French biotechnology startup Ribonexus has raised €2 million in funding from the French public investment bank Bpifrance as part of the ‘Deeptech Plan’ of the French government.
This extra capital will allow the company to develop new treatments that overcome resistance to existing targeted therapies for cancer patients.
Targeted therapies clearly improve the outcome of patients with cancer, but their effectiveness decreases over time due to resistance that develops rapidly in patients.
Ribonexus (previously Aglaia Therapeutics), is currently developing new oncology therapies that deliver drugs that restore sensitivity for current targeted therapies in patients with cancer who have become resistant.
The company’s R&D programmes focus on the treatment of melanoma currently. It intends to continue to draw on its expertise in early-stage cancer treatment to expand and evaluate its programs for other indications of cancer.
A licence agreement is being sought with a pharmaceutical or biopharma company based upon the clinical data generated via the eIF4A inhibition programme.