Alembic Pharmaceuticals Limited (Alembic) has announced that it has made a strategic investment in RIGlmmune Inc., a biopharmaceutical research company cofounded by two prominent Yale University professors.
RIGlmmune 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.
Alembic has acquired preferred stock in RIGlmmune amounting to a 19.97% postmoney stake in the first closing of the series seed round that was completed recently, the statement said.
On this occasion, Pranav Amin, MD of Alembic stated: “We are very excited to make this investment in RIGlmmune lnc., 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 unmetneeds. 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 RIGlmmune Inc. and assure them of our support in bringi_ng 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 RIGlmmune,” said Martin Driscoll, Chairman of the Board of Directors for RIGlmmune. “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”.
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