The Scottish medical research firm has been backed by the CRT Pioneer Fund.

AdoRx, an Edinburgh-based drug-discovery business, has raised $10m in an initial investment round, the company announced today.

Participating in the round were the CRT Pioneer Fund, an investment vehicle set up by Cancer Research Technology and the European Investment Fund, as well as venture capital firm Epidarex Capital.

AdoRx focuses on the discovery of new modulators of the adenosine pathway for the treatment of cancer.