AdoRx Therapeutics Announces Collaboration With Johnson & Johnson Innovation to Develop Novel Lung Cancer Therapeutics
EDINBURGH, Scotland, Feb. 28, 2019 /PRNewswire/ -- AdoRx Therapeutics, a UK based drug discovery company, today announced that it has entered into a strategic collaboration with Johnson & Johnson Innovation LLC* and the Lung Cancer Initiative at Johnson & Johnson to develop novel therapeutics for the treatment of lung cancer. Under terms of the agreement, AdoRx has granted an exclusive option to research, develop and commercialise novel antagonists within the AdoRx portfolio, and the groups will collaborate on drug discovery and preclinical development activities. Financial terms of the collaboration were not disclosed.
Commenting, Pete Finan, CEO of AdoRx, said: "We are delighted to be teaming up with Johnson & Johnson and their Lung Cancer Initiative less than two years after the creation of AdoRx. The collaboration will facilitate the progression of AdoRx's fit-for-purpose receptor antagonists into clinical development."
AdoRx was founded in 2017 by leading healthcare investor Epidarex Capital. The company announced further investment by Epidarex Capital and Sixth Element Capital which manages the oncology focused CRT Pioneer Fund (CPF) in June 2018.
*Johnson & Johnson Services, Inc is the legal entity to the agreement.
Notes to Editors:
About AdoRx Therapeutics Limited
AdoRx Therapeutics is pursuing the discovery of new therapeutics for cancer based on modulation of the adenosine pathway. High levels of adenosine in the tumour microenvironment enable cancer to evade the immune system. AdoRx's lead programs are focused on the design of "fit for purpose" adenosine receptor antagonists that will overcome the effects of high adenosine levels.
For more information, please see www.adorx.com
Epidarex Capital is a transatlantic venture fund that invests in early-stage, high growth life science and health technology companies in under-ventured markets. Epidarex focuses on providing risk capital to young companies, including spin-outs from leading research institutions in up and coming life science hubs. The fund's international management team has a track record of successfully partnering with top scientists and entrepreneurs to develop highly innovative products for the global healthcare market.
For more information, please see www.epidarex.com
About Sixth Element Capital LLP and the CRT Pioneer Fund
Sixth Element Capital LLP (6EC) is a UK based fund manager, which manages the CRT Pioneer Fund. 6EC's experienced partners focus on creative and collaborative novel financing solutions designed to fund and manage innovative science in order to bring new therapeutic products and technologies to market, creating long term value and benefit to stakeholders. The CRT Pioneer Fund is a specialist oncology investment fund established by 6EC in 2012. The £70 million fund is dedicated to investments in oncology development programmes in Europe. The fund was established to bridge the investment gap between cancer drug discovery and early clinical development.
For more information, please see www.sixthelementcapital.com
SOURCE AdoRx Therapeutics