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.
The extra capital will enable the firm to develop new therapies that can overcome resistance to current targeted therapies in cancer patients.
While targeted therapies have clearly improved cancer patient outcomes, the global efficacy of these treatments decreases over time as patients rapidly develop resistance to these therapies.
In a bid to address the issue, Ribonexus (previously Aglaia Therapeutics) is developing new oncology therapies to deliver drugs that restore sensitivity to current targeted therapies in cancer patients that have become resistant to these treatments.
The company’s R&D programmes focus on the treatment of melanoma currently. Going forward, it plans to utilise its early-stage oncology pipeline and expertise to assess and expand its programmes beyond melanoma to treat other cancer indications.
The company is also looking to establish a licence agreement with a pharmaceutical and biopharma company based on the clinical data generated through the eIF4A inhibitor programme.
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