Regenacy Pharmaceuticals Raises $30 Million

Regenacy Pharmaceuticals, a clinical-stage biopharmaceutical company developing breakthrough treatments for diabetic and other peripheral neuropathies, today announced the closing of a $30 million Series A financing. The financing was co-led by Cobro Ventures and Taiwania Capital Management Corporation, with participation from 3E Bioventures Capital, Yonjin Capital, VIVA Biotech Holdings, TA YA VENTURE HOLDINGS LIMITED, and other undisclosed private investors. “We are fortunate to have the strong support of investors aligned with our mission to provide lasting relief of all symptoms of diabetic peripheral neuropathy,” said Simon Jones, Ph.D., Regenacy’s President and Chief Executive Officer. “Our preclinical studies demonstrate that selectively inhibiting HDAC6 has the potential to safely restore nerve function in multiple peripheral neuropathies, and we are looking forward to advancing our lead program into Phase 2 studies this year.” “Regenacy is diligently working on developing a therapeutic that addresses the underlying causes of peripheral neuropathy,” said Marc Cohen, Regenacy’s Executive Chairman and Co-Founder of Cobro Ventures. “We believe the company’s HDAC6 approach has a strong potential to provide long-term improvements in pain, motor function and sensitivity in patients with this disease.” The money comes from a series A financing round, which startup companies need to raise capital. The funding was co-led by Cobro Ventures and Taiwania Capital Management Corporation, and joined by 3E Bioventures Capital, Yonjin Capital, VIVA Biotech, TA YA VENTURE, along with other undisclosed private investors. “We are fortunate to have the strong support of investors aligned with our mission to provide lasting relief of all symptoms of diabetic peripheral neuropathy,” Simon Jones, PhD, Regenacy’s president and CEO, said in a press release.