RiverVest News-March 2023

March 2023

RiverVest Co-Leads $75 Million Series A Equity Round for Alleviant Medical

The financing, which was announced on January 26, 2023, will fund a global pivotal trial for safety and efficacy of a no-implant interatrial shunt for heart failure patients. Alleviant was granted approval to start its pivotal trial from the Food and Drug Administration in November 2022.

Heart failure is the leading cause of hospitalizations worldwide. We believe Alleviant is poised to significantly improve the quality of life for millions of heart failure patients for whom there has been a lack of meaningful options.

RiverVest, through RiverVest Venture Fund V, and S3 Ventures co-led the round, along with investors Vensana Capital, Longview Ventures, TMC Venture Fund, Gilmartin Capital, ShangBay Capital, and two undisclosed strategic investors. Concurrent with the investment, RiverVest Managing Director Jay Schmelter joined Alleviant's board of directors.

We are thrilled to be part of this strong investment syndicate supporting Alleviant’s talented, experienced management team as they drive forward this truly innovative technology.

Learn more about Alleviant

Portfolio News

For the latest news, be sure to visit the RiverVest website and follow us on LinkedIn.

Recent announcements include:

W u gen, Inc. Announces CEO Transition – 3/21/2023

Reneo Pharmaceuticals Achieves Target Enrollment in the Pivotal STRIDE Study of Mavodelpar (REN001) in Primary Mitochondrial Myopathies – 3/14/2023

Mirum Pharmaceuticals Announces Label Expansion for LIVMARLI in the United States to Include Infants Three Months of Age and Older – 3/14/2023

Mirum Pharmaceuticals Submits Supplemental New Drug Application to FDA for LIV MARLI in Patients with Cholestatic pruritus in Progressive Familial Intrahepatic Cholestasis– 2/14/2023

Spruce Biosciences Announces $53.6 Million Private Placement Financing - 2/9/2023

Reneo Pharmaceuticals Receives Fast Track Designation from the FDA for Mavodelpar (REN001) in a Genotype of Long-Chain Fatty Acid Oxidation Disorder (LC-FAOD) - 1/31/2023

Alleviant Medical Closes $75M in Financing; ReceivesFDA IDE Approval for Pivotal Clinical Trial - 1/26/2023

Glycomine Announces First Patient Dosed in Phase 2 Clinical Study of GLM101, a Potential Treatment for PMM2-CDG - 1/9/2023

Spruce Biosciences and Kaken Pharmaceutical Announce Strategic Partnership and Exclusive Licensing Agreement to develop and Commercialize Tildacerfont For CAH in Japan - 1/5/2023

Mirum Pharmaeuticals' LIVMARLI (maralixibat) Approved by the European Commission for the Treatment of Cholestatic Pruritus in Patients with Alagille Syndrome Two Months and Older - 12/13/2022

Bluejay Therapeutics Received Regulatory Clearance to Initiate Clinical Studies of BJT-778 for Treatment of Chronic Hepatitis B and Chronic Hepatitis D - 12/1/2022

SeQure DX Emerges From Stealth Mode to Fulfill the Promise of On-Target Gene Editing Therapies for Biopharma Partners, Physicians, and Patients - 11/16/2022

Bonum Therapeutics Announces a $94M Series A Financing to Advance a Novel and Validated Class of Conditionally Active Therapies - 11/15/2022

Eyes on the Exit:

Managing Risks, Maximizing Investor Returns

By: Thomas C. Melzer

Venture capital is known for its higher risk/return profile. VC firms make multiple bets with the hope that a significant percentage will pay off, thereby yielding a profitable fund. But to be successful, particularly in a difficult market environment as we have today, a firm can’t rely on luck or probabilities. It must have a sound strategy.

RiverVest Co-Founder and Managing Director Tom Melzer discusses RiverVest's investment strategy in an article posted on our website and LinkedIn company page.

Read it here

In Memoriam

Willam A. Peck, MD

September 2, 1933 - February 22, 2023

We mourn the passing of William A. Peck, MD, founding member of RiverVest’s Scientific Advisory Board. Bill helped RiverVest build a strong SAB, opened doors for us with key opinion leaders, and brought keen insights on the ever-evolving practice of medicine and its funding. We are grateful for all that Bill did for RiverVest and the world. He will certainly be missed.

STAY CONNECTED

RiverVest Venture Partners is a leading life science venture capital firm focused on improving the lives of patients, supporting entrepreneurs, and earning the trust of investors through science, strategy, and innovation.

Visit our website