ADARx Pharmaceuticals: Raises $46M in Series B-1 Financing

ADARx Pharmaceuticals Raises $46M in Series B-1 Financing

• ADARx Pharmaceuticals, a San Diego, CA-based clinical stage biotechnology company developing RNA-targeting therapeutics, raised $46M in Series B-1 funding
• The round was led by Ascenta Capital with participation from OrbiMed Advisors, SR One Capital Management, Lilly Asia Ventures, and Sirona Capital
• In conjunction with this financing, Dr. Lorence Kim of Ascenta Capital has joined the Company’s Board of Directors
• The company intends to use the funds to advance its proprietary RNA targeting platform
• Led by CEO and President Dr. Zhen Li, ADARx is a clinical stage biotechnology company
• The company is developing a proprietary RNA targeting platform, including oligonucleotides for inhibition, degradation, and editing