ADARx Pharmaceuticals, Inc., a clinical-stage biotechnology company creating RNA-targeting medicines, announced today the completion of a $46 million Series B-1 investment to advance the Company’s drug development pipeline as its first candidate approaches the clinic. The Series B-1 was led by Ascenta Capital, with participation from the current syndicate of OrbiMed Advisors, SR One Capital Management, Lilly Asia Ventures, and Sirona Capital. Dr. Lorence Kim of Ascenta Capital has joined the Company’s Board of Directors in conjunction with this funding.
The Series B-1 proceeds will be utilized to expand ADARx’s patented RNA targeting platform, which includes oligonucleotides for inhibition, degradation, and editing, as well as innovative oligonucleotide delivery systems. This funding comes as ADARx’s lead pharmaceutical candidate for the treatment of hereditary angioedema, ADX-324, begins its phase I clinical study.
ADARx Pharmaceuticals, Inc., located in San Diego, is a clinical stage biotechnology company committed to turning cutting-edge science into life-saving therapeutics. ADARx 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.
Ascenta Capital is a biotech-focused late-stage venture fund, co-founded in 2023 by Dr. Evan Rachlin and Dr. Lorence Kim. The fund is focused on concentrated investments in companies developing portfolios of therapeutics based on innovative platform technologies.