New pharma Azadyne raises £1.5m for autoimmune disease treatment
Trinity College’s new spin-out organisation, Azadyne, has completed a £1.5million funding round for its new approach to the treatment of autoimmune diseases.
The Kent company focuses on an unexplored pathway in the body, with its novel approach based on research conducted at Trinity College Dublin by Associate Professor in Biochemistry Vincent Kelly, Professor of Synthetic Chemistry Professor Stephen Connon and Assistant Professor in Chemistry John Michael Southern.
The company’s approach via the tRNA guanine transglycosylase (TGT) enzyme pathway has shown striking efficacy in pre-clinical studies against a range of autoimmune diseases, yet does not compromise the body’s immune system.
Dr Declan Weldon, deputy director Trinity Research and Innovation, Trinity commented: “We are very pleased that NCL have recognised the potential of Azadyne by investing at this early and critical stage. With this investment we see the results of all our efforts to build and support a team capable of developing great science into a business. We look forward to working with NCL and Azadyne into the future.”
The latest investment will support the company as it progresses its innovative approach to autoimmune disease, with the first compounds expected to enter first-in-human trials in the short to medium term. The financing round, which was led by NCL Technology Ventures with the balance coming from new private investors, will help to fund research into treatment for a number of diseases with no cure, including MS.
28th March 2019http://www.pharmatimes.com/
