The Venture Codex

Participated · Series C · Oct 2019

AZTherapies is an advanced clinical-stage biopharmaceutical company developing novel small molecules and biologic therapies intended to change neurodegenerative disease progression. Its lead candidate, ALZT-OP1, employs a multi-modal approach that targets neuroinflammation; the Phase 3 COGNITE trial in early Alzheimer’s disease is fully enrolled. The company expected trial completion in late 2020 with results anticipated in the first quarter of 2021. After the lead program, AZTherapies is advancing candidates for ALS and post-ischemic stroke cognitive impairment and is pursuing an innovative CAR-Treg program with potential broad application across neurodegenerative diseases. On the financing side, the company recently closed a $33.6M Series C-1 financing and earlier this year received $11.2M from a Series C Preferred Stock financing that raised aggregate gross proceeds of $37.5M. The company is led by Chairman and CEO David R. Elmaleh, Ph.D. AZTherapies' lead candidate is ALZT-OP1, a multi-modal therapy built on targeting neuroinflammation and microglia to slow or stop neurodegeneration. The company has a fully enrolled pivotal Phase 3 trial, COGNITE, being conducted under a Special Protocol Assessment with the U.S. FDA. Proceeds from the recent financing are intended to fund completion of COGNITE and ALZT-OP1 pre-commercial efforts. AZTherapies is also advancing a broader pipeline, including AZT-101, which the company plans to move into a Phase 2 trial for post-ischemic stroke cognitive impairment and a Phase 1/2a trial in ALS. The company is privately held and headquartered in Boston, Massachusetts. Management highlighted the financing will support completing the Phase 3 trial by the end of 2020 and continued pipeline advancement.

Participated · Equity · Aug 2017

AgeX Therapeutics, a subsidiary of BioTime based in Alameda, Calif., focuses on developing therapeutics that target fundamental mechanisms of human aging, including telomerase-mediated cell immortality and regenerative biology. Its pipeline includes preclinical cell-based therapies AGEX-BAT1 and AGEX-VASC1, the drug candidate AGEX-iTR1547 derived from its induced Tissue Regeneration (iTR) technology, and Renelon™, a first-generation iTR product planned for topical development via a 510(k) pathway. The company also markets genomic interpretation algorithms through its LifeMap subsidiary and PSC-derived heart muscle cells for drug screening through its ESI BIO division. AgeX plans to continue advancing its preclinical programs and pursue commercial development paths for its iTR products. Financially, AgeX recently closed a $5.0 million equity financing and reports additional recent financing sources that management says provide sufficient capital into 2020. AgeX Therapeutics is a biotechnology subsidiary of BioTime focused on applying cell immortality and regenerative biology to treat aging and age‑related diseases. Formed in early 2017 and based in Alameda, Calif., AgeX's initial product programs include pluripotent stem cell‑derived brown adipocytes (AGEX‑BAT1), vascular progenitors (AGEX‑VASC1), and induced Tissue Regeneration (iTR). Planned indications for those programs are type II diabetes, cardiac ischemia, and cancer. The company raised $10 million in equity financing to fund preclinical development and to build its operational infrastructure, and BioTime remains the majority owner with about 87% of AgeX's outstanding shares. BioTime has licensed or assigned certain assets to AgeX and assigned ownership of private subsidiaries LifeMap Sciences, Ascendance Biotechnology, and ReCyte Therapeutics to AgeX while retaining core ophthalmology, orthopedics, medical aesthetics, and drug delivery assets. Management includes Michael D. West, Ph.D., who will serve as AgeX's CEO; the company may register and distribute a portion of its shares to BioTime shareholders, potentially enabling AgeX to trade publicly.