The Venture Codex

Participated · Series D · Sep 2021

InBrace develops the Smartwire, a behind‑the‑teeth orthodontic system that uses advanced computer modeling, AI and shape‑memory wire to straighten teeth discreetly while allowing normal eating, drinking and oral hygiene. The Smartwire is placed behind the teeth so patients can live their lives and share their improving smile without others knowing they are in treatment. The company was invented and founded by Drs. John Pham and Hongsheng Tong and is led by CEO Clint Carnell. InBrace is based in Irvine, CA and targets the roughly $40 billion orthodontics market. The company intends to use the new financing to continue accelerating adoption of its technology. Financially, InBrace secured a $45M venture loan facility in 2022 and previously completed a $100M+ Series D in 2021. InBrace develops a personalized Smartwire hidden behind the teeth that gently straightens smiles using AI and Gentleforce™ Technology. Its Programmed Non-Sliding Mechanics process and proprietary Smartwire are designed to treat all types of orthodontic cases from mild to severe malocclusions. The system was invented by Drs. John Pham and Hongsheng Tong to provide a healthier, more efficient teeth-straightening solution for children with cleft lip and palate. InBrace partnered with USC and Children’s Hospital Los Angeles and filed the first application in its patent portfolio in 2012. The company says the Smartwire delivers fast results and healthy tooth movement while remaining completely hidden behind the teeth. InBrace is based in Irvine, California, and in September 2021 closed an oversubscribed $102 million Series D. Swift Health Systems makes INBRACE, an invisible braces system positioned behind patients' teeth that leverages an all-digital platform and patented Smartwire technology. Patented INBRACE Smartwires are programmed from digital scans and automate many orthodontic treatment steps, enabling light-force tooth movement, increased practice efficiency and reduced overall treatment time. The company raised $45MM in a Series C financing, bringing total capital raised to more than $70MM. Proceeds will be used to broaden commercial availability through expanded orthodontist onboarding and training, increased sales and marketing resources, and consumer demand-generation programs to support existing and new INBRACE providers. Swift positions INBRACE as a clinician-supervised alternative to rising do-it-yourself aligner therapy, emphasizing patient oral health, supervised care, and improved treatment experience. The company is based in Irvine, Calif. Swift Health Systems develops INBRACE, a patent‑protected, behind‑the‑teeth orthodontic system powered by Smartwires™ and Gentleforce™ technology. The INBRACE system is licensed from the University of Southern California and is being implemented at a growing list of US orthodontic programs and private practices. Swift says Gentleforce™ delivers consistent light force for healthier, more efficient tooth movement while Smartwires™ allow normal brushing and flossing. Pilot orthodontists report excellent clinical results and strong patient feedback, generating mounting referrals and interest across the orthodontic community. The company is using new funding to bolster customer support and scale manufacturing to meet growing demand, and is preparing for a national launch in 2019. Swift presented clinical outcomes and educational briefings at the AAO 2018 Annual Session in Washington, D.C.

Led · Series B · Dec 2020

Reneo Pharmaceuticals is a San Diego, CA–based clinical-stage pharmaceutical company focused on therapies for patients with genetic mitochondrial diseases. Its lead investigational candidate, REN001, is an oral, once-daily drug known to control several genes involved in mitochondrial activity. Reneo is developing REN001 as a potential first-in-class treatment to improve cellular energy metabolism by enhancing mitochondrial function and potentially increasing the number of mitochondria. The company announced a $95M Series B financing to advance its clinical development programs. The financing involved both existing and new investors to support continued development of REN001. Reneo also announced the appointment of Gregory J. Flesher as President and CEO, with founding CEO Dr. Niall O’Donnell remaining on the board. Reneo Pharmaceuticals is a San Diego-based clinical stage pharmaceutical company developing therapies for diseases associated with deficits in cellular metabolism and energy production. Its lead program is REN001, a PPAR delta agonist being developed to treat genetically defined rare mitochondrial diseases such as fatty acid oxidation disorders (FAOD) and primary mitochondrial myopathies (PMM). The company is led by president and CEO Niall O'Donnell, Ph.D. Reneo completed a $50m Series A financing to support its programs. Proceeds will fund ongoing Phase 1b clinical trials as well as other clinical and preclinical studies. Its board includes Mike Grey, Niall O'Donnell, Ed Mathers, Johan Kordel, Arthur Pappas and Lon Cardon.

Led · Series C · Sep 2020

LAVA Therapeutics develops a proprietary bispecific antibody platform that engages Vγ9Vδ2 gamma-delta T cells to target hematologic and solid tumors. Its first-in-class immuno-oncology approach activates these T cells upon binding to membrane-expressed tumor targets to create tumor-targeted immunotherapies. The company plans to advance its bispecific gamma-delta T cell engager portfolio into multiple proof-of-concept clinical trials expected to start in 2021 for solid tumors and hematologic malignancies. LAVA describes gamma-delta T cells as a bridge between innate and adaptive immunity and an untapped opportunity in cancer treatment. The company raised financing to fund advancement of its pipeline and platform and has established antibody R&D teams in Utrecht, the Netherlands and Philadelphia, USA. Lava Therapeutics is developing a proprietary platform of bispecific γδ T cell engaging antibodies that redirect Vγ9Vδ2 T cells to membrane-expressed tumor targets. The company has demonstrated proof of principle for the platform and aims to translate the approach into first-in-class immuno-oncology therapeutics. Lava plans to broaden its pipeline and advance a lead candidate toward clinical testing. The business recently strengthened its R&D leadership with the appointment of Paul Parren, an experienced antibody drug developer. Founded in 2016 and operating out of the Netherlands, Lava builds on research from VU University Medical Center and Cancer Center Amsterdam. The company intends to use new financing to further develop and validate its platform and expand its therapeutic programs.

Participated · Series B · Jun 2020

NodThera is developing a new class of potent, selective small‑molecule NLRP3 inflammasome inhibitors, with its lead candidate NT‑0167 in a Phase 1 first‑in‑human study assessing safety, tolerability, pharmacokinetics and pharmacodynamics. In preclinical work NT‑0167 showed potent and selective inhibition of NLRP3 with reductions in IL‑1β and IL‑18. The company intends to use recent financing to advance NT‑0167 through clinical studies and to progress additional compounds, including brain‑penetrant NLRP3 inhibitors for central nervous system indications. NodThera also plans continued drug discovery to expand its pipeline of differentiated NLRP3 inhibitors. The company highlights a management team and science focused on exploiting inflammasome biology and chemistry. NodThera maintains offices in Cambridge (UK), Seattle (WA) and Boston (MA). NodThera discovers and develops next-generation small-molecule inhibitors of the NLRP3 inflammasome, a multi-protein complex that initiates innate immune responses. The company’s strategy is to advance its lead drug candidate to proof-of-concept in humans in an inflammatory disease and to progress additional candidates addressing neurodegenerative diseases and certain cancers. NodThera was created and seed-funded by Epidarex Capital in 2016 based on earlier research conducted at Selvita, which remains a shareholder. Alan Watt, PhD MBA, serves as Chief Scientific Officer and acting Chief Executive Officer. In June 2018 the company completed a second closing of a £28m ($40m) Series A financing. The round also prompted board changes, with Henrijette Richter and Scott Rocklage joining the board and Richter set to serve as Chair.

Participated · Series B · Sep 2019

Anokion SA is a clinical-stage Swiss biotechnology company focused on restoring normal immune tolerance to treat autoimmune diseases. Its lead candidate, KAN-101, is an investigational therapy designed to induce tolerance to gliadin via natural liver pathways for celiac disease and has received FDA Fast Track designation. Data from the Phase 1 ACeD study presented at DDW 2022 showed KAN-101 was safe and tolerated, reduced T cell responses following gluten challenge, and demonstrated dose-dependent inhibition of gluten-induced serum IL-2. Based on those findings, Anokion is preparing to initiate patient dosing in a Phase 2 clinical trial in the second half of 2022. The company also pursues earlier-stage programs targeting multiple sclerosis and type 1 diabetes using its immune-based platform. The release references operations in Lausanne, Switzerland (and cites Cambridge, Mass. in the announcement header). Anokion focuses on treating autoimmune diseases by restoring normal immune tolerance using an immune-based platform that targets natural pathways in the liver. Its lead product, ANK-780, is an antigen-specific treatment for multiple sclerosis. The company acquired Kanyos Bio, adding KAN-101, an antigen-specific treatment for celiac disease that is in late preclinical development with an IND expected by the end of 2019. Anokion anticipates having two programs in clinical development within the next 12 months. The company has an existing collaboration with Celgene to develop immune-modulating programs for autoimmune diseases. Anokion operates from Cambridge, Mass. and Lausanne, Switzerland and has strengthened its management team and board following the transactions. Anokion advances an antigen-specific immune tolerance platform to develop therapeutics for multiple autoimmune indications and to reduce the immunogenicity of therapeutic proteins. Its lead approaches include engineering antigens to bind glycophorin A on erythrocytes so that apoptotic red blood cells elicit a tolerogenic immune response, and a liver-targeted tolerance strategy that attaches engineered antigens to liver cells. The platform is described as translatable to virtually any protein across numerous clinical indications. The company announced an exclusive global research collaboration with Celgene that included a $45 million upfront payment and eligibility for an additional $10 million tied to preclinical milestones. Celgene also obtained an equity interest and an exclusive right to acquire Anokion at pre-specified option exercise points, while Anokion retains full control of its R&D during the option period. Anokion is a spin-off from EPFL and lists Versant Ventures, Novo Ventures, Novartis Venture Fund and a group of individual investors among its backers. Anokion develops a technology to retrain white blood cells to induce therapeutic immune tolerance, aiming to reduce the immunogenicity of therapeutic proteins and to treat autoimmune and allergic diseases. The company has demonstrated efficacy by creating a tolerogenic form of asparaginase, a protein drug used to treat a form of leukemia. Anokion is an exclusive licensee of EPFL’s patent filings covering the technology. It was founded as a spin-off from the Ecole Polytechnique Fédérale de Lausanne (EPFL) by Jeff Hubbell. The company closed a CHF33m (approximately $37.5m) Series A to advance clinical candidates in immune-masked protein therapeutics, autoimmune and allergic indications, with first clinical trials planned for 2017. Following the financing, senior representatives from the lead investors joined the board and Jens Kurth joined the management team as Chief Technology Officer.