Redpin Therapeutics Secures $15.5M in Initial Closing of Series A Financing
Summary
Redpin Therapeutics, Inc., a NYC-based chemogenetics company developing controllable gene therapies to address intractable diseases of the nervous system, secured $15.5m in the initial closing of its Series A financing round. The company intends to use the funds to further progress the development of its ultra-potent ion channel based chemogenetics platform to address disorders associated with neural circuit dysfunction including epilepsy, neuropathic pain and Parkinson’s disease. Redpin has a worldwide exclusive license from the Howard Hughes Medical Institute for the therapeutic use of this technology, and is working with urgency to apply it to advance important medicines for patients in desperate need of effective therapies. Current treatment of these diseases and disorders typically involve the use of systemic drugs to address local neuron dysfunction and can have limited efficacy due to adverse, off-target side effects. The platform is derived from many years of research pioneered by Redpin’s founders who include Dr Scott Sternson (Howard Hughes Medical Institute) and Professor Jeffrey M. Friedman MD PhD (Rockefeller University).