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.