Italy-based Resalis Therapeutics has closed a €10 million ($11 million) Series A financing round led by Sunstone Life Science Ventures with participation from existing investors.
The company intends to use the proceeds to initiate and complete the first-in-human Phase I clinical trial and reach Phase II readiness for its lead program, RES-010, in obesity.
RES-010 is a non-coding RNA-based compound designed to provide a disease-modifying approach in obesity with longer-lasting weight reduction and the ability to extend treatment durability in combination with approved therapeutics, such as GLP-1 receptor agonists.
“The successful close of our Series A is an important milestone for Resalis because it will enable us to reach the clinic and to achieve the next significant inflection point with our lead candidate, RES-010. With RES-010 we aim to provide a therapeutic that precisely reduces fat mass in obesity with the potential to extend the durability of existing therapies. We value the trust and support of our new and current investors, and eagerly look forward to this next phase of development,” said Alessandro Toniolo, CEO of Resalis Therapeutics.
In conjunction with the financing, Claus Andersson, General Partner of Sunstone Life Science Ventures, will join Resalis’ Board of Directors. He said: “Preserving muscle mass is key to provide a sustained and meaningful clinical benefit, and we share the team’s vision that this non-GLP1/GIP therapeutic will significantly improve both effect and tolerability of today’s therapies. This investment underscores our belief in the company’s vision and the transformative potential of its lead candidate to make a meaningful impact for obese patients.”
In multiple proof-of-concept studies in large and small animal models, RES-010 has shown the potential to provide a safe and long-lasting therapeutic effect, alone or in combination with approved drugs.