Bits In Bio Weekly - December 10th 2024
Updates From and Around the Bits in Bio Community
📢 Highlights
BMS and AI Proteins Unite with $400M Deal to Advance Miniprotein Therapeutics"
Dimension’s $500M Fund to Accelerate Tech-enabled Biotech Breakthroughs
GSK’s €33.5M Deal with Muna Fuels Alzheimer’s Research Focus
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Bristol Myers Squibb Partners with AI Proteins in $400M Therapeutic Deal
Boston-based AI Proteins has announced a comprehensive research collaboration and option agreement with Bristol Myers Squibb (BMS), centered on the development of novel miniprotein-based therapeutics. The partnership, valued at up to $400 million, includes upfront payments, milestone-driven fees, and tiered royalties on future product sales. The agreement allows AI Proteins to advance discovery-stage miniprotein candidates through preclinical validation, while BMS retains exclusive options to further develop and commercialize the most promising molecules. Miniproteins, known for their small size and high binding specificity, are engineered proteins that offer unique advantages over traditional biologics, such as enhanced stability, reduced immunogenicity, and the ability to target molecular pathways that are difficult to address with antibodies or small molecules. Since their founding in 2021, AI Proteins’ proprietary platform has enabled rapid design and optimization of diverse therapeutic candidates, focusing on oncology and immunology indications where unmet medical needs remain critical. “Our platform combines AI, synthetic biology, and laboratory automation to rapidly design and optimize novel miniproteins with ideal drug-like properties. By combining our expertise in protein engineering with Bristol Myers Squibb’s deep knowledge of pharmaceutical development, we aim to create a new generation of targeted therapies that can transform patient outcomes.” said Chris Bahl, PhD, President, CSO and Founder.
New $500M Fund from Dimension Targets Early-Stage Life Sciences Innovation
Dimension announced the successful close of a $500 million investment fund focused on advancing technology-enabled life sciences companies. The fund, which doubles the size of the firm's 2020 inaugural fund, will target early and growth-stage companies developing solutions in AI-driven drug discovery, computational biology, and precision medicine. The firm plans to dedicate 40% of the capital to follow-on investments, supporting portfolio growth and expansion. This strategy builds on Dimension's successful track record from its first $300 million fund, which backed 25 companies including DeepMind Health and Atomwise, resulting in multiple successful exits. "Our vision is to enable breakthroughs at the convergence of tech and life sciences that fundamentally change the way we approach human health," said a Dimension managing partner. The fund will prioritize companies leveraging machine learning, automation, and big data analytics to address critical healthcare and biotechnology challenges, with a strong focus on technical and scientific expertise.
Behind the Deal: GSK’s Strategic Alliance with Muna Therapeutics in Alzheimer’s Research
GSK’s €33.5 million pact with Muna Therapeutics, with up to €140 million in milestone payments per target, marks a modest but strategically significant move into Alzheimer’s disease (AD) research. Using Muna’s MiND-MAP platform, which applies spatial transcriptomics to postmortem brain samples, the collaboration aims to uncover novel therapeutic targets tied to resilience against AD pathology. This partnership reflects GSK’s renewed focus on neuroscience following its recent deal with Vesalius Therapeutics for Parkinson’s disease. GSK will advance validated targets through preclinical and clinical stages, building a robust early-stage neuroscience pipeline. The alliance comes amid a revitalized interest in Alzheimer’s research, spurred by advancements like the approval of disease-modifying therapies such as lecanemab (Leqembi). The potential rewards are significant, with the AD market projected to exceed $20 billion by 2030, driven by aging populations and improved diagnostics. By diversifying its portfolio and addressing immense unmet needs, GSK positions itself for long-term leadership in neurodegenerative treatments within a high-risk, high-reward sector.
Phase 1 Data Support Recursion's Novel CDK7 Inhibitor REC-5140
Salt Lake City’s own Recursion Pharmaceuticals has shared interim Phase 1 results for REC-5140, a selective CDK7 inhibitor, revealing early signs of efficacy in patients with advanced solid tumors. The trial recorded partial responses in 30% of participants with CDK7-sensitive biomarkers, while demonstrating manageable toxicity profiles. REC-5140 leverages Recursion’s AI platform, which integrates phenomics and machine learning to accelerate candidate identification and optimize trial designs. The CDK7 target is critical for regulating transcription in cancer cells, making it a promising avenue for treating aggressive cancers like triple-negative breast cancer and small-cell lung cancer. The findings mark a significant milestone for Recursion’s AI-driven oncology pipeline.
Safety Concerns Force BioAge to Halt Obesity Drug Trial BGE-147
Due to safety concerns that emerged during dosing, BioAge Labs has terminated its Phase 1 trial of BGE-147 for its new experimental obesity treatment, BGE-147, which targeted metabolic pathways to reduce fat accumulation, was part of BioAge’s broader effort to combat age-related diseases using AI-driven insights from its proprietary human longevity database. While preclinical data indicated potential efficacy, the adverse events demonstrated the continued complexities of translating metabolism-focused therapies into clinical settings. BioAge has shifted its resources to other pipeline candidates, including interventions targeting immune aging and skeletal muscle health. The setback provides a lesson to other longevity companies, showing the inherent risks in developing anti-aging therapeutics for diseases with complex pathophysiology with
$161M Funding Accelerates Nuvig's Selective Immunotherapy Development
Nuvig Therapeutics has closed a $161 million Series B financing round to advance NVG-301, its next-generation immunomodulator targeting autoimmune diseases. NVG-301 selectively reprograms immune responses to restore tolerance without inducing broad immunosuppression, a major limitation of existing therapies. The funding, led by Cormorant Asset Management and joined by Fidelity Management, builds on promising Phase 1 results that demonstrated significant reductions in inflammatory markers in lupus patients. Nuvig plans to initiate Phase 2 trials across multiple autoimmune indications, including rheumatoid arthritis and multiple sclerosis, with an aim to capture a share of the global autoimmune market projected to exceed $150 billion by 2030.
Phase 1 Data Support Recursion's Novel CDK7 Inhibitor REC-5140
Salt Lake City’s own Recursion Pharmaceuticals has shared interim Phase 1 results for REC-5140, a selective CDK7 inhibitor, revealing early signs of efficacy in patients with advanced solid tumors. The trial recorded partial responses in 30% of participants with CDK7-sensitive biomarkers, while demonstrating manageable toxicity profiles. REC-5140 leverages Recursion’s AI platform, which integrates phenomics and machine learning to accelerate candidate identification and optimize trial designs. The CDK7 target is critical for regulating transcription in cancer cells, making it a promising avenue for treating aggressive cancers like triple-negative breast cancer and small-cell lung cancer. The findings mark a significant milestone for Recursion’s AI-driven oncology pipeline.
Quantum-AI Platform Developer Aqemia Reaches $100M Total Funding
Paris-based Aqemia has raised $38 million in additional funding, bringing its total to $100 million to advance its quantum-inspired AI drug discovery platform. Aqemia combines advanced computational chemistry with machine learning to predict binding affinities and identify promising drug candidates. The platform’s speed and accuracy aim to slash discovery timelines, generating molecules within days rather than months. The funding round included investors such as Eurazeo, Elaia, and Bpifrance, reflecting growing confidence in its approach. Aqemia’s proprietary algorithms have already yielded candidates for oncology and rare diseases, with collaborations including a preclinical partnership for kinase inhibitors. The company is scaling operations to address the demand for AI-driven drug discovery in a global pharmaceutical market projected to exceed $1.4 trillion by 2030.
Antag Secures $84M to Develop Complementary Obesity Treatment
Novo Holdings-backed Antag Therapeutics has raised $84 million to advance its lead asset targeting complementary obesity pathways. Unlike GLP-1 receptor agonists, Antag’s therapy focuses on appetite regulation via amylin mimetics, which have demonstrated synergistic effects when combined with GLP-1 treatments. Preclinical studies showed a 30% greater reduction in food intake compared to standalone GLP-1 therapies. Investors included Novo Seeds and Lundbeckfonden Emerge, further underscoring the confidence in tackling the obesity epidemic. With the global obesity therapeutics market expected to surpass $30 billion by 2030, Antag’s approach addresses significant gaps in current treatment paradigms.
First Patient Dosed in Recursion's Novel C. Diff Therapy Study
Recursion Pharmaceuticals has dosed its first patient in a Phase 1/2 trial of REC-3964, an AI-designed small molecule for recurrent Clostridioides difficile infections. Unlike antibiotics, REC-3964 selectively targets C. diff while preserving beneficial gut microbiota, addressing the 20–30% recurrence rate seen with standard treatments. Preclinical studies showed a 40% reduction in bacterial load and improved gut barrier integrity. The trial will evaluate the therapy’s safety and efficacy in a cohort of 120 patients across multiple sites.
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