Weekly Quick Hits (BioHealth Capital Region) – Week of May 29, 2023 By Sarah EllinwoodJune 2, 2023 Funding, Awards and Collaborations BCWorld Healthcare and ReGelTec Enter Exclusive Distribution Agreement for [….]
ReAlta Life Sciences, Inc. (“ReAlta”) a clinical stage, rare disease company addressing life-threatening diseases through harnessing the power of the immune system, today announced the dosing of the first patient in its Phase 1b Inhaled- lipopolysaccharide (LPS) challenge clinical trial in healthy volunteers to support development of RLS-0071 in severe asthma. RLS-0071 is the Company’s lead dual-action complement inhibitor and innate anti-inflammatory peptide in development as a treatment for hypoxic ischemic encephalopathy, severe asthma, and other rare diseases.
ReAlta Life Sciences (“ReAlta”), Inc., a clinical stage, rare disease company addressing life-threatening diseases through harnessing the power of the immune system, today announced first-in-human Phase 1 clinical data on RLS-0071, the Company’s complement inhibitor and innate anti-inflammatory product candidate. RLS-0071 demonstrated an excellent safety profile and confirmed target engagement in healthy volunteers. RLS-0071 is being developed as a treatment for hypoxic-ischemic encephalopathy (HIE) and other rare diseases. The data are being presented at the American Academy of Neurology 2022 Annual Meeting to be held in person in Seattle on April 2 to 6, 2022, and virtually on April 24 to 26, 2022. The abstract is available here.
In the third quarter of 2021 alone, more than $400 million of private capital was invested in Maryland businesses. The money went to more than 34 different companies, according to data compiled by PitchBook. The deals brought the state to about $1.6 billion in funding for the first three-fourths of the year and placed Maryland on track to bring in about $2 billion worth of VC funding for the year. That was a significant jump over 2020, when Maryland saw about $1.26 billion in VC funding. For the industry at large in 2020, VC activity in biotechs grew by 45% to $36.6 billion.
ReAlta Life Sciences (“ReAlta”), Inc., a company addressing life-threatening diseases through harnessing the power of the immune system, today announced that it has received a $3.2 million grant award from The Virginia Catalyst, also known as the Virginia Biosciences Health Research Corporation (VBHRC), to accelerate the Company’s Phase 1b clinical trial evaluating RLS-0071 for the treatment of acute lung injury (ALI) due to COVID-19. The award, which is granted to Virginia companies to support the acceleration of clinical testing of therapeutic drugs that treat life threating symptoms caused by COVID-19, includes additional funding for the Company’s research partner, Old Dominion University of Norfolk, Virginia, to explore other clinical biomarkers relevant for RLS-0071 treatment of COVID-19 patients.
