CHARLOTTESVILLE, Va., July 20, 2021 /PRNewswire/ -- Rivus Pharmaceuticals, Inc., a biopharmaceutical company dedicated to improving cardio-metabolic health, today announced the completion of a $35 million Series A financing. Rivus is advancing a new class of oral, once daily, small molecule therapeutics called Controlled Metabolic Accelerators (CMAs), designed to improve cellular metabolism and treat the underlying cause of highly-prevalent metabolic and cardiovascular diseases. The round was co-led by Longitude Capital and Medicxi and RxCapital also participated.
"More than 40 million people in the U.S. alone are living with cardio-metabolic disorders, conditions that adversely impact a person's health and quality of life, as well as place significant cost burdens on healthcare systems. While many existing therapeutic options address the downstream effects of metabolic disease, they do little to address the underlying cause – greater consumption of energy than is required by the body, which over time results in inefficient cellular metabolism and the excess accumulation of fat," said Allen Cunningham, President and CEO, Rivus Pharmaceuticals. "Our CMAs are designed to effectively target the root cause of these diseases by improving cellular metabolism with the potential to halt the progress of, or even reverse, these diseases."
CMAs provide a new, measured approach to activating mitochondrial uncoupling, a natural process in the body that regulates and dissipates energy. By ferrying protons out of the mitochondrial intermembrane space, CMAs cue the increased oxidation of sugars and fats, while maintaining the same baseline production of adenosine triphosphate (ATP). Activating this process results in the reduction of accumulated fat and the prevention of additional fat accumulation throughout the body. Rivus is currently conducting a Phase 2a clinical study with its lead CMA therapeutic, HU6. The Series A financing will enable Rivus to advance a pipeline of CMA therapies to treat a range of metabolic conditions including type 2 diabetes, severe hypertriglyceridemia (SHTG), non-alcoholic steatohepatitis (NASH), as well as cardiovascular diseases such as heart failure with preserved ejection fraction (HFpEF).
"We are very encouraged by early clinical results of HU6 and the potential for CMAs to deliver a new and highly-effective approach to improving metabolic health," said Patrick Enright, Managing Director at Longitude Capital. "There is tremendous global potential for CMAs to fundamentally change the therapeutic landscape across a variety of difficult to manage chronic diseases related to metabolic health."
"Rivus has recently completed its Phase 1 program for HU6, and the results exceeded our expectations, demonstrating an early positive impact on key metabolic parameters, while being well-tolerated," said David Grainger, Ph.D., Chief Scientific Advisor at Medicxi. "Phase 2 studies will provide important insights into HU6's efficacy in specific metabolic and cardiovascular diseases with this very promising new therapy, and we are excited to advance these programs in partnership with Rivus."
About Rivus Pharmaceuticals
Rivus Pharmaceuticals, Inc., is dedicated to transforming the treatment of cardio-metabolic disease. Rivus' first-in-class, small molecule therapy, HU6, is a controlled metabolic accelerator (CMA) that addresses the underlying cause of cardio-metabolic disease by harnessing the body's natural processes to improve cellular metabolism. Rivus' therapy presents a tremendous opportunity to empower patients on their journey to better health when facing a broad range of cardio-metabolic conditions, including type 2 diabetes, hypertension, non-alcoholic steatohepatitis (NASH), dyslipidemia and obesity. For more information, please visit www.rivuspharma.com.
About Longitude Capital
Longitude Capital is a leading healthcare venture capital firm that invests in transformative biotechnology, medical technology and health solutions companies seeking to improve clinical outcomes, enhance quality of life, and drive efficiency of healthcare delivery. Founded in 2006, Longitude Capital invests in both privately held and publicly traded companies through a variety of investment approaches. Longitude Capital has offices in Menlo Park, CA, Greenwich, CT, and Boston, MA. For more information, please visit www.longitudecapital.com or LinkedIn.
Medicxi is an international investment firm with the mission to create and invest in companies across the full healthcare continuum. Medicxi was established by the former Index Ventures life sciences team and invests in both early stage and late stage therapeutics with a product vision that can fulfill a clear unmet medical need. GlaxoSmithKline, Johnson & Johnson Innovation - JJDC, Inc., Novartis and Verily (an Alphabet company) are investors in Medicxi funds.
Medicxi's team has been investing in life sciences for over 20 years. Globally, it has invested in 91 innovative biopharma companies and achieved 32 exits through IPO and M&A, including Genmab, PanGenetics (sold to AbbVie), Cellzome (sold to GSK), Micromet (sold to Amgen), Molecular Partners, XO1 (sold to Janssen Pharmaceuticals, Inc.), Minerva Neurosciences, Padlock Therapeutics (sold to Bristol-Myers Squibb), Gadeta (structured transaction with Gilead), Impact BioMedicxines (sold to Celgene) and Adaptive Biotechnologies. Medicxi is also the founding investor of Centessa Pharmaceuticals. Please see https://www.medicxi.com/ for more information.
RxCapital is the venture capital arm of RxCelerate, a leading international out-sourced drug discovery platform based in Cambridge, UK. RxCapital invests in early-stage biotechnology companies with transformative capability and, unlike many CROs, there is no requirement for portfolio companies to use RxCelerate services. RxCapital will invest in any geography, following an asset-centric investment model, deploying up to £1million per investment. For further information, please contact Nick Tait, Chief Financial Officer of RxCelerate Group: [email protected].
SOURCE Rivus Pharmaceuticals, Inc.