Led · Equity · Mar 2023

Salubris Biotherapeutics is a clinical-stage biotechnology company developing complex biologic therapeutics for cardiovascular, oncology, and neurodegenerative indications. Its lead candidates include JK07, a recombinant IgG1–NRG-1 fusion designed to selectively stimulate HER4/ErbB4 signaling; JK08, a CTLA-4 antibody–IL-15 fusion for solid tumors; and JK06, a preclinical biparatopic antibody-drug conjugate. JK07 completed patient dosing in a Phase 1b HFrEF study with topline results planned for presentation and is slated to begin a Phase 2 study in the second half of 2023 while a Phase 1b HFpEF study is actively enrolling. JK08 is in an ongoing Phase 1/2 study for solid tumors with a fourth cohort now recruiting and preliminary favorable safety and dose-dependent pharmacodynamic activity reported in early cohorts. The company was founded in August 2016 as a wholly-owned subsidiary of Shenzhen Salubris Pharmaceuticals and is headquartered in Gaithersburg, Maryland. In 2023 it received a $35 million financing from Shenzhen Salubris Pharmaceuticals to advance JK07 into Phase 2, continue JK07 HFpEF and JK08 trials, launch a neurology trial for JK07, and advance JK06 toward initial clinical testing. Salubris Biotherapeutics is a clinical-stage biotech focused on discovering and developing novel complex biologic therapeutics for cardiovascular, oncology, and neurodegenerative diseases. Its lead asset, JK07, is an antibody-based NRG-1 fusion protein in Phase 1 trials for heart failure with reduced ejection fraction (HFrEF) and is the first bi-specific antibody globally to enter a cardiovascular clinical trial. Cohort 1 (n=5) of the randomized, double-blind, placebo-controlled dose-escalation HFrEF study showed a favorable safety profile and signals of clinical benefit, including up to an 18% absolute improvement in ejection fraction. The company says the FDA has agreed to the initiation of a Phase 1 study of JK07 in heart failure with preserved ejection fraction (HFpEF) and that preparations for that trial are underway while Cohort 2 enrollment in HFrEF is ongoing. SalubrisBio has multiple assets across clinical and preclinical development and additional discovery-stage programs. The company announced a $32 million financing from Shenzhen Salubris Pharmaceuticals in Q4 2021 to advance the pipeline, continue the ongoing Phase 1b trial and initiate two additional Phase 1b trials in 2022, and to expand R&D.

Led · Series B · Jan 2021

金仕生物 is a platform company concentrating on innovative devices for structural heart disease, with product lines that include surgical bioprosthetic valves, annuloplasty rings, bio‑patches, TAVR and interventional mitral and tricuspid devices. The company originated from surgical valve products and has accumulated extensive valve processing and manufacturing know‑how. Its surgical product line (annuloplasty rings and surgical bioprosthetic valves) is already on the market; the bio‑patch is expected to complete registration this year. The company’s third‑generation transcatheter aortic valve replacement (TAVR) system is nearing completion of clinical trial enrollment and may become the first approved third‑gen valve. Management plans to use new funding to accelerate R&D and rollout of mitral and tricuspid interventional products, advance third‑gen TAVR registration, and scale mass production of surgical biovalves and bio‑patches. The firm positions itself to capture domestic import‑substitution opportunities in a market currently dominated by foreign incumbents and to benefit from rising TAVR adoption. Founded in 2012, Jinshi Bio focuses on cardiac surgical products and micro‑invasive interventional valves built around bioprosthetic valve core technologies. Its product portfolio includes next‑generation bioprosthetic heart valves, micro‑invasive interventional valves, annuloplasty rings and biological patches. The company owns proprietary technologies such as a 3D double‑saddle annuloplasty ring design, anti‑calcification treatments, dry‑film preservation and leaflet thinning techniques, which the article describes as filling domestic gaps and being internationally advanced. Its annuloplasty ring has received national special approval for innovative medical devices and will be launched soon, while its bioprosthetic valves are nearing completion of clinical trials. Jinshi positions its products as high‑end import substitutes and aims to capture China’s high‑end valve market by leveraging its innovation and first‑mover advantages. The company recently completed a Series B financing, strengthening its financial position for clinical and commercial advancement.

Led · Equity · Dec 2018

Viracta Therapeutics entered into a loan and security agreement with Silicon Valley Bank and Oxford Finance for up to $50.0 million. The new credit facility supersedes a prior $15.0 million loan and refinanced an existing $5.0 million debt balance. Under the agreement, $45.0 million remains available in two additional tranches of $20.0 million and $25.0 million. The facility is structured as a loan and security agreement provided by SVB and Oxford Finance. The company is under no obligation to draw on the remaining tranches. No operating metrics or additional financial details were disclosed in the announcement. Viracta Therapeutics, Inc. announced it received approximately $65 million in funding. The company closed the transaction on February 24, 2021. It raised $64,999,994 pursuant to Regulation D from 26 investors. The articles describe the backers only as a group of investors and do not name any participants. The reporting includes no operating metrics, product details, future plans, prior financings, founding year, or location. Beyond this Regulation D raise, the company’s broader financial situation is not disclosed in the articles. Viracta Therapeutics is a San Diego, CA–based precision oncology company targeting virus-associated malignancies. Led by President and CEO Ivor Royston, the company’s proprietary lead molecule, nanatinostat, is being evaluated orally in combination with valganciclovir in a Phase 2 trial for Epstein‑Barr virus–positive lymphomas. Viracta describes this as a Kick and Kill approach and is pursuing its application in other EBV‑associated malignancies such as nasopharyngeal carcinoma and other virus-related cancers. The company closed a Series D financing of an undisclosed amount led by Taiwania Capital Management with participation from existing investors. In conjunction with the financing, Michael Huang, Managing Partner at Taiwania, joined Viracta’s Board of Directors. Proceeds are expected to be used to complete the Phase 2 study, support subsequent initiation of registration studies and for general corporate purposes. Viracta Therapeutics is a clinical-stage drug development company advancing medicines based on a 'kick & kill' approach for viral-associated cancers. Its lead candidate, nanatinostat (VRx-3996), is being developed in combination with an antiviral as the first targeted, orally administered therapy for EBV-associated malignancies. Viracta is conducting a Phase 1b/2 clinical trial for EBV-associated lymphomas in the US and Brazil and plans to initiate a trial for EBV-associated solid tumors in the coming year. The company entered an exclusive collaboration and license agreement with Shenzhen Salubris to develop and commercialize the approach in China. Under the agreement Viracta received an equity investment and is eligible to receive up to $58 million in pre-commercial milestones, plus sales-level-triggered commercial milestones and tiered royalties. The partnership targets EBV-driven cancers that disproportionately affect patients in Southern China, including nasopharyngeal carcinoma, gastric carcinoma, and NK/T cell lymphomas. Viracta Therapeutics is a San Diego-based clinical-stage drug development company led by CEO Ivor Royston, M.D. The company advances medicines based on a proprietary viral gene activation therapeutic approach for viral-associated cancers and other serious diseases. Its lead candidate, VRx-3996, is a Class 1 histone deacetylase inhibitor (HDACi) in Phase 2 development for Epstein-Barr virus (EBV)-associated malignancies. Viracta will use the proceeds from the financing to advance VRx-3996 into Phase 2 clinical studies. The company agreed to an exclusive license of VRx-3996 to NantKwest for use in combination with NantKwest’s natural killer (NK) cell therapy platforms. NantKwest intends to transition VRx-3996 into human clinical trials combined with its aNK, haNK and taNK platforms. As part of the transaction, NantKwest Chairman and CEO Patrick Soon-Shiong will join Viracta’s Board as Vice Chairman.

Led · Series D · Jun 2018

Mercator MedSystems is a medical device company based in Emeryville, CA, focused on the clinical and commercial development of proprietary catheter-based micro-infusion technologies. Its products include the Bullfrog® Micro-Infusion Device for intravascular delivery and the Blowfish® Transbronchial Micro-Infusion Catheter for airway delivery. The company is developing clinical applications in peripheral and coronary artery disease, cancer, hypertension and cardiac regeneration. Led by CEO Trent Reutiman, Mercator holds FDA clearance and CE marking for its technologies. The company intends to use new funds to further advance the clinical development of its micro-infusion catheter systems. Mercator MedSystems develops catheter-guided micro-infusion systems, including the Cricket™ and Bullfrog® Micro-Infusion devices, for targeted delivery of drugs and biologics to treat conditions such as cardiovascular disease, oncology, hypertension and PAD. The company spun out of the University of California, Berkeley in 2000 and is based in San Leandro, CA. It is led by CEO Thomas M. Loarie and CSO Kirk P. Seward, Ph.D. Mercator intends to use the recent funding to initiate sales of its devices in Europe, the United States and Australia. The company will also use proceeds to support clinical validation of its platform to treat peripheral artery disease. Mercator recently closed a $6.5M Series B financing to fund these commercial and clinical efforts.

Led · Equity · May 2018

MedAlliance develops next‑generation drug‑coated balloon (DCB) technology, Selution, a sirolimus micro‑reservoir DCB intended for peripheral artery disease (PAD), coronary artery disease (CAD) and arteriovenous fistulas (AVF). The micro‑reservoir design is intended to deliver controlled, sustained release of sirolimus to target lesions and to enable movement away from permanent metal scaffolds and durable polymers. Early clinical data from a first‑in‑man study reported one of the lowest six‑month target lesion revascularization rates seen in a DCB first‑in‑man study. The company is privately owned, was founded in 2008, and has R&D facilities in Irvine, California and Singapore. MedAlliance has a team with prior experience in drug‑eluting stents, balloons, polymers and drugs and focuses on product development and commercialization in coronary and peripheral vascular disease.