Matthew Cheng’s Post

📱 If you've not heard of molecular glues, you aren't alone - I wasn't entirely clued up exactly what they were either! Essentially they are small molecules that act as a glue to attach two proteins together, and their discovery was a chance discovery, that has only recently being utilised into a specialised class of pharmaceuticals. They are now also called targeted protein degraders due to their ability to be designed to destroy disease-causing proteins. As a result, molecular glues are now seen as extremely promising solutions to potentially attack targets that were previously considered ‘undruggable.’ Examples of this fall within Oncology, Cardiovascular disease, and Immune disorders. The linked article explores seven start ups developing this technology, drugging the 'undruggable' Thank you to C4 Therapeutics, Inc. Degron Therapeutics Magnet Biomedicine Monte Rosa Therapeutics Orionis Biosciences Proxygen and TRIANA Biomedicines for your incredible contributions into this field. #molecularglue #proteindegraders #startups #Immunology

💰 Biotech's Top Investments This Week! 🚀 🇺🇸 BridgeBio | $200 million private financing | genetic disease and cancer therapies | phase 3 in transthyretin amyloidosis 🇺🇸 Zenas BioPharma | $200 million series C | autoimmune therapies | phase 3 in IgG4-related disease 🇺🇸 Soleno Therapeutics, Inc. | $138 million public offering | rare disease therapies | phase 3 in Prader-Willi syndrome 🇨🇭 ADC Therapeutics | $105 million financing | antibody-drug conjugates  | phase 3 in large B cell lymphoma 🇺🇸 Reunion Neuroscience | $103 million series A | psychedelic treatments | phase 1 in postpartum depression 🇺🇸 Enlaza Therapeutics | $100 million series A | covalent protein technology | preclinical in cancer 🇺🇸 Context Therapeutics | $100 million PIPE | solid tumor therapies | preclinical in multiple solid tumors 🇺🇸 Abeona Therapeutics | $75 million financing | gene therapies | phase 3 in recessive dystrophic epidermolysis bullosa 🇺🇸 Delphia Therapeutics | $67 million series A | cancer therapies 🇺🇸 Latus Bio | $54 million series A | gene therapies | preclinical in CNS diseases 🇺🇸 Eledon Pharmaceuticals, Inc. | $50 million PIPE | immune-modulating therapies | phase 2 in kidney transplantation 🇺🇸 Aileron Therapeutics | $40 million registered direct offering | orphan pulmonary and fibrosis  treatments | phase 1b in idiopathic pulmonary fibrosis 🇺🇸 Qlaris Bio, Inc. | $24 million series B | eye disease therapies | phase 1 in primary open angle glaucoma 🇨🇭 Memo Therapeutics AG | CHF 20 million ($22.01 million) series C extension | antibodies | phase 2/3 for BK virus infection in kidney transplant recipients 🇺🇸 Plus Therapeutics, Inc. | up to $18 million PIPE | radiotherapies | phase 2b in recurrent glioblastoma 🇺🇸 OverT Bio | $16 million seed | cell therapies | preclinical in solid tumors 🇨🇭 BioVersys AG | CHF 12.3 million ($13.54 million) series C | antibacterial products | phase 2 in carbapenem resistant Acinetobacter baumannii  infections Subscribe to our newsletter for more fundraising updates! 🔗 https://lnkd.in/dsgz62YY #fundraising #funding #biotech #venturecapital #fundinground #biotechstartup #seriesa #seriesb #seriesc #investors #IPO #seedfunding

In the first quarter of 2024, one of the biggest VC deal recipients ($254M) was Freenome, a startup dedicated to early cancer detection. Dedicated to controllable cell and gene therapies, Obsidian Therapeutics received $160.5M). Other areas receiving significant funding: The Fight Against Age and Disease: BioAge Labs ($170M) is focused on age-related disease treatments with their lead asset azelaprag aimed at obesity in the elderly. In the autoimmune condition space was Alumis ($259M), which targets autoimmune conditions. Pushing the Frontiers of Precision Medicine: Frontier Medicines raised $80M in Series C to accelerate development of their chemoproteomics platform for novel drug targets. Alumis also secured $259M to advance precision treatments for autoimmune diseases using advanced analytics. Detecting Disease Early: Freenome led the pack with a $254M Series E haul to further their quest to develop accurate, non-invasive cancer screening tests using cell-free genome analysis. Alamar Biosciences, Inc. raised $100M for their ultra-sensitive proteomics platform to diagnose cancer and other diseases at the earliest stages. AI-Powered Drug Discovery: Zephyr AI pulled in $111M to harness artificial intelligence for finding new drug targets, exploiting the latest disease insights. Athos Therapeutics also applies AI and proteomics to uncover novel therapies for cancer and chronic inflammatory diseases. Other Trends: North America Remains a Funding Powerhouse, but China Surges: While traditional biotech hubs thrive, Chinese cities are making substantial gains in attracting VC investment. Europe also saw a significant amount of deal-making activity. More here: https://lnkd.in/g_FgczRr #biotech #VCfunding

€16 million seed injection into immune system activation technology to transform cancer and autoimmune disease treatment Commit Biologics, an Aarhus-based company, has secured €16 million in seed funding led by Bioqube Ventures and Novo Holdings. The company specializes in activating the complement system, a part of the immune system, to treat cancer and autoimmune diseases. Their unique Bispecific Complement Engaging (BiCE™) platform utilizes single domain antibodies to bind to the complement protein C1q, selectively killing target cells. The funding will be used to accelerate the development of the BiCE™ platform, allowing for the creation of highly targeted therapeutics that engage the complement system in a precise manner, potentially revolutionizing cancer and autoimmune disease treatment. https://lnkd.in/gCmhmZqJ #funding #nordicmade #denmark #deeptech #biotech #startups #trending s

Looks like we have a record #biotech fundraising this week 🎰 Here's our tracker: 🇺🇸 BridgeBio Pharma | up to $1.25 billion in strategic financing | genetic disease therapies | phase 3 in transthyretin amyloidosis 🇩🇪 Immatics | $175 million public offering | phase 1 in recurrent and refractory solid tumors 🇺🇸 Viridian Therapeutics | $150 million public offering | antibody discovery and engineering | phase 3 in thyroid eye disease 🇺🇸 ORIC Pharmaceuticals | $125 million PIPE | cancer treatments | phase 1b in multiple myeloma 🇺🇸 Accent Therapeutics | $75 million series C | small molecule therapies | IND-enabling in breast, ovarian, colorectal and endometrial cancers 🇺🇸 Comanche Biopharma | $75 million series B | siRNA therapy | phase 1 in preeclampsia 🇳🇴 Calluna Pharma | EUR 75 million ($81.71 million) series A | immune-related therapies | phase 1 in fibrosis 🇺🇸 Tr1X, Inc. | $75 million series A | regulatory T cell-based therapies | phase 1 in graft versus host disease 🇺🇸 Ratio Therapeutics | $50 million series B | radiotherapies | phase 1 in epithelial-derived cancers 🇺🇸 Locus Biosciences | $23.9 million funding | precision medicine | phase 2 in urinary tract infections 🇺🇸 Granata Bio | $14 million series A | women’s health | phase 3 in infertility 🇺🇸 Vaxart | $10 million registered direct offering | vaccine pills | phase 2 in Norovirus and COVID-19 🇺🇸 TransCode Therapeutics | $7.25 million public offering | clinical in metastatic cancer 🏢 MERGER & ACQUISITION 🇫🇷 Sanofi acquires 🇺🇸 Inhibrx | Sanofi to pay up to $2.2 billion in acquisition deal | recombinant human AAT-Fc fusion protein for alpha-1 antitrypsin deficiency 🇺🇸 NAYA Biosciences to acquire clinical-stage program from 🇺🇸 Florida Biotechnologies | NAYA Biosciences to pay $20 million | Asset acquired: gene therapy for Leber's hereditary optic neuropathy 📌 For more, subscribe to Labiotech.eu

Nature Biotechnology Highlights Evaxion’s Groundbreaking Work in  Identifying Novel Therapeutic Targets in the ‘Dark Genome’! We are thrilled to share that our CSO, Birgitte Rønø, has been featured in a recent article by Nature Biotechnology. The piece, authored by Michael Eisenstein, delves into how several companies are exploring the ‘dark genome’ – the large non-coding segment within our DNA – to identify novel therapeutic targets for treating diseases like cancer, neurodegeneration, and more. 🔬 In the article, Birgitte discusses how reactivated endogenous retroviruses (ERVs) in cancer cells could offer new avenues for developing cancer vaccines. At Evaxion, we’re harnessing this new source of antigens to develop personalized and precision cancer vaccines with the goal of achieving preclinical proof-of-concept in the latter half of 2024. 🧬 As we advance toward this major milestone, our commitment to leveraging AI-Immunology™ to save and improve patients’ lives is stronger than ever. This recognition by Nature Biotechnology highlights our team’s innovative spirit and underscores our research’s potential impact in transforming cancer treatment. 📖 We invite you to read our latest press release, linked below in the comments section, for more insights into our ongoing projects and future directions. #Biotechnology #AI #Vaccines #CancerResearch #Innovation #Healthcare #NatureBiotechnology

Last quarter was one of the best for #biotech funding in many years. Here's how the quarter ended: (Report from 24.04 to 30.04.2024) 💸 FUNDRAISING 🇺🇸 Xaira Therapeutics | $1 billion financing | AI-based drug discovery and development 🇺🇸 Cidara Therapeutics | $240 million PIPE | targeted immunotherapy | phase 2 in seasonal influenza 🇺🇸 Endeavor BioMedicines | $132.5 million series C | drug development | phase 2 in idiopathic pulmonary fibrosis 🇺🇸 Cerevance | $47 million series B | neurodegenerative disease therapies | phase 3 in Parkinson’s disease 🇺🇸 Belite Bio | $25 million registered direct offering | RBP4 antagonists | phase 3 in dry age-related macular disease and Stargardt disease 🇺🇸 RevOpsis | $16.5 million seed | eye disease therapies | IND-enabling studies in age-related macular degeneration 🇫🇷 4P-Pharma | €15 million ($16.1 million) financing | drug development | phase 1 in osteoarthritis 🇬🇧 Infinitopes | £12.8 million ($16.07 million) seed | cancer vaccines | preclinical in cancer 🇬🇧 Locate Bio | £9.2 million ($11.55 million) financing | orthobiologics | preclinical in chronic low back pain 🇺🇸 INmune Bio | $9.7 million registered direct offering | immunology | phase 2 in Alzheimer’s disease 🇺🇸 Mustang Bio | $4 million public offering | cell and gene therapies | phase 1 in non-Hodgkin lymphoma and chronic lymphocytic leukemia 🏦 MERGER & ACQUISITION 🇯🇵 ONO Pharmaceutical to acquire 🇺🇸 Deciphera Pharmaceuticals | $2.4 billion total equity value | Lead asset: KIT Inhibitor for gastrointestinal stromal tumor 🤝 PARTNERING 🇺🇸 Regeneron and 🇺🇸 Mammoth Biosciences collaborate to develop CRISPR-based gene editing therapies | Mammoth to receive $100 million upfront and up to $370 million in milestone payments 📌 For more, follow Labiotech.eu

💰 Biotech's Top Investments This Week! 🚀 🇺🇸 Dyne Therapeutics | $300 million public offering | oligonucleotide therapeutics | phase 1/2 in myotonic dystrophy type 1 🇺🇸 Kymera Therapeutics | $275 million public offering | targeted protein degradation | phase 2 in hidradenitis suppurativa and atopic dermatitis 🇺🇸 Immunic Therapeutics | $240 million PIPE | small molecules | phase 3 in relapsing multiple sclerosis 🇨🇳 Avistone Biotechnology Co., Inc | 1 billion Chinese yuan (~$140 million) series B | targeted cancer drugs | clinical in non-small cell lung cancer 🇺🇸 OnCusp Therapeutics | $100 million series A | oncology assets | preclinical in solid tumors 🇺🇸 Voyager Therapeutics, Inc. | $100 million financing | neurogenetic medicine | IND-enabling studies in Alzheimer’s disease 🇺🇸 HI-Bio | $95 million series B | precision medicine | phase 2 in primary membranous nephropathy 🇺🇸 Remix Therapeutics | $60 million financing | RNA therapeutics | phase 1 in adenoid cystic carcinoma 🇳🇱 VICO Therapeutics B.V. | $60 million (€54 million) series B | RNA modulation | phase 1/2 in spinocerebellar ataxia type 3 🇺🇸 Moonwalk Biosciences | $57 million seed and series A | precision epigenetic medicines 🇺🇸 Claris Bio | $57 million series A | corneal therapies | phase 1/2 clinical trial in neurotrophic keratitis 🇨🇳 🇧🇪 Full-Life Technologies | $47.3 million series B | radionuclide drug conjugates | first-in-human trial in prostate cancer 🇺🇸 C4 Therapeutics, Inc. | $25 million financing | targeted protein degradation | clinical in multiple myeloma & non-Hodgkin’s lymphoma 🇫🇷 Advesya | | €23 million seed round | cancer therapies 🇺🇸 Fortress Biotech | $11 million registered direct offering | drug development | phase 3 in metastatic cancer 🇮🇹 Resalis Therapeutics | €10 million ($10.95 million) series A | non-coded RNA-based therapeutics | phase 1 in obesity 🇬🇧 Cumulus Oncology | £9 million ($11.45 million) seed | cancer drug discovery Subscribe to our newsletter for more fundraising updates! 🔗 https://lnkd.in/dsgz62YY #fundraising #funding #biotech #venturecapital #fundinground #biotechstartup #seriesa #seriesb #seriesc #investors #IPO #seedfunding

Is there hope for equal and equitable funding access to all biotechnologies? This news makes me extremely excited. Freenome is a privately held biotechnology company in the US that is using a multiomics platform to develop blood tests for early cancer detection. They have raised $254 million in a Series F round led by Roche and joined by other existing and new investors. Despite recent swings and challenges in biotechnology funding, this is an outstanding milestone for Freenome and the field of cancer screening and diagnostics, as it indicates the strong interest and support for novel and patient-friendly biotechnologies. I'm very impressed by Freenome's vision, stories, team, and technology. I believe they are making a significant impact in the lives of millions (or soon to be billions) of people with cancer. I am also hopeful that our Gene Solutions and other similar companies, particularly those in Southeast Asia, will be successful in raising funds for the same technology, as there is a significant unmet need and opportunity for early cancer detection, cancer diagnostics, prognosis, and cancer tracking effectiveness (and, of course, at the lowest possible cost) across the region. In terms of worldwide investment, Southeast Asian biotech companies have had an uncomfortable disadvantage. However, I believe the world is hand-tightening to improve cancer care with innovative preventive and therapy. So, worldwide funding would be given equally to all successful efforts, no matter where they are located or where they came from. #biotechnology #cancercare #liquidbiopsy #Freenome #GeneSolutions #SPOTMAS #KTrack #K4Care

Recent Funding:  BioAge Labs (Richmond, CA) is rocketing into the new year $170 million richer thanks to a series D. Sofinnova Partners led the financing, which CEO Kristen Fortney says puts the company in a good position to go public in the future. The new funds extend BioAge's runway into late 2026. The financing was fueled by BioAge's entrance into the #obesity space, validated by a collaboration with Eli Lilly and Company. The money will help pay for a phase 2 trial testing BioAge's lead asset, azelaprag, in combination with Lilly's Zepbound in patients with obesity. Latigo Biotherapeutics, Inc. (Thousand Oaks, CA) came out of stealth on with a $135 million Series A. The company is chasing Vertex Pharmaceuticals in the non-opioid #pain race, tackling the same target as VTX-548. The drug was better than placebo at reducing pain intensity in a recently-reported phase 3 trial but failed to beat Vicodin, the standard of care. Westlake Village BioPartners® founded the company in 2020 and has been incubating it since. The company also expects to launch its second molecule into the clinic in the near future, according to interim CEO Desmond Padhi. Firefly Bio (San Francisco) has broken out of stealth, debuting with $94 million and a novel platform to develop degrader-antibody conjugates (DACs), which combine antibody-drug conjugates (#ADCs) with protein degraders to create a new class of therapies to fight #cancer. The company will focus on solid tumor targets that have already been validated in the clinic, specifically targets that have run up against dose-limiting toxicities and could use a more precise approach. Athos Therapeutics Inc is raising a $35 million Series B. The Torrance, CA-based biotech will deploy the money on its #AI-based precision small molecules for #autoimmune diseases and various #cancer indications. About $10 million of the expected haul will go toward the lead asset, an inflammation and mucosal healing-targeted treatment for inflammatory bowel disease, said CEO Dimitrios Iliopoulos. M&A, Deals, Partnerships: Intellia Therapeutics, Inc. will work with ReCode Therapeutics (Menlo Park) to develop #genetic medicines for cystic fibrosis. The collaboration pairs Intellia’s gene editing platform, which is based on #CRISPR technology, with ReCode’s method for delivering genetic medicines to specific organs. “By combining our highly synergistic technologies and capabilities, we are excited about the potential to enable a faster path for next-generation gene editing therapeutics to CF patients,” said CEO Shehnaaz Suliman, M.D. (MB ChB), M.B.A., M.Phil. FDA Approvals: The FDA announced one of 2024’s most-anticipated approvals: that of Iovance Biotherapeutics, Inc. (San Carlos) lifileucel for advanced #melanoma. Lifileucel—which will be known commercially as Amtagvi—is the first one-time cell therapy for a solid tumor and the first tumor-infiltrating lymphocytes (TIL) therapy to be approved by the FDA.