RejuvenRx Nabs $700K for Blood Stem Cell Rejuvenation
The C$1 million grant will support development of an oral medicine designed to restore blood-forming stem cells and rebuild the immune system.
Key Points
- Stem Cell Network awarded RejuvenRx a C$1 million grant through its new Incubation Investment Award program.
- The funding marks the first direct company investment in Stem Cell Network’s 25-year history.
- RejuvenRx is developing an oral medicine intended to restore blood-forming stem cells and rebuild the immune system.
Stem Cell Network has awarded Montreal-based RejuvenRx a C$1 million grant, approximately $710,000, through its new Incubation Investment Award program. It is the first direct company investment in the organization’s 25-year history.
RejuvenRx is developing an oral medicine that aims to restore healthy blood-forming stem cells and rebuild the immune system. If successful, it could provide another treatment option for patients with serious blood cancers who may have few alternatives beyond stem cell transplantation.
Building on UM171 Research
RejuvenRx was co-founded by Drs. Anne Marinier and Guy Sauvageau, who were part of the team behind UM171. Developed at Université de Montréal, UM171 is a molecule that boosts the effectiveness of stem cell transplants in patients with cancer.
Stem Cell Network created the Incubation Investment Award to address the early-stage funding gap between identifying a promising innovation and reaching readiness for clinical development, manufacturing and significant private investment. RejuvenRx was selected based on its science, leadership and business strategy. Capital BioVentures supported the review through a strategic partnership with Stem Cell Network and will provide business expertise and mentorship.
“This investment will help us advance the foundational work needed to move our technology closer to patients and strengthen our readiness for future investment and development,” said Anne Marinier, chief executive officer of RejuvenRx.
Supporting Early-Stage Canadian Biotechnology
Stem Cell Network says its research funding has enhanced or catalyzed more than 28 biotechnology companies over 25 years. Its move into direct investment reflects demand for early-stage funding intended to reduce development risk in Canadian biotechnology.
“Too often, discoveries made in Canada are developed and commercialized elsewhere, taking intellectual property, talent and economic opportunity with them,” said Cate Murray, Stem Cell Network president and chief executive officer. The network plans to support additional companies in the coming years.
Want to keep up on regenerative medicine? Get the weekly newsletter here.
