Ribon Therapeutics Announces $25 Million Equity Investment from Pfizer
CAMBRIDGE, Mass.–(BUSINESS WIRE). Ribon plans to use the proceeds to support clinical development of its potential first oral small molecule programs in oncology (RBN-2397, a PARP7 inhibitor) and immunology (RBN-3143, a PARP14 inhibitor). As part of the investment, Robert Rickert, Ph.D., Senior Vice President and Head of Cancer Immunology Discovery, Pfizer, will join Ribon’s Scientific Advisory Board.
Separately, Ribon and Pfizer have entered into an agreement to leverage Pfizer’s global development expertise and capabilities to support the advancement of Ribon’s pipeline. Ribon retains economic rights and clinical development control over all of its programs.
“We thank Pfizer for their investment in Ribon and support of our novel approach to developing potential first-in-class treatments targeting pathways to stress support, and we welcome Dr. Rickert on our Scientific Advisory Board,” said Prakash Raman, Ph.D., President and Chief Executive Officer, Ribon Therapeutics. “Pfizer’s capital support and expertise will be critical as we work to advance our lead programs – RBN-2397 in cancer and RBN-3143 in immunology – to key clinical milestones and further drug discovery and development from our proprietary to enable BEACON+ Platform.”
“We believe that Ribon’s pioneering work developing therapeutics targeting stress support pathways represents a potential breakthrough for patients with cancer and inflammatory diseases,” said Dr. Rickert. “I look forward to working with the Ribon team to advance their important clinical programs.”
About Ribon Therapeutics
Ribon Therapeutics is a clinical-stage biotechnology company developing therapeutics targeting novel families of enzymes that are activated under cellular stress conditions that contribute to disease. Ribon’s portfolio includes two oral, potentially first clinical programs, RBN-2397 (a PARP7 inhibitor) and RBN-3143 (a PARP14 inhibitor), with potentially broad indications in oncology and inflammatory diseases, respectively. The company explores new areas of biology with the aim of developing effective treatments for patients with limited therapeutic options.
Leveraging its proprietary BEACON+ (Blocking of the enzyme activity component of NAD+) platform, Ribon is building a pipeline of selective small molecule inhibitors for numerous NADs+-Use of enzymes starting with monoARTs (Mono-ADP-Ribosyltransferase) that have applications in multiple therapeutic areas. Ribon is based in Cambridge, Massachusetts. Visit https://ribontx.com/ for more information.