Rege Nephro raises US$9.38M convertible note round toward Series C
What's the deal? Rege Nephro, a Kyoto-based biotech developing iPS cell-based kidney regeneration and drug discovery, has raised US$9.38M in a convertible note round.
The first close drew backing from JAFCO Group, Mitsubishi UFJ CapitalDealroom has a profile for this one. Try Dealroom →, JIC Venture Growth InvestmentsDealroom has a profile for this one. Try Dealroom →, Kyoto University Innovation CapitalDealroom has a profile for this one. Try Dealroom →, and Toho Holdings, among others.
A second close is underway, which the company expects to bring the total to US$13.1M.
Why now? The funding follows a key milestone: RN-014, its lead drug for autosomal dominant polycystic kidney disease (ADPKD), reached the last patient last visit in its Phase 2a trial.
RN-014 is a small-molecule treatment identified through screening with iPS cell-derived disease models, and data analysis is now in progress.
The raise is a strategic step toward a Series C round planned for autumn 2026 or later.
What's next? Rege Nephro will fund four priorities: maximising RN-014's value and licensing efforts, advancing its second pipeline RN-032 toward non-clinical trials, building next-generation kidney research programmes, and hiring specialist talent.
RN-032, a regenerative therapy using iPS cell-derived nephron progenitor cells, has completed process development and is ready to move forward.
The signal: Rege Nephro is now a late-stage company, and this convertible note round — bridging toward a Series C planned for autumn 2026 or later — reflects investor confidence following RN-014's Phase 2a milestone. The backing of strategic corporates like Toho Holdings, a pharmaceutical wholesaler, points to early thinking about how these therapies could eventually reach patients through established distribution channels.
Read more: PR Times
