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ReAlta Life Sciences: Raises $20M in Series A3 Financing

April 29, 2021

ReAlta Life Sciences, Inc., a Norfolk, Va.-based clinical stage biotech company, closed a $20m Series A3 financing
The round was led by Marathon Pharma, with participation from existing investors and new, undisclosed investors
The company intends to use the funds to advance multiple programs addressing ALI and HIE, including lead candidate RLS-0071, into Phase 2 clinical trials
ReAlta is advancing RLS-0071, which is in development to address hospital-based acute inflammatory conditions, including acute lung injury (ALI) and severe birth asphyxia or hypoxic ischemic encephalopathy (HIE)
The company is currently conducting a Phase 1 trial in healthy volunteers for RLS-0071, as well as a separate proof of concept study to evaluate RLS-0071 as a therapy for ALI in hospitalized COVID-19 subjects
In addition, ReAlta is advancing the second compound emerging from its proprietary EPICC technology platform, RLS-0088, through IND-enabling studies later this year