Our lead candidate is a first-in-class, single injection treatment, based on a clinically proven mechanism capable of regenerating cartilage in Osteoarthritis ($38B global market, 9% CAGR).
Remedium has secured Seed financing of $1.2M, filed IP, onboarded KOLs, built the prototypes, and initiated in vitro efficacy studies. The company is currently in the process of finalizing a pivotal academic collaboration that will enable the completion of in vitro, ex vivo, and in vivo efficacy studies. The expanded seed of additional $2.3M will enable a transformational Series A raise in early 2022.
All moderate to severe osteoarthritis patients, excluding bone-on-bone cases can potentially benefit from this technology. Of the $38B Total Addressable Market (TAM) (globally), we believe that $20B is available as the Serviceable Attainable Market (SAM).
Problem or Opportunity
Osteoarthritis (OA) is a debilitating progressive disease affecting 33 million Americans, or 1 in 7 US adults. All currently approved treatments are palliative and many patients end up progressing to joint replacement surgery. OA is a significant burden on patients and society accounting for over $16.5 billion in health care costs and 4.3% of the combined costs for all hospitalizations according to the CDC.
Solution (product or service)
Remedium has patented and built prototypes of an FGF-18 gene therapy, using the clinically proven mechanism of action of FGF-18 and an approved delivery vector. The FGF-18 gene therapy is the only treatment potentially capable of regenerating cartilage in Osteoarthritis after a single injection.
All currently approved treatments are strictly palliative, offering no ability to regenerate cartilage in Osteoarthritis. Furthermore, the effect of most treatments is very minimal, oftentimes showing little improvement over a placebo injection. Only FGF-18 protein injections have been demonstrated to increase cartilage thickness in controlled, randomized clinical trials. However, they require a regimen of 3x-weekly injections every 6 months (indefinitely) to sustain effect. Remedium is developing the only patented gene therapy treatment based on this clinically proven mechanism, creating the potential to regenerate cartilage with a single injection.
Advantages or differentiators
Remedium has the only, single-injection gene therapy based on the clinically proven mechanism of FGF-18. The treatment could potentially enable multi-year (5+) sustained efficacy after a single injection of the therapeutic.
Money will be spent on
Completing in vitro, ex vivo, and in vivo efficacy studies enabling a transformational Series A raise for the company.