– USA, TX – Renibus Therapeutics, a clinical-stage biotech company today announced the appointment of Frank Stonebanks as CEO alongside Co-Founder and former CEO, Al Guillem who will step to Executive Chairman.
The Company also announced it has completed a $15 million extension as part of its Series A financing, led by family offices specializing in biotech investments, closing the round at $35 million.
“Renibus has arrived at a critical inflection point in its commitment to transform the prevention and treatment of kidney diseases, and I see enormous potential in each of the programs. The closing of our $35 million capital raise will accelerate our momentum across the clinical portfolio,” said Frank Stonebanks.
“Frank brings a proven track record of success leading both public and private companies, as well as notable expertise in the venture capital world, and Renibus will benefit from his leadership as it enters a critical phase,” said Al Guillem. “These leadership changes and our recent financing position the company well for continued growth. I look forward to continuing to serve Renibus as Executive Chairman as we work towards our next set of milestones.”
About Frank Stonebanks
Frank Stonebanks most recently served as a venture partner at Wavemaker Three-Sixty Health LP, a seed-stage healthcare-focused VC firm. His appointment at Renibus makes him a four-time biotech CEO and two-time Founder, having been the founder and chief executive of Triphase LP which sold its first asset to Celgene, The Macroflux Corporation, a Johnson & Johnson spinout, and Cynvec. Earlier in his career, he held leadership and advisory roles at Johnson & Johnson, IBM and Sanofi. Mr. Stonebanks served as an advisor to Renibus before his recent appointment, leveraging his expertise as a repeat biotech CEO to guide the development of Renibus’ portfolio of assets to prevent and treat renal diseases.
About Renibus Therapeutics, Inc.
Renibus Therapeutics is a clinical-stage biotech company dedicated to transforming the cardiorenal disease treatment paradigm by focusing on the prevention and treatment of kidney disease. The company’s portfolio includes RBT-1 for the prevention of acute kidney injury, RBT-2 for treatment of chronic kidney disease, and RBT-3 for treatment of iron deficiency anemia and platinum-based kidney toxicity.
For more information: https://renibus.com/
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