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10th December, 2021, Mumbai: Alembic Pharmaceuticals Limited (Alembic) has announced today that it has made a strategic investment in RIGImmune Inc., a biopharmaceutical research company co-founded by two prominent Yale University professors.
RIGImmune Inc. was founded by Dr. Anna Pyle and Dr. Akiko Iwasaki. Dr. Pyle is a Professor of Molecular, Cellular and Developmental Biology at Yale University and an investigator for the Howard Hughes Medical Institute. She is a pioneer in the field of RNA biochemistry. Dr. Akiko Iwasaki is a Professor in the Department of Immunology and a Professor of Molecular, Cellular, and Developmental Biology at Yale University. She is also an investigator for the Howard Hughes Medical Institute and a pioneer in the field of immunology. RIGImmune, Inc. is focused on the development of RNA based therapies for viral diseases and oncology applications by targeting the innate immune target, RIG-I. RIGImmune will utilize the proceeds of the series seed round to further the development of therapeutic oligonucleotides developed by Dr. Pyle and Dr. Iwasaki.
Alembic has acquired preferred stock in RIGImmune amounting to a 19.97% post-money stake in the first closing of the series seed round that was completed recently.
On this occasion, Mr. Pranav Amin, MD of Alembic stated: “We are very excited to make this investment in RIGImmune Inc., a company founded by two of the world’s leading scientists in innate immunity and RNA based therapies. Alembic believes in bringing differentiated and innovative products to help address unmet needs. Apart from pursuing internal projects, we believe we can accelerate our efforts by making strategic investments in companies that are leaders in their field and this investment marks the beginning for us. We wish to thank Dr. Pyle, Dr. Iwasaki, and the management team of RIGImmune Inc. and assure them of our support in bringing these innovations to patients.”
“We are delighted to have Alembic, a global pharmaceutical development firm, as a major participant in the seed financing round for RIGImmune,” said Martin Driscoll, Chairman of the Board of Directors for RIGImmune. ”We look forward to working with the Alembic team as we advance our novel stem loop RNA therapeutics as potential treatments for patients suffering from viral diseases and cancer.”