Participated · Convertible Note · Jul 2021

ProciseDx develops rapid in vitro diagnostic tests and an instrument that delivers results from a finger‑prick blood sample or stool sample in 2–5 minutes. The company has obtained CE Mark for its instrument and four gastroenterology assays launched in Q3 2020 and has established distribution relationships in more than 15 countries across EMEA. Over 100 instruments have been shipped to EMEA, and the company expects continued market expansion through 2021. ProciseDx has submitted a 510(k) application to the FDA for its instrument and its Procise CRP assay, with further assay submissions expected in 2021. Management is led by CEO and CSO Dr. Larry Mimms and President and CFO Peter Westlake. The company expects revenues of $2–3 million for 2021. ProciseDx develops and commercializes a point-of-care (POC) diagnostic platform with tests that use finger‑prick blood or stool samples. Its initial test menu targets gastroenterologists with inflammatory and drug‑monitoring assays. The company plans to use the Series A proceeds to continue development and commercialization of its POC platform and tests. Led by CEO and CSO Larry Mimms, ProciseDx operates from a 30,000 sq. ft. laboratory, manufacturing and office facility and employs 25 people. The company is ISO13485 certified. Nestlé Health Science remains an active supporter and significant minority shareholder.

Participated · Series E · Jun 2020

Enterome is a clinical-stage company developing first-in-class OncoMimics immunotherapies, led by lead candidate EO2463. EO2463 is an off-the-shelf immunotherapy combining four synthetic OncoMimics peptides that mimic B‑cell markers (CD20, CD22, CD37 and CD268/BAFF receptor) plus a helper peptide (UCP2) to target malignant B lymphocytes. The approach aims to provide broad target coverage to improve safety and maximize efficacy while reducing antigen-escape driven resistance. Enterome is expanding and finalizing its Phase 1/2 SIDNEY clinical trial and preparing EO2463 for a registrational program, including a planned pivotal Phase 3 for the “watch-and-wait” iNHL population. The company has held positive interactions with regulators (FDA Type C meeting and EMA Scientific Advice) that outline a clear path to marketing authorization in watch-and-wait iNHL. New and prior clinical data (including ASCO 2024 and upcoming ICML presentation) support EO2463’s activity as monotherapy and in combination and suggest biomarker-driven identification of likely responders. Enterome leverages its understanding of the gut microbiome–immune interaction to discover and develop small molecules, proteins and peptide therapeutics for cancer, autoimmune, inflammatory and metabolic diseases. Its pipeline includes cancer immunotherapies (EO2401, EO2463), EndoMimics biologics (EM101) for inflammatory diseases, and EB8018 (sibofimloc/TAK-018), an oral FimH blocker advancing in Crohn’s disease trials. EO2401 was expected to enter Phase 1/2 trials in glioblastoma and adrenal malignancies in mid-2020, while EO2463 is being prepared as a clinical candidate for B‑cell malignancies. EB8018 is partnered globally with Takeda, with Enterome retaining a significant profit share in the US. The company has operations in Paris and Boston and is led by CEO Pierre Belichard. Enterome recently closed a €46.3M financing and drew the first tranche from a previously agreed European Investment Bank loan facility to support clinical development. Enterome is a clinical-stage biotech pioneering microbiome-derived pharmaceuticals and diagnostics targeting inflammatory bowel diseases and cancer. Its lead programs are EB8018, an oral gut‑restricted FimH blocker for Crohn’s disease, and EO2315, an immuno‑oncology candidate derived from bacterial antigens. EB8018 completed a Phase 1 trial in 2017 showing safety and minimal blood absorption and is advancing to Phase 2; EO2315 has produced strong immune responses and tumor cell‑killing ex vivo and controlled tumor growth in vivo and is entering a Phase 1b study in glioblastoma. The company is also developing the next generation of its proprietary metagenomics drug discovery platform to expand therapeutic target discovery. Enterome has established partnerships with pharmaceutical companies (including Johnson & Johnson/Janssen, Takeda, Abbvie and Bristol‑Myers Squibb) and a 50/50 joint venture with Nestlé Health Science for microbiome diagnostics. The company was founded in 2012 in Paris. Enterome Bioscience SA, based in Paris and Boston, pioneers pharmaceuticals and diagnostics derived from the gut microbiome. Its lead therapeutic candidate is EB 8018, a novel small-molecule FimH antagonist licensed from Vertex that targets Adherent Invasive Escherichia coli (AIEC) proliferation. EB 8018 is being developed as a potential treatment for inflammatory bowel diseases and acts by preventing AIEC adhesion to the gut wall to help restore a dysbiotic microbiome. The company also develops microbiome-based diagnostics for IBD and other microbiome-related diseases and seeks partnerships with diagnostic and pharmaceutical companies. Enterome intends to advance therapeutic programs in immuno-oncology alongside its diagnostics and gut-focused therapies. The company will use the recent financing to support moving EB 8018 into first clinical studies in 2016. Enterome Bioscience develops disease management solutions and diagnostic products grounded in gut microbiome science. The company is building diagnostic tools to support patient stratification, personalized therapies and the clinical development of new drugs. Target indications include microbiome-related diseases such as inflammatory bowel diseases and metabolic diseases like diabetes and obesity. Enterome intends to use newly raised funds for R&D and business development activities. Founded in 2012 and led by CEO Pierre Belichard, the company is based in Paris, France. To date it has raised a total of €17.5m.

Led · Equity · Nov 2018

Aimmune Therapeutics is developing a peanut allergy drug. An NDA filing for the drug looms. Rivalry around the program has intensified. Nestlé Health Science increased its investment by $98 million, bringing its stake to $276 million. The article frames the move as Nestlé upping its bet as regulatory and competitive pressures mount. No operating metrics were provided in the article. Aimmune is a Brisbane, California–based biotech focused on food allergy research and development. The company is publicly traded under the ticker $AIMT. Nestlé Health Science invested $145 million to support Aimmune’s food allergy R&D work. The article describes Nestlé as taking the head seat at the deal table, indicating it led the transaction. The piece refers to Aimmune as an emerging biotech company. No additional operating metrics, product details, or other investors were disclosed in the article. Allergen Research Corporation develops characterized oral desensitization immunotherapy (CODIT™) products for food allergies, combining standardized, pharmaceutical‑grade food allergens with controlled up‑dosing protocols. Its lead product, AR 101, is a standardized peanut protein formulation that completed a successful multicenter, randomized, double‑blind, placebo‑controlled Phase 2 trial and has received FDA Fast Track designation. The company plans to advance AR 101 into a planned Phase 3 clinical trial and will use recent financing to fund that pivotal study. ARC also intends to begin clinical development of CODIT products for egg and milk allergies in the coming year. Founded in 2011 and based in San Mateo, California, ARC aims to commercialize standardized OIT approaches to increase patients' allergic thresholds and reduce the risk from accidental exposure. The company previously completed a $17 million Series A in November 2013. Allergen Research Corporation (ARC) is developing desensitization treatment protocols and clinical products for food allergies, building on more than a decade of oral immunotherapy research by academic and nonprofit collaborators. Its lead product is a pharmaceutical‑grade formulated peanut protein now in Phase 2b development for oral immunotherapy (OIT) using characterized peanut allergen (CPNA). ARC plans to begin a Phase 2b trial in the fourth quarter of 2013 to evaluate peanut OIT with CPNA, and the recent financing will support that trial and related development projects. The company’s broader mission is to develop OIT products for the foods that account for the majority of reactions: peanut, milk, eggs, wheat, soy, shellfish, fish and tree nuts. ARC was founded in 2011 and aims to establish standardized allergen desensitization treatment protocols and supply treatment products for clinical use. The company recently completed a Series A financing to fund its near-term clinical program.

Led · Equity · Feb 2016

Pronutria Biosciences develops first-in-class medicines that use disease-specific amino acid compositions to restore cellular homeostasis and regenerate function. The company designs oral biologics derived from the food proteome and applies a systems pharmacology approach to select therapeutic amino-acid combinations. Its proprietary platform evaluates over one billion potential candidates and has advanced clinical-stage medicines in muscle, neurodegenerative and liver conditions. Pronutria is developing both therapeutics and nutritional supplements and says its platform can address patients across more than 2,000 diseases where amino acids play a central role. The company plans to expand existing muscle, neurological and liver disease programs as it advances lead candidates toward the clinic. Pronutria is based in Cambridge, MA and was founded within VentureLabs at Flagship Ventures. Pronutria is pioneering a novel class of amino acid–based products—termed amino acid biologics—targeting biology previously inaccessible with precise modulation of amino acid pathways. The company is clinical-stage and says it has amassed promising preclinical and clinical data across a pipeline of candidates. Its R&D programs span nutritional and therapeutic areas including muscle, metabolic, neurological and liver disorders, plus inborn errors of metabolism. Management states the technology leverages advanced knowledge of amino acid imbalances to address conditions with few or no current options. Pronutria was founded by Flagship VentureLabs and is based in Cambridge, MA. The company recently completed a $39 million Series C financing, strengthening its financial position to aggressively advance multiple programs.

Led · Series D · Jan 2015

Seres Health is a microbiome therapeutics platform company developing Ecobiotic® biological drugs designed to treat diseases by restoring a dysbiotic microbiome. Its lead product candidate, SER-109, is being developed to prevent recurrence of Clostridium difficile infection. The company intends to advance SER-109 into Phase 3 clinical trials using the new funding. Seres also plans to progress a pipeline of therapeutics targeting other diseases of the human microbiome. Current product candidates span infectious, metabolic, and inflammatory diseases. The company is led by Dr. Roger J. Pomerantz, President, CEO and Chairman. Seres Health is a clinical-stage microbiome therapeutics platform developing Ecobiotic® biological drugs designed to restore the function of dysbiotic microbiomes. Its lead product candidate is SER-109, aimed at preventing recurrence of Clostridium difficile infection, and its pipeline spans infectious, metabolic, and inflammatory diseases. The company plans to advance SER-109 into Phase 3 clinical trials using proceeds from its recent financing. Seres closed a $48M Series C and has received over $65M in funding to date. Founded in 2012 with initial funding from Flagship Ventures and led by Dr. Roger J. Pomerantz, the company is based in Cambridge, Mass. It recently announced a research alliance with Mayo Clinic to support its development programs. Seres Health is a clinical-stage therapeutics company developing Ecobiotic® products that target the human microbiome to treat infectious, metabolic, and inflammatory diseases. Its lead candidate, SER-109, is in clinical testing for the treatment of recurrent C. difficile. The company intends to use the Series B proceeds to advance its pipeline of therapeutics. Seres has entered into an exclusive research collaboration with the Mayo Clinic to define diseases amenable to microbiome-based interventions and to aid discovery and development. Launched in 2012 by Dr. Roger J. Pomerantz and founded by Flagship VentureLabs, the company is advancing multiple candidates across disease areas. Seres Health is a clinical-stage therapeutics company focused on developing products derived from human microbiome science. Led by CEO and co‑founder Dr. David Berry, the company emerged from two years in stealth and launched publicly with Series A funding. Its research originates from work by Flagship VentureLabs, which began developing the underlying technology platforms in 2010 after a three‑year exploration into microbiome biology. Seres is developing candidates to treat infectious, metabolic, and inflammatory diseases. Its lead candidate, SER-109, is undergoing clinical testing to treat C. difficile infection, a major cause of antibiotic-associated diarrhea. The company’s current financing position was established with a $10.5M Series A.