ADARx Pharmaceuticals, a San Diego, CA-based clinical stage biotechnology company developing RNA-targeting therapeutics, raised $46M in Series B-1 funding.
The round was led by Ascenta Capital with participation from OrbiMed Advisors, SR One Capital Management, Lilly Asia Ventures, and Sirona Capital. In conjunction with this financing, Dr. Lorence Kim of Ascenta Capital has joined the Company’s Board of Directors.
The company intends to use the funds to advance its proprietary RNA targeting platform, including oligonucleotides for inhibition, degradation, and editing, together with novel oligonucleotide delivery technologies.
Led by CEO and President Dr. Zhen Li, ADARx is a clinical stage biotechnology company. The company is developing a proprietary RNA targeting platform, including oligonucleotides for inhibition, degradation, and editing, together with novel oligonucleotide delivery technologies. ADARx has a growing pipeline of RNA targeting therapeutics for treating diseases across a range of therapeutic areas including genetic, cardiometabolic, complement-mediated and central nervous system diseases.
The timing of this financing coincides with ADARx’s lead product candidate, ADX-324, for the treatment of hereditary angioedema beginning its phase I clinical trial.
Commenting on the news, Dr. Zhen Li said: “This round of funding with the support of our investor syndicate allows us to pursue our near-term objectives of progressing our first three product candidates into the clinic while continuing our discovery and development efforts across multiple therapeutic areas.”
FinSMEs
20/01/2023