AdoRx Therapeutics, an Edinburgh, Scotland, UK-based drug discovery company focused on identifying new cancer therapies, raised $10m in initial funding.
The round was led by Epidarex Capital and CRT Pioneer Fund.
The company will use the funds to continue to develop its candidates.
Founded in 2017 and led by CEO Pete Finan, former head of the Novartis Institutes of BioMedical Research UK, AdoRx is pursuing the discovery of new therapeutics for cancer based on modulation of the adenosine pathway. High levels of adenosine in the tumour microenvironment enable cancer to evade the immune system. The company’s lead programs are focused on the design of adenosine receptor antagonists that will overcome the effects of high adenosine levels.
The team is led by Dr Pete Finan (Novartis, Karus Therapeutics, Yamanouchi), Dr Clive McCarthy (Enterprise Therapeutics, Evotec, Novartis and Rhone Poulenc Rorer) and Dr Roy Pettipher (Orca, Atopix, Wellcome), who have discovered and transitioned in excess of twenty-five investigational drugs into clinical development.