Participated · Series C · Apr 2022

Neuron23 is developing NEU-411, a potent, selective, brain-penetrant oral inhibitor of the LRRK2 kinase pathway intended to treat LRRK2-driven Parkinson’s disease. The company is running the global Phase 2 NEULARK clinical trial that prospectively identifies patients with LRRK2-driven disease and randomized them to receive NEU-411 or placebo for a 52-week treatment period. NEULARK is among the first Parkinson’s trials to apply a precision medicine approach and uses Roche’s smartphone-based digital biomarker software to frequently monitor motor and non-motor symptoms. Neuron23 has identified single-nucleotide polymorphisms predicted to drive LRRK2 overactivity in up to 30% of people with idiopathic Parkinson’s disease and includes people with LRRK2 gene mutations in its target population. The company is expanding NEULARK into Israel with clinical sites in Tel Aviv, Jerusalem, and Haifa and recently screened its first patient there. Neuron23 has partnered with Sano Genetics to streamline referrals and offer saliva test kits to identify potential trial participants. The $2.5 million grant from The Michael J. Fox Foundation will support site activation and patient screening for the Israeli expansion.

Led · Series C · May 2021

Numab Therapeutics is a clinical-stage biopharmaceutical company based in the Zurich area/Waedenswil, Switzerland, focused on next-generation multispecific antibody-based immunotherapies for oncology and inflammation. The company uses proprietary MATCHTM (and Lambda-capTM) technologies to design multi-specific drug candidates with versatility and developability in mind. Its lead product, NM21-1480, is designed to target 4-1BB, PD-L1 and human serum albumin simultaneously, aiming to combine PD-L1 blockade with tumor-localized 4-1BB co-stimulation. Numab positions NM21-1480 as having best-in-class potential and intends to expand its clinical development into multiple cancer indications. The company recently completed an oversubscribed CHF 100 million Series C financing to accelerate and expand clinical development and advance its pipeline into clinical trials. Leadership includes Founder and CEO David Urech, Ph.D., and the financing brought new board additions from investors. Numab Therapeutics develops multispecific antibody-based therapeutics using its MATCH plug-and-play platform, which supports molecules with up to six binding specificities. Its lead candidate, ND021, is a PD-L1x4-1BBxHSA trispecific designed to simultaneously target PD-L1 and 4-1BB with a half-life extending HSA-binding motif. The company has partnered with firms including 3SBio, Eisai and Ono Pharmaceutical to advance its multispecific approach. Numab plans to start a clinical trial of ND021 this year and will allocate part of its recent financing to that trial. It also intends to expand its pipeline and advance other assets toward the clinic, including a preclinical anti-TNF antibody fragment for inflammatory bowel disease and several undisclosed multispecifics for chronic inflammation and immuno-oncology. The firm positions ND021 as potentially delivering existing immuno-oncology efficacy with a cleaner toxicity profile versus competing PD-L1/4-1BB programs.

Participated · Series B · Apr 2020

iTeos Therapeutics develops novel cancer immunotherapies and maintains a pipeline that includes drugs designed to influence the tumor microenvironment. The company is described as a biotech focused on new tumor immune therapies. Its development pipeline specifically includes agents that act on the tumor microenvironment. The article reports that iTeos recently received a strategic investment. The investors named are Boxer Capital and RA Capital Management. The amount of the investment was not disclosed in the article. iTeos Therapeutics is a clinical-stage biotechnology company developing next-generation immunotherapies that target the adenosine pathway and regulatory T cells (Tregs). Its lead programs are EOS-850, an adenosine A2A receptor antagonist in a Phase 1/2 study as a single agent and in combination, and EOS-448, a fully human ADCC‑enabled anti‑TIGIT antibody that entered the clinic. The company plans to initiate dosing for the combination cohorts of the EOS-850 trial in the second quarter of 2020 and recently initiated the Phase 1 portion of the EOS-448 Phase 1/2 study. Proceeds from the financing will support advancement of these clinical programs and additional first‑in‑class preclinical programs targeting the adenosine pathway and Tregs. iTeos is led by President and CEO Michel Detheux and is headquartered in Cambridge, MA with a research center in Gosselies, Belgium. iTeos Therapeutics is a clinical-stage biopharmaceutical company focused on next-generation cancer immunotherapies targeting adenosine and regulatory T cell pathways. Its lead program, EOS-850, is a best-in-class adenosine A2A receptor antagonist currently in a Phase 1b/2a study across four European sites with planned expansion to the United States. A second program, EOS-448, is a fully human ADCC-enabled anti-TIGIT antibody expected to enter Phase 1 in Belgium in early 2020. The company maintains headquarters in Cambridge, MA and a research center in Gosselies, Belgium. iTeos was founded by the Ludwig Institute for Cancer Research and the de Duve Institute. Financially, the company recently received non-dilutive support and has previously completed a $75 million (€64 million) Series B financing in 2018 led by MPM Capital. iTeos Therapeutics develops next-generation cancer immunotherapies with a pipeline focused on modulating the tumor microenvironment. The company plans to move EOS100850, an insurmountable and non‑brain penetrant adenosine A2A receptor antagonist, into the clinic in 2018 and toward clinical proof‑of‑concept, and EOS884448, an anti‑TIGIT antibody, into the clinic in 2019. Its pipeline also includes additional drug candidates targeting the tumor microenvironment. iTeos intends to use the proceeds from the financing to accelerate clinical development of its immuno‑oncology pipeline and to expand into new U.S. offices in Cambridge, Massachusetts. The company is led by CEO Michel Detheux, Ph.D., and was founded out of the Ludwig Institute for Cancer Research and the de Duve Institute in 2011. iTeos Therapeutics develops immuno-oncology drugs, focused on targeting the A2A adenosine receptor, immune checkpoints and non-immunogenic (“cold”) tumors. Its lead candidate is a proprietary A2A antagonist, and the company has a portfolio of additional immuno-oncology programs. iTeos has licensed its IDO1 program, which is in Phase 1 development, to Pfizer. The company uses a platform to identify rational combinations of immunotherapies and novel targets and emphasizes translational tumor immunology and early clinical-trial design. iTeos is based in Gosselies, Belgium and is a spin-off from Ludwig Cancer Research and the de Duve Institute (UCL). The company is supported in part by the Walloon Region and the FEDER. The recent funding will support clinical development activities and advance the launch of a clinical trial.

Participated · Equity · Jan 2019

Gynesonics develops minimally invasive, incision-free, uterus-preserving transcervical technologies for diagnostic and therapeutic applications, with a focus on treating symptomatic uterine fibroids. Its flagship product, the FDA-cleared Sonata System®, provides diagnostic intrauterine imaging and transcervical fibroid treatment and is CE-marked and approved for sale in the EU, UK, Switzerland, and the US. Sonata enables fibroid removal in roughly a 45-minute outpatient procedure, with most patients resuming regular activity the next day. The company is led by President and CEO Skip Baldino. Gynesonics intends to use the new funds to expand operations and broaden its business reach. Financially, the company has raised a total of $67.2M to date following the latest financing activity. Gynesonics develops minimally invasive, incision‑free, uterus‑preserving transcervical technologies; its flagship product is the Sonata System for diagnostic intrauterine imaging and transcervical treatment of symptomatic uterine fibroids. The Sonata System is FDA cleared, CE marked, and approved for sale in the United States, the European Union, and the United Kingdom. The company positions Sonata as a minimally invasive, incisionless alternative with proven clinical outcomes while noting common side effects and potential treatment risks. In early March Gynesonics appointed industry veteran Skip Baldino as President and CEO; he will also serve on the board, succeeding Christopher Owens. Gynesonics closed a $25M financing to help drive growth, accelerate adoption, and expand worldwide commercialization of the Sonata System. The company says its prior pivotal clinical trial, regulatory clearances, and initial product launch established a foundation of adoption and revenue growth to build on. Gynesonics develops minimally invasive, incision-free, uterus-preserving transcervical technologies for diagnostic and therapeutic applications in women’s health. Its core product, the Sonata System, combines real-time intrauterine ultrasound guidance with targeted radiofrequency ablation (RFA) to offer an incision-free, outpatient procedure for treating multiple uterine fibroid types. The company has secured FDA clearance for the Sonata System. The Sonata System is also CE marked and approved for sale in the European Union and the United States. Gynesonics is led by President and CEO Chris Owens. Financially, the company received a $50M senior secured term loan from Runway Growth Capital. Gynesonics develops minimally invasive, transcervical, uterus-preserving technologies, principally the Sonata System. The Sonata System combines the first intrauterine ultrasound with a proprietary radiofrequency ablation device to provide a transcervical, incision-free treatment for symptomatic uterine fibroids. Sonata enables targeting and optimizing ablations via the SMART Guide and is designed to access a wide range of fibroid types many current hysteroscopy methods cannot treat. The system has CE Mark approval for the European Union and received U.S. FDA 510(k) clearance in August. Gynesonics will use financing proceeds to launch global commercialization, further develop the Sonata technology platform, and fund additional clinical research to support reimbursement and market development. The company is headquartered in Redwood City, California and projects a $3 billion–$4 billion global market opportunity for Sonata, including more than $1 billion in the U.S. Gynesonics develops the Sonata™ System, a minimally invasive, incision‑free device that uses radiofrequency energy under intrauterine sonography guidance to ablate uterine fibroids. The Sonata system includes the SMART Targeting Guide and provides transcervical, uterus‑preserving access designed to avoid the peritoneal cavity. Sonata is CE marked and approved for sale in the European Union but is not available for sale in the United States; the company announced FDA approval of the SONATA IDE pivotal trial in October 2014. Gynesonics is privately held and headquartered in Redwood City, California. The company will use the financing to fund its strategic clinical plan, including current and future U.S. and global trials, as well as programs in operations, R&D, market adoption, and global regulatory and reimbursement efforts. The announcement cites the large, underserved market for symptomatic fibroids and the potential to reduce invasive procedures such as hysterectomy.

Participated · Series C · Dec 2017

HOOKIPA Pharma is a biotechnology company headquartered in Vienna, Austria, focused on developing active immunotherapies for infectious diseases and oncology. The company’s core work centers on therapeutic vaccines and immune-based approaches to prevent and treat disease. Recent disclosed financing shows strategic interest from a major pharma: Gilead Sciences purchased 15,000,000 shares of HOOKIPA common stock. The purchase price was $1.4167 per share, for a total of approximately $21.25 million. The transaction was described as a strategic investment in HOOKIPA. No operating metrics (revenue or user figures) were disclosed in the article. HOOKIPA Pharma is a clinical-stage biopharmaceutical company developing a new class of immunotherapeutics based on a proprietary arenavirus platform. Its platform includes VaxWave (a replication-deficient viral vector) and TheraT (a replication-attenuated viral vector) designed to induce robust antigen-specific CD8+ T cells and pathogen-neutralizing antibodies and to allow repeat administration. The company's lead programs include HB-101, a prophylactic cytomegalovirus vaccine that completed Phase 1 and is in a Phase 2 trial in CMV-negative patients awaiting kidney transplantation, and HB-201 and HB-202, oncology candidates for HPV-positive cancers. HOOKIPA has entered a collaboration and licensing agreement with Gilead Sciences to jointly research and develop functional cures for HIV and Hepatitis B. The company plans to apply its arenavirus platform to develop additional novel immuno-oncology product candidates and to expand its infectious disease portfolio. HOOKIPA recently completed a $37.4 million Series D financing to support advancement of its clinical development programs. Hookipa Biotech is a clinical-stage company developing next-generation immunotherapies using proprietary arenavirus vector platforms TheraT® and Vaxwave®. Vaxwave® is a replication-defective LCMV-based vector designed to infect dendritic cells and elicit potent, long-lasting immune responses; HB-101, the Vaxwave®-based CMV vaccine, completed a phase 1 trial showing safety and immunogenicity. TheraT® is an attenuated replicating arenavirus platform engineered to elicit strong antigen-specific CD8+ cytotoxic T cell responses and has shown robust tumor control in preclinical models. The company is advancing a phase 2 study of its prophylactic CMV vaccine in solid organ transplant patients and a phase 1 TheraT® active immunization trial in head & neck squamous cell carcinoma. Proceeds from the recent financing will be used to progress those proof-of-concept clinical trials and to expand the platform into additional disease areas such as prostate cancer. Hookipa Biotech AG develops a novel class of prophylactic and therapeutic vaccines based on its proprietary Vaxwave® viral vector platform. The Vaxwave® technology is a replication-defective viral vector designed to stimulate both potent B-cell (antibody) and CD8+ T-cell immune responses and can be administered repeatedly. The company’s lead product candidate, HB101, is a vaccine against cytomegalovirus (CMV) currently in advanced pre-clinical development and testing. Hookipa plans to use new funding to progress HB101 into Phase I clinical testing and to further industrialize the Vaxwave® technology for partnering and pipeline building. The platform is also being explored for cancer immunotherapy because Vaxwave® vectors are not inhibited by anti-vector immunity and can repeatedly stimulate CD8+ T cell responses against tumor targets. Financially, Hookipa has raised a total of €27 million in equity to date, including the newly announced Series B. Hookipa Biotech is an Austrian biotech startup founded in July 2011 focused on developing next-generation genetic vaccines. The company has developed a proprietary VaxwaveTM technology platform dedicated to genetic vaccines for prophylactic and therapeutic treatment of viral diseases. Its lead product is HB101, which Hookipa plans to advance through preclinical development and a Phase I proof-of-concept study. The company intends to use recently raised funds to further industrialize and validate the VaxwaveTM technology and to advance HB101. Hookipa is led by CEO Dr. Katherine Cohen, formerly Senior Vice President for Corporate & Business Development at Intercell AG.