SAN DIEGO — To accelerate its drug development pipeline as the firm’s first product approaches the clinic, ADARx Pharmaceuticals, Inc., a clinical-stage biotechnology company creating RNA-targeting medicines, announced the conclusion of a USD 46 million Series B-1 fundraising.
Ascenta Capital served as the lead investor for Series B-1, with participation from the existing syndicate of OrbiMed Advisors, SR One Capital Management, Lilly Asia Ventures, and Sirona Capital. Ascenta Capital’s Dr. Lorence Kim has joined the company’s board of directors in conjunction with this funding.
“siRNA has developed into a new class of therapeutics from a remarkable platform technology. According to Dr. Lorence Kim of Ascenta Capital, “ADARx provides a future generation of novel insights into oligonucleotide chemistry, pushing siRNA’s frontier with effective translation of ADARx research into prospective pharmaceuticals addressing significant unmet medical needs across therapeutic categories. “Evan Rachlin, my co-founder, and I established Ascenta Capital to support businesses like ADARx as they develop and reach their full potential. We are thrilled to work alongside Dr. Li and her team as they begin the first of many clinical trials for significant new RNA therapies.
The funds from the Series B-1 fundraising will be utilized to expand ADARx’s unique RNA targeting platform, which includes cutting-edge oligonucleotide delivery methods and oligonucleotides for inhibition, degradation, and editing. The start of phase I clinical trial for ADARx’s primary product candidate, ADX-324, for the treatment of hereditary angioedema, aligns with the time of this investment.
As we transition to a clinical-stage biotechnology firm, this is an exciting time for ADARx, according to Dr. Zhen Li, President and CEO of ADARx. With the help of our investor syndicate, this investment round enables us to work toward our short-term goals of advancing our first three product candidates into the clinic and maintaining our research and development activities across several therapeutic areas.
About the startup:
San Diego-based ADARx Pharmaceuticals, Inc. is a clinical-stage biotechnology firm dedicated to translating cutting-edge research into treatments that can save lives. In addition to cutting-edge oligonucleotide delivery techniques, ADARx is creating a unique RNA targeting platform comprising oligonucleotides for inhibition, degradation, and editing. For the treatment of illnesses in a variety of therapeutic domains, such as genetic, cardiometabolic, complement-mediated, and central nervous system disorders, ADARx has a developing pipeline of RNA-targeting medicines.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!