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MitoRx Therapeutics secures investment from Science Angel Syndicate to develop its first-in-class therapeutics that target dysfunctional sulfide-signalling in mitochondria to halt the progress of degenerative diseases

Investors in this round: Science Angel Syndicate

Science Angel Syndicate (SAS) was launched in September 2021 to support investments into frontier scientific discoveries that impact society on a global scale. Leveraging their unique due diligence capabilities they have supported SAS investors to make an investment into MitoRx Therapeutics.

MitoRx Therapeutics (MitoRx), is a platform-biotechnology company developing novel therapeutics that reverse mitochondrial dysfunction to arrest the progression of degenerative diseases. The company’s first-in-class therapeutic pipeline targets a novel mechanism, critical in mitochondrial biology, that when dysfunctional, can lead to various degenerative disorders.  MitoRx’s therapeutics are designed to migrate to mitochondria in cells and then act as sulfide donors, halting disease progression and significantly improving the quality of life for patients in need. Mitochondrial dysfunction has been linked to the progression of rare diseases such as the neuromuscular disorder Duchenne muscular dystrophy, the neurodegenerative disorder Huntington’s disease, and it has also been implicated in common neurodegenerative diseases.

MitoRx’s academic founder, and CSO, Prof Matt Whiteman of the University of Exeter, and collaborators have 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. (1, 2)

Dr. Jon Rees, CEO of MitoRx, said, “I’ve long been fascinated by how reversing mitochondrial dysfunction could arrest the progression of degenerative diseases, which 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. I’m also delighted to welcome Glyn to the team whose wealth of experience will be a great asset as we accelerate our novel pipeline of small molecule mitochondrial protective therapeutics towards the clinic.”

Dr Johnathan Matlock, co-founder of Science Angel Syndicate, said “Matt Whiteman is a world leading expert in sulfide-signalling biochemistry and has demonstrated proof-of-concept for treating dysfunctional sulfide-signalling across a range of diseases and animal models. By teaming up with two exceptionally experienced biotech executives in Dr Jon Rees (CEO) and Dr Norman Law (CTO) this has created a formidable team, well placed to bring these therapeutics to patients. We were particularly impressed with the quality of the scientific advisors that the team has brought together, as demonstrated by their ability to attract Glyn Edwards MBE as Chair, an industry specialist in therapeutics for Duchenne muscular dystrophy who will be able to support the team’s progression through clinical trials.

Dr Ben Miles, co-founder of Science Angel Syndicate, said “The MitoRx technology represents a tangible route forward to making a significant positive impact in the lives of those that suffer from degenerative diseases. We are incredibly excited to support the MitoRx team’s journey as they accelerate the development of this technology.”

Science Angel Syndicate shared its due diligence with a range of other investors to enable those investors to make a more informed decision. Dr Jon Rees said “Science Angel Syndicate is unique as an early stage investor here in the UK. While generalist angels can struggle to build conviction in seed stage biotech propositions through a lack of specialist knowledge, Johnathan and Ben’s provision of highly comprehensive due diligence to potential investors in science-based propositions is a classic gap-fill. Their willingness to then share this due diligence with other investors in this round was impactul. I was aware of a critical angel investor funding gap in the UK for seed stage biotechs, as compared to other leading global biotech clusters, and I welcome the establishment of SAS in effectively addressing this critical gap.”

The seed financing was backed by a broad range of investors including the UK Innovation & Science Seed Fund, Wren Capital, Longevitytech.fund, The Fink Family Office, Oxford Technology Management, as well as other individual angel investors. The seed financing will be used to fund pre-clinical proof-of-concept platform development and explore research collaborations and partnerships.

*Risk disclaimer: Investment in early-stage companies involves risks such as illiquidity, lack of dividends, loss of investment and dilution. For professional investors only.

References

(1) January 2021 – Mitochondrial hydrogen sulfide supplementation improves health in the C. elegans Duchenne muscular dystrophy model. Ellwood et al. PNAS. https://www.pnas.org/doi/10.1073/pnas.2018342118

(2) January 2021 – Hydrogen sulfide is neuroprotective in Alzheimer’s disease by sulfhydrating GSK3β and inhibiting Tau hyperphosphorylation. Giovinazzo et al.  PNAS. https://www.pnas.org/doi/10.1073/pnas.2017225118

(3) February 1996 – The possible role of hydrogen sulfide as an endogenous neuromodulator. Abe and Kimura. J Neurosci. https://pubmed.ncbi.nlm.nih.gov/8558235/

Public relations enquiries

Dr Johnathan Matlock, Director

johnathan@scienceangelsyndicate.com

About Science Angel Syndicate

Science Angel Syndicate was founded in 2021 with a mission to source world-class scientific discoveries, provide unique scientific due diligence and help our members to identify exceptional investment opportunities that tackle the most important global challenges. Our collective knowledge helps our members invest in the most exciting companies of tomorrow, founded by leading scientists at the forefront of their fields. 

Learn more about Science Angel Syndicate: www.scienceangelsyndicate.com

Company Contact (MitoRx)

Jon Rees, CEO

Email: jon.rees@mitorxtherapeutics.com

Phone: +44(0)7826 556622

About MitoRx

At MitoRx our mission is to become the leading global developer of medicines arresting the progression of degenerative diseases driven by mitochondrial dysfunction.  We are a preclinical research stage biotechnology company developing our first-in-class, orally delivered, mitochondrial protective therapeutics targeting rare neuromuscular disorders, rare metabolic diseases, and neurodegenerative diseases. 

Located in Harwell, Oxford, we have raised seed financing from a broad range of investors including the UK Innovation & Science Seed Fund, Wren Capital, Longevitytech.fund, The Fink Family Office, the Science Angel Syndicate Network, Oxford Technology Management, as well as angel investors. For more information visit our website at www.mitorxtherapeutics.com and follow us on LinkedIn.

MitoRx Therapeutics secures investment from Science Angel Syndicate to develop its first-in-class therapeutics that target dysfunctional sulfide-signalling in mitochondria to halt the progress of degenerative diseases

By ScienceAngelSyndicate26 Apr 2022