The Venture Codex

Led · Equity · Jun 2023

Zura Bio is a clinical-stage, multi-asset immunology company focused on developing novel dual-pathway antibodies for autoimmune and inflammatory diseases. The company is developing tibulizumab (ZB-106), ZB-168, and torudokimab (ZB-880); all three assets have completed Phase 1/1b studies and are Phase 2 ready. Proceeds from the financing are intended to accelerate development of tibulizumab, including a planned Phase 2 clinical trial in systemic sclerosis and initiation of a Phase 2 trial for hidradenitis suppurativa. The company expects the net proceeds, together with existing cash and cash equivalents, to support operations through 2027. Zura Bio also plans to use funds for general corporate purposes. The company communicated these plans in a press release noting the private placement and related securities disclosures. Zura Bio is a multi-asset clinical-stage biotechnology company led by CEO Dr. Someit Sidhu and traded on Nasdaq as ZURA. Its core pipeline includes tibulizumab (ZB-106), torudokimab (ZB-880), and ZB-168. The company is focused on demonstrating the efficacy, safety, and dosing convenience of these assets across immune and inflammatory indications. Zura Bio plans to use newly raised funds to initiate a Phase 2 clinical trial of ZB-106 in systemic sclerosis, followed by a Phase 2 trial in hidradenitis suppurativa. The company reported approximately $120 million in cash and cash equivalents. It believes this cash runway will be sufficient to fund planned operating expenses and capital requirements through 2026.

Led · Equity · Jun 2019

Bionova Scientific is a full-service biologics CDMO founded in 2014 and based in Fremont, CA, that supports clients from early-stage research material generation through process development to GMP contract manufacturing. Its scientific expertise covers production of recombinant glycoproteins, mAbs, Fabs, enzymes, Fc-fusions and bi-specifics. The company provides process development and manufacturing for clinical-grade protein therapeutics to a global customer base. Bionova plans to complete the build-out of a 57,000 square foot GMP facility in Fremont to expand its clinical manufacturing capacity. Financially, it secured a $22 million growth-equity commitment from Great Point Partners, with $13.3 million funded at closing and a $9 million commitment over the next two years. Great Point's investment is positioned as a strategic growth equity partnership to accelerate the company's manufacturing expansion.

Led · Equity · Jun 2013

iVantage Health Analytics provides health care informatics and business analytics solutions, offering an integrated product suite for hospital management across clinical, functional, and population/market analytics. The company's tools help hospital teams understand complex clinical and financial data to make empirical, evidence-based decisions. iVantage was formed in August 2011 through the merger of four existing health care informatics companies. Its leadership includes CEO Hud Connery, Jr., and executives Thomas Day, John Morrow, and Thomas S. Hutchinson. The company recently secured a $10M equity investment to support growth. Planned uses of the proceeds include expanded sales and marketing, additional investment in technology infrastructure, and personnel expansion.

Led · Equity · Aug 2012

Connecture is a Brookfield, Wisconsin-based provider of web-based information systems used to create health insurance marketplaces and exchanges. Founded in 1997 and led by CEO Doug Schneider, the company develops software designed to streamline and simplify the health insurance distribution process. Connecture intends to use proceeds from the investment to expand and meet demand from states for creation of health insurance exchanges mandated by the Patient Protection and Affordable Care Act (PPACA). The company said it will advance its software as part of that effort. Connecture recently announced plans to develop health insurance exchanges in Maryland and Minnesota. It also plans to hire more than 100 Java developers.

Led · Equity · Mar 2011

Cytovance Biologics is an Oklahoma City, Oklahoma–based contract manufacturing organization serving biotechnology and pharmaceutical companies. It develops and manufactures mammalian and microbial biologics, including proteins, antibodies and cell-based therapeutic products. The company supports customers from clinical development through commercial launch in domestic and international markets. In October 2014 Cytovance received a $20m senior credit facility provided by Monroe Capital. The company intends to use the funds to continue to grow operations. Cytovance Biologics specializes in production of therapeutic proteins and monoclonal antibodies from mammalian cell culture and microbial fermentation. The company offers cGMP manufacturing services as well as process development, cGMP cell banking, in-house analytical development and testing, and a full complement of client support services. Quality control and quality assurance professionals support operations to ensure compliance with contractual and global regulatory requirements. Cytovance partners with biopharmaceutical companies to advance recombinant protein, antibody and cell-based therapeutics from the laboratory bench through clinical development to commercial launch. The company secured a $22.5 million growth equity investment to fund facility, service and personnel expansion to meet growing client demand for clinical trial and commercial-scale cGMP manufacturing. As part of the expansion Cytovance will move into state-of-the-art laboratories at 800 Research Parkway in Oklahoma City and acquired analytical and bioprocess equipment formerly belonging to Genzyme. Great Point Partners will join the board, and the investment marks a transition from angel investors to professional investors; Great Point described Cytovance as rapidly growing and recently profitable.