ReAlta Life Sciences Inc., a Norfolk, VA-based clinical-stage biopharmaceutical company, has raised $40 million in a funding round. Backers were not disclosed. The raise brought the total amount to more than $150M to date.
The company plans to use the funds to move pegtarazimod forward through important clinical and regulatory steps as a potential first treatment for Hypoxic Ischemic Encephalopathy (HIE).
ReAlta Life Sciences is a clinical-stage biotech company focused on developing treatments for inflammatory diseases by safely targeting neutrophils and key parts of the complement system.
ReAlta Life Sciences CEO Howard Berman said that thousands of newborns each year suffer brain injury from HIE, and there are currently no approved drug treatments. He said this funding reflects strong confidence in pegtarazimod, a drug designed to target key drivers of brain inflammation and potentially offer a new way to treat the condition. The company believes it is well-positioned to achieve its upcoming clinical milestones.
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Kia Motesharei added that the financing will help the company focus on key clinical milestones and use capital efficiently to move forward. He said the goal is to create a completely new treatment approach for HIE, where no approved therapy currently exists.
Overall, the company aims to go beyond small improvements and instead fundamentally change how HIE in newborns is treated.
About ReAlta Life Sciences
Founded in 2018, ReAlta Life Sciences is a clinical-stage biotech company developing new treatments for severe inflammatory diseases with limited or no current options. The company focuses on specially designed peptide therapies aimed at strong efficacy with improved safety. Its lead drug, pegtarazimod (RLS-0071), targets both complement and neutrophil-driven inflammation early in the disease process to help reduce inflammation and prevent tissue damage at the source.
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