Riboxx Pharmaceuticals Secures Nearly €600K on Seedmatch, Overfunds by 597%

With the help of 518 backers and 58 days remaining on its Seedmatch campaign, Riboxx has secured over € 597K in riboxx_logofunding for its startup valued at € 9,616,000. Riboxx has evolved since its founding five years ago as a spinoff from the Medical Faculty of the Technical University of Dresden into a highly professional startup.  Today Riboxx’s drug development goes through several phases, which are divided into two major phases: a preclinical phase and a clinical phase.

riboxx phases

According to the campaign, “The clinical phase takes place in volunteers or patients. The prerequisite for the conduct of the clinical phase are completed work in the preclinical phase. A permit for the conduct of the clinical testing is requested at the Federal Institute for Drugs and Medical Devices (BfArM).Only then will the clinical trial can be initiated. Riboxx has already demonstrated the effectiveness of three different RIBOXXIM-active compounds in the preclinical phase. A consultation at the BfArM has occurred. Producing RIBOXXIM has been performed successfully, as well as the formulation as a solution, to be administered eg. B. RIBOXXIM infusion. The conduct of the clinical testing of RIBOXXIM is coming soon.”

09_Foto_Rohayem_VisionInvented by Dr. med. Hab Jacques Rohayem,  MD / PhD, MSc, MBA., the RIBOXXIM-agent aims to prevent cancer relapse.   Dr. Rohayem is a specialist in microbiology and virology whose work focuses on the detection of viral infections in patients.  According to Seedmatch, “He observed how viral infections lead to a strong activation of immune cells by its medical activities. He came up with the idea to create synthetic genomes of viruses in a test tube and use as an active ingredient for switching on the immune system against cancer. In order to produce the drug, he has developed and patented a unique process. For the invention of the active substance and the procedure Dr. Jacques Rohayem received the prestigious GO-Bio-prize by the German Federal Ministry for Education and Research in 2007 and 2010 with a value of 1.3 million euros each.”

The Riboxx campaign explains how RIBOXXIM works:

“One of the causes for the development of cancer is a weakened immune system. In fact, a healthy body’s cells constantriboxx change may lead to degeneration. Cancer cells are degenerated cells. In a healthy body cancer cells are recognized and eliminated by the immune system. The current treatment measures are aimed at the elimination of cancer cells, either by surgery, chemotherapy, radiotherapy or hormone therapy. However, often after initial treatment, cancer cells remain in the body. These cause cancer relapses. Cancer relapse have a significantly higher mortality rate than the “first” cancer, partly because classical treatment methods such as surgery are not often used successfully. An innovative approach to eliminate these cancer cells is caused by activation of the immune cells of the body against the remaining cancer cells. And so does RIBOXXIM. RIBOXXIM is an immune switch, i.e., turns off the immune system ON. The activation of immune cells follows the inclusion of the active substance RIBOXXIM. The activated immune cells locate the cancer cells in the body and eliminate them. The use of switches for immune treatment of cancer is called immunotherapy. Though this treatment strategy is still in its early phase, several large pharmaceutical companies in the development of this strategy to treat cancer are very active.”

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Riboxx’s management team:

08_Foto_Management_Riboxx-NEU

For more fascinating details about Riboxx, its team, research and financial information, please click here.

 


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