ADARx Pharmaceuticals, a San Diego, CA-based clinical stage biotechnology company developing next generation RNA therapeutics, closed a $200m Series C financing.
The round 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 Inc., Venrock Healthcare Capital Partners, and Vivo Capital, as well as existing investors, Ascenta Capital, Lilly Asia Ventures, OrbiMed, and SR One Capital Management. In conjunction with financing, Ricky Sun, PhD, Partner at Bain Capital Life Sciences, and Dr. Chen Yu, Managing Partner of TCGX, will join ADARx’s Board of Directors.
Led by Dr. Zhen Li, President and Chief Executive Officer, ADARx Pharmaceuticals is a clinical stage biotechnology company committed to turning cutting-edge science into life-saving therapeutics. The company has developed proprietary RNA delivery platforms and technology for silencing or editing target mRNA. It 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 company intends to use the funds to further advance ADARx clinical programs including ADX-324 and ADX-038, and a pipeline of innovative mRNA silencing or editing candidates for the treatment of a broad range of diseases.
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.