"This is just a tiny seed round," Detlev Mennerich, of Boehringer Ingelheim Venture Fund (BIVF), conceded, telling BioWorld however that backers of Rinri Therapeutics Ltd. "have a clear vision" how the firm can use its newly banked £1.4 million (US$1.7 million) to develop chemistry, manufacturing and controls before going back to the market in a year or so for "north of $10 million" in series A money and then taking aim at phase Ib/IIa work.