SINGAPORE, Dec 6 (Bernama-BUSINESS WIRE) -- RxCell, a pioneering biotech company focusing on cellular therapeutics for age-related diseases, today proudly announces a $4,600,000 investment commitment from DMR Global Venture LLC and Regenosis. Building on the strength of collaboration with National University of Singapore, this fresh investment accentuates RxCell’s resolute drive to revolutionize age-related disease treatment.
Furthermore, RxCell is gearing up for a substantial second capital raise of $15,000,000 in Q4 2023. This upcoming fundraise is strategically designed to secure the necessary resources, propelling the company forward through its promising IND (Investigational New Drug) application testing and process.
The Market Landscape:
The global Age-related Macular Degeneration (AMD) Market, an integral segment RxCell operates in, had a valuation of USD 7.47 billion in 2021. This market is projected to surge forward at a CAGR of 7.9% from 2021 to 2030.
Contemporary Methods vs. RxCell’s Approach:
Most prevalent methods in the market predominantly focus on slowing or halting the progression of cell death by replacing afflicted cells with RPE (Retinal Pigment Epithelium) or other cell types that introduce trophic factors. However, using RPE replacement alone is believed to offer limited value, especially to patients who have already suffered significant photoreceptor loss.
RxCell stands distinctively apart with its innovative approach. The firm intends to treat patients by replacing damaged or dysfunctional cells with healthy and functional iPSC-derived RPC (photoreceptors). Alternatively, they employ a combination of RPC and RPE with the primary aim of restoring vision. RxCell is determined to demonstrate the broad value of its RPC product in an upcoming Phase I/IIA clinical trial, targeting RP patients.
Professor Xianmin Zeng, CEO of RxCell, remarked, "We're thrilled to align with DMR Global Venture and Regenosis. Their unwavering support invigorates our mission. With the forthcoming capital raise of $15,000,000, we're poised to solidify our position in the AMD market, bringing about transformative therapies that reshape the landscape."
Both DMR Global Venture and Regenosis are recognized names, with the former being a dynamic investment firm focusing on the US healthcare sector and the latter, a Singapore-based entity, devoted to combating the effects of ageing.
In light of prior milestones, including the collaboration with A*STAR’s IMCB, NUS, and SERI, RxCell remains unwavering in its commitment to the biotech ecosystem. This recent capital influx, coupled with the planned Q4 raise, fortifies the company’s commitment to combating age-related diseases.
For details on our esteemed investors:
About RxCell, Inc.
RxCell Inc. is a forerunner in the cell therapy domain, particularly in the therapeutic applications of induced pluripotent stem cells (iPSCs). With cutting-edge solutions such as their patented technology, RxCell is consistently charting new territory in regenerative medicine. Further information can be accessed at https://www.rxcellinc.com/.
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