Development-stage biotech Renova Therapeutics partners with NASDAQ Private Market
September 12, 2016
NEW YORK and SAN DIEGO – Renova™ Therapeutics, a biopharmaceutical company developing gene therapy treatments for congestive heart failure and type 2 diabetes, today announced its engagement with NASDAQ Private Market to manage the equity of and offer liquidity to the company’s employees and shareholders.
Through its technology platform and expertise, NASDAQ Private Market provides a streamlined solution for Renova Therapeutics’ equity management needs, including integrated stock plan administration and capitalization management, along with the design and deployment of liquidity programs for shareholders. Working with NASDAQ Private Market is the logical next step for our company, explained Jack W. Reich, Ph.D., CEO & Co-founder of Renova Therapeutics.
“We’ve transitioned from being a startup to a full-fledged development-stage biotech, and NASDAQ Private Market is perfectly suited for our needs right now,” said Dr. Reich. “As we move our pipeline forward and prepare to become a commercial-stage company, we want to ensure we have the proper equity management infrastructure and liquidity programs for our employees and shareholders in place.”
With this partnership, shareholders of Renova Therapeutics will be eligible to participate in buying and selling of the company’s shares through secondary liquidity programs, known as private tender offers, facilitated by NASDAQ Private Market.
“As companies stay private longer, staying on top of their equity compensation program is crucial,” said Nelson Griggs, Executive Vice President, NASDAQ. “We applaud Renova’s ongoing commitment to developing their equity compensation program and look forward to supporting their equity management and secondary liquidity program needs.”
The Renova Therapeutics team remains focused on its mission to create transformational gene therapies that treat serious diseases to restore health and renew life.
About Renova Therapeutics
Renova Therapeutics is developing definitive, one-time gene therapies and peptide infusion treatments to restore the health of people suffering from chronic diseases. The first indications the company is pursuing are gene therapy treatments for congestive heart failure (CHF) and type 2 diabetes, two of the most common and devastating chronic diseases in the world. The company’s lead product, RT-100, is a treatment that delivers a therapeutic gene directly to the heart during a routine outpatient procedure and has the potential to increase heart function in millions of patients with CHF. The company’s product pipeline also includes a groundbreaking gene therapy in preclinical stage for sufferers of type 2 diabetes, as well as a peptide infusion therapy for the treatment of acute decompensated heart failure. Renova Therapeutics was founded in 2009 and is led by an experienced management team in biopharmaceuticals and gene therapy. For additional information about the company, please visit www.renovatherapeutics.com.
About NASDAQ Private Market
The NASDAQ Private Market, LLC is the premier equity services provider to private companies. Our end-to-end solution enables private companies to digitize, integrate, and control all of their equity-related functions, including cap table management, shareholder liquidity, investor relations, and capital raising. Whether a company seeks to optimize an eventual IPO or remain private permanently, NASDAQ Private Market provides comprehensive equity management support to meet its needs.
The information contained herein is provided for informational and educational purposes only. None of the information provided is an offer or solicitation to buy or sell any securities, or to provide any legal, tax, investment or financial advice. The NASDAQ Private Market, LLC is not: (a) a registered exchange under the Securities Exchange Act of 1934; (b) a registered investment adviser under the Investment Advisers Act of 1940; or (c) a financial or tax planner, and does not offer legal advice to any user of the NASDAQ Private Market website. Securities-related services of the NASDAQ Private Market, LLC are provided by SMTX, LLC, a registered broker-dealer, which is a member FINRA/SIPC and a wholly-owned subsidiary of The NASDAQ Private Market, LLC. Securities offered through SMTX, LLC are not listed or traded on The NASDAQ Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on The NASDAQ Stock Market LLC. To learn more, visit www.npm.com.
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