being developed for sarcopenia, defined by loss of muscle strength, quality and mass. The product was derived from an extensive in silico systems biology program, which mapped existing drugs with curated longevity pathways to create innovative, synergistic and highly effective combinations. RJx-01 has demonstrated strong preclinical evidence in multiple models and, with human safety data on hand for the individual compounds, the company plans to move the program into Phase Ib/IIb clinic trials later this year.
Dr. Ann Beliën, PhD, Founder and CEO of Rejuvenate: "We are very pleased to welcome our lead investor Vesalius Biocapital III as well as the other new investors and wish to thank our existing shareholders for their continued support. Our team is highly driven to deliver therapeutics with a meaningful impact on the treatment and prevention of multiple age-related diseases by tackling their root causes. Using safe products as building blocks to develop innovative combinations such as RJx-01 has created unique opportunities in this field. Our dream of extending people's health span is becoming a reality."
Mr. Stéphane Verdood, MBA, MSc, Managing Partner at Vesalius Biocapital III: "Rejuvenate's data show the potential for RJx-01 to drive our natural capacity to self-restore our cells. The company has a solid scientific and clinical basis coupled with a management team that is rapidly advancing RJx-01 for sarcopenia, and we are excited to be part of the next stage of the company's growth."
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. Rejuvenate aims to increase the healthy years of life, also referred to as a person's health span, by translating the science behind what keeps cells vital and resilient into human therapeutics. The company is developing safe, proprietary, combination products 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.
More information at www.rejuvenatebiomed.com
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 I and II contributed to the development of over 20 companies. 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.