Indianapolis, Ind. (May 19, 2023) – NERx Biosciences, a pre-clinical stage biotechnology company developing anticancer therapeutics targeting the DNA damage response (DDR) and DNA Repair is announcing today the close of a bridge round of financing that included Elevate Ventures and multiple individual investors. The company will use the funds to advance its lead compound, the first in class inhibitor of RPA, NERx-329, towards federal approval for initiation of clinical trials for the treatment of lung and ovarian cancer.
“Our unique approach to targeting the DDR by intervening upstream in the DDR pathway and targeting the DNA damage sensors eclipse other programs targeting downstream events and allows us to realize the full therapeutic promise of the DDR,” said Katie Pawelczak, Ph.D., NERx Biosciences Chief Operating Officer. “The work we have completed to advance our lead asset from discovery to pre-clinical development has enabled us to secure additional funding from Elevate Ventures and angel investors. We are grateful for their support, which will allow us to complete additional studies needed to advance towards IND approval.”
NERx Biosciences primary goal is to develop a new generation of anticancer therapeutics that are directed against novel protein targets for the treatment of lung and ovarian cancer. The company has developed a first in class innovative cancer therapeutic agent that targets the clinically validated DNA damage response pathway. NERx Biosciences has developed a novel strategy to realize the full therapeutic promise of the DDR, by intervening upstream of the DDR kinases and targeting specific proteins that sense DNA damage. Our novel targeted therapeutics are expected to dramatically enhance patient response to therapy and ultimately overall survival.
“The innovation, focus and determination that we have seen from the NERx team is what we look for in an investment,” said Kristin Eilenberg, Entrepreneur-in-Residence for Elevate Ventures. “We feel that their lead asset, targeting RPA, is interesting, complex, and therapeutically relevant.”
To learn more about NERx Biosciences, visit nerxbiosciences.com