Double breath of fresh air for Triangle startup: $15M in new cash, fast track status for treatment
Source | TechWire
By WRAL TechWire | April 3, 2023
CHAPEL HILL – Startup Renovion, its marketing slogan “Restoring Lung Health One Breath at a Time,” has gotten two doses of fresh air for its treatment efforts.
The company disclosed some $15 million in new equity capital from 24 investors in an SEC filing.
And shortly thereafter Renovion disclosed that it had received “fast track designation” from the FDA for its treatment called ARINA-1.
Renovion also is advancing a clinical trial for the drug, which aims to prevent bronchiolitis obliterans syndrome (BOS) progression in adults with a bilateral lung transplant. “The FDA grants Fast Track designation to facilitate the development and expedite the review of medicines to treat serious conditions and fill an unmet medical need,” the company noted.
Among the company’s backers is the COPD [chronic obstructive pulmonary disease] Foundation.
“ARINA-1 has been shown to have significant mucolytic activity, as well as robust anti-inflammatory properties,” said Carolyn Durham, Chief Scientific Officer of Renovion.
“Mucus and inflammation are hallmarks of NCFBE, and by directly targeting mucus and inflammation with a therapy nebulized directly to the airway, ARINA-1 has the potential to change the course of disease for these patients and alleviate mucus symptoms. Currently, there are no FDA-approved therapies for treating NCFBE and its associated mucus symptoms.”