Monday, January 23, 2023

ADARx Pharmaceuticals Takes $46M

San Diego-based ADARx Pharmaceuticals has raised $46M in a Series B-1 funding, the company said on Friday. The funding was led by Ascenta Capital, and also included OrbiMed Advisors, SR One Capital Management, Lilly Asia Ventures, and Sirona Capital. As part of the funding, Ascenta Capital's Dr. Lorence Kim has joined the company's board. The company said it will use the funding to advance its proprietary RNA targeting platform, including oligonucleotides for inhibition, degradation, and editing, together with novel oligonucleotide delivery technologies. The company's lead product candidate is aimed at treating hereditary angioedema. More information »