Participated · Equity · Sep 2024

Candid Therapeutics is advancing a pipeline of bispecific T-cell engager (TCE) antibodies that selectively direct T cells to eliminate disease-causing B cells and plasma cells in autoimmune disorders. Its lead candidate, cizutamig, targets BCMA and CD3 and has been administered to 87 patients (47 with autoimmune diseases), showing favorable tolerability with only mild cytokine release syndrome; Phase 2 studies in myasthenia gravis and rheumatologic interstitial lung disease are slated for 2026. Additional assets include CND261, a CD20-directed TCE already tested in over 100 patients, and CND319, a dual CD19/CD20 engager expected to enter first-in-human trials in mid-2026, plus a preclinical BCMA/CD19 program. The company is led by Chairman, President and CEO Dr. Ken Song and, following a planned merger with Rallybio, will trade on Nasdaq under the ticker CDRX. An oversubscribed private financing of more than $505 million, together with Rallybio’s cash, will leave the combined entity with roughly $700 million at closing, providing funding runway through 2030. These resources are earmarked to advance multiple clinical milestones, including the Phase 2 trials for cizutamig and early-stage studies for next-generation TCEs.

Participated · Equity · May 2024

ByHeart is an NYC-based infant nutrition company that uses breast milk science to develop clinically proven products. Its formulas are positioned to deliver benefits such as easier digestion, less spit up, softer poops, more efficient weight gain and enhanced nutrient absorption. The company operates end-to-end manufacturing facilities in Pennsylvania, Oregon, and Iowa, enabling full control over production and quality. ByHeart is a three-time Clean Label Project Certified brand and is led by CEO Ron Belldegrun. It recently launched in Thrive Market and plans to expand to several additional retailers by the end of 2024. The company raised $95M to support its U.S. commercial launch and the development of its innovation pipeline, bringing total funding to $395M to date. ByHeart is advancing an infant formula recipe that incorporates modern advancements in baby nutrition. The company plans to use its Series B proceeds to launch its first formula and to advance its innovation pipeline of mom and baby products. It recently launched Cluster, a digital platform offering resources and education to support parents from pregnancy through toddlerdom. ByHeart was founded in 2016 by Ron Belldegrun and Mia Funt and is based in New York City. The company operates manufacturing facilities in Pennsylvania. It raised $90M in Series B financing to fund these initiatives. ByHeart develops infant and baby nutrition products, including baby foods and formulas grounded in nutrition science and production transparency. The company targets immune, cognitive, digestive and microbiome health. Co-founded in 2016 by Mia Funt and Ron Belldegrun, ByHeart is based in New York City and operates facilities in Pennsylvania. It is conducting a multi-site infant-growth monitoring clinical study in accordance with FDA requirements to support a first product launch in 2021. The company closed a $70M Series A and is using the funds to continue to expand its development efforts.

Participated · Series A · Jan 2021

IconOVir Bio is a preclinical-stage biotech company developing next-generation oncolytic viruses using a proprietary platform based on Clodagh O'Shea's research at the Salk Institute. Its discovery pipeline includes multiple differentiated oncolytic virus candidates designed to be potent, tumor-selective, amenable to intravenous administration, and broadly infect tumor cells. Lead candidate IOV-1042, derived from the common cold virus, has shown preclinical activity against head and neck, bladder, lung and breast tumor cells. The company expects to submit an IND for IOV-1042 in the first half of 2022 and aims to advance candidates into clinical development over the next 18–24 months. IconOVir was founded by Two River Group and has assembled a board and management team with extensive oncology and company-building experience, including newly appointed CEO Mark McCamish. The company raised $77 million in a Series A to support advancement of its pipeline.

Participated · Series A · Sep 2020

Neogene Therapeutics is a pre-clinical stage biotech pioneering fully personalized engineered T cell therapies that target neo-antigens — mutated proteins unique to each patient’s tumor. Its proprietary platform isolates neo-antigen–specific TCR genes from tumor biopsies using DNA sequencing, synthesis and genetic screening, then engineers those TCRs into patient T cells. The company emphasizes a syn‑bio based approach intended to improve standardization and scalability versus traditional TIL methods. Neogene was founded in 2018 by experienced cell therapy researchers and has demonstrated proof-of-concept for its platform via a 2019 seed financing. With the Series A, the company is expanding offices in Amsterdam and the U.S. and aims to initiate Phase I clinical studies in 2022.

Participated · Series A · Mar 2020

Amunix Pharmaceuticals is a South San Francisco-based biopharmaceutical company focused on developing masked, protease-activated immune-oncology therapeutics. It leverages proprietary XPAT® and XPAC™ platforms to advance drugs that are preferentially activated in the tumor microenvironment and designed to overcome toxicity challenges of other T cell and cytokine therapies. Its proprietary masking technology has been clinically validated to extend drug half-life with limited immunogenicity. The company’s pipeline includes AMX-818, an XPAT® T cell engager targeting HER2-expressing solid tumors currently in IND-enabling studies, and an IL12-XPAC™ masked cytokine program in discovery. Led by CEO Angie You, Ph.D., Amunix raised $117M in a Series B financing to advance AMX-818 into the clinic and to support its earlier-stage XPAT and XPAC programs. The funding will be used to support clinical translation and continued development of its masked, protease-activated product candidates. Amunix Pharmaceuticals develops prodrugs to enable potent immune-activating biotherapeutics for patients with solid tumor cancers. Its pipeline centers on XPAT T cell engagers and XPAC cytokines that are selectively activated in the tumor microenvironment to mitigate toxicity and immunogenicity. Both platforms leverage the company’s clinically validated XTEN and Pro‑XTEN technologies to generate masked, protease‑releasable prodrugs with low immunogenicity. With the $73 million Series A and a prior $40 million upfront from a Roche licensing agreement, Amunix plans to advance lead candidate AMX‑818 (an XPAT targeting HER2+ solid tumors) into the clinic and progress earlier discovery-stage XPAT programs. The company also intends to initiate XPAC discovery work and relocate to South San Francisco to access talent. Founded in 2006, Amunix previously operated as a technology licensing company and has refocused on internal development since appointing Dr. Angie You as CEO in January 2019. The executive team includes industry veterans such as Mika Derynck (CMO), Maninder Hora (CTOO), Bryan Irving (CSO), and Darcy Mootz (CBO).