PRESS RELEASE

Rhode Island Life Science Hub Awards Funding to Eight Life Science Companies Launching and Relocating to Rhode Island

$4.5 million in RILSH grants marks latest investment in high-growth life sciences sector

PROVIDENCE, R.I. – November 19, 2025 – The Rhode Island Life Science Hub (RILSH), the state-supported organization dedicated to growing Rhode Island’s life sciences ecosystem, today announced the investment of an additional $4.5 million in strategic, nondilutive investments to companies driving scientific and commercial innovation in the state. With these commitments, RILSH has now deployed more than $20 million since its inception. 

RILSH’s latest funding cohort includes companies that were conceptualized and scaled in Rhode Island, as well as several that are establishing new headquarters in the state. Collectively, these companies are advancing breakthrough work across neuroscience, oncology, women’s health, regenerative medicine, and next-generation medical technologies.

“These investments underscore the momentum building across Rhode Island’s life sciences sector and the growing number of companies choosing to advance their work here, a reflection of Rhode Island’s emergence as a competitive destination for global biotech innovation, attracting new talent, and driving long-term economic growth for the State,” said Dr. Mark A. Turco, President and CEO of RILSH.

“These latest investments further strengthen Rhode Island's position in one of the fastest-growing sectors of the economy,” said Rhode Island Governor Dan McKee. “By supporting companies that are choosing to build and scale here, we’re attracting new jobs, strengthening our tax base, and positioning Rhode Island as a serious player in the life sciences market. This is the kind of targeted economic development that delivers real returns for our communities, drives private investment, and keeps Rhode Island’s momentum moving in the right direction.”



New Business Attraction grant awardees (to build a Rhode Island presence for established companies) include:

• Lyora Therapeutics – This Massachusetts-based biotech company is developing novel genetic medicines for inherited retinal degenerations (IRDs) and hearing disorders; receiving support to establish a presence in Rhode Island and advance technology development. The founding team comprises world-class scientists excited to grow Lyora Therapeutics in Rhode Island.

• SymPhysis Medical – A medical device company developing and advancing the releaze™ Drainage System as a platform for treating fluid build-up in the chest (pleural effusions). The goal is to improve the quality of life and provide independence for these terminally ill patients. This Galway, Ireland-based company is receiving support to establish a Rhode Island presence, and accelerate its technology and market development efforts.

• Origyn Solutions – A Venture Studio focused on accelerating medtech innovation in the field of women’s health, is receiving support to relocate its portfolio technologies and company headquarters to Rhode Island. Origyn Solutions is currently based in Massachusetts.



• p53-Therapeutics – A biotech company that recently announced it would be part of the Ocean State Labs incubator in the 195 District. p53-Therapeutics is developing a new class of small-molecule cancer therapeutics targeting mutations in the p53 tumor suppressor gene; and is receiving funding to establish Rhode Island headquarters and advance IND-enabling work. 

New companies receiving RI Innovation Bridge Grants to fill critical gaps in the technology development lifecycle include:



• Homer Therapeutics – A biotech company developing RNA-targeting therapeutics for select oncology indications and other high-unmet need diseases; receiving support for early-stage development milestones and establishment of an RI base.

• Liseva Bio – an innovative biotech company advancing its Liseva Cellular Armor Technology (LCAT), a breakthrough immune cell therapy platform that enhances the survival, function, and anti-tumor activity of T cells and NK cells to fight treatment-resistant solid tumors; awarded funding to support key early-stage milestones.



• EnkaBio Inc. – A company that is advancing orthopedic medicine by developing Celluvoir, a first-of-its-kind cell-based therapy designed to repair meniscus tears with superior healing and long-term joint protection compared to standard suture repair; receiving funding to support early-stage milestones and company development.

A RI Lift Grant for prototype development was also awarded to SMOLTAP, Inc., a Providence-based medical technology startup developing a Class I (510k exempt) device to aid in infant and neonatal lumbar puncture (spinal tap) procedures.

“Each awardee represents an area of the life sciences where Rhode Island has the talent, infrastructure, and research leadership to compete and lead. By supporting these companies at pivotal stages of development, RILSH is helping accelerate breakthroughs that will ultimately improve patient care while strengthening our commitment to building a world-class innovation ecosystem right here in the Ocean State,” Turco added.

This latest round of funding builds on Rhode Island’s recent momentum in attracting and scaling life science companies—most notably Organogenesis, VeinTech and Expanse Medical among others, which announced plans to relocate and grow operations in the state. These successes complement Rhode Island’s regional and international business attraction efforts and reflect the state’s growing strategic technology clusters in women’s health, cell and gene therapies, cancer, regenerative medicine, and medical devices.

This latest cohort of investments reflects RILSH’s continued commitment to strengthening Rhode Island’s life sciences economy. Together, these investments expand the state’s research capacity, advance commercialization efforts, and contribute to sustained growth across the sector.

Final disbursement of funds is contingent on execution of standard milestone-based agreements between each company and the Rhode Island Life Science Hub.

###

About the Rhode Island Life Science Hub: The Rhode Island Life Science Hub positions the state to deliver on a bold vision of transforming Rhode Island into a globally recognized life science innovation hub by coalescing existing stakeholders, activities, and investments while building new capabilities. Through an initial three-year, $45 million investment, the Hub will serve as the central and coordinating organization facilitating the development of medical advances and scientific breakthroughs by supporting companies that specialize in life sciences. For more information, please visit www.rilifescience.com. 

FOR IMMEDIATE RELEASE

November 19, 2025

Media Contact:

Sarah Sutton

(518) 932-3680

sarah@endurancepr.com