Led · Seed · Jan 2025

BIMINI Biotech develops first-in-class small-molecule therapeutics that target the Wiskott Aldrich Syndrome Protein (WASp) to inhibit cancer cell growth in hematological malignancies. The company has a portfolio of WASp modulators intended for multiple hematological cancers and autoimmune disorders and has shown promising in vitro and in vivo anti-cancer effects in lymphoma and leukemia models. BIMINI is preclinical-stage and focuses on lymphomas and leukemia subtypes with high relapse rates and unmet medical need. The startup will use new funding to accelerate preclinical development and to validate the safety and efficacy of its candidates. It also plans to scale its proprietary drug discovery platform with support from the Expert Systems accelerator and its hybrid AI-based system. BIMINI was founded in 2019 and aims to offer targeted agents with a novel mechanism of action as alternatives to current treatment options.

Participated · Equity · May 2016

Viriom Inc. is a San Diego–based late-stage biotech developing, manufacturing and distributing novel and affordable therapies against life‑threatening infections including HIV and HBV. Its lead asset is Elpida (elpivirine), a non-nucleoside reverse transcriptase inhibitor (NNRTI) for HIV to which Viriom holds an exclusive worldwide license from F. Hoffmann‑La Roche; Elpida is in Phase 2–3. The company is also developing a proprietary treatment for chronic HBV. Viriom raised $4.7M in a financing that combined equity and non‑equity instruments. A portion of the financing is a three‑year $2.35M grant from The Skolkovo Foundation to support development of fixed‑dose combinations and long‑acting injectable formulations of Elpida. ChemRar and Torrey Pines Investment committed matching capital on a pari passu basis to support the program.

Led · Seed · Feb 2016

Chromis Therapeutics is an antiviral drug discovery company focused on developing novel curative treatments for chronic hepatitis B virus (HBV) infection. The company uses a proprietary drug design and discovery platform to advance multiple drug candidates toward the clinic. Its antiviral programs target HBV cccDNA, the covalently closed circular DNA responsible for establishing and maintaining persistent infection. Chromis’ leading HBV program uses a proprietary in vitro HBV core assembly model to discover small molecules that reduce or eliminate cccDNA in infected liver cell nuclei and block mechanisms of re-infection. The company intends to advance a platform of antiviral drugs including cccDNA inhibitors, entry inhibitors and capsid assembly inhibitors. Chromis is led by CSO and Scientific Founder Vadim Bichko, Ph.D., and recently completed an initial $3M seed financing led by Torrey Pines Investment to fund these development plans.

Participated · Series B · Sep 2014

Avelas Biosciences is a San Diego, California-based clinical-stage oncology-focused company dedicated to improving cancer patient care from diagnosis through treatment. Its lead product, AVB-620, is a cancer illuminator currently in a Phase 1b trial in breast cancer to assess safety, pharmacokinetics and fluorescence properties using tissue image analysis. The company was founded by Avalon Ventures on technology from Nobel laureate Roger Y. Tsien and is led by president and chief executive officer Carmine N. Stengone. Avelas is focused on advancing AVB-620 toward later-stage clinical development and on developing new targeted therapeutics for cancer. The company intends to use recent financing proceeds to push AVB-620 into late-stage clinical trials and for general corporate purposes. Avelas Biosciences is advancing the Avelas Cancer Illuminator (ACI) technology and its lead candidate AVB-620, a fluorescent peptide conjugate intended to provide real-time intraoperative cancer diagnosis. The company aims to give surgeons a luminous map to guide tumor and metastatic lymph node excisions during the initial surgery instead of waiting for limited pathology reports. ACI leverages increased activity of protease enzymes in tumors and metastases and was pioneered by Nobel Prize winner Roger Y. Tsien, Ph.D. AVB-620 is being advanced through a planned first-in-human study in breast cancer surgery patients. Carmine Stengone serves as president and CEO. The company is using recent financing to support ongoing development of AVB-620. Avelas Biosciences develops fluorescent technologies to advance care for cancer surgery, with a lead candidate called the Avelas Cancer Illuminator (AVB-620). AVB-620 is a fluorescent peptide designed to deliver a real-time intraoperative cancer diagnosis as a luminous map to inform surgical decisions during the first operation. The company reports preclinical in vivo accuracy for AVB-620 of greater than 95% and expected the candidate to enter clinical studies in 2014. Avelas intends to use the newly raised funds to support ongoing development of AVB-620 through a first-in-patient study. The financing activity brought total funds raised since inception to $14M. The company is based in San Diego. Avelas Biosciences is a San Diego–based developer of fluorescent technologies aimed at improving cancer surgery. The company has developed the Avelas Cancer Illuminator (ACI), a fluorescent peptide and imaging approach that marks cancerous lymph nodes by changing color in response to elevated protease activity. When used with a fluorescence imaging camera system during surgery, ACI superimposes a color-coded image of cancerous tissue onto the normal surgical view to guide real-time surgical decisions. Avelas was founded on technology generated by Roger Tsien, Ph.D., and is led by CEO Jay Lichter, Ph.D. The company is funded by Avalon Ventures and recently closed a Series A financing. It intends to use the capital to advance ACI toward clinical studies for visualization of cancerous lymph nodes in breast cancer patients.