SUNNYVALE, Calif.--(BUSINESS WIRE)--Apr 22, 2024--
Rubedo Life Sciences, a biopharmaceutical company committed to developing first-in-class therapies targeting senescent cells which drive age-related diseases, today announced the closing of a $40M Series A financing round. The round was led by Khosla Ventures and Ahren Innovation Capital, with participation from Hevolution, R42, Modi Ventures, Cerigo Investments, Shanda Group, Refactor Capital, LongeVC, Italian Angels for Growth (IAG), and other investors.
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The funding will be used to advance the company’s lead candidate RLS-1496 in chronic atopic dermatitis and chronic psoriasis, which will be entering Phase 1 studies. Rubedo is also developing additional therapies that selectively target senescent cells in pulmonary diseases with significant unmet medical need, such as idiopathic pulmonary fibrosis (IPF), with a program recipient of a substantial CIRM grant last year.
“We’re delighted to attract this top-tier syndicate co-led by Khosla Ventures and Ahren Innovation Capital. This significant influx of financing will allow us to advance our first clinical candidate into human studies,” said Marco Quarta, CEO & Co-Founder of Rubedo Life Sciences.
“As people live longer, improving quality of life is paramount,” said Alex Morgan, Partner, Khosla Ventures. “Rubedo is targeting senescent, or aging, cells that drive age-related diseases. This first trial can bring us another step closer to achieving better healthspan.”
“Our mission is to invest in transformational companies that will change the world for the better, serving vast markets,” said Alice Newcombe Ellis, Founding & General Partner, Ahren Innovation Capital. “We believe that Rubedo’s transformative approach to targeting senescent cells is an impressive step towards the development of chronic age-related therapies, which will advance biotech from treatment to prevention or disease reversal.”
“The significant experience and capital that our investors bring to Rubedo will help the company rapidly advance our programs,” said Ali Siam, Chief Business Officer, Rubedo Life Sciences. “We look forward to working with these leaders, whose vast experience in clinical development will be invaluable as we enter the next phase of growth at Rubedo.”
Rubedo’s Alembic™ drug discovery platform enables the identification of specific druggable targets for development into therapeutics that selectively target pathologic cells, such as various types of senescent cells, that drive the process of biological aging. Senescence is the process by which a cell ages and permanently stops dividing but does not die. Any cell can potentially become senescent. Over time, large numbers of senescent cells can build up in tissues throughout the body and release pathologic factors. When they reach a critical mass, they cause chronic inflammation and damage leading to fibrosis and tissue degeneration which drive many age-related diseases.
About Rubedo Life Sciences
Rubedo Life Sciences is a biopharmaceutical company developing a broad portfolio of innovative therapies engineered to target cells which drive chronic age-related diseases. Our proprietary ALEMBIC™ drug discovery platform has engineered novel first-in-class small molecules designed to selectively target various types of senescent cells, which play a key role in the progression of pulmonary, dermatological, oncological, neurodegenerative, fibrotic and other chronic disorders. The Rubedo leadership team is composed of industry leaders and early pioneers in chemistry, technology, and life sciences, with expertise in drug development and commercialization from both large pharma and leading biotech companies. The company is based in Sunnyvale, CA. For additional information, visit www.rubedolife.com.
Rubedo Life Sciences scientists. Photo credit: ALESSANDRO GANDOLFI
ALGIERS, Algeria (AP) — Algerians voted Saturday in an election to decide whether army-backed President Abdelmadjid Tebboune gets another term in office — five years after pro-democracy protests prompted the military to oust the previous president after two decades in power.
There is little suspense about the result with Tebboune expected to win easily. The question is more about how many voters cast ballots.
Tebboune said after voting that he hoped “whoever wins will continue on the path towards a point of no return in the construction of democracy.”
Polls closed late Saturday and vote counting was underway as Algerians awaited an announcement of the results. The country's election authority at 12:10 a.m. said that vote counting to so far suggested voter turnout was 48% in Algeria and 19.6% for precincts abroad — outpacing the country’s 2019 presidential election, where 39.9% of voters turned out to vote.
It's unclear whether Tebboune will consider such a figure a triumph. In the lead-up to Saturday, his backers and rivals all urged Algerians to come out and vote after boycotts and high abstention rates in previous elections marred the government's ability to claim popular support.
Algeria is Africa's largest country by area and, with almost 45 million people, it's the continent's second most populous after South Africa to hold presidential elections in 2024 — a year in which more than 50 elections are being held worldwide, encompassing more than half the world's population.
The campaign — rescheduled earlier this year to take place during North Africa's hot summer — was characterized by apathy from the population, which continues to be plagued by a high cost of living and drought that brought water shortages to some parts of the country.
“Uncle Tebboune," as his campaign called the 78-year-old, was elected in December 2019 after nearly a year of weekly “Hirak” demonstrations demanding the resignation of former President Abdelaziz Bouteflika. Their demands were met when Bouteflika resigned and was replaced by an interim government of his former allies, which called for elections later in the year.
Protesters opposed holding elections so soon, fearing the candidates running that year were close to the old regime and would derail dreams of a civilian-led, non-military state. Tebboune, a former prime minister seen as close to the military, won. But his victory was stained by boycotts and election day tumult.
Throughout his tenure, Tebboune has used oil and gas revenue to boost some social benefits — including unemployment insurance as well as public wages and pensions — to calm discontent. To cement his legitimacy, Tebboune hopes more of the country's 24 million eligible voters participate in Saturday's election than in his first election when only 39.9% voted.
Many Algerians remain unconvinced that elections will usher in change.
Activists and international organizations, including Amnesty International, have railed against how authorities continue prosecuting those involved in opposition parties, media organizations and civil society groups.
Some have denounced this election as a rubber stamp exercise that can only entrench the status quo.
“Algerians don’t give a damn about this bogus election,” said former Hirak leader Hakim Addad, who was banned from participating in politics three years ago. “The political crisis will persist as long as the regime remains in place. The Hirak has spoken.”
Twenty-six candidates submitted preliminary paperwork to run in the election, although only two were ultimately approved to challenge Tebboune.
Both avoided directly criticizing Tebboune on the campaign trail and, like the incumbent, emphasized election participation.
Abdelali Hassani Cherif, a 57-year-old head of the Islamist party Movement of Society for Peace, made populist appeals to Algerian youth, running on the slogan “Opportunity!” Youcef Aouchiche, a 41-year-old former journalist running with the Socialist Forces Front, or FFS, campaigned on a “vision for tomorrow.”
Both challengers and their parties risked losing backing from supporters who thought they were selling out by giving the impression the election was democratic and contested.
Walking near a vote center in downtown Algiers, longtime FFS supporter Mhand Kasdi said his party had betrayed its ideals by putting forth a candidate for the first time since 1999.
“It is giving its backing to a rigged election,” the 55-year-old gas station manager said, adding that Aouchiche and Hassani “are going to help make the regime's candidate look good."
Voting in his hometown Saturday, Aouchiche called on Algerians to vote for him “to give young people the confidence to put an end to the despair that drives them to take the boats of death in an attempt to reach the other side of the Mediterranean,” referring to those who migrate to Europe.
Andrew Farrand, the Middle East and North Africa director at the geopolitical risk consultancy Horizon Engage, said both challengers were looking more at the 2025 legislative elections than this 2024 presidential contest. Because Algerian law funds political parties based on the number of seats they win in legislative elections, they hope campaigning now positions them for a strong 2025 performance.
“It’s a long game: How can I mobilize my base? How can I build up a campaign machine? And how can I get into the good graces of the authorities so that I can be in a position to increase my seats?” he said. “We’ve seen that in their choice not to overtly criticize president … paired with a very strong message to Algerians to come out and vote.”
Presidential candidate of the Movement of Society for Peace (MSP), Abdelali Hassani Cherif, prepares to cast his ballot inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Presidential candidate of the Movement of Society for Peace (MSP), Abdelali Hassani Cherif, prepares to cast his ballot inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Presidential candidate and leader of the FFS party, Youcef Aouchich, casts his ballot inside a polling station during the presidential elections, Saturday, Sept. 7, 2024, in Tizi Ouzou, Algeria. (AP Photo)
Algerian president and candidate for re-election Abdelmajid Tebboune speaks after casting his ballot inside a polling station during the presidential elections, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo)
Election officials wait for voters inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A voter prepares to cast his ballot inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A voter prepares to cast her ballot inside a polling station during the presidential elections, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A voter prepares to cast his ballot inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Ballots showing presidential candidates inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A ballot showing Algerian president and candidate for re-election Abdelmajid Tebboune, inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Ballots showing the three presidential candidates are placed on a table inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Anis Belghoul)
A voter prepares to cast her ballot inside a polling station during the presidential elections, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Election officials wait for voters inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A voter poses for a photo with her inked finger after casting her ballot inside a polling station during the presidential elections, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
CORRECTS DATE - A voter prepares to cast his ballot inside a polling station during the presidential election, Saturday, Sept. 7, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
A man walks past electoral banners of presidential candidate, including President Abdelmadjid Tebboune, center, Tuesday, Aug. 27, 2024, in Algiers, Algeria. (AP Photo/Fateh Guidoum)
Algerian president and candidate for re-election Abdelmajid Tebboune delivers a speech during his campaign for the upcoming presidential election, in Oran, Algeria, Sunday, Aug. 26, 2024. (AP Photo/Str)
