Azeria Therapeutics, a UK-based drug discovery company based on research from University of Cambridge, has attracted £4m ($5.2m) in series A funding from CRT Pioneer Fund, managed by Sixth Element Capital.
CRT Pioneer Fund is a $79.6m fund launched in 2012 by charity Cancer Research UK’s tech transfer arm, Cancer Research Technology, alongside the EU-owned European Investment Fund.
Founded in 2017, Azeria is developing small molecule therapies targeting prostate and hormone resistant cancer based on information from its drug screening platform.
The company’s first development program aims to affect a DNA-binding transcription protein called FoxA1 linked to the development and progression of tumours, particularly a type of breast cancer where oestrogen causes cancer cells to grow and prostate cancer.
Azeria’s approach builds on the discoveries of founder and chief scientific officer Jason Carroll, a researcher at the Cancer Research UK Cambridge Institute, which is based at the university but receives approximately half of its budget from Cancer Research UK.
Iain Foulkes, executive director of research and innovation at Cancer Research UK, said: “We are delighted to be involved in the formation of this exciting new company.
“We are committed to helping translate the ground-breaking discoveries arising from Cancer Research UK’s research base into urgently needed new treatments for patients with cancer and we are happy to provide support to Dr Carroll to help get this project off the ground.”
