RARE Daily

ADARx Raises $200 Million for Next Generation RNA Therapeutics

August 9, 2023

Rare Daily Staff

ADARx Pharmaceuticals closed an oversubscribed $200 million series C financing to advance its proprietary RNA delivery platforms and technology for silencing or editing target mRNA.

Bain Capital Life Sciences and TCGX led the financings, which also included new investors Blackrock, Commodore Capital, Cormorant Asset Management, HBM Healthcare Investments, Invus, Marshall Wace, Redmile Group, T. Rowe Price Associates, Venrock Healthcare Capital Partners, and Vivo Capital. ADARx’s existing investors, Ascenta Capital, Lilly Asia Ventures, OrbiMed, and SR One Capital Management also participated.

ADARx has a growing pipeline of RNA therapeutics for treating diseases across a range of therapeutic areas including genetic, cardiovascular, complement-mediated and central nervous system.

The proceeds from the series C financing will be used to further advance ADARx clinical programs including ADX-324 and ADX-038. ADX-324 represents an innovative approach for the treatment of hereditary angioedema, a rare genetic disease that causes painful, rapid, and potentially life-threatening swelling attacks, while ADX-038 is being developed for the treatment of multiple complement mediated diseases. The funding will also support advancement of a pipeline of innovative mRNA silencing or editing candidates for the treatment of a broad range of diseases.

“The early phase 1 clinical data strongly supports the potential of ADX-324 to be the best-in-class treatment for patients suffering from hereditary angioedema,” said Zhen Li, president and CEO of ADARx. “Moreover, the clinical data validate our proprietary targeted delivery PLR platform and our broad SPE technology. With this financing, we are well-positioned to achieve our clinical milestones for multiple clinical programs and to build a leading company in RNA therapeutics.”

Photo: Zhen Li, president and CEO of ADARx

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