Release Therapeutics SA: Release Therapeutics Secures CHF 3.3 Million in Seed Funding

The funding follows the Company's first preclinical results in metachromatic leukodystrophy and will be invested in studies in non-human primates

GENEVA, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Release Therapeutics ('Release Tx' or 'the Company'), a privately-held, Swiss BioMedTech company, announced today the closure of a CHF 3.3 million Seed financing round with private investors. The financing follows the Company's first preclinical results in animal models of metachromatic leukodystrophy (MLD).

MLD is a rare genetic disorder of the nervous system stemming from a deficiency in the lysosomal enzyme, arylsulfatase A (ARSA); it is most common in toddlers aged 12 to 20 months (late infantile MLD). Tragically, this condition is usually diagnosed after symptoms appear, making it too late to treat with available therapies and resulting in most children being unable to survive past the age of five.¹

Release Tx recently formed a strategic collaboration with the Innovation Unit for Gene and Cell Therapyto assess the impact of the Company's technology in mice presenting symptoms of MLD. The mice were implanted with an analogue of Release Tx's Myo-P deviceand received ARSA enzyme replacement therapy over three months. After three months of treatment, the mice showed reversal of disease progression, suggesting the Company's technology holds great promise in treating symptomatic MLD.²

The results were presented by Dr Françoise Piguet, Head of GENOV, Paris Brain Institute, at the 20th WORLD Symposium for Lysosomal Storage Disorders (LSD) in February 2024, with the abstract published in a recent special issue of Molecular Genetics and Metabolism.³

Release Tx's CEO, Thomas Mehrling, said, "The Seed funding raised by Release Tx testifies to the significance of our collaboration with the Paris Brain Institute and our findings towards treating MLD. The proceeds will be invested immediately in assessing the impact of our technology in non-human primates. With the results expected in autumn 2024, we plan to launch a Series A raise in the final quarter of this year to submit an IND application and get our technology into the clinic as soon as possible."

References

About Release Therapeutics

Headquartered in Geneva, Switzerland, Release Therapeutics is a privately-held, BioMedTech company developing the first cell macroencapsulation technology designed to deliver potent therapeutic proteins beyond the human blood-brain barrier. The Company's proprietary technology integrates an implantable macroencapsulation device with an immortalised myoblast cell line capable of producing a broad range of proteins for long-term delivery to the CNS. Innovating at the nexus of biotech and MedTech, Release Therapeutics is on a mission to treat genetic diseases of the CNS without gene therapy. The company's lead programme is in preclinical development for the treatment of Metachromatic Leukodystrophy (MLD), a rare genetic disorder that leads to progressive loss of myelin and typically affects young children.

For more information, please visit our website: https://www.release-tx.com/

Contacts

Release Therapeutics SA
[e-mail]

Manage Mind Greece (for Release Therapeutics)
Jessica Kourniaktis
Phone: [phone]
Email: [e-mail]