Renibus Therapeutics – a clinical-stage biopharmaceutical company focusing on the prevention and treatment of cardio-renal diseases – recently announced raising $47 million from the initial closings of a Series B financing. The proceeds from the financing will be used to advance RBT-1 through a pivotal Phase 3 trial for its lead indication of reducing the risk of post-operative complications following cardiothoracic surgery.
And RBT-1 (stannic protoporfin/iron sucrose) is a potent inducer of anti-inflammatory, antioxidant and iron scavenging pathways that acts as a preconditioning agent, initially being studied in cardiac surgery patients. In February 2023, the company completed Phase 2 development of RBT-1, and presented the data at the American Association for Thoracic Surgery Meeting during a late-breaking session in May 2023.
RBT-1 (stannic protoporfin/iron sucrose) is a potent inducer of anti-inflammatory, antioxidant and iron-scavenging pathways that is advancing toward Phase 3 development for its lead indication to reduce post-operative complications following cardiothoracic surgery.
KEY QUOTE:
“The last few months have been transformational for Renibus, highlighted by the completion of the RBT-1 Phase 2 study demonstrating RBT-1’s potential to prevent organ damage and minimize post-operative complications after cardiac surgery. These results, and the FDA’s Breakthrough Designation, catalyzed the $47 million financing announced today. These funds, from existing and new investors, including leaders in the cardiac surgery community, will be used to advance RBT-1 through the planned Phase 3 trial, which is designed to be a standalone pivotal study for submission of a new drug application. Our investor base remains strong, and we thank them for supporting our shared commitment to advancing RBT-1 and improving patient healthcare.”
— Frank Stonebanks, Co-CEO of Renibus
