MitoRx Therapeutics (MitoRx), a biotechnology company developing novel therapeutics to reverse mitochondrial dysfunction and arrest the progression of degenerative diseases, has successfully completed its seed funding. The proceeds will be used to fund pre-clinical proof-of-concept platform development and explore research collaborations and partnerships.
Dysfunction of the mitochondria (the power stations of the cell) has been linked to the progression of rare diseases such as the neuromuscular disorder, Duchenne muscular dystrophy, the neurodegenerative disorder, Huntington’s disease, and other common neurodegenerative diseases. Dr. Jon Rees, CEO of MitoRx, said that “Degenerative diseases 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." The company has appointed Glyn Edwards MBE as Chair, who previously took a Duchenne muscular dystrophy biotech onto the NASDAQ and through late-stage clinical trials.
MitoRx’s academic founder and CSO, Prof Matt Whiteman of the University of Exeter, recently demonstrated the complete reversal of loss-of strength due to mitochondrial dysfunction in a C. elegans model of Duchenne muscular dystrophy. They also demonstrated neuroprotection in a mammalian model of Alzheimer’s disease, through the restoration of sulfide-signalling. Dr Norman Law, Co-founder of MitoRx, added that “We already have data for our compounds in additional therapeutic areas such as respiratory and dermatology, which we would also look to partner or out-license".
To learn more about MitoRx, visit https://mitorxtherapeutics.com
About Oxford Technology:
Since 1983, Oxford Technology has specialised in investing in start-up and early stage technology companies based in and around Oxford and London. Our latest funds take advantage of SEIS and EIS tax reliefs to make pre-seed and seed stage investments, through which we have created a portfolio split between life, physical, and data science start-ups.