Alembic Pharma announces seed round investment in RIGImmune

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Vadodara-based Alembic Pharmaceuticals has made a strategic investment in RIGImmune, a biopharmaceutical research company co-founded by two prominent Yale University professors Dr Anna Pyle and Dr Akiko Iwasaki.

RIGImmune is focused on the development of RNA based therapies for viral diseases and oncology applications by targeting the innate immune target, RIG-I.

RIGImmune will utilise the proceeds of the series seed round to further the development of therapeutic oligonucleotides developed by Dr Pyle and Dr Iwasaki.

Alembic has acquired preferred stock in RIGImmune amounting to a 19.97 per cent post-money stake in the first closing of the series seed round that was completed recently.