Retension Pharmaceuticals Spinoff Raises $45 Million in IPO
1 report, 1 independent
Updated Tue 00:00
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What happened
Retension Pharmaceuticals, a company that spun off from Redux, filed documents with the Securities and Exchange Commission. The company raised $45 million since going public last week, exceeding its initial goal of raising around $40 million. These funds are intended to support the development of RTN-001, an oral medication for hypertension.
From arlnow.com
Why it matters
The successful initial public offering provides Retension Pharmaceuticals with funding to cover operations for at least 21 months. The company plans to use the proceeds to advance the development of RTN-001 and potentially apply the drug to other cardiovascular and kidney-related diseases.
From arlnow.com
Who's involved
- REDUXParent company from which Retension Pharmaceuticals spun off
- Securities and Exchange CommissionGovernment agency receiving the required regulatory filing
Keep exploring
The entities involved
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Securities and Exchange Commission
government agency of the Philippines