The Venture Codex

Participated · Series A · Nov 2025

Onchilles Pharma is pioneering a new class of cancer drugs that exploit the ELANE pathway, a vulnerability tied to elevated histone H1 levels in many tumors. Its lead asset, N17350 (NEU-001), is a tumor-directed biologic shown in preclinical studies to induce rapid, selective tumor cell death and CD8+ T-cell activation across 30 cancer cell lines and 15 in-vivo models, including chemotherapy-resistant and immunologically “cold” tumors. The company has completed GMP manufacturing of more than 5,000 doses and plans to start first-in-human studies in Australia in early 2025, with U.S. enrollment expected mid-2026, aiming for clinical proof-of-concept in the second half of 2026. A second program, NEU-002, a systemic version of the therapy, is on track for development-candidate nomination in early 2026. The firm positions its ELANE-based drugs as next-generation cytotoxics that combine potent tumor killing with immune preservation and activation, potentially addressing a broad range of solid tumors. To date, Onchilles has raised $40 million in Series A financing, including the latest $25 million Series A1 tranche to fund clinical development of N17350.

Participated · Series A · Apr 2025

Grove Biopharma pioneers a proprietary Bionic Biologics platform that integrates precision polymer chemistry, medicinal and peptide chemistry, AI/ML‑driven computational chemistry, and protein engineering to design fully synthetic, cell‑penetrant molecules. The platform is intended to engage large intracellular targets and disrupt or degrade protein‑protein interactions that traditional modalities cannot reach. Grove’s pipeline initially focuses on oncology and neurodegenerative diseases, leveraging cell permeability to access intracellular disease pathways. The company’s lead effort targets androgen receptor signaling for castrate‑resistant prostate cancer and has shown in vivo proof‑of‑concept while advancing toward an IND submission. Grove originated as a spinout from Northwestern University and is based in Chicago, embedded in the city’s emerging life‑sciences ecosystem. Proceeds from the recent financing will be used to further develop the platform and drive lead oncology programs toward the clinic. Grove Biopharm is a Northwestern University and UC San Diego spinout developing a novel class of 'protein-like polymers' to make drugs targeting Parkinson's, Alzheimer's, multiple sclerosis and other difficult-to-treat conditions. The company raised $4 million in a seed round led by Portal Innovations. Other investors in the round include Morningstar founder Joe Mansueto, Michael Polsky's family office Skydeck Capital, and Walder Ventures. As part of the investment, Portal's John Flavin will join Grove Biopharma’s board. Grove was co-founded by Nathan Giannesch, CEO Geoff Duyk, and president and COO Paul Bertin. Portal Innovations is based in Fulton Labs in Chicago's Fulton Market, and Grove joins a growing Chicago biotech cluster that includes Jaguar Gene Therapy, Evozyne and CiRC Biosciences. Flavin called the platform a "revolutionary innovation" at the interface of materials engineering, biology, chemistry, and data science.

Participated · Series A · Jan 2025

Hinge Bio is a development-stage biotechnology company led by CEO Barry Selick, Ph.D., that leverages its proprietary GEM-DIMER™ platform to design multivalent, multispecific antibody-based therapeutics. The GEM-DIMER technology enables creation of antibody therapeutics that bind targets cooperatively to enhance biological activity and functionality. The company is advancing a lead product candidate, HB2198, intended for patients living with Systemic Lupus Erythematosus (Lupus). Hinge Bio plans to use new funding to support entry of HB2198 into a Phase 1 clinical trial and to develop additional therapeutics from the GEM-DIMER platform. The company is based in Burlingame, CA. The article describes Hinge Bio as development-stage and does not disclose operating metrics beyond the financing.

Led · Series C · Nov 2023

Alto Neuroscience is a Mountain View, CA–based clinical-stage biopharmaceutical company focused on precision psychiatry therapies that pair digital biomarkers with novel CNS drugs. Its lead candidate, ALTO-207—a fixed-dose combination of pramipexole and ondansetron—hit primary and secondary endpoints in a 32-patient Phase 2a study for treatment-resistant depression and is slated to enter Phase 2b by mid-2026 and Phase 3 in early 2027. The firm also advances ALTO-101, which recently secured FDA Fast Track status for cognitive impairment associated with schizophrenia. Alto’s platform employs electroencephalography and cognitive testing to tailor treatments to individual patients. The company carries a market capitalization of about $164.6 million and reports a strong liquidity profile, with a current ratio of 18.43 and more cash than debt, though it is experiencing rapid cash burn. The newly raised capital should extend its runway and fund upcoming clinical milestones.

Led · Series C · Sep 2023

Virtual Incision is developing MIRA, a compact, drape- and dock-free miniaturized robotic-assisted surgery system designed to deliver internal triangulation and full wrist articulation inside the body. The device is lightweight and portable so it can be used in any operating room without a dedicated mainframe room. MIRA is an investigational device; the company completed an IDE clinical study for bowel resection and has a De Novo request under substantive FDA review. Virtual Incision holds over two hundred patents and patent applications and is focused on expanding access to RAS in routine and high-volume procedures, including outpatient and ambulatory settings. The company plans a limited launch of MIRA across select U.S. centers if marketing authorization is granted and will run a gynecologic clinical study planned for 2024. It is also developing a smaller minibot iteration with a first-in-human clinical study expected next year and will support a NASA–University of Nebraska–Lincoln collaboration to demonstrate telesurgery on the ISS. Virtual Incision is developing the MIRA (“miniaturized in vivo robotic assistant”) Surgical Platform, a small self-contained device inserted through a single midline umbilical incision to support multi-quadrant abdominal laparoscopic procedures. The technology is designed to work with existing minimally invasive tools and techniques, avoid the need for a dedicated operating room or specialized infrastructure, and to be significantly less expensive than existing robotic systems. The company recently reported the world’s first surgery using MIRA—a robotically assisted right hemicolectomy—performed under an FDA Investigational Device Exemption as part of a clinical study at a limited number of U.S. hospitals. Virtual Incision is developing a family of mini-robots for additional procedures including hernia repair, gallbladder removal, hysterectomy, and sleeve gastrectomy. The company holds foundational intellectual property with more than 200 patents and applications. Virtual Incision is headquartered in Lincoln, Neb., and recently raised financing to advance its regulatory, clinical, commercialization, and R&D programs. Virtual Incision develops the MIRA (“miniaturized in vivo robotic assistant”), a two-pound robotic platform for minimally invasive abdominal surgery. The company emphasizes MIRA’s portability and affordability compared with many existing, much larger surgical robots. VIC positions the device to expand access to minimally invasive procedures and improve patient outcomes. CEO John Murphy said the company believes the portable and affordable abdominal robot can bring these benefits to many more patients. The company plans an IDE clinical study with the FDA as the critical next step and will use recent funding to ready the device for commercialization. The latest financing brings the company’s total funding to $51 million. Virtual Incision is developing a small, self-contained robotically assisted surgical device (RASD) designed to be inserted through an umbilical incision to perform multi-quadrant abdominal procedures. The platform leverages artificial intelligence and machine learning to track and guide instrument usage and includes the company’s robotic flex tip laparoscope controlled by the surgeon. The company emphasizes compatibility with existing surgical tools and techniques and a design that does not require a dedicated operating room or specialized infrastructure. Virtual Incision says its technology has foundational intellectual property including over 140 patents and applications and was used outside the U.S. in 2016 in a safety and feasibility colon resection trial. The company is a University of Nebraska spinout based in Lincoln, Nebraska, and Pleasanton, California, and its devices are investigational and not commercially available. Virtual Incision recently raised an $18 million Series B to support development toward FDA 510(k) submission and near-term milestones including FDA clearance, U.S. team building, a surgeon training center at UNMC, and a China joint venture. Virtual Incision develops a first-of-its-kind miniaturized robotically assisted surgical device designed to be inserted in its entirety through a single abdominal incision to enable minimally invasive general surgery. The platform is designed to utilize existing tools and surgeon techniques, avoid dedicated operating-room infrastructure, and be significantly smaller and less expensive than current mainframe robotic systems. The company says the system could enable minimally invasive approaches to procedures that are typically performed open today, with potential to improve clinical outcomes and health-care costs. Its investigational device is supported by more than 90 pending and granted patents and 70 comparative medicine studies, and the technology is a spinout of the University of Nebraska. Virtual Incision plans to use the recently closed $11.2 million equity financing to fund a feasibility study of the robot for colon resection procedures. The device is not commercially available; the company is based in Lincoln, Neb. and Pleasanton, Calif.