GlaxoSmithKline, alongside Ahren Innovation Capital, will co-lead series A investment in UK-based biotech company Adrestia Therapeutics.
Adrestia uses molecular biology to develop precision medicines – its ‘disease rebalancing’ platform uses molecular biology to restore the biological balance in diseased or dying cells.
This platform can be applied to ‘diverse’ therapeutic areas which are caused by faulty molecular pathways that lead to cellular dysfunction or death, GSK said in a statement.
As well as co-leading the investment round, GSK will also enter a collaboration agreement with Adrestia on up to five projects.
Adrestia will be eligible to receive up to $230m from each project in post-option milestone payments, as well as royalties – dependent on development and commercialisation progress across multiple products.
Using its novel technology approach and platform as well as the strategic strength resulting from the GSK collaboration, Adrestia will search for new therapeutics targets, precision diagnostics, novel drug compounds and new applications for existing drugs.
“I am delighted to close this investment with GSK and Ahren. Adrestia’s vision is to use knowledge of human disease genetics to develop innovative new medicines for rare and common diseases,” said Steve Jackson, chief executive officer of Adrestia.
“It will be wonderful to work with GSK, whose deep expertise in drug discovery will accelerate Adrestia’s programmes and ability to develop medicines that have real positive impacts for patients. Ahren has made this a possibility with its ongoing exceptional support since we founded Adrestia together,” he added.
“Adrestia has shown that synthetic viability can rescue diseased or dying cells, and is a natural extension of our work with synthetic lethality to find novel medicines. This collaboration combines the talent and passion of both companies to put the UK at the cutting-edge of this approach to drug discovery,” commented Tony Wood, senior vice president, medicinal science and technology, GSK.
