Alembic Pharma buys 20% stake in US biotech co RIGImmune

Vadodara-headquartered Alembic Pharma has made a strategic investment in Branford, Connecticut (US)-based RIGImmune, a biopharmaceutical research company co-founded by two Yale University professors that's focused on the development of novel treatments for RNA viruses. Alembic has acquired preferred stock in RIGImmune amounting to a 19.97% post-money stake in the first closing of the seed round that was completed recently. RIGImmune, founded by Dr. Anna Pyle and Dr. Akiko Iwasaki, aims to develop RNA-based therapies for viral diseases and oncology applications by targeting the innate immune target, RIG-I. It will use the proceeds of the to further the development of therapeutic oligonucleotides developed by Pyle and Iwasaki.