Biotech Refoxy Pharmaceuticals has raised €9.1 million Seed-extension financing.
The German startup is the first preclinical biotech company purposely developing small molecule activators of the FOXO3 transcription factor for the treatment of age-related diseases.
FOXO3 is one of the genes most robustly associated with a longer and healthier human lifespan. It helps tissues and organs fight diverse forms of stress, making it a compelling target for drug discovery. However, its complex biology has limited efforts to leverage its therapeutic potential.
Refoxy’s discovery platform, F.act finder (FOXO activator finder), delivers molecules that specifically modulate FOXO3 and elicit unique therapeutic effects. The company is developing a pipeline of therapeutics, with an initial focus on fibrotic disorders, particularly idiopathic pulmonary fibrosis (IPF).
IPF is a chronic, age-related interstitial lung disease with high mortality and limited treatment options that affects around three million people globally.
It involves the buildup of scar tissue (fibrosis) in the lungs and progressively limits breathing capacity. Refoxy is modulating a transcription factor that can orchestrate changes at multiple biological levels, with the potential to interfere with disease progression.
“We are following biology,” says Dr Victor Bustos, co-founder and CEO of Refoxy.
“The evidence that FOXO3 activation can be therapeutically relevant continues to grow, not only in IPF but in multiple chronic disorders. This financing brings us one step closer to leveraging FOXO3 biology for novel therapeutics.”
Boehringer Ingelheim Venture Fund (BIVF) led the funding, which was and joined by Apollo Health Ventures, NRW Venture, and High-Tech Gründerfonds (HTGF) to advance the development of novel therapeutic medicines in diverse indications, starting with idiopathic pulmonary fibrosis (IPF).
Dr. Niklas Czeloth, Investment Manager at BIVF and board member at Refoxy reiterates the need for novel approaches in tackling this disease:
“We are thrilled to provide funding for Refoxy's research on FOXO3 activation as a promising novel therapeutic approach.
This perfectly aligns with our mission to support breakthrough developments and deliver innovative therapies to patients in need in the field of IPF.”
Refoxy’s board of directors is further strengthened by appointing Dr. Anela Vukoja from Apollo Health Ventures, Dr Vera Mehler-de Graaff from NRW.Venture, and Dr Christian Kannemeier as an observer from HTGF.
According to Johanna Antonie Tjaden-Schulte, a member of the Managing Board of NRW.BANK:
"In view of the innovative therapeutic approach being developed by Refoxy, our investment in the startup is a good example of how promotional funding can foster innovative ideas 'Made in NRW'."
Lead image: Refoxy Pharmaceuticals.Photo: uncredited.
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