MitoRx Therapeutics secures seed financing to advance mitochondrial protective therapeutics
Science Angel Syndicate backed the funding round alongside a broad group of institutional and angel investors.
MitoRx Therapeutics develops targeted therapeutics designed to address mitochondrial dysfunction and halt the progression of degenerative diseases.
MitoRx Therapeutics has secured seed financing from a syndicate of backers led by Science Angel Syndicate to advance its first-in-class therapeutic pipeline. The funding will support pre-clinical proof-of-concept platform development as well as research collaborations and partnerships.
Additional participants in the round include the UK Innovation & Science Seed Fund, Wren Capital, Longevitytech.fund, The Fink Family Office, and Oxford Technology Management, alongside several individual angel investors. The company focuses on addressing dysfunctional sulfide-signalling to treat conditions such as Duchenne muscular dystrophy and Alzheimer's disease.
The injection of capital follows pre-clinical research demonstrating the potential to reverse strength loss and provide neuroprotection in animal models. MitoRx aims to leverage this backing to accelerate its portfolio of small molecule mitochondrial protective therapeutics towards clinical trials.
From the founder
"I've long been fascinated by how reversing mitochondrial dysfunction could arrest the progression of degenerative diseases, which place great burdens on patients and healthcare systems. This seed financing will enable us to advance MitoRx's first-in-class therapeutic pipeline. We are the first biotech to address dysfunction of sulfide-signalling, a fundamental part of life's energy systems. I'm also delighted to welcome Glyn to the team whose wealth of experience will be a great asset as we accelerate our novel pipeline of small molecule mitochondrial protective therapeutics towards the clinic."
Jon Rees
CEO at MitoRx Therapeutics
Investor perspective
"Matt Whiteman is a world leading expert in sulfide-signalling biochemistry and has demonstrated proof-of-concept for treating dysfunctional sulfide-signalling across a range of diseases and animal models. By teaming up with two exceptionally experienced biotech executives in Dr Jon Rees (CEO) and Dr Norman Law (CTO) this has created a formidable team, well placed to bring these therapeutics to patients. We were particularly impressed with the quality of the scientific advisors that the team has brought together, as demonstrated by their ability to attract Glyn Edwards MBE as Chair, an industry specialist in therapeutics for Duchenne muscular dystrophy who will be able to support the team's progression through clinical trials."
Johnathan Matlock
General Partner and Co-founder, Empirical Ventures
Use of funds
- 01Fund research and development
Investors
Science Angel Syndicate
UK Innovation & Science Seed Fund
Wren Capital
Longevitytech.fund
The Fink Family Office
Oxford Technology
Categories
About the company
MitoRx Therapeutics
Developing targeted therapeutics to arrest the progression of degenerative diseases.