Case Studies

New Haven, Connecticut

ReNetX Bio

The ability to treat central nervous system (CNS) damage could improve the lives of millions of people worldwide. It’s also the goal of ReNetX Bio, which uses patented technology based on work by Stephen Strittmatter, Yale University’s Vincent Coates Professor of Neurology and Neurobiology, to improve neurologic function after CNS injury. ReNetX Bio’s innovation is targeted at people who are affected by conditions of the central nervous system, including spinal cord injury, stroke and glaucoma.

the support and resources

The Support and Resources

  • $2.4 million total investment over multiple rounds of funding; CI’s support enabled the company to leverage an additional $1.7 million from other investors
  • $50,000 SBIR loan
  • CI’s David Wurzer joined the ReNetX Bio board
“Connecticut Innovations has been there since the beginning to advance and support our organization with both funding and expertise. Dave Wurzer’s commitment has been the driving force for navigating the company through many changes, from the earliest preclinical days until now, when we have initiated a first-in-human trial and are on the cusp of a proof-of-concept Phase II study. As a small biotech, having a community, connections and support is incredibly important; it’s also important for the Connecticut biotech industry as a whole.”
Erika R. Smith
CEO, ReNetX Bio
the outcome

Today, ReNetX Bio has four full-time employees, along with dozens of experts who support the team more broadly, including its scientific advisory board, board of directors, and team of contract and clinical research organizations. In June 2019, the same year BioCT named ReNetX Bio CEO Erika Smith its Entrepreneur of the Year, the U.S. Food and Drug Administration granted the company permission to begin human clinical trials with ReNetX Bio’s lead drug candidate, AXER-204. Two months later, the company announced a successful first-patient dosing in a Phase I clinical trial, and in January 2020, ReNetX Bio announced that the FDA had granted the company “Fast Track Designation” for AXER-204 for the potential treatment of chronic spinal cord injury.