Participated · Series C · May 2024

Aardvark Therapeutics, led by CEO Tien Lee, M.D., is a clinical-stage biopharmaceutical company focused on developing novel small-molecule therapeutics that activate innate homeostatic pathways for metabolic diseases, inflammation, and other indications. Its lead compound, oral ARD-101, is a potent bitter taste receptor (TAS2R) pan-agonist that stimulates enteroendocrine cells of the digestive tract to release multiple gut-peptide hormones including GLP-1 and the satiety hormone cholecystokinin (CCK). ARD-101 has demonstrated an ability to reduce hunger when used alone or in combination with currently available GLP-1 therapies, and based on promising clinical data the FDA has granted the drug both Orphan Drug designation and Rare Pediatric Disease designation in Prader-Willi Syndrome. The company intends to use the Series C proceeds to complete the clinical trials required for regulatory approval of ARD-101 for hyperphagia in PWS and to demonstrate ARD-101’s complementary mechanism of action to current GLP-1 therapies in the treatment of obesity. Aardvark also plans to advance other pipeline programs with the financing. The company is based in San Diego, CA. Aardvark Therapeutics, led by CEO Tien Lee, M.D., is a San Diego-based clinical-stage biopharmaceutical company focused on developing and commercializing novel small molecule therapeutics to activate innate homeostatic pathways for metabolic diseases. Its lead compound, ARD-101, is a first-in-class small molecule TAS2R pan-agonist that demonstrated safety in Phase 1 human trials. ARD-101 has shown beneficial effects in animal models of obesity, hyperphagia, diabetes, hyperlipidemia, and inflammation. The company plans to use newly raised capital to complete three Phase 2 clinical trials of ARD-101 and to advance several potential additional formulations for major indications. Founded in 2017, Aardvark has multiple other programs in its pipeline and has already partnered one program to Sorrento Therapeutics. The company completed a $29M Series B financing to fund these activities.

Participated · Series C · Jul 2021

Artios Pharma is pioneering next-generation oncology medicines that exploit DNA damage response (DDR) mechanisms to selectively destroy hard-to-treat tumors. Its lead asset, the ATR inhibitor alnodesertib, has produced durable responses across eight solid tumor types, particularly in ATM-deficient cancers where no approved therapies currently exist. The company’s second clinical candidate, ART6043, is a DNA Polymerase θ inhibitor intended for BRCA-mutant, HER2-negative breast cancer patients eligible for PARP inhibitors, while additional pre-clinical programs include DDRi-antibody drug conjugates. Proceeds from the latest financing will broaden Phase 2 studies of alnodesertib in second-line pancreatic and third-line colorectal cancers—indications recently granted FDA Fast Track status—and will fund a randomized Phase 2 trial of ART6043. Management, led by newly appointed CEO Mike Andriole, believes these efforts will accelerate both assets toward registration. Following the $115 million Series D, the company is well-capitalized to advance its pipeline and transition toward commercial readiness.

Participated · Series C · Jul 2021

Artios exploits a DDR‑based platform and small‑molecule drug discovery capabilities to build a pipeline of next‑generation cancer therapies. Its pipeline includes ATR inhibitor ART0380, which is in a Phase 1 clinical study, and a potential first‑in‑class DNA polymerase theta (Polθ) inhibitor ART4215 planned for first‑in‑human studies in the second half of 2021. The company collaborates with Cancer Research UK and research groups including The Institute of Cancer Research, the Netherlands Cancer Institute and the Crick Institute. Artios has partner agreements with Merck KGaA (opt‑in on up to eight targets with milestone potential of up to $860M per target) and a collaboration with Novartis that included a $20M up‑front payment and up to $1.3B in milestones plus royalties. Artios is based at the Babraham Research Campus in Cambridge, UK, and has an office in New York City. The company has strengthened its balance sheet through equity financings, including a $153M Series C, bringing total capital raised to more than $320M to date. Artios is a Cambridge-based biotech focused on developing cancer therapeutics. The company was the subject of an $84 million development round reported in the article. That financing attracted participation from large pharmaceutical companies Pfizer and Novartis. The round is described as a development-stage financing intended to advance the company’s oncology drug programs. The deal underscores continued investor interest in cancer drug development. No operating metrics or additional financial terms were disclosed in the article.

Participated · Series C · Mar 2021

Gyroscope Therapeutics is a clinical-stage gene therapy company developing treatments for diseases of the eye that cause vision loss and blindness. Its lead candidate, GT005, is an AAV2-based, one-time subretinal gene therapy designed to increase production of Complement Factor I (CFI) to rebalance an overactive complement system implicated in AMD. GT005 has been granted Fast Track designation by the U.S. Food and Drug Administration and is being evaluated in Phase II clinical trials for geographic atrophy secondary to age-related macular degeneration (GA). Gyroscope plans to use proceeds from the Sanofi investment to support funding of ongoing clinical trials of GT005 in GA. The company is led by CEO Khurem Farooq and is headquartered in London, with locations in Philadelphia and San Francisco. Gyroscope Therapeutics is a clinical-stage gene therapy company focused on developing one-time AAV-based treatments for eye diseases, primarily geographic atrophy (GA) secondary to age‑related macular degeneration (AMD). Its lead investigational therapy, GT005, is an AAV2-based gene therapy designed to increase production of Complement Factor I (CFI) to modulate an overactive complement system and is delivered under the retina. GT005 has received Fast Track designation from the U.S. FDA and is being evaluated in Phase II trials (EXPLORE and HORIZON) and earlier Phase I/II (FOCUS) studies in genetically defined and broader GA populations. Gyroscope also develops a proprietary OrbitTM subretinal delivery system for precise posterior eye delivery and maintains a manufacturing platform and surgical delivery capabilities. Proceeds from the announced financing are earmarked to advance GT005’s clinical development, expand the early-stage pipeline, and further develop the delivery technology. The company is headquartered in London with locations in Philadelphia and San Francisco and is supported by a syndicate of life sciences investors.

Led · Series C · Dec 2019

Ripple offers blockchain-based enterprise solutions spanning global payments, custody, liquidity, and treasury management. It operates a multi-asset prime brokerage platform called Ripple Prime that provides financing and other services to institutional clients in traditional and digital markets. Founded in 2012 and based in San Francisco, Ripple positions itself as a one-stop shop for moving, storing, exchanging, and managing value. The company has secured a $200M debt facility from funds managed by Neuberger Specialty Finance to support growth of Ripple Prime and extend client financing. The financing is intended to increase Ripple's capacity and enhance its ability to serve new and existing institutional relationships. The deal reflects Ripple's focus on expanding institutional-facing products and access to capital.