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Rubedo Life Sciences Closes $40M Series A Financing Led by Khosla Ventures and Ahren Innovation Capital

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Rubedo Life Sciences Closes $40M Series A Financing Led by Khosla Ventures and Ahren Innovation Capital
News

News

Rubedo Life Sciences Closes $40M Series A Financing Led by Khosla Ventures and Ahren Innovation Capital

2024-04-22 20:01 Last Updated At:20:10

SUNNYVALE, Calif.--(BUSINESS WIRE)--Apr 22, 2024--

Rubedo Life Sciences, a biopharmaceutical company committed to developing first-in-class therapies targeting senescent cells which drive age-related diseases, today announced the closing of a $40M Series A financing round. The round was led by Khosla Ventures and Ahren Innovation Capital, with participation from Hevolution, R42, Modi Ventures, Cerigo Investments, Shanda Group, Refactor Capital, LongeVC, Italian Angels for Growth (IAG), and other investors.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240422384739/en/

The funding will be used to advance the company’s lead candidate RLS-1496 in chronic atopic dermatitis and chronic psoriasis, which will be entering Phase 1 studies. Rubedo is also developing additional therapies that selectively target senescent cells in pulmonary diseases with significant unmet medical need, such as idiopathic pulmonary fibrosis (IPF), with a program recipient of a substantial CIRM grant last year.

“We’re delighted to attract this top-tier syndicate co-led by Khosla Ventures and Ahren Innovation Capital. This significant influx of financing will allow us to advance our first clinical candidate into human studies,” said Marco Quarta, CEO & Co-Founder of Rubedo Life Sciences.

“As people live longer, improving quality of life is paramount,” said Alex Morgan, Partner, Khosla Ventures. “Rubedo is targeting senescent, or aging, cells that drive age-related diseases. This first trial can bring us another step closer to achieving better healthspan.”

“Our mission is to invest in transformational companies that will change the world for the better, serving vast markets,” said Alice Newcombe Ellis, Founding & General Partner, Ahren Innovation Capital. “We believe that Rubedo’s transformative approach to targeting senescent cells is an impressive step towards the development of chronic age-related therapies, which will advance biotech from treatment to prevention or disease reversal.”

“The significant experience and capital that our investors bring to Rubedo will help the company rapidly advance our programs,” said Ali Siam, Chief Business Officer, Rubedo Life Sciences. “We look forward to working with these leaders, whose vast experience in clinical development will be invaluable as we enter the next phase of growth at Rubedo.”

Rubedo’s Alembic™ drug discovery platform enables the identification of specific druggable targets for development into therapeutics that selectively target pathologic cells, such as various types of senescent cells, that drive the process of biological aging. Senescence is the process by which a cell ages and permanently stops dividing but does not die. Any cell can potentially become senescent. Over time, large numbers of senescent cells can build up in tissues throughout the body and release pathologic factors. When they reach a critical mass, they cause chronic inflammation and damage leading to fibrosis and tissue degeneration which drive many age-related diseases.

About Rubedo Life Sciences

Rubedo Life Sciences is a biopharmaceutical company developing a broad portfolio of innovative therapies engineered to target cells which drive chronic age-related diseases. Our proprietary ALEMBIC™ drug discovery platform has engineered novel first-in-class small molecules designed to selectively target various types of senescent cells, which play a key role in the progression of pulmonary, dermatological, oncological, neurodegenerative, fibrotic and other chronic disorders. The Rubedo leadership team is composed of industry leaders and early pioneers in chemistry, technology, and life sciences, with expertise in drug development and commercialization from both large pharma and leading biotech companies. The company is based in Sunnyvale, CA. For additional information, visit www.rubedolife.com.

Rubedo Life Sciences scientists. Photo credit: ALESSANDRO GANDOLFI

Rubedo Life Sciences scientists. Photo credit: ALESSANDRO GANDOLFI

LOUISVILLE, Ky. (AP) — Rep. Thomas Massie’s role in the failed bid to oust House Speaker Mike Johnson didn’t harm his standing with Republican voters in his Kentucky district, where he easily won his primary election on Tuesday in the conservative stronghold.

Massie far outdistanced challengers Eric Deters and Michael McGinnis to maintain his hold on the seat representing the 4th District, which stretches across northern Kentucky. With no Democratic opponent in the fall, Massie’s primary victory cleared his way to claim another term in November.

The libertarian-leaning congressman said his victory amounted to a “referendum on thousands of independent votes I have cast in Washington, D.C., on behalf of Kentucky’s 4th District.”

“I want to thank the voters for trusting me to represent them again, and I look forward to continuing our fight for personal liberty, economic freedom, fiscal responsibility and constitutionally limited government,” Massie said in a statement.

Elsewhere, the dean of Kentucky’s congressional delegation, Republican Rep. Hal Rogers, easily defeated three challengers in the 5th District covering eastern and parts of southern Kentucky. No Democrat is running for the seat. Rogers is a senior member of the powerful House Appropriations Committee, which positions him to steer federal money back to his Appalachian district.

Rep. Morgan McGarvey, the state’s only Democratic congressman, coasted to victory over two opponents in the Louisville-area 3rd District. In November, he'll be challenged by Republican Mike Craven, who won his primary in the Democratic-leaning district.

Republican Rep. James Comer, chairman of the House Oversight Committee, will be opposed by Democrat Erin Marshall after both were unopposed in the 1st District primary. The Bluegrass State’s other congressmen — Republicans Brett Guthrie and Andy Barr — were unopposed in the primary.

Massie’s congressional race drew attention for his reputation of defying his party’s leaders — from then-President Donald Trump to the House speaker — without being punished by his constituents.

Massie aligned with fellow Republican Rep. Marjorie Taylor Greene in the recent attempt to remove Johnson from his post as speaker. Massie co-sponsored Greene’s ouster resolution, which was overwhelmingly rejected by their colleagues.

Before the primary, Massie sounded unconcerned about any blowback from voters for trying to remove the speaker — nicknamed “MAGA Mike Johnson” by Trump. The former president remains enormously popular in the district.

“It’s a lot of inside baseball and ultimately, because he’s still the speaker, I think a lot of people don’t care,” Massie said last week.

Four years ago, Massie drew Trump’s wrath when the congressman singlehandedly caused a delay in passing a massive COVID-19 relief package. Trump called the Kentuckian a “third rate Grandstander.”

An unapologetic Massie said he tried to hold up what he considered to be an unconstitutional vote for a wasteful bill. Massie deflected Trump’s jabs by joking he was at least “second rate” as a grandstander.

Despite the presidential smackdown, Massie cruised to reelection that year. Two years later, Massie picked up the former president’s endorsement on his way to another reelection victory.

“They still appreciate somebody who will come up here and vote the way he believes is best, even if it’s at odds with Trump sometimes,” Massie said of his constituents. “So that’s sort of my brand at this point.”

In another twist, Massie supported Florida Gov. Ron DeSantis’ failed bid for the White House, again risking Trump’s anger. The ex-president didn’t give an endorsement in Massie’s primary race this year.

Massie's challengers included Deters, a former gubernatorial candidate who played up his steadfast support for Trump and portrayed Massie as a “goofball” lacking accomplishments in Congress.

Since joining Congress in late 2012, Massie has been known as an avid deficit hawk and staunch gun-rights supporter. In a recent post on the social platform X, Massie wrote: “America is on a path that won’t end well. We are borrowing money at an unsustainable rate, accumulating enemies through endless war, and eroding rights like free speech & privacy.”

Kentucky’s most contentious campaign in the fall is likely to be over a proposed constitutional amendment that would allow taxpayer money to flow to private or charter schools. If it is ratified by voters, state lawmakers could then decide whether to support private or charter school education with public funds. The state's popular Democratic governor, Andy Beshear, will align with the Kentucky Education Association, a group representing tens of thousands of public school educators, in opposing the measure.

FILE - Committee Chairman Rep. Hal Rogers, R-Ky., listens to the testimony of Attorney General Merrick Garland during House Committee on Appropriations, Subcommittee on Commerce, Justice, Science, and Related Agencies budget hearing on Capitol Hill, Monday, April 15, 2024, in Washington. Kentucky voters go to the polls for the primary election on Tuesday, May 21, 2024. Republican Rep. Rogers, faced three primary election challengers in the 5th District, which covers eastern and parts of southern Kentucky. (AP Photo/Kevin Wolf, File)

FILE - Committee Chairman Rep. Hal Rogers, R-Ky., listens to the testimony of Attorney General Merrick Garland during House Committee on Appropriations, Subcommittee on Commerce, Justice, Science, and Related Agencies budget hearing on Capitol Hill, Monday, April 15, 2024, in Washington. Kentucky voters go to the polls for the primary election on Tuesday, May 21, 2024. Republican Rep. Rogers, faced three primary election challengers in the 5th District, which covers eastern and parts of southern Kentucky. (AP Photo/Kevin Wolf, File)

FILE - Democrat Morgan McGarvey speaks to supporters in Louisville, Ky., Tuesday, Nov. 8, 2022, after the won the race for the state's 3rd Congressional District. Kentucky voters go to the polls for the primary election on Tuesday, May 21, 2024. Rep. McGarvey, the state’s only Democratic congressman, has two opponents in the Louisville-area 3rd District. (AP Photo/Timothy D. Easley, File)

FILE - Democrat Morgan McGarvey speaks to supporters in Louisville, Ky., Tuesday, Nov. 8, 2022, after the won the race for the state's 3rd Congressional District. Kentucky voters go to the polls for the primary election on Tuesday, May 21, 2024. Rep. McGarvey, the state’s only Democratic congressman, has two opponents in the Louisville-area 3rd District. (AP Photo/Timothy D. Easley, File)

FILE - Rep. Thomas Massie, R-Ky., speaks during a TV news interview at the Capitol in Washington, Friday, Jan. 12, 2024. Fresh off his role in a failed attempt to topple the House speaker, Republican Rep. Massie downplayed any political fallout back home in Kentucky as he looked to maintain his dominance in his solidly conservative district as Bluegrass State voters headed to the polls Tuesday, May 21, 2024. (AP Photo/J. Scott Applewhite, File)

FILE - Rep. Thomas Massie, R-Ky., speaks during a TV news interview at the Capitol in Washington, Friday, Jan. 12, 2024. Fresh off his role in a failed attempt to topple the House speaker, Republican Rep. Massie downplayed any political fallout back home in Kentucky as he looked to maintain his dominance in his solidly conservative district as Bluegrass State voters headed to the polls Tuesday, May 21, 2024. (AP Photo/J. Scott Applewhite, File)

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