(MENAFN- GlobeNewsWire - Nasdaq)
- Claus Andersson, PhD, joins Rewind ́s Board of Directors
Leuven, Belgium, January 25, 2023 --- rewind therapeutics , a company developing first-in-class treatments for demyelination-associated diseases, today announced that it has raised additional funding, with sunstone life science ventures a/s joining as a new investor and with participation of existing investors Boehringer Ingelheim Venture Fund, M. Ventures, PMV, Gemma Frisius Fonds, and CD3/ KU Leuven.
Claus Andersson, PhD, General Partner at Sunstone Life Science Ventures A/S, will join Rewind Therapeutics ́ Board of Directors. Financial details of the transaction were not disclosed.
The proceeds will be used to advance Rewind Therapeutics ́ lead program into clinical development and further broaden the Company ́s pipeline of drug candidates designed to restore the remyelination function of the central nervous system (CNS). Myelin forms a protective layer around neurons and is essential for their proper functioning. Neurodegenerative disorders such as multiple sclerosis are associated with a damaged, deteriorating myelin sheath, which ultimately leads to a range of symptoms such as depression, anxiety, irritability, and even death due to a breakdown of the vital neurological functions.
'We are delighted to welcome Sunstone Life Science Ventures as a new investor alongside the continued support by our existing investor syndicate,' said Anja Harmeier, Chief Executive Officer at Rewind Therapeutics. 'The additional financing not only strengthens our top-tier investor base, but also allows us to accelerate the progression of our lead program into clinical development. Moreover, we look forward to working with Claus Andersson as a new member of our Board of Directors.'
'Halting or even reverting demyelination is a challenging task. The data generated by Rewind Therapeutics so far supports a truly novel mechanism of action and will allow the Company to initiate clinical trials in key CNS indications,' said Claus Andersson, PhD, General Partner at Sunstone Life Science Ventures A/S. 'Moreover, Rewind has a strong patent estate and a team with long research and development expertise in the field of remyelination therapeutics. The combination of this extensive industry expertise and the high unmet medical need in neurogenerative disorders has convinced us to join forces with Rewind ́s existing, internationally renowned investor syndicate.'
Demyelinating diseases such as multiple sclerosis affect millions of patients worldwide. Rewind ́s approach is based on ensuring proper functioning of myelinating oligodendrocytes and oligodendrocyte precursor cells (OPCs), both of which are drivers of the myelination process. The Company ́s goal is to establish a novel therapeutic principle that is universally applicable to all demyelination diseases. This provides significant therapeutic potential for treating a broad range of demyelination-inducing conditions.
About Rewind Therapeutics
Rewind Therapeutics develops first-in-class therapeutics designed to re-initiate the process of remyelination in patients suffering from major debilitating diseases such as multiple sclerosis, optic neuritis or nerve injuries. A common feature of these illnesses is the loss of the myelin sheath, a protective cover wrapped around the nerves. Repairing or re-installing this sheath (i.e., remyelination) is a crucial factor for halting or reversing disease progression or even curing these diseases. Rewind ́s team has extensive R&D expertise and has built a strong patent estate for developing novel remyelination therapeutics. Based in Leuven, Belgium, Rewind is backed by top-tier life science investors such as Boehringer Ingelheim Venture Fund, M. Ventures, PMV, Sunstone Life Science Ventures, Gemma Frisius Fonds, and CD3/ KU Leuven.
About Sunstone Life Science Ventures
Sunstone Life Science Ventures is an independent European venture capital investment firm founded in 2007 by an international team of industry experts with combined entrepreneurial, operational and financial experience. Managing total funds of €500 million, Sunstone Life Science Ventures focuses on developing and expanding early‐stage Life Science companies with strong potential to achieve global
success in their markets. Since the inception, Sunstone Life Science Ventures has invested in more than 50 companies in the areas of pharmaceuticals, medical technologies and diagnostics, and has completed more than 20 successful IPOs and large M&A transactions. For more information, please visit: