We fund ReNetX Bio with $7M
Wings for Life has made a significant commitment to ReNetX Bio, a New-Haven, Conneticut based biotech startup that is advancing a cutting-edge therapy for chronic spinal cord injury to clinical trial. The Founder and Scientific Advisor of ReNetX is Stephen Strittmatter. His discovery of proteins which limit nerve fiber growth after injury, and subsequent development of a molecule to block receptors for these proteins, have formed the basis of a therapeutic that offers the first real hope to patients with chronic spinal cord injury.
A completely unmet Need
“Dr. Strittmatter discovered and developed a molecule that blocks three different inhibitors, stabilizes the nervous system and allows for neuro-regeneration. This is a completely unmet need,” says Jane Hsieh, Executive Director of the Wings for Life Accelerated Translational Program.
For injured animals treated with this molecule, nearly a third of them regained full mobility even after a three-month delay between injury and treatment. “Any successful therapeutic to date that’s been neuro-regenerative has been used in the acute situation,” says Armin Curt, MD, PhD, Clinical Director at Wings for Life. “This is the first time we’ve seen such positive results in the chronic paradigm.”
Hsieh describes the funding as a critical bridge to help ReNetX Bio cross what is known as the “valley of death,” to advance the program to key proof of concept milestones needed from a large-scale clinical trial to spark additional investor and industry engagement to advance promising treatments for patients. “We in foundations recognize that this is an area where we can step in,” Hsieh says. “Our primary purpose is to accelerate translation so our population will get these innovative treatments faster.” ReNetX CEO Erika R. Smith adds: “Wings for Life has been an incredible partner. They have given us the means to accelerate launch for a full clinical trial that can provide us with the necessary data to advance these first-in-class therapeutics for patients suffering from chronic spinal cord injury.”
The planned ReNetX clinical trial will begin in late 2018. For more information, visit http://www.renetx.com/