ADARx Pharma nabs $200 million financing
San Diego, USA-based next generation RNA therapeutics company ADARx Pharmaceuticals today revealed it has closed an oversubscribed Series C financing of $200 million.
The proceeds will be used to further advance ADARx clinical programs including ADX-324 and ADX-038. According to the company, ADX-324 represents an innovative approach for the treatment of hereditary angioedema (HAE), 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 financing was led jointly by Bain Capital Life Sciences and TCGX and 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.
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