Adze Biotechnology Completes $6.2 Million First Closing of Series A Financing
“This first close of our Series A furthers our mission of bringing potentially life-saving treatments to patients in need.” - Sidney Hopps, Co-Founder & CEO
"We look forward to working closely with our new investors and members of the Board of Directors to build our company and advance our therapies into the clinic. ”
CORAL GABLES, FLORIDA, US, March 16, 2023 /EINPresswire.com/ -- Coral Gables, March 13, 2023 (PRNewswire) -- Adze Biotechnology, Inc., a preclinical-stage oncolytic immunotherapy company developing therapies to treat solid tumors, announced today that it has successfully completed the first closing of its Series A preferred stock financing with a commitment from new and existing investors of $6.2 million. The first tranche has been completed and is part of a total financing round of $15 million.— Sidney Hopps, Co-Founder & CEO, Adze Biotechnology, Inc.
Coinciding with the funding, Brendan Kenny, MBA, and Dr Gloria Olivier, PhD, have joined the Adze board.
"We look forward to working closely with our new investors and members of the Board of Directors to build our company and advance our therapies into the clinic," said Sidney Hopps, Co-Founder and Chief Executive Officer of Adze Biotechnology. “This first close of our Series A furthers our mission of bringing potentially life-saving treatments to patients in need.”
Adze plans to begin clinical trials in 2024 in melanoma in using Adze systemically deliverable oncolytic immunotherapies. Additionally, clinical trials in prostate cancer are being planned for 2025.
About the Adze Oncolytic Immunotherapy Platform
Adze-1.17 is an oncolytic immunotherapy platform designed for systemic delivery of immune-stimulatory transgenes and checkpoint inhibitors to distant and local tumors. The Adze oncolytic platform has been engineered to evade the liver for systemic delivery, and features several retargeted sub-platforms tuned for specific cancer tissue targeting. Adze immunotherapies are designed to deliver clinically validated immunotherapy payloads at high concentrations into tumors while restricting replication to cancer cells.
About Adze
Adze Biotechnology, Inc., headquartered in Coral Gables, FL, was founded in 2020 to develop a platform of novel, systemically deliverable oncolytic immunotherapies. Adze’s proprietary oncolytic platform is based on a potent chimeric adenoviral backbone with the capacity to provide customized payloads that can be added at will. These payloads can be designed to recruit and enhance patient immune systems, to treat their own cancers, maximize immunogenic cell death and the induction of a systemic anti-tumor immune response. The Adze-1.17 platform exhibits a unique dual local and systemic mechanism of action (MOA) consisting of direct selective virus-mediated killing of tumors, resulting in the release of tumor derived antigens that alter the tumor microenvironment (TME) to promote a strong and durable systemic response. This MOA is expected to be synergistic with most established and experimental cancer treatment modalities. The Adze-1.17 platform, with an attractive safety profile, has the versatility to be developed alone or combined with a variety of other treatment options. For more information, please visit Adzebiotech.com
Investor & Media Contact:
Sidney Hopps, CEO
917.743.9401 (office)
Sid@adzebiotech.com
Adze Biotechnology, Inc.
2332 Galiano Street, 2nd Floor
Coral Gables, FL 33134
Sidney Hopps
Adze Biotechnology, Inc.
+1 917-743-9401
email us here
