WuXi Corporate Venture Fund Participates in Aldea Pharmaceuticals’ $24M Series B Financing

WuXi News
Aldea pharma

Congratulation to our partner Aldea Pharmaceuticals on its closure of $24M Series B financing subscribed by a list of reputable investors including our very own Corporate Venture Fund!

Aldea Pharmaceuticals, based in Redwood City, CA,  pioneers novel therapeutics to treat aldehyde metabolism disorders.  Its lead drug candidate,  AD-6626, activates an enzyme that accelerates metabolism that may help quickly sober up emergency room highly intoxicated patients.  The company is also conducting a study of the drug in oral form against a rare genetic disease of bone marrow, known as  Faconi’s anemia.   This Series B financing will be used to advance AD-6626 into clinical trials, including evaluating proof-of concept for the treatment of subjects with acute alcohol intoxication and funding subsequent Phase 2 trials of intravenous (IV) AD-6626 in an emergency room setting.

We are very delighted to have played a role in Aldea’s endeavor of finding innovative cures for patients, and wish Aldea continued success!

 

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