Remedium Bio, a biotechnology company developing durable protein therapeutics for chronic diseases, announced the initial closing of a planned $10 million Series A financing led by Lifespan Vision Ventures, with participation from Eli Lilly and Company and HKX Capital. The funding will support lead programs, platform development and preparations for first-in-human clinical studies.
Developing Durable Protein Therapies
Remedium’s proprietary platforms use adipocytes to produce therapeutic proteins following minimally invasive subcutaneous administration. The technology is designed to provide multi-year therapeutic benefits with adjustable expression levels, potentially reducing the need for frequent injections associated with conventional biologic treatments.
"The support of Lifespan Vision Ventures and our new and existing investors in this initial close reflects confidence in our platform, scientific progress, and the opportunity to redefine how chronic protein therapies are delivered" said Frank Luppino, Chief Executive Officer and Co-Founder of Remedium Bio. "With this financing, we are positioned to accelerate our lead programs and achieve several important development milestones. We look forward to completing the round with a select group of additional investors who share our vision for transforming the delivery of chronic protein therapies."
Advancing Toward Clinical Development
The financing will help advance Remedium’s pipeline toward clinical development while expanding applications across cardiometabolic and other chronic diseases. Harry Robb of Lifespan Vision Ventures has also joined Remedium’s Board of Directors.
"Remedium has developed a differentiated platform with the potential to address significant limitations of chronic biologic treatment," said Andrew Worden of Lifespan Vision Ventures. "We are pleased to lead the Series A and support the company as it advances its pipeline, moves toward clinical development, and expands the breadth of its platform."