Canaan

Excited to see the major financing news today from Halda Therapeutics. The company is trailblazing the development of the novel #RIPTAC modality for the treatment of #cancer, which offer the promise of overcoming treatment #resistance and addressing unmet needs in this field. Congratulations to our own Tim Shannon who serves as the company’s executive chair.

Canaan is proud to have participated in the recent $100M Series C round of financing for Autobahn Therapeutics, Inc.. A leader in the development of novel therapies for #neuropsychiatric and #neuroimmunologic disorders, Autobahn will utilize this new capital to advance the clinical development of multiple promising candidates, including ABX-002 for major depressive disorder and #bipolar disorder depression, and ABX-001 for neuroimmunologic and neuroinflammatory disorders. With the financing, our own Uwe Schoenbeck has joined the Autobahn board of directors. We are excited to follow the company's progress, as well as the key contributions that Uwe is able to make by sharing his extensive experience in drug development. Read the Autobahn announcement here: https://lnkd.in/gnzrDDn2

We're proud to be named to the Forbes Cloud 100 List for the 2nd consecutive year!☁️ Thank you to Bessemer Venture Partners, Forbes and Salesforce for this special recognition! Learn more here: https://okt.to/I8FDJs #Cloud100 #WeAreCSquad #DXA

☁️ Snyk has been named to the Forbes Cloud 100 for the fifth year in a row — coming in at #27! We're excited to continue empowering the world's enterprises to maximize the benefits of the #DevSecOps revolution. Learn about our recent achievements and see why we're on *the* definitive list of the world's top private cloud companies! 🏆 https://snyk.co/uhiWM Thank you to Forbes, Bessemer Venture Partners, and Salesforce Ventures for the recognition. #Cloud100

Big splash this morning from CatalYm GmbH as news of its oversubscribed $150M Series D financing is gaining broad attention throughout the biotech space. Canaan is proud to have co-led this round alongside Bioqube Ventures. The CatalYm team will leverage these news funds to expand its clinical development of #visugromab, starting with new randomized Phase 2b studies in select checkpoint naive frontline and second-line treatment settings. Congrats to Canaan's own Colleen Feriod Cuffaro who sits on the CatalYm board of directors. Read more details in the press release here: https://lnkd.in/dBfHK4sU

Excited to announce Canaan's Series A investment in Nagish, partnering with Tomer Aharoni, Alon Ezer and team as they leverage AI to make accessibility a reality for millions!

Did you know it's estimated training GPT-4 took 50 GWh of electricity - roughly equivalent to powering 5k homes for a year? Check out my colleagues Rayfe Gaspar-Asaoka's, Nandu Anilal's, and my musings on resulting implications for the AI stack below:

Big news from Pathios Therapeutics today as the company has appointed Paul G Higham as its new CEO. Paul brings more than 20 years of C-level executive biotechnology company experience to Pathios. Founding CEO, Stuart Hughes, has transitioned to CSO and will focus on the company’s first-of-its-kind GPR65 inhibition approach to #immuno-oncology. This strengthening of the company's leadership team aligns with Pathios' maturation as it prepares to enter clinical development with its first-in-class GPR65 antagonist by the end of 2024. Read more details in the press release here: https://lnkd.in/espnJXtD

Canaan portfolio company ThirtyFiveBio has been awarded its second prestigious Biomedical Catalyst grant from Innovate UK in less than a year. This non-dilutive funding, which totals more than $815,000, will support the team's continued work on its innovative GPR35 inhibition approach to treating gastrointestinal disease and cancers. Importantly, the work funded by this grant will enable ThirtyFiveBio to create and validate a biomarker-driven process for precision patient selection for its planned clinical trials of its proprietary GPR35 inhibitors. Our Brent Ahrens sits on the ThirtyFiveBio board. Read more details in the press release here: https://lnkd.in/eMdviF45

Day One Biopharmaceuticals is back in the news. On the heels of its recent FDA approval for #Ojemda, the company has joined the antibody-drug conjugate arena through a licensing deal with MabCare Therapeutics. Day One plans to advance the new asset, MTX-13, into the clinic in the coming months. We look forward to following its development. Canaan's Julie Grant is one of the company’s co-founders and a member of its board of directors. #cancer #ADC   https://lnkd.in/gg_jwggu