Participated · Series A · Nov 2021

BAKX Therapeutics focuses on developing therapeutics that activate pro-apoptotic proteins (notably BAX/BAK) using structure-based and computational drug discovery to target the mitochondrial apoptosis pathway. Its lead asset, BKX-001, is partnered with Ipsen and is aimed at leukemia, lymphoma and solid tumors. The company is advancing a BAKX Activator Program toward the clinic in hematologic malignancies and solid tumors and plans to deploy its computational platform to drug other apoptosis targets implicated in solid tumors and resistance. BAKX was co-founded by apoptosis and computational drug discovery researchers Loren D. Walensky and Evripidis Gavathiotis. The new capital will support faster clinical advancement and broader application of the platform to additional targets and resistance prevention. Financially, BAKX closed a $25 million Series A and recently entered a partnership with Ipsen that includes up to $852 million in upfront and potential milestone payments related to BKX-001.

Participated · Series B · Mar 2020

Xilio Therapeutics engineers tumor-selective immunotherapies that are masked until activated in the tumor microenvironment to maximize efficacy and reduce systemic toxicity. Its lead candidates are XTX202 (tumor-selective IL-2) and XTX101 (tumor-selective anti-CTLA4 mAb). The company also has a cytokine program including tumor-selective IL-12, XTX301. XTX202 and XTX101 have shown significant anti-tumor effects with minimal peripheral effects in preclinical models. Xilio plans to advance its lead candidates into clinical trials and expects to file INDs for XTX202 and XTX101 with the FDA in 2021. Xilio was founded in 2016 and is headquartered in Waltham, Mass. Xilio Therapeutics (formerly Akrevia) is developing a proprietary platform to create ultra-potent, tumor‑selective immuno-oncology therapies that are activated selectively within the tumor microenvironment. Its lead programs are XTX201 (tumor-selective IL-2) and XTX101 (tumor-selective aCTLA4 monoclonal antibody), which have shown tumor-selective activity in preclinical models. The company intends to use the recent financing to complete IND-enabling studies and advance those candidates into Phase 1 clinical trials, and to progress additional tumor-selective cytokine programs. Xilio positions its approach as a way to widen the therapeutic index of validated IO therapies by reducing peripheral toxicities that have limited patient dosing. The company rebranded from Akrevia to Xilio to reflect its evolution from research-focused to development-stage, and is led by CEO Rene Russo. Xilio was founded in 2016 and is headquartered in Waltham, Mass. Akrevia Therapeutics is a Cambridge, Mass.-based biopharmaceutical company focused on developing tumor-targeted immuno-oncology therapeutics. Its proprietary Aklusion® platform enables biologics to be specifically activated in the tumor microenvironment with precisely tailored properties. The company is applying the platform to build a broad pipeline of engineered antibodies, cytokines and chemokines as potential new options for patients living with cancer. Akrevia says the platform expands the universe of immune-activating proteins that can be safely delivered. Leadership includes Tim Clackson, Ph.D. (President and Head of R&D), Nessan Bermingham, Ph.D. (Executive Chairman), Ronan O’Hagan, Ph.D. (SVP of Discovery) and Margaret Karow, Ph.D. (SVP of Preclinical Development). The company closed a $30M Series A to accelerate development of its pipeline and Aklusion platform. Akriveia Therapeutics leverages a proprietary platform to create immunotherapeutic products that are specifically activated in the microenvironment of tumors. The company has entered into exclusive license agreements for key enabling technologies with City of Hope and Thomas Jefferson University. Led by CEO Simon Tomlinson, Akriveia aims to build a pipeline of single-agent and combination immunotherapeutics. The company plans to use new funding to expand its team and accelerate therapeutic discovery efforts. Akriveia was founded on the work of Professor John Williams at City of Hope and Professor Ulrich Rodeck at Thomas Jefferson University. The company is based in Thousand Oaks, California.

Participated · Series A · Jul 2019

Pyxis Oncology is building a differentiated portfolio of biologics, primarily antibody-drug conjugates (ADCs) and immuno-oncology therapies aimed at difficult-to-treat solid tumors and hematologic malignancies. The company employs site-specific conjugation technology to develop highly stable ADCs with improved therapeutic indexes and advances immunotherapies that target broad immune regulators and novel immune checkpoints via its immuno-oncology and cold tumor platforms. Its lead ADC candidates include PYX-201 and PYX-203, which were in-licensed from Pfizer, and PYX-202, in-licensed from LegoChem Biosciences. Pyxis plans to use new funding to advance these ADC and I/O programs toward Phase 1 clinical trials and to support its growing ADC toolkit and pipeline. The company was founded by Longwood Fund and is based in Cambridge, Mass. Following the Series B, Pyxis has raised $174 million in total funding to date. Pyxis Oncology is a newly formed immuno-oncology company built on research by Thomas Gajewski that is developing novel antibody therapies targeting the tumor microenvironment. The company has generated preclinical data on its targets and is developing a pipeline of novel antibodies intended to reach patient populations not served by current immunotherapies. Pyxis was founded by Thomas Gajewski, Longwood Fund, and John Flavin with support from the University of Chicago Polsky Center for Entrepreneurship and Innovation. Following its Series A, the company’s board will be chaired by John Flavin, with Leaps by Bayer represented by Dr. Lucio Iannone and Dr. Jak Knowles, and Dr. Vemuri of Agent Capital also joining. David Steinberg, Partner at Longwood Fund, will serve as Pyxis’s Chief Executive Officer. The company is based in Boston, MA.

Participated · Debt Financing · Feb 2017

Rhythm is developing peptide therapeutics focused on rare genetic deficiencies in the melanocortin-4 receptor (MC4R) pathway that lead to severe obesity and metabolic disorders. Its lead program is setmelanotide (RM-493), an MC4R agonist being developed to treat obesity caused by genetic defects in the MC4 pathway. The company completed a $41M mezzanine financing to fund clinical development. Rhythm plans to use proceeds to advance setmelanotide into Phase 3 registration studies for POMC and LEPR deficiency obesity and to expand Phase 2 trials for other genetic conditions. It intends to initiate Phase 2 proof-of-concept studies for Bardet-Biedl syndrome, Alström syndrome, and POMC heterozygous deficiency obesity during 2017. The company is led by President and Founder Bart Henderson and CEO Keith Gottesdiener. Rhythm is a Boston, Massachusetts-based biopharmaceutical company developing peptide therapeutics that address unmet needs in gastrointestinal diseases and obesity. Led by CEO Keith Gottesdiener, MD, the company is developing relamorelin (RM-131), a ghrelin peptide agonist for diabetic gastroparesis and other gastrointestinal functional disorders. Its subsidiary, Rhythm Metabolic, is developing setmelanotide (RM-493), an MC4R peptide agonist to treat obesity caused by genetic deficiencies in the MC4 pathway. Rhythm completed a $40M Series A financing to advance these programs. New investors in the round included OrbiMed, Deerfield Management, Wellington Management and an undisclosed public healthcare investment fund, joining existing backers MPM Capital, New Enterprise Associates, Third Rock Ventures, Pfizer Ventures and Ipsen. As part of the financing, Jonathan Silverstein of OrbiMed joined the Rhythm Metabolic Board of Directors. Rhythm is a Boston, MA-based biotechnology company led by co-founder and president Bart Henderson. The company develops small-peptide therapeutics, including the ghrelin peptide agonist RM-131 for diabetic gastroparesis and other GI functional disorders and the MC4R peptide agonist RM-493 for obesity and diabetes. Rhythm intends to use new capital to advance its peptide programs for metabolic diseases. The company closed an additional $8m in Series B financing, and Pfizer Venture Investments joined existing backers. Existing investors include MPM Capital, New Enterprise Associates, Third Rock Ventures and Ipsen. Rhythm previously raised €40m in a Series A in 2010. Rhythm develops small-peptide therapeutics targeting metabolic diseases, with programs focused on ghrelin and MC4R pathways. Its lead candidate, RM-131, is a ghrelin agonist currently in a Phase 2 trial for diabetic gastroparesis. A second program, RM-493, is an MC4R agonist in Phase 1 trials for obesity and diabetes. The company intends to use the new capital to continue advancing its peptide candidates through Phase 2 clinical development. Rhythm is led by Founder and President Bart Henderson, and the financing included a board change with Vaughn Kailian of MPM Capital joining Rhythm’s board. To date the company has raised $65 million. Rhythm is a Boston-based biotechnology company focused on developing peptide therapeutics for metabolic diseases. Its lead candidates are RM-131, a small-peptide ghrelin agonist for gastrointestinal functional disorders, and RM-493, a small-peptide melanocortin 4 receptor (MC4R) agonist for obesity and diabetes. The company completed a $40M Series A financing after a $21M first close and a $19M second close. The new capital will be used to advance its lead drug candidates through clinical proof-of-concept studies. The Series A involved investors including New Enterprise Associates, MPM Capital and Third Rock Ventures. As part of the financing, Lou Tartaglia, PhD of Third Rock Ventures joined Rhythm’s board of directors.

Participated · Equity · Nov 2011

Radius Health develops BA058, a novel anabolic, bone-building compound for patients with osteoporosis. The company is advancing BA058-SC, an injectable form in a Phase 3 trial, and BA058-TD, a transdermal patch formulation in a Phase 2 trial. Led by President & CEO Michael S. Wyzga, Radius intends to use new capital to continue clinical development of its lead asset. The company completed a $43M equity financing to support these programs. Radius focuses its pipeline and resources on bringing BA058 through late-stage clinical development and into potential commercialization. Radius Health is developing BA058, a proprietary PTHrP analog being advanced as a treatment for osteoporosis. BA058 Injection is in a Phase 3 clinical study and the BA058 Microneedle Patch is in Phase 1; the company also has earlier-stage drug candidates. Radius is allocating recent financing primarily to advance the Phase 3 program and to generate data to support efficacy claims for U.S. and European marketing applications. The company closed multiple tranches of a $91 million financing announced in May 2011 and has debt capacity under a multidraw term loan facility. Recent financings included equity from existing investors and debt availability from GE Capital, Healthcare Financial Services and Oxford Finance LLC. Radius is located in Cambridge, Massachusetts. Radius Health is a Cambridge, MA-based company focused on the acquisition and development of a new generation of drug therapies for osteoporosis and women's health. Its lead candidate in clinical trials is designed to build new bone in patients with osteoporosis, with the goal of reducing fracture risk and improving patient outcomes. The company is conducting a pivotal Phase 3 human clinical trial for that osteoporosis drug. To support the trial and provide working capital, Radius secured a senior secured multi-draw term loan facility. GE Capital, Healthcare Financial Services acted as agent and closed a $6.25 million tranche of a $25 million facility. GE Capital described the financing as a customized solution intended to give Radius more flexibility as it advances the pivotal trial.