ProKidney announces the acquisition of inRegen and its affiliate, Twin City Bio, LLC. ProKidney, LLC, was founded by a group of investors led by Pablo Legorreta, the Founder and CEO of Royalty Pharma. ProKidney has been initially capitalized with $75 million to finance the purchase of inRegen and Twin City Bio and to fund the clinical development of inRegen’s Renal Advanced Cell Therapy.
ReACT is an autologous cell therapy in which a small amount of the patient’s own kidney cells is extracted via a conventional biopsy, these cells (including a high proportion of the SIX2 progenitor cell population) are expanded in the lab over 4 to 6 weeks and then re-implanted into the patient’s diseased kidney. The goal of ReACT is to harnesses the body’s intrinsic ability to repair damaged kidney tissues and restore them to native-like organs and tissues. If successful, ReACT has the potential to stabilize or improve renal function in patients with chronic kidney disease (CKD) and delay or eliminate the need for dialysis and organ transplantation.
“We are pleased to announce the acquisition of inRegen,” said Legorreta. “ReACT is one of the most exciting cell therapies currently in development. It holds the great potential to transform standard-of-care for the treatment of renal failure, addressing a large unmet medical need.”
Tim Bertram, CEO of inRegen, stated, “The acquisition by ProKidney and partnership with Pablo Legorreta will provide inRegen with the financial resources and industry contacts to accelerate the development of this personalized novel medicine, bringing it to an underserved patient population. We believe this relationship will greatly improve the likelihood of near term success for this breakthrough therapy.”
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Date: January 21, 2019
Source: Business Journal
