Recently, Azeria Therapeutics Ltd has raised a fund of €37.3M for Syncona’s Series B financing round, while Syncona Ltd is investing €34.4M.
The lead investor of Series A, CRT Pioneer Fund, is also contributing to the Series B financing round. According to Azeria, they are using proceeds to build the preclinical FOXA1 inhibitor to test the safety of clinical Phase 1.
According to the reports, it is found that FOXA1 is a crucial part of the growth of the tumor, progression as well as conservation of estrogen receptor-positive luminal breast cancer. It is an area of unmet patient need where the condition of 30% of patients improves at the later stage of the endocrine-resistant disease. Azeria will look for more programs in oncology.
The manager of CRT Pioneer Fund, Sixth Element Capital, and Cancer Research Commercial Partnership team of the UK founded Azeria Ltd in 2017. The main aim to start the company is to build a world-class oncology company to provide treatments to breast cancer patients that are hormone-resistant. The company was based on the work of Professor Jason Caroll, a leading expert at the Cancer Research UK Cambridge Institute. The company followed his scientific insights and target to FOXA1-driven cancer patients.
CRT Pioneer fund invested £5.5 million and helped Azeria in Series A financing fund. In oncology programs, it targets in the investments in the early stage. The largest investor, Syncona in the CRT Pioneer Fund, will also take part in the next phase of growth and development.