ADARx Pharmaceuticals, a San Diego, CA-based scientific stage biotechnology firm growing RNA-targeting therapeutics, raised $46M in Collection B-1 funding.
The spherical was led by Ascenta Capital with participation from OrbiMed Advisors, SR One Capital Administration, Lilly Asia Ventures, and Sirona Capital. Along side this financing, Dr. Lorence Kim of Ascenta Capital has joined the Firm’s Board of Administrators.
The corporate intends to make use of the funds to advance its proprietary RNA focusing on platform, together with oligonucleotides for inhibition, degradation, and enhancing, along with novel oligonucleotide supply applied sciences.
Led by CEO and President Dr. Zhen Li, ADARx is a scientific stage biotechnology firm. The corporate is growing a proprietary RNA focusing on platform, together with oligonucleotides for inhibition, degradation, and enhancing, along with novel oligonucleotide supply applied sciences. ADARx has a rising pipeline of RNA focusing on therapeutics for treating illnesses throughout a variety of therapeutic areas together with genetic, cardiometabolic, complement-mediated and central nervous system illnesses.
The timing of this financing coincides with ADARx’s lead product candidate, ADX-324, for the therapy of hereditary angioedema starting its part I scientific trial.
Commenting on the information, Dr. Zhen Li stated: “This spherical of funding with the assist of our investor syndicate permits us to pursue our near-term targets of progressing our first three product candidates into the clinic whereas persevering with our discovery and improvement efforts throughout a number of therapeutic areas.”