Rigontec has raised €4.8M in the second closing of its Series A financing round from Forbion Capital Partners, a Dutch life-sciences venture capital firm, and Sunstone Capital, a Copenhagen based venture capital investor. The new investment brings the total Series A to €14.2M to the biopharmaceutical company that is developing RNA-based immunotherapeutics for the treatment of cancer and viral diseases. The investment also adds two further highly experienced investors to Rigontec’s investor base alongside Wellington Partners, Boehringer Ingelheim Venture Fund, NRW.BANK and High-Tech Gründerfonds (HTGF).
The proceeds of the Series A financing round will be used to progress Rigontec’s lead drug candidate into clinical proof-of-concept studies, and to expand Rigontec’s pipeline based on its proprietary RNA-sensing technology. Rigontec is developing synthetic ligands of a novel receptor of the innate immune system, Retinoic acid Inducible Gene I (RIG-I), which recognizes viral RNA. RNA motifs that activate RIG-I promote the destruction of diseased cells and the induction of a lasting immune memory thereby treating and preventing recurrence of the disease.