Revelation Biosciences raises $4.4 million for development of REVTx‑99 intranasal PHAD

Revelation Biosciences said that it has closed a private placement financing with gross proceeds of $4.4 million that it plans to use for development of two pipeline products, including its REVTx-99 intranasal phosphorylated hexaacylated disaccharide (PHAD). REVTx-99 is in development for the treatment of viral respiratory infections, including COVID-19.

 In November 2020, Revelation announced the initiation of a Phase 1 trial of REVTx-99 and noted its intention to initiate a Phase 2 study of REVTx-99 in COVID-19 patients at risk of being hospitalized sometime in the first half of 2021.

According to Revelation, some of the funds will be used to explore possible additional indications for REVTx-99. The other product set to benefit from the new funding is REVTx-501, a diagnostic for viral respiratory infections. The press release did not mention any intended use of the funds for development of REVTx-200, another intranasal candidate listed on the company’s web site that is described as “is an intranasal immunomodulator adjunct to be used in combination with an intramuscular vaccination for more complete immunity” that is “based on the same technology used in REVTx-99.”

Read the Revelation Biosciences press release.