Participated · Series A · Feb 2021

Orna Therapeutics was created in 2019 by MPM and BioImpact Capital based on MIT research and is developing circular RNA (oRNA) platforms for vaccines and therapeutics. Its circular RNA approach is designed to offer greater stability than linear mRNA and to produce larger quantities of therapeutic protein in vivo. Orna also develops proprietary lipid nanoparticles and has a joint venture with ReNAgade Therapeutics for RNA delivery. The company’s pipeline targets infectious diseases, oncology, and other illnesses, and the collaboration announced covers multiple programs across vaccines and cancer. Orna plans to accelerate development through a landmark collaboration and expects to derive royalties on approved products. Financially, Orna announced a $221 million Series B at a valuation above $1.5 billion and will receive $150 million upfront under the collaboration plus up to $3.5 billion in development, regulatory, and sales milestones. Orna Therapeutics is dedicated to designing and delivering a new class of fully engineered circular RNA (oRNA) therapeutics. Its proprietary platform combines molecular design and delivery technologies to create oRNAs that drive protein expression. The company aims to treat a wide range of diseases including cancer, autoimmune, and genetic disorders. Orna was founded on research from MIT and was seeded and incubated by MPM Capital; founders include Robert Alex Wesselhoeft, Raffaella Squilloni, and Professor Dan Anderson. Thomas M. Barnes, Ph.D., serves as CEO and the company is supported by an experienced board of directors and scientific advisors. Orna completed an $80M Series A financing to advance its oRNA platform.

Participated · Series B · Apr 2020

Cadent Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies to improve cognitive, mood, and movement disorders. Its lead asset, CAD-9303, is a novel, first-in-class positive allosteric modulator (PAM) of NMDA receptors being evaluated for cognitive deficits and negative symptoms of schizophrenia in the multicenter Affinity-1 randomized, placebo-controlled trial. The company plans to use the Series B proceeds to advance CAD-9303 and has continued patient enrollment during the COVID-19 pandemic. Cadent has paused initiation of its planned CAD-1883 trial in spinocerebellar ataxia to prioritize resources for CAD-9303. The company also holds an exclusive license and collaboration with Novartis to develop a negative allosteric modulator now in Phase 2 for treatment-resistant depression. Management states the financing provides cash runway into the second quarter of 2021. Cadent Therapeutics is developing breakthrough therapies for movement and cognitive disorders using novel allosteric modulators of ion channels to improve neuronal firing regularity. Its lead program, CAD-1883, an SK (small conductance calcium-sensitive potassium channel) positive allosteric modulator, is in a Phase 1 dose escalation trial for essential tremor and spinocerebellar ataxia and has been well-tolerated to date. A second program is in preclinical development to positively modulate NMDAr to address hypofunction in schizophrenia and has shown restoration of auditory novelty detection in preclinical models. Cadent also has an exclusive license and collaboration with Novartis to develop an NMDA receptor modulator — described as a negative allosteric modulator now in Phase 1 for treatment-resistant depression. The company recently appointed Bob Dagher, M.D., as Chief Medical Officer and has expanded its board with representatives from investor groups. Cadent raised a $40 million Series B to advance its pipeline and continue clinical development. Mnemosyne Pharmaceuticals is an emerging biotech based in Providence, RI, focused on discovery and development of small-molecule SNRMs targeting the NMDA receptor for neuropsychiatric indications. The company’s two lead programs target schizophrenia and Rett Syndrome, and it is exploring additional indications including depression with hopes to partner those programs. Mnemosyne says its SNRMs aim to potentiate a specific NMDA subunit to improve cognition and address positive and negative symptoms of schizophrenia. Proceeds from the recent financing will support the company’s drug discovery efforts and advancement of the lead programs. The company is led by president and CEO Kollol Pal, Ph.D., and emphasizes the NMDA receptor’s role in learning and memory within the broader $80B mental health market. Mnemosyne Pharmaceuticals is a Providence, Rhode Island–based biotechnology company focused on the discovery and development of small molecule drugs to treat neuropsychiatric disorders. Its discovery efforts target the NMDA receptor, which the company describes as a master switch for learning and memory. The firm's lead program targets schizophrenia, and it is exploring additional indications including Alzheimer’s disease, recovery from stroke and traumatic brain injury, and attention deficit/hyperactivity disorder. Mnemosyne intends to use new capital to advance its drug discovery programs and identify lead product candidates. The company was founded in 2010 and is led by president and CEO Kollol Pal, Ph.D. Mnemosyne Pharmaceuticals is a Providence-based biotech developing a new class of drugs, Subunit Selective NMDA Receptor Modulators (SNRMs), targeting the $60B neuropsychiatry market. The company is building a capital-efficient research platform and plans to rely on collaborative partnerships with service providers to support drug discovery and development. It also intends to form strategic partnerships with pharmaceutical and biotech companies to provide research support and opportunities for later-stage clinical development and commercialization. Mnemosyne was launched with seed funding from the state-backed Slater Technology Fund and recently landed a $250,000 investment from that same fund. The founders are pharmaceutical and biotech industry scientists and executives with over 70 years of combined experience, and the company is supported by scientific advisors who are thought leaders in neuropsychiatry.

Participated · Series B · Jan 2020

TScan Therapeutics discovers and develops TCR‑T cell therapies targeting shared, clinically‑derived antigens using a proprietary high‑throughput platform that also assesses off‑target TCR interactions. The company is advancing both hematologic and solid tumor programs, with lead liquid tumor programs TSC‑100 and TSC‑101 expected to enter clinical development in 2021. TScan plans to progress its first two TCR‑T assets into the clinic in 2021 and advance three additional programs into the clinic in 2022. For solid tumors it is advancing a multi‑TCR program and intends to nominate an initial set of three target candidates in 2021 with IND submissions to follow in 2022. The company has a strategic discovery partnership with Novartis from 2020 and is exploring use of its target discovery technology for infectious and autoimmune diseases. Prior to this financing the company had raised over $180 million to date; proceeds from the announced round will be used to advance the pipeline into the clinic. TScan designs therapies that reprogram a patient's own T cells to recognize and fight cancer using naturally occurring T-cell receptors (TCRs). Its technology scans TCRs against target antigens in a genome-wide, high-throughput, and unbiased fashion. The company has discovered novel antigens from TCRs, novel TCRs from known antigens, and previously uncharacterized off-targets of known TCRs. TScan is developing a portfolio of TCR therapies for patients with both liquid and solid tumors. With completion of the Series B, TScan has raised approximately $60 million in funding and says it is well positioned to discover novel tumor-reactive TCR targets and to develop TCR–target pairs across indications. The company states these resources will support its oncology development efforts.

Participated · Series A · Feb 2019

Vor Biopharma pioneers engineered hematopoietic stem cells (eHSCs) that remove biologically redundant proteins so transplanted stem cells become invulnerable to complementary targeted therapies while tumor cells remain susceptible. Its lead candidate, VOR33, lacks CD33 and is intended to improve the therapeutic window and effectiveness of CD33-targeted therapies for acute myeloid leukemia. The company plans to use the financing to advance VOR33 into first-in-human clinical trials, deepen its portfolio, and accelerate validation of additional targets for its platform. Vor’s approach aims to change the treatment paradigm for both hematopoietic stem cell transplants and targeted therapies such as ADCs, bispecifics, and CAR-Ts. A proof-of-concept preclinical study for the lead program has been published in Proceedings of the National Academy of Sciences. Vor is based in Cambridge, Mass., and holds a broad IP base including in-licenses from Columbia University; Siddhartha Mukherjee serves as Vor’s Scientific Board Chair. Vor Biopharma's core product approach uses an engineered hematopoietic stem cell (HSC) technology platform to enable targeted immunotherapies for hematologic malignancies. The company is advancing a lead HSC-based candidate for the treatment of acute myeloid leukemia (AML) toward the clinic. Vor says its platform can expand the reach of targeted immunotherapies, enable new dosing paradigms, and improve the therapeutic window and patient safety. Proceeds from the recent financing will be used to advance the lead candidate and to further build the company’s pipeline against hematologic cancers. Vor was co-founded by PureTech Health and Siddhartha Mukherjee and collaborates with leading scientists and institutions in stem cell and immunology research. The company is publicly reported from Boston.

Participated · Series B · Jun 2016

Blade Therapeutics develops novel therapies aimed at modifying the pathobiology and halting progression of fibrotic diseases. The company exploits novel target biology based on research from the laboratory of Harry (Hal) Dietz at Johns Hopkins University. Blade is led by CEO Wendye Robbins, M.D. The company intends to use the new funding to advance selection and development of lead molecules. In conjunction with the financing, representatives from investors joined Blade’s board to support development efforts. The company is headquartered in South San Francisco, CA.