Ariz secures $685k seed funding

DAVIS, Calif. (PRWEB) October 28, 2020 -- ARIZ Precision Medicine (ARIZ), pronounced “arise”, today announced that it has secured $685,000 in seed financing bringing total funding to date of $2.5 million. “Proceeds will be used to expand the management team as well as continue development of its proprietary PRDM-based product candidates for lung cancer, as well as ovarian, breast, and gastric cancers, and multiple myeloma”, said CEO Brad Niles, PhD.

Moneta Ventures led the investment round with participation from existing and new investors. “ARIZ’s mission aligns strongly with Moneta’s vision to invest in Greater Sacramento region companies that are truly innovating in healthcare and technology,” stated Sabya Das, Partner at Moneta Ventures, who has joined the ARIZ Board of Directors along with Lokesh Sikaria (Moneta) and Kevin Nagle. “Recent animal data on ARIZ-047, the company’s lead candidate for lung cancer, shows efficacy data that is similar to FDA approved lung cancer drugs, but without the toxic side effects. These early studies significantly de-risk the drug development process, and more significantly support the company’s approach to proving that PRDM’s are validated as drug targets for various cancers”.

“ARIZ’s Oncogene Targeting Platform is based on the PRDM gene and protein family that is a key driver of cancers”, stated Lonnie Bookbinder, ARIZ Founder and Executive Chairman of the ARIZ Board of Directors. “Our mission is to make these targets “druggable” so that we can fully exploit the unique properties of the PRDMs to fight cancer and other diseases. With our partners at Keystone Nano and Sphaera Pharma, we are now proceeding with our trials in animal models of cancer”.