- 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
