Participated · Equity · Aug 2026

Avere Therapeutics is advancing AVR-001 (HS-20118), a cyclic peptide IL-23R antagonist designed for once-weekly oral dosing to treat inflammatory diseases including plaque psoriasis, ulcerative colitis, and Crohn's disease. AVR-001 was licensed from Hansoh Pharmaceutical under an exclusive ex-Greater China agreement signed in June 2026 that included $120 million in upfront payments, up to $2.18 billion in development and sales milestones, and mid-single- to low-double-digit royalties. Hansoh generated Phase Ib data in moderate-to-severe plaque psoriasis showing Week 4 and Week 8 PASI and PASI 75 responses comparable on a cross-trial basis to once-daily icotrokinra, and reported a plasma half-life for AVR-001 of approximately 100 hours supporting once-weekly dosing. Avere announced a $500 million private placement (in addition to a $320 million concurrent placement tied to its merger with NextCure) and said the combined $820 million in pre-merger capital should fund the company's operating plan through 2029. The company is merging with NextCure and, upon closing in the second half of 2026, the combined company will trade on Nasdaq as AVRX with Hansoh expected to hold between 30% and 40% of the combined company and to appoint two directors to the board.

Participated · Equity · Jul 2026

Mentari’s lead programs are MT-001, an anti-PACAP monoclonal antibody slated for first-in-human regulatory filings in mid-2026, and MT-002, an anti-CGRP x PACAP bispecific antibody expected to enter regulatory filings in the first quarter of 2027. The programs were discovered by Paragon Therapeutics and have shown strong in vitro potency and favorable pharmacokinetic profiles in preclinical studies. The therapies are designed to target complementary migraine pathways and address patients who experience limited benefit from currently approved anti-CGRP treatments. Mentari announced a $290 million private placement that it says will fund operations through 2028 and entered an all-stock merger agreement with InMed Pharmaceuticals to gain public market infrastructure. Following the transaction the combined company is expected to trade on the Nasdaq Capital Market and have a pro forma equity value of approximately $421.4 million, with pre-merger InMed shareholders holding about 1.51% of the combined company. The company and merger parties expect to accelerate development timelines and pursue regulatory filings according to the stated milestones.

Participated · Series B · Sep 2022

Rivus Pharmaceuticals is a Charlottesville, VA–based clinical-stage biopharmaceutical company focused on mitochondrial biology and advancing a new class of medicines called Controlled Metabolic Accelerators (CMAs). Its lead small-molecule candidate, HU6, is designed to safely harness mitochondrial uncoupling to selectively reduce fat and address obesity, a primary driver of cardio-metabolic disease. Earlier this year the company released Phase 2a metabolic study data in obese participants that provided proof-of-concept validation for CMAs. Rivus positions HU6 as a potential treatment across a range of cardio-metabolic indications, including obesity, HFpEF, type 2 diabetes and NAFLD/NASH. The company intends to use recent financing to advance HU6 through clinical development. Allen Cunningham serves as President and CEO. Rivus Pharmaceuticals is a Charlottesville, Va.-based biopharmaceutical company focused on improving cardio-metabolic health. It is developing a new class of oral, once-daily small-molecule therapeutics called Controlled Metabolic Accelerators (CMAs) to treat underlying causes of metabolic and cardiovascular diseases. CMAs are designed to activate mitochondrial uncoupling in a measured way by ferrying protons out of the mitochondrial intermembrane space, which cues increased oxidation of sugars and fats while maintaining baseline ATP production. This mechanism is intended to reduce accumulated fat and prevent additional fat accumulation across the body. The company is advancing a pipeline targeting type 2 diabetes, severe hypertriglyceridemia, non-alcoholic steatohepatitis and heart failure with preserved ejection fraction (HFpEF). Rivus is led by President and CEO Allen Cunningham and is currently conducting a Phase 2a clinical study with its lead CMA therapeutic, HU6. It closed a $35m Series A to fund continued development of its pipeline.

Participated · Equity · Feb 2018

Moderna is building a broad portfolio of vaccines while advancing a late-stage clinical pipeline. The company plans to grow its seasonal vaccine offering from three approved products today to as many as six by 2028. Management projects that total revenue will rise 10 % in 2026. Cash generated from existing vaccine products is earmarked for investment in oncology and rare disease programs, laying the groundwork for further growth in 2027 and 2028. Early-stage pipeline investments are expected to begin maturing in 2029 and beyond. Access to newly secured credit strengthens the firm’s liquidity to support these initiatives.

Participated · Equity · Jan 2012

Vivoryon Therapeutics is a therapeutics company; the article does not elaborate on its specific drug programs or markets. The company recently completed a capital raise through a private placement, securing what the article characterizes only as “millions.” This influx of capital is expected to bolster its balance sheet and finance ongoing operations and development work. No details were provided regarding revenue, user metrics, or commercial milestones. The report also omits information on the company’s valuation or cash runway prior to the transaction. Overall, the article focuses almost exclusively on the fact that the firm has raised additional funds.