December 16, 2021 -- Alethiomics, a drug discovery company focused on developing targeted therapies to treat myeloproliferative neoplasms (MPNs), launched with 6 million euros ($6.8 million) in seed financing from Oxford Science Enterprises. The company is a spinoff from the University of Oxford.
MPNs are a group of chronic blood cancers that begin with mutations occurring in cancer stem cells in the bone marrow. Currently available treatments, such as JAK2 inhibitors, provide symptomatic benefit but do not address the underlying disease drivers. Many patients remain at risk of disease progression.
Alethiomics uses single-cell multiomic approaches to better understand the biology of mutant-positive stem cells in MPNs and to discover novel molecular targets as the basis for drug discovery. It has also developed platforms for target validation to accelerate successful translation to the clinic.
The seed financing will be used to establish Alethiomics' research operations at the Oxford BioEscalator, to advance its pipeline of programs in MPNs, and to industrialize the company's proprietary Target-seq drug discovery and target prioritization platform, the company said.