Participated · Series B · Jan 2026

Mediar Therapeutics focuses on neutralizing fibrosis-driving pathways with human IgG1 antibodies that inhibit specific extracellular proteins. Its lead candidate, MTX-474, an EphrinB2 antagonist, is now in a 90-patient global Phase 2a trial (EncompaSSc) for systemic sclerosis. MTX-463, a WISP1-targeting antibody partnered with Eli Lilly, is enrolling patients in a Phase 2a study for idiopathic pulmonary fibrosis after completing Phase 1. A third program, MTX-439, a SMOC2 antagonist for chronic kidney disease-associated fibrosis, is moving toward Phase 1 in the first half of 2026. Management reports that, including the latest financing and the Lilly partnership, the company has secured approximately $175 million to date, providing runway to advance all three assets through early and mid-stage clinical trials. Mediar’s strategy combines novel targets, blood-based biomarkers, and well-characterized antibody modalities to enable a potential precision-medicine approach in fibrotic diseases.

Participated · Series A · Mar 2023

Curreio is a biotechnology company that provides Cryo‑Electron Microscopy (Cryo‑EM) structural‑analysis technology to accelerate drug discovery. The company determines high‑resolution structures of disease target proteins and ligand complexes, with particular strength on integral membrane protein families. Over the past three years Curreio has worked on more than 20 protein targets and solved structures for over 80% of them; roughly 70% of targets were integral membrane proteins. It integrates Cryo‑EM outputs with AI‑driven computational chemistry to increase hit rates while lowering R&D time and cost, and currently has four ongoing R&D projects. The team reports having extended its platform to analyze lower‑molecular‑weight targets (approximately 60 kDa) with ligands (publication in preparation). Curreio plans to use recent financing to further accelerate R&D programs and broaden its Cryo‑EM platform applicability.

Participated · Series C · Dec 2022

Pulmocide is a clinical-stage biopharma focused on developing opelconazole, a potent azole formulated for inhalation to maximize lung exposure while limiting systemic exposure. Opelconazole has shown generally good tolerability and notable clinical responses in the UK Special Needs programme. The company has launched an advanced global registration program for patients who have failed first-line therapy for invasive pulmonary aspergillosis and is running a phase 2b trial of opelconazole monotherapy for prophylaxis in lung-transplant patients. Pulmocide says the inhaled profile could be useful across a range of Aspergillus-related conditions, including chronic pulmonary aspergillosis, cystic fibrosis and severe asthma. The recent financing will be used to accelerate clinical development, scale manufacturing and prepare for commercialization of the lead candidate. Investors named in the announcement include both new and historical backers supporting continued program advancement. Pulmocide is a U.K.-based biotech developing opelconazole, an inhaled antifungal intended to prevent Aspergillus infections in lung transplant recipients. The company's lead program targets invasive pulmonary fungal infections after lung transplantation and could also address chronic Aspergillus in people with cystic fibrosis. The Cystic Fibrosis Foundation invested $3.5 million to support a multicenter Phase 2 study focused on safety, tolerability, and patients' ability to complete the treatment regimen. The Phase 2 trial will assess whether inhaled administration is better tolerated, has fewer drug–drug interactions with common transplant medicines, and can be administered at home rather than at a transplant or CF care center. The funding is provided through the CF Foundation's Lung Transplant Initiative and is the Initiative's first clinical-stage lung transplant trial. No other financial metrics or past fundraising rounds were disclosed in the announcement. Pulmocide is a late-stage biopharmaceutical company developing novel inhaled therapies for patients with serious acute and chronic respiratory diseases. Its lead product, PC945, is a novel triazole antifungal specifically designed for inhaled use to maximise lung drug levels while minimizing systemic exposure. When nebulized, PC945 accumulates in lung airway epithelial cells and macrophages to deliver sustained doses to the site of infection. Under compassionate use in several UK clinical centers PC945 was well tolerated and demonstrated notable clinical responses in patients who had failed other therapies, with case reports published in the Journal of Heart and Lung Transplantation. The company plans a global Phase III registration program in invasive pulmonary aspergillosis and expects to begin patient recruitment later this year. Pulmocide raised $92 million in an oversubscribed Series C to fund the PC945 registration program. Pulmocide develops novel small-molecule medicines designed for inhaled delivery to treat RSV and pulmonary aspergillosis. The company’s lead assets include PC786, a highly potent inhaled RSV antiviral, and PC945, a potent azole antifungal for pulmonary Aspergillosis. Pulmocide is led by CEO Dr Garth Rapeport and is based in London, UK. The company intends to use the Series B proceeds to progress its wholly-owned assets through early clinical development. It is on track to deliver proof-of-concept data for PC786 in a human RSV challenge and in infants hospitalized with bronchiolitis due to RSV. The PC945 program will be advanced toward indications including fungal asthma, pulmonary Aspergilloma, infections in lung transplant recipients, and cystic fibrosis patients. Pulmocide develops a new generation of inhaled medicines to treat serious viral and fungal infections of the respiratory tract. The company focuses on inhaled therapeutic formulations targeting respiratory pathogens. Leadership includes Garth Rapeport (CEO) and Pete Strong (CSO). Pulmocide raised £17m in a Series A financing to advance its programs. Backers listed in the round include Imperial Innovations, SV Life Sciences, Fidelity Biosciences and Johnson & Johnson Development Corporation. The company will be based at the Imperial BioIncubator in London.

Participated · Series B · Jun 2022

LUCA Science is a preclinical-stage biopharmaceutical company pioneering a new class of mitochondrial therapy to restore cellular bioenergetics in dysfunctional or damaged tissues and organs. The company uses its proprietary Mitochondrial Isolation Technology (MIT) platform to manufacture intact, shelf-stable and highly functional isolated mitochondria as quality-controlled biopharmaceutical agents. Proceeds from the recent financing will be used to accelerate research and development toward IND submission, expand CMC capabilities, and establish a robust manufacturing system based on the MIT platform. LUCA Science is also advancing its pipeline with a view to target additional therapeutic areas in collaboration with academic and industry partners. The company is headquartered in Tokyo, was established on December 25, 2018, and employs about 20 people. CEO Rick C. Tsai said the financing will enable further investment in CMC and help accelerate R&D to bring mitochondria-based therapeutics closer to patients. LUCA Science is a preclinical-stage biopharmaceutical company developing functional mitochondria as therapeutic agents to treat damaged tissues and organs. The company’s platform produces highly functional mitochondria that can be stored and delivered as a biopharmaceutical product. LUCA’s proprietary mitochondrial engineering technology is designed to enhance mitochondrial quality and function from the cell source through to the target site of delivery. Targeted applications described include treatment of myocardial and cerebral infarction and reversal of immune cell exhaustion in cancer and infectious diseases, among other unmet medical needs. The company collaborates with Japanese and international academic institutions to develop clinical applications across multiple therapeutic areas. With the new funding, LUCA plans to accelerate research and development of advanced drug delivery and formulation to realize functional mitochondria as therapeutic agents.

Participated · Series B · Jun 2021

Glycomine is a clinical-stage biotech based in San Carlos, California, focused on developing transformative therapies for rare orphan diseases. Its lead candidate, GLM101, is a first-in-class mannose-1-phosphate replacement therapy designed to deliver mannose-1-phosphate into cells and bypass disease-causing PMM2 mutations to restore N-glycosylation. GLM101 has received Orphan Drug Designation in the U.S. and E.U., and Rare Pediatric Disease and Fast Track designations in the U.S. The company has enrolled more than 20 patients across Europe and the U.S. in an ongoing Phase 2 open-label study and has initiated dosing in pediatric patients. Data from the Phase 2 open-label study showed an average 11.9-point improvement on the ICARS among nine adult and adolescent patients over 24 weeks, providing clinical proof of concept for improvement in ataxia. Glycomine recently announced a $115 million Series C financing to support advancing GLM101 into a randomized, placebo-controlled Phase 2b safety and efficacy study later this year. Glycomine is a biotechnology company based in San Carlos, California, developing therapies for orphan diseases. Its lead candidate, GLM101, is a mannose-1-phosphate substrate replacement therapy designed to deliver mannose-1-phosphate intracellularly to bypass PMM2 enzyme deficiency and restore N-glycosylation. Preclinical studies have shown GLM101 can restore disrupted glycosylation pathways in PMM2-CDG. GLM101 has received Orphan Drug Designation in the U.S. and Europe and Rare Pediatric Disease Designation in the U.S. Glycomine plans to use the Series B proceeds to advance GLM101 into initial clinical trials and confirm clinical potential across PMM2-CDG genotypes. The company focuses on replacement therapies targeted to clinically relevant cellular compartments for rare metabolic and protein-misfolding disorders. Glycomine focuses on developing orphan drugs for serious rare monogenic disorders of metabolism and protein misfolding. The company’s approach combines replacement therapies—substrates, enzymes, or proteins—with delivery vehicles made of bio-nanomaterials or ligands to target molecules to the cell interior of relevant organs. Glycomine intends to use the new capital to advance its substrate replacement therapy for PMM2‑CDG (CDG‑1a) into early-stage clinical studies. The company raised $33m in a Series B financing led by Novo Holdings A/S. In connection with the financing, Peter McWilliams, Ph.D., moved from acting CEO to full-time CEO. Kenneth Harrison, Ph.D., of Novo Ventures and Chris Starr, Ph.D., joined the company’s board. Glycomine is a San Francisco, CA–based biotechnology company developing a new generation of replacement therapies for rare monogenic disorders of metabolism and protein misfolding. Its approach combines replacement therapies—substrates, enzymes, or proteins—with intracellular delivery vehicles consisting of bio‑nanomaterials or targeting ligands to deliver molecules into clinically relevant organs. The company is led by CEO Agnes Rafalko, PhD, with Christopher Starr, PhD serving as Executive Chairman. Glycomine raised $12m in a Series A financing to advance its pipeline. The company intends to use the funds to complete IND‑enabling preclinical studies and initiate clinical studies of a substrate replacement therapy in patients with Congenital Disorder of Glycosylation Type Ia (CDG‑Ia). Proceeds will also be used to accelerate discovery efforts toward an enzyme replacement therapy for N‑glycanase deficiency (Ngly1).