Synopsis-
- Alembic said it has acquired preferred stock in RIGImmune amounting to a 19.97% post-money stake in the first closing of the series seed round that was completed recently.
- The biotech was founded by Dr. Anna Pyle and Dr. Akiko Iwasaki is focused on the development of RNA based therapies for viral diseases and oncology applications by targeting the innate immune target, RIG-I.
Alembic Pharma on Friday announced that it has made a strategic investment in RIGImmune, a biopharmaceutical research company co-founded by two prominent Yale University professors that’s focused on the development of novel treatments for RNA Virus.
Alembic said it has acquired preferred stock in RIGImmune amounting to a 19.97% post-money stake in the first closing of the series seed round that was completely recently.
Alembic Pharma buys Stock in RIGImmune Inc.
The biotech was founded by Dr. Anna Pyle and Dr. Akiko Iwasaki is focused on the development of RNA based therapies for viral diseases and oncology applications by targeting the innate immune target, RIG-I.
RIGImmune will utilize the proceeds of the series seed round to further the development of therapeutic oligonucleotides developed by Pyle and Iwasaki.
Both Pyle and Iwasaki were professors at Yale University and are investigators for the Howard Hughes Medical Institute. They were considered pioneers in the field of immunology .
“We are very excited to make this investment in RIGImmune Inc., a company founded by two of the world’s leading scientists in innate immunity and RNA based therapies,” Pranav Amin, MD of Alembic.
“We are delighted to have Alembic, a global pharmaceutical development firm, as a major participant in the seed financing round for RIGImmune,” said Martin Driscoll, Chairman of the Board of Directors for RIGImmune.
About Alembic Pharma
Alembic Pharmaceuticals Ltd. is an Indian multinational pharmaceutical company headquartered in Vadodara city of Gujarat – India. Alembic Pharmaceuticals Ltd. is involved in manufacture of pharmaceutical products, pharmaceutical substances and intermediates. It is also termed to be a market leader in macrolides segment of anti-infective drugs in India.
The company has its headquarters and Corporate Office situated in Vadodara, Gujarat – India while its manufacturing facilities are located at Panelav, Karakhadi in Gujarat and Sikkim, India. Its Panelav plant houses active pharmaceutical ingredients (APIs) and formulation manufacturing, while its Sikkim plant is involved in manufacture of formulations for Indian and non-regulated export markets
About RIGImmune
Founded by two doctors and professors at Yale University, RIGImmune Inc focusses on the development of RNA-based therapies for viral diseases and oncology applications by targetting the innate immune target, RIG-I. RIGImmune will utilise the proceeds of the series seed round to further the development of therapeutic
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