The university spin-out is developing a new approach to the treatment of autoimmune diseases.
Azadyne, a spin-out from Trinity College, has raised €1.75m in an investment round led by NCL Technology Ventures and new private investors.
“Azadyne’s approach to autoimmune disease is unique, and has the potential to be a game-changer in a huge area of unmet need,” said Jonathan Synettt, CIO of NCL.
‘With this investment we see the results of all our efforts to build and support a team capable of developing great science into a business’
– DR DECLAN WELDON
Azadyne’s novel approach to treating autoimmune disease focuses on an unexplored pathway in the body and is based on research conducted at Trinity by associate professor in biochemistry Vincent Kelly, professor of synthetic chemistry Stephen Connon and assistant professor in chemistry John Michael Southern.
Azadyne’s proprietary and innovative approach via the tRNA guanine transglycosylase (TGT) enzyme pathway has shown striking efficacy in pre-clinical studies against a range of autoimmune diseases yet does not compromise the body’s immune system. The company is currently completing pre-clinical work on its lead molecule.
“Our approach to autoimmune disease has the capacity to provide treatment to a number of diseases with no cure, including multiple sclerosis,” explained Azadyne’s CEO Dr Jason Rutt.
The research conducted in Trinity was supported by the European Regional Development Fund via Enterprise Ireland, the Health Research Board and Science Foundation Ireland. Azadyne was advised and assisted throughout by Trinity’s Technology Transfer Office.
“We are very pleased that NCL have recognised the potential of Azadyne by investing at this early and critical stage,” said Dr Declan Weldon, deputy director of Trinity Research and Innovation.
“With this investment we see the results of all our efforts to build and support a team capable of developing great science into a business,” Weldon said.