In the news release, Rege Nephro Co., Ltd. Successfully Completes Series B Funding to Accelerate Kidney Disease Therapy Trials, issued 07-Oct-2024 by Rege Nephro CO., Ltd. over PR Newswire, we are advised by the company that the first paragraph, the first sentence, should read "2.5" rather than "25" as originally issued inadvertently. The complete, corrected release follows:

Rege Nephro Co., Ltd. Successfully Completes Series B Funding to Accelerate Kidney Disease Therapy Trials

KYOTO, Japan, Oct. 7, 2024 /PRNewswire/ -- Rege Nephro Co., Ltd. (https://www.regenephro.co.jp/) is excited to announce that the company has successfully developed a funding plan of total approximately 17 million dollar (2.5 billion JPY) in new Series B funding and raised 15 million dollar with the first payment. This significant investment brings the company's total funding to 30 million dollar. The funding round attracted a mix of strategic investors, including DCI Partners Co., Ltd. as a lead investor, JIC Venture Growth Investments Co., Ltd., Nippon Venture Capital CO., Ltd., TOHOKU University Venture Partners Co., Ltd., Golden Asia Fund Ventures Ltd., Mitsui Chemicals, Inc., Global Brain Corporation, Kyoto University Innovation Capital Co., Ltd., JAFCO Group Co., Ltd., Mitsubishi UFJ Capital Co., Ltd., ASAHI KASEI CORPORATION, QB Capital, LLC who recognize the potential of Rege Nephro in delivering new treatments to patients suffering from their diseases. The newly acquired funds will be strategically used to advance the clinical trials of RN-014, our promising treatment in Phase II trials for Autosomal Dominant Polycystic Kidney Disease (ADPKD), and to prepare for clinical trials in the United States. Additionally, the funding will support the completion of preclinical trials for our second innovative product, RN-032, aimed at treating Chronic Kidney Disease (CKD) through cell therapy.

Investor Statements

DCI Partners Co., Ltd.
"We are excited to announce that we are the lead investor in this round of investment from our fund. We are fully committed to supporting the growth of Rege Nephro."

JIC Venture Growth Investments Co., Ltd.
"We strongly believe that his advanced drug discovery research based on Professor Osafune's discoveries will provide new therapeutic solutions for intractable renal diseases."

Kyoto University Innovation Capital Co., Ltd.
"We are delighted that Rege Nephro, which we have supported since before the company was founded, has finally entered the clinical stage. We hope that this funding will accelerate the clinical trials and bring a new therapeutic drug to patients as soon as possible."

JAFCO Group Co., Ltd.
"We hope that this financing will further accelerate Rege Nephro research and development in iPS drug discovery and provide new treatment options for patients suffering from diseases with limited treatment options."

Mitsubishi UFJ Capital Co., Ltd.
"Our continued investment reflects our confidence in Rege Nephro's rapid progress and the potential of Professor Osafune's iPS cell technology to significantly impact medical practice."

Series B investors

About Rege Nephro Co., Ltd.

Rege Nephro Co., Ltd. is a clinical-stage biotech company utilizing induced pluripotent stem cell (iPSC)-based technology from the Center for iPS Cell Research and Application (CiRA), Kyoto University. It is developing therapeutics and cell therapy for kidney, liver, and pancreas diseases.

About RN-014

Tamibarotene, under development for ADPKD, is a retinoic acid receptor (RAR) agonist expected to potently inhibit cyst formation and improve renal function. The Phase II clinical trial began in December 2023. This trial includes a pharmacokinetic (PK) phase and a randomization phase. Various safety measures have been established, including phased patient enrollment, periodic independent safety monitoring, strict criteria for dose reduction and discontinuation of the investigational drug, and criteria for discontinuation of the entire trial. There have been no significant issues at this time.

About RN-032

Cell therapy using NPCs for Chronic Kidney Disease (CKD). Nephron progenitor cells (NPCs) are cells that give rise to nephrons. Rege Nephro has been tried implanting iNPCs (NPCs induced from allogeneic human iPSCs) into the damaged kidneys, and the improvements in renal function have been confirmed in the several mouse experiments.

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SOURCE Rege Nephro CO., Ltd.