Rinri Therapeutics Raises £10 million from Existing Investors and UK Future Fund to Advance its Novel Stem Cell Therapy to Restore Hearing Loss

Dr Simon Chandler, CEO of Rinri Therapeutics, commented: "We are very pleased to receive continuing support from existing investors alongside matched funding from the UK Future Fund. Our major investors share the vision we have for our technology to bring transformational changes to the lives of patients suffering from hearing loss, and the proceeds from this fund raising will allow us to advance our pioneering journey towards first in man clinical trials and to ultimately realise the potential of stem cell therapy to reverse sensorineural hearing loss."

SHEFFIELD, England, 20/04/2021 (informazione.news - comunicati stampa - scienza e tecnologia)

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The UK Future Fund, launched in April 2020 , issues convertible loans to private UK companies with good potential that typically rely on equity investment and are currently affected by COVID-19. The scheme is designed by UK government and delivered by the British Business Bank.

Rinri Therapeutics is a private biotechnology company developing advanced stem cell-based therapeutics to restore hearing. The company's pioneering technology seeks to reverse sensorineural hearing loss (SNHL) through the repair of the damaged cytoarchitecture in the inner ear. SNHL is estimated to affect 64 million patients in the US and 34 million in Europe . There are currently no pharmacological treatment options for SNHL patients.

Rinri, is backed by Boehringer Ingelheim Venture Fund (BIVF), UCB Ventures, BioCity and the University of Sheffield . Rinri was founded in late-2018 and is headquartered in Sheffield, UK .

For more information, please visit: www.rinri-therapeutics.com

Rinri Therapeutics
Dr Simon Chandler , CEO
admin@rinri-therapeutics.com

Citigate Dewe Rogerson
Sylvie Berrebi , Frazer Hall
E: rinri@citigatedewerogerson.com
T: +44 (0)20 7638 9571