Rare Daily Staff
ADARx Pharmaceuticals said it completed a $75 million series B financing to advance its drug development pipeline of RNA targeting therapeutics.
SR One Capital Management and OrbiMed Advisors led the financing, along with Sirona Capital and existing investors OrbiMed Advisors and Lilly Asia Ventures.
“The ADARx team is laser-focused on efficiently translating their insights around RNA biology into novel medicines to benefit patients,” said Simeon George, CEO of SR One.
“The team has made tremendous progress in the advancement of its unique, multi-faceted RNA platform in the short time since the company’s launch and we look forward to helping build the pipeline with this financing.”
ADARx says the power of its technology is the ability to identify a wide range of disease targets and choose the best RNA targeting approach to deliver transformative precision therapeutics.
Proceeds from the financing will be used to advance ADARx’s proprietary RNA platform technologies for base editing, inhibition, degradation, and delivery, and to transition ADARx’s growing pipeline of nine research phase products into the clinic including initiation of a phase 1 clinical trial for ADARx’s undisclosed lead program.
“We are excited that our RNA base editing technology could give rise to a significant pipeline of highly effective therapeutics,” said Zhen Li, president and CEO of ADARx. “In parallel, we are using our delivery technology to pursue additional RNA targeting approaches within a wide range of therapeutic areas including genetic, cardiometabolic and central nervous system diseases.”