Refoxy Pharmaceuticals secures €9.1 million seed financing

Top investors: Boehringer Ingelheim Venture Fund and Apollo Health Ventures support innovative biotech solution.

Cologne, December 4, 2024 - Refoxy Pharmaceuticals GmbH, a biotech company developing novel activators of the transcription factor FOXO3 for the treatment of age-related diseases, has closed a €9.1 million seed financing round. The round is led by Boehringer Ingelheim Venture Fund (BIVF) and supported by Apollo Health Ventures, NRW.Venture and High-Tech Gründerfonds (HTGF).

The activation of FOXO3 is a promising new approach that could open up urgently needed treatment prospects for patients with IPF.

Dr. Niklas Czeloth, Investment Manager at BIVF

The fresh capital will go towards the preclinical development of Refoxy's lead program for the treatment of Idiopathic Pulmonary Fibrosis (IPF) and the expansion of the platform for additional age-related diseases.

IPF: A serious, age-related disease

IPF is a chronic, fatal lung disease characterized by progressive scarring of the lung tissue and affects around three million people worldwide. Current treatment options are limited, which makes the search for innovative approaches all the more urgent.

Refoxy addresses this challenge by using FOXO3, a gene associated with longevity and improved stress resistance, as a therapeutic target. "Activating FOXO3 has the potential to affect multiple biological levels and thus slow down disease progression," explains Dr. Victor Bustos, co-founder and CEO of Refoxy.

Leading technology and a strong team

Refoxy relies on the F.act Finder (FOXO activator finder) platform developed by Prof. Wolfgang Link, an expert in FOXO3. This proprietary technology enables the identification of FOXO3 activators whose efficacy has already been demonstrated in preclinical IPF models.

With F.act Finder, we bring precision and innovation to the development of FOXO3 enhancers. This gives us confidence that we can effectively address IPF and other age-related diseases

Dr. Victor Bustos, co-founder and CEO of Refoxy

Strong support from leading investors

In addition to the new funding, Refoxy's Board of Directors is strengthened with experienced experts from the biotech and investment industry, including representatives from Apollo Health Ventures, NRW.Venture and HTGF.

As co-investors, we are excited to work with such a strong team and experienced partners to advance Refoxy's pipeline for fibrotic diseases and beyond

Dr. Anela Vukoja, Principal at Apollo Health Ventures

Johanna Antonie Tjaden-Schulte from NRW.Venture adds: "Refoxy is an example of how targeted funding gets innovative ideas 'Made in NRW' off the ground."