Participated · Series B · Apr 2020

Cadent Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies to improve cognitive, mood, and movement disorders. Its lead asset, CAD-9303, is a novel, first-in-class positive allosteric modulator (PAM) of NMDA receptors being evaluated for cognitive deficits and negative symptoms of schizophrenia in the multicenter Affinity-1 randomized, placebo-controlled trial. The company plans to use the Series B proceeds to advance CAD-9303 and has continued patient enrollment during the COVID-19 pandemic. Cadent has paused initiation of its planned CAD-1883 trial in spinocerebellar ataxia to prioritize resources for CAD-9303. The company also holds an exclusive license and collaboration with Novartis to develop a negative allosteric modulator now in Phase 2 for treatment-resistant depression. Management states the financing provides cash runway into the second quarter of 2021. Cadent Therapeutics is developing breakthrough therapies for movement and cognitive disorders using novel allosteric modulators of ion channels to improve neuronal firing regularity. Its lead program, CAD-1883, an SK (small conductance calcium-sensitive potassium channel) positive allosteric modulator, is in a Phase 1 dose escalation trial for essential tremor and spinocerebellar ataxia and has been well-tolerated to date. A second program is in preclinical development to positively modulate NMDAr to address hypofunction in schizophrenia and has shown restoration of auditory novelty detection in preclinical models. Cadent also has an exclusive license and collaboration with Novartis to develop an NMDA receptor modulator — described as a negative allosteric modulator now in Phase 1 for treatment-resistant depression. The company recently appointed Bob Dagher, M.D., as Chief Medical Officer and has expanded its board with representatives from investor groups. Cadent raised a $40 million Series B to advance its pipeline and continue clinical development. Mnemosyne Pharmaceuticals is an emerging biotech based in Providence, RI, focused on discovery and development of small-molecule SNRMs targeting the NMDA receptor for neuropsychiatric indications. The company’s two lead programs target schizophrenia and Rett Syndrome, and it is exploring additional indications including depression with hopes to partner those programs. Mnemosyne says its SNRMs aim to potentiate a specific NMDA subunit to improve cognition and address positive and negative symptoms of schizophrenia. Proceeds from the recent financing will support the company’s drug discovery efforts and advancement of the lead programs. The company is led by president and CEO Kollol Pal, Ph.D., and emphasizes the NMDA receptor’s role in learning and memory within the broader $80B mental health market. Mnemosyne Pharmaceuticals is a Providence, Rhode Island–based biotechnology company focused on the discovery and development of small molecule drugs to treat neuropsychiatric disorders. Its discovery efforts target the NMDA receptor, which the company describes as a master switch for learning and memory. The firm's lead program targets schizophrenia, and it is exploring additional indications including Alzheimer’s disease, recovery from stroke and traumatic brain injury, and attention deficit/hyperactivity disorder. Mnemosyne intends to use new capital to advance its drug discovery programs and identify lead product candidates. The company was founded in 2010 and is led by president and CEO Kollol Pal, Ph.D. Mnemosyne Pharmaceuticals is a Providence-based biotech developing a new class of drugs, Subunit Selective NMDA Receptor Modulators (SNRMs), targeting the $60B neuropsychiatry market. The company is building a capital-efficient research platform and plans to rely on collaborative partnerships with service providers to support drug discovery and development. It also intends to form strategic partnerships with pharmaceutical and biotech companies to provide research support and opportunities for later-stage clinical development and commercialization. Mnemosyne was launched with seed funding from the state-backed Slater Technology Fund and recently landed a $250,000 investment from that same fund. The founders are pharmaceutical and biotech industry scientists and executives with over 70 years of combined experience, and the company is supported by scientific advisors who are thought leaders in neuropsychiatry.

Participated · Series B · Oct 2019

Elicio Therapeutics is an immuno-oncology vaccine developer working on precision vaccines, immune stimulants and cell therapies. The company announced it signed a subscription agreement with GKCC, LLC. That agreement is for a private placement described as a strategic investment. The private placement’s total proceeds are expected to be approximately $7 million before deduction of fees. The announcement was reported on December 25, 2023 by DoNews. No operating metrics or prior financings are detailed in the article. Elicio Therapeutics is a clinical-stage biotechnology company engineering Amphiphile (AMP) lymph node-targeted immunotherapies and vaccines. Its proprietary AMP platform delivers antigens and immunomodulators to lymph nodes by hitchhiking on albumin to amplify T cell responses. The company is developing a pipeline that includes ELI-002, a KRAS-targeting therapeutic vaccine currently dosing in Cohort 3 of a Phase 1/2 AMPLIFY-201 trial. GIRF awarded Elicio a $2.8 million grant to advance preclinical and translational research on two additional candidates, ELI-007 (BRAF V600E peptide vaccine) and ELI-008 (p53 hotspot mutation peptide vaccine). ELI-007 and ELI-008 are being pursued as multivalent cancer vaccines to target shared neoantigens across tumor types such as colorectal cancer, melanoma and NSCLC. The AMP platform originated at MIT and is being applied across cancers and infectious disease indications to promote durable tumor-specific immunity. Elicio Therapeutics develops immunotherapies that precisely target lymph nodes via its Amphiphile (AMP) platform to amplify anti-tumor and infectious-disease immune responses. Its lead program, ELI-002, is an AMP KRAS vaccine combining AMP-CpG adjuvant and AMP mKRAS peptides aimed at a broad spectrum of KRAS mutations. Proceeds from the financing will advance ELI-002 into clinical trials, with initial patient studies planned for the first quarter of 2021. The company describes a pipeline of IND-ready and preclinically validated AMP candidates across therapeutic vaccines, adjuvants, and cell-therapy activators. Elicio works with collaborators including MIT, the National Cancer Institute, Moffitt Cancer Center, Boston Children’s Hospital, and QIMR Berghofer to advance its platform and expand commercial partnerships. The company positions its multi-targeted vaccine approach as differentiated from single-isoform small-molecule KRAS inhibitors. Elicio Therapeutics develops lymph node–targeted Amphiphile immunotherapies, including lead candidate ELI-002, an Amphiphile mKRAS vaccine designed to target seven KRAS mutations that drive the vast majority of mKRAS cancers. The company’s Amphiphile platform is intended to deliver immunogens and cell-therapy activators directly to the lymphatic system to amplify anti-tumor immune responses. ELI-002 has completed preclinical validation, IND‑enabling GLP toxicology studies, GMP manufacturing, and a pre‑IND meeting with the FDA. Elicio plans initial patient studies in pancreatic and colorectal cancer in the first half of 2020, with initial pancreatic patient data expected in the second half of 2020. The company is advancing a broader preclinical pipeline of lymph node–targeted immunotherapies.

Participated · Equity · Jun 2017

Gamida Cell develops NAM-modified allogeneic cell therapies intended to treat hematologic malignancies. Its lead product, Omisirge (omidubicel-onlv), is an FDA-approved nicotinamide-modified allogeneic hematopoietic progenitor cell therapy. The company also advances GDA-201, an intrinsic natural killer (NK) cell therapy candidate. Gamida leverages proprietary nicotinamide technology to enhance and expand cells for potentially curative treatments. Recent leadership changes (CEO Dr. Joe Wiley, CFO Rory Nealon, CCO Sheila Frame) accompany a new ownership structure and capital infusion to support commercialization. The company now operates as a wholly owned subsidiary of Ayrmid Limited (a UK entity) and is pursuing broader access to Omisirge while continuing R&D and manufacturing efforts. Gamida Cell is a clinical-stage developer of cellular and immune therapies focused on treatments for cancer and orphan genetic diseases. Its lead product, NiCord, is an FDA Breakthrough Designated, stand-alone graft derived from a single umbilical cord blood unit expanded using the company’s proprietary NAM technology. NiCord is being developed to facilitate bone marrow transplantation for patients without a rapidly available fully matched donor and the company is currently enrolling an international, multi-center Phase 3 registration study. Gamida Cell’s pipeline also includes CordIn for rare genetic diseases and NK cells as a treatment for cancer, and the company is developing products to address conditions such as sickle cell disease, thalassemia, aplastic anemia, and other genetic and refractory autoimmune diseases. The company plans to expand in-house manufacturing capacity and increase its presence in the US to support late-stage development and commercialization. Gamida Cell develops cellular and immune therapies targeting cancer and orphan genetic diseases. Its core programs include NiCord for hematological malignancies, CordIn for sickle cell disease and thalassemia, and NK cell therapies for cancer. The company is conducting a Phase 3 registration study for NiCord and clinical trials for CordIn and NK cells. It received up to $4.4M in non-dilutive grant funding from the Israel Innovation Authority to support ongoing R&D and these clinical programs. The pipeline also targets bone marrow failure syndromes, genetic metabolic diseases and refractory autoimmune diseases. Gamida Cell is led by Dr. Yael Margolin and counts Novartis, Elbit Imaging, Clal Biotechnology Industries, Israel Healthcare Venture, Teva, Denali Ventures and Auriga Ventures among its shareholders. Gamida Cell develops cellular and immune therapies targeting cancer and orphan genetic diseases. Its pipeline includes programs for cancer, genetic hematological diseases such as sickle cell disease and thalassemia, genetic metabolic diseases, and refractory autoimmune diseases. NiCord is an experimental product for high‑risk hematological malignancies derived from a single cord blood unit expanded and enriched with stem cells and immune modulatory cells using the company’s proprietary NAM technology. The company plans to initiate a Phase III clinical trial of NiCord in mid‑2016. Novartis is a significant financial backer and has committed additional equity funding to advance clinical programs. Gamida Cell’s shareholders also include Elbit Imaging, Clal Biotechnology Industries, Israel Healthcare Venture, Teva Pharmaceutical Industries, Denali Ventures and Auriga Ventures. Gamida Cell is a Jerusalem-based provider of stem cell expansion technologies and therapeutic products. Its lead investigational product, NiCord, is derived from a single cord blood unit and expanded and enriched with stem cells using the company’s proprietary NAM technology. NiCord is being evaluated as the sole stem cell source in a Phase I/II study for hematological malignancies including leukemia and lymphoma. The company is led by president and CEO Dr. Yael Margolin. In connection with development plans for NiCord, Gamida Cell received a $35M strategic investment from Novartis Pharma. The deal includes equity and an acquisition option tied to development milestones, providing potential near-term funding and a path to commercialization.

Participated · Equity · Jan 2016

Pi-Cardia develops non-implant catheter-based solutions for treating valve calcification. Its lead product, the Leaflex™ Performer catheter, is delivered and positioned on the valve to mechanically score calcification at multiple locations, restoring leaflet flexibility and improving valve hemodynamics. The company is led by CEO and Founder Erez Golan and is chaired by Professor Jacques Séguin. Pi-Cardia closed a $27m financing round to advance its clinical program. The company intends to use the funds to demonstrate the therapeutic effect of aortic valve scoring over time through parallel clinical trials in the United States and Europe. The article describes Pi-Cardia as a global leader in this area. Pi-Cardia developed the Leaflex™ Catheter System, a novel non-implant low-profile trans-femoral catheter that uses Nitinol elements to deliver mechanical energy and create fractures in valve calcification. The company intends to use recent financing to complete development of a second-generation device and to continue clinical studies toward CE-Mark. In 2015 it completed enrollment of the first set of patients in its first-in-man (FIM) study in Europe, demonstrating safety and feasibility. Pi-Cardia completed a $10M financing round to support these efforts. The company was founded in 2009 and is based in Rehovot, Israel. Ongoing clinical work and device development are the company’s primary near-term activities.

Participated · Series A · Oct 2015

Neon Therapeutics is a clinical-stage immuno-oncology company focused on directing the immune system toward neoantigens using a proprietary platform. Its lead product candidate, NEO-PV-01, is a personal neoantigen vaccine currently in a Phase 1b open-label trial for metastatic melanoma, non-small cell lung cancer, and bladder cancer. The company is also advancing NEO-PTC-01, a personal neoantigen T cell program, in preclinical development. Neon employs two development approaches: NEON/ONE for individualized neoantigens and NEON/SELECT targeting shared neoantigens across patient subsets and tumor types. Proceeds from its Series B crossover financing will support ongoing clinical and preclinical programs and continued development of the NEON/SELECT approach. The company positions itself as a leader in the neoantigen-targeted therapy field. Based in Cambridge, Mass., Neon Therapeutics develops therapeutics leveraging neoantigen biology to target cancer. Its lead program, NEO-PV-01, is a fully personalized neoantigen vaccine currently in a Phase 1b clinical trial. The company is also advancing NEO-PTC-01, a personalized adoptive T cell program in preclinical development, and a Shared Neoantigen Program. Neon operates a neoantigen-based product engine that enables multiple modalities, including next-generation vaccines and T cell therapies targeting both personalized and shared neoantigens. The company’s vaccine program builds upon research from the Broad Institute and Dana-Farber Cancer Institute. Neon recently completed a $70 million Series B financing to fund these programs. Neon Therapeutics is an immuno-oncology company building a neoantigen-based product engine to develop therapeutic vaccines and T cell modalities that target both personalized and shared neoantigens. Its lead program, NEO-PV-01, is a personalized neoantigen vaccine that builds on clinical research from the Broad Institute and Dana-Farber Cancer Institute and is already in multiple clinical trials. The company plans to initiate a company-sponsored clinical development program while supporting ongoing academic trials and to advance identification and delivery of the most effective neoantigens. Neon is also developing personalized T cell therapies that leverage its epitope-prediction and immune-monitoring capabilities. The founding team includes globally recognized experts in neoantigen biology and tumor immunology, such as James Allison, Eric Lander and Catherine Wu, who will continue to guide the company. Neon intends its therapies to be complementary to existing immunomodulatory approaches and to provide durable anti-tumor immune responses.