Redpin Therapeutics, a US-based developer of treatments for nervous system disorders, has completed the $15.5m first tranche of its series A round, pulling in funding from investors including pharmaceutical firm Takeda.
Venture capital firm 4Bio Capital led the round, which included life sciences real estate investment trust Alexandria Real Estate Equities, the New York State-owned New York Ventures and Arkin Bio Ventures, the investment arm of healthcare investment platform Arkin Holdings.
Takeda and Alexandria took part in the round through venture capital vehicles Takeda Ventures and Alexandria Venture Investments. 4Bio Capital managing partner Dmitry Kuzmin has taken a seat on Redpin’s board of directors in conjunction with its investment.
Founded in 2017, Redpin is developing gene therapies for intractable diseases affecting the nervous system, utilising a method known as chemogenetics, which involves engineering macromolecules to interact with small molecules.
The funding will support more work on the company’s chemogenetics platform, which stems from research by co-founders Jeffrey M. Friedman and Scott Sternson of Rockefeller University’s Howard Hughes Medical Institute.
Michael Martin, head of Takeda Ventures, said: “Investing in early-stage companies like Redpin, who are advancing novel technologies with the potential to provide transformational benefits to patients, is a key component of Takeda’s partnering strategy.
“Redpin’s chemogenetic platform could one day deliver targeted treatments for neurological diseases, an area closely aligned with Takeda’s research and development expertise.”
The company had previously raised $1.5m in March 2018 according to a regulatory filing, and identified Alexandria Venture Investments and New York Ventures as existing investors in the latest round.
