The Venture Codex

Led · Series B · Aug 2021

DoubleRainbow Biosciences leverages advances in genomics, metabolomics, and synthetic biology to access natural therapeutic chemistry at scale without harming the environment. The company has developed proprietary enzyme modification and molecular biosynthesis platforms and has built a robust pipeline of early-stage assets. It is advancing programs across oncology, neurological diseases, and metabolic disorders. DoubleRainbow plans to accelerate its first therapeutic compound into clinical development and to launch its first bioceutical product. The company will use financing to grow its bioceutical division and expand critical R&D and clinical operations teams. DoubleRainbow was founded in 2017 and is based in Cambridge, Mass.

Led · Equity · Oct 2014

Xcovery develops targeted therapeutics for cancer, with its lead program X-396, a small-molecule ALK inhibitor. X-396 is in a Phase 1/2 expansion cohort for non-small cell lung cancer. The company planned to start a Phase 3 registration study for X-396 in early 2015. Xcovery is based in West Palm Beach, Florida, and was founded by Sheridan G. Snyder and Chris Liang, Ph.D. The company is led by Dr. Chris Liang, who serves as Executive Vice President and Chief Scientific Officer. Xcovery received a $20m equity investment from Betta Pharmaceuticals, which gained Chinese rights to X-396. Xcovery Holdings is a holding company that includes Xcovery Vision, a clinical-stage subsidiary focused on ophthalmology and a broader pipeline targeting cancer and inflammatory diseases. The company’s lead ophthalmology program is X-82, an oral tyrosine kinase inhibitor designed to block pathological blood-vessel growth by inhibiting VEGF and PDGF. X-82 was developed by Tyrogenex, an Xcovery-affiliated company funded by Biocatalyst International. Xcovery announced it will initiate a Phase I/II trial of X-82 to assess safety, tolerability, and preliminary biologic activity, enrolling up to 20 patients across three U.S. ophthalmology centers. Enrollment was planned to begin in October 2012 with the study expected to last about 12 months. The company emphasizes a favorable toxicity profile for the oral formulation and the potential for an oral option to treat or prevent wet AMD in the opposite eye.