March 2024

RiverVest Invests in Neuroscience Company Engrail Therapeutics


The investment, which was announced on March 19, 2024, is part of an oversubscribed $157 million Series B round co-led by F-Prime Capital, Forbion, and Norwest Venture Partners. With these funds, Engrail will look to complete the phase 2 ENCALM study of ENX-102 in generalized anxiety disorder and propel the rest of Engrail's pipeline into clinical development.


RiverVest is proud to add Engrail to our Fund V portfolio, with our managing director Niall O’Donnell joining the company’s board. Engrail’s portfolio of novel products has tremendous potential to help people struggling with depression, anxiety, post-traumatic stress disorder, and rare neurodegenerative diseases. We look forward to supporting the advancement of Engrail's pipeline through multiple stages of clinical development.


Learn more about Engrail here

Promotions Announced for Karen Spilizewski, Isaac Zike, Ph.D., and Pascal Krotee, Ph.D.

RiverVest announced the promotions of three senior leaders in December 2023. Karen Spilizewski and Isaac Zike, Ph.D. were promoted to managing director, and Pascal Krotee, Ph.D. was promoted to principal. You can read the full press release here.


“Karen, Isaac, and Pascal bring extensive and complementary scientific knowledge, industry-relevant operational experience, and financial expertise that are fundamental to RiverVest’s success,” said RiverVest Co-founder and Managing Director Jay W. Schmelter. “Their promotions are a testament to their impact on furthering RiverVest’s mission to improve the lives of patients, support entrepreneurs, and earn the trust of investors through science, strategy, and innovation. I couldn’t be more excited about the strength and cohesiveness of our team and the future of our firm.”


Please join us in congratulating Karen, Isaac, and Pascal on their well-deserved promotions.

Expert Insight



Global Clinical Trial Investigates Novel Heart Failure Treatment

Venture capital provides the financial wherewithal that early-stage medical device companies like RiverVest portfolio company Alleviant Medical need to translate promising science into patient impact. A startup’s pre-clinical work can be financed through a mix of research grants, angel investors, and individuals. Pivotal trials, however — like Alleviant’s global, pivotal trial now enrolling patients — almost always require venture capital. 


In RiverVest's latest "Expert Insight," we discuss the significant unmet need for effective heart failure therapies, Alleviant’s novel solution, and the pivotal study being funded by a Series A equity financing co-led by RiverVest in January 2023.


You can read the article here — or share your comments via LinkedIn

Another FDA Approval for Mirum Pharmaceuticals


At RiverVest, we commit ourselves to transforming promising technologies into successful therapies. In this spirit, we celebrate the FDA approval of LIVMARLI for children with progressive familial intrahepatic cholestasis (PFIC), which was announced by Mirum Pharmaceuticals on March 13, 2024.

 

You can read the backstory of this remarkable journey in two of our case studies: Lumena, in which RiverVest co-developed the LIVMARLI drug, and Mirum, in which Managing Director Niall O'Donnell helped reclaim the drug from Shire and got the approval process back on track. 


FDA approval of LIVMARLI in PFIC is a big win for children with liver disease and another great example of RiverVest putting patients first and treating entrepreneurs well, which in turn can lead to lucrative outcomes for our investors.

Portfolio News

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


Recent announcements include:

Glycomine, Inc. Announces Encouraging Efficacy Data from Ongoing Phase 2 Clinical Study in PMM2-CDG - 3/4/2024

SeQure Dx and Synthego Partner to Provide Comprehensive Off-Target Analysis Services for CRISPR-Based Therapeutics Developers - 1/23/2024

Spruce Biosciences Completes enrollment in CAHmelia-204 Study for Adult Classic Congenital Adrenal Hyperplasia - 1/22/2024

Wugen, Inc. Presents Latest Data from First-In-Human Phase 1/2 Trial of WU-CART-007 in Patients with Difficult-to-Treat Blood Cancers at American Society of Hematology Annual Meeting - 12/11/2023

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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. 

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