DeuteRx LLC, a Boston, MA-based research and development-focused biotechnology company, raised approximately $2.8m in seed financing.
The company intends to use the funds for the advancement of its lead program, DRX-065, into human clinical trials for the treatment of adrenoleukodystrophy (ALD).
Led by Sheila DeWitt, Ph.D., President and Chief Executive Officer, DeuteRx is pioneering “deuterium-enabled chiral switching” (DECS), a new approach to improve racemic (a mixture of two mirror-image compounds or enantiomers) small molecule marketed drugs and drug candidates intended for patients across multiple therapeutic indications.
To date, the company has demonstrated the use of DECS to stabilize the enantiomers of many racemic active ingredients including bupropion, donepezil, pioglitazone, prasugrel, CC-11006, CC-122, and MSDC-0160. DeuteRx’s prioritized single enantiomer product assets are DRX-065 for ALD and NASH, DRX-164 for multiple myeloma and combination therapy with immuno-oncology drugs, DRX-194 for pediatric sickle cell disease, and DRX-184 for CNS disorders.
Founded in December 2012, DeuteRx is a spin-out company from Deuteria Pharmaceuticals, which was sold to a major biopharmaceutical company in December 2012.