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Seattle-based biotech startup, Rodeo Therapeutics, working on tissue regeneration has now reportedly raised $5.9 million in a series A financing round with a list of VC and biopharma all-stars as backers.

Investors included AbbVie Ventures, Alexandria Venture Investments, ARCH Venture Partners, Lilly, Johnson & Johnson Innovation, the Watson Fund, WRF Capital and WuXi AppTec.

The fund is expected to go into the upstart’s preclinical work on small-molecule therapies designed to encourage regeneration and repair of multiple tissue types.

The company will be largely managed by Seattle-based biotech investment firm Accelerator Corporation, alongside its founders, under a virtual model.
Rodeo’s work majorly focuses on boosting tissue levels of prostaglandin PGE2, since it believes that increasing PGE2 through inhibition of a prostaglandin-degrading enzyme (15-PGDH) speeds up hematopoietic stem cell reconstitution following bone marrow transplant, protecting against colitis and additionally promoting liver regeneration in a variety of animal models.

“Tissue damage and degradation play critical roles in the development and progression of a broad array of disease indications, including a variety of inflammatory diseases,” said Markowitz.“The ability to stimulate the body’s natural processes for tissue regeneration and repair has broad therapeutic potential in disease settings such as ulcerative colitis and in hemopoietic recovery following bone marrow transplantation.”

“By leveraging Accelerator’s capabilities, Rodeo will be highly focused on achieving key value-building scientific milestones, while the Accelerator management team handles all aspects of business management and scientific oversight. In addition to Rodeo’s interim management, the company will utilize highly talented and capable consultants in the areas of chemistry, biology and early preclinical development, with deep knowledge in drug development.” Explains David Schubert, chief operating officer of Accelerator.

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