Bits In Bio Weekly - November 26th 2024
Updates From and Around the Bits in Bio Community
📢 Highlights
Enveda's Plant-Based Drug Discovery Technology Draws $130M of New Investment
Roche Strengthens Cell Therapy Position with $1.5B Poseida Acquisition
Novartis Stakes $1.1B on Kate's Muscular Dystrophy Gene Therapy Pipeline
Please complete our anonymous annual survey HERE!
Not yet a member of our super awesome slack community of >8000? Join HERE 🤗
👀 In Case You Missed it ..
Enveda Raises $130M for AI-Enhanced Natural Drug Discover
Colorado-based Enveda Biosciences has closed a $130 million Series C funding round to accelerate its AI-driven drug discovery platform, which leverages metabolomic insights from plant-derived compounds. The platform analyzes chemical profiles from a library of over 2 million plant species, focusing on inflammation and autoimmune diseases. Enveda’s approach has already identified multiple preclinical candidates that modulate key disease pathways. Investors are banking on the platform’s ability to uncover novel therapies from nature’s chemical diversity, setting it apart in the competitive drug discovery landscape.
Strategic Acquisition Bolsters Roche's CAR-T Development Pipeline
Roche has announced a deal worth up to $1.5 billion to acquire Poseida Therapeutics, securing its portfolio of allogeneic CAR-T therapies. The acquisition includes Poseida's P-BCMA-ALLO1, a next-generation CAR-T candidate for multiple myeloma, and rights to Poseida’s gene-editing technology platform. Roche's move signals a deepened commitment to CAR-T innovation as the global CAR-T market is projected to reach $20 billion by 2030. This acquisition adds momentum to Roche’s efforts in transforming cancer treatments through cutting-edge cell therapies.
Behind the Deal: Novartis Bets $1.1B on Kate Therapeutics to Lead in Muscular Dystrophy Gene Therapy
Novartis’ $1.1 billion acquisition of Kate Therapeutics reflects its strategic push to expand its gene therapy portfolio and address critical unmet needs in muscular dystrophies. This deal, combining upfront cash and milestone payments, secures Kate’s preclinical programs targeting Duchenne muscular dystrophy (DMD), facioscapulohumeral dystrophy (FSHD), and myotonic dystrophy type 1 (DM1). Muscular dystrophies are rare, debilitating genetic diseases with limited treatment options and no cures. Existing therapies focus on symptom management, leaving significant room for innovation. Kate’s DELIVER platform addresses key challenges by using muscle-tropic AAV capsids to selectively target skeletal and cardiac muscles while avoiding the liver, overcoming delivery hurdles that have plagued prior therapies. Building on its success with Zolgensma for spinal muscular atrophy, Novartis is positioning itself to lead in neuromuscular gene therapies. Novartis’ move comes as competitors like Pfizer and Fulcrum Therapeutics have faced high-profile failures in late-stage trials, underscoring the difficulty of developing effective treatments for these diseases. Orphan drug designation likely further enhances the potential of Kate’s therapies, supporting higher pricing and stronger reimbursement prospects through market exclusivity and premium value.
Strategic Acquisition Bolsters Roche's CAR-T Development Pipeline
Roche has announced a deal worth up to $1.5 billion to acquire Poseida Therapeutics, securing its portfolio of allogeneic CAR-T therapies. The acquisition includes Poseida's P-BCMA-ALLO1, a next-generation CAR-T candidate for multiple myeloma, and rights to Poseida’s gene-editing technology platform. Roche's move signals a deepened commitment to CAR-T innovation as the global CAR-T market is projected to reach $20 billion by 2030. This acquisition adds momentum to Roche’s efforts in transforming cancer treatments through cutting-edge cell therapies.
Series B Round Accelerates Adcendo's ADC Development Program
Adcendo has secured $135 million in Series B funding to advance its pipeline of antibody-drug conjugates (ADCs) targeting sarcomas and other aggressive tumors. The company’s lead program focuses on the uPARAP receptor, highly expressed in certain cancers, and employs next-gen linkers to enhance ADC stability and efficacy. The funding, led by Novo Ventures, reflects the rapid growth of ADC therapies, which are expected to generate $25 billion in sales by 2028. Adcendo's approach could address unmet needs in tumors resistant to conventional therapies.
URL:
Immunotherapy Startup Secures Seed Funding for Checkpoint Platform
Valora Therapeutics has raised $30 million in seed funding to advance its glyco-immune checkpoint platform targeting resistant tumors. The platform exploits unique glycosylation patterns in tumor cells to enhance immune system activation while minimizing off-target effects. Backed by leading biotech investors, Valora’s preclinical data show significant tumor regression rates in advanced melanoma models. The funds will propel Valora’s lead candidate toward Phase 1 clinical trials by 2025, offering a new frontier in precision immunotherapy.
Series B Funding Accelerates Cradle's Protein Engineering Technology
Zurich's Cradle Bio has closed a $72 million Series B funding round to enhance its AI-driven platform approach to democratizing protein engineering. Founded in 2021, the company’s generative technology accelerates the design of therapeutic proteins for biopharma, agriculture, and industrial applications, reducing design timelines by 30%. Current collaborations include major biopharma firms leveraging Cradle’s platform to tackle challenges in biologics production. With this funding, Cradle aims to scale its platform globally and support more industries reliant on precision protein design.
$582M Deal Expands Acadia's Neurology Portfolio
The global rights to Saniona’s SAN711, a novel GABA-A modulator for essential tremor, have been acquired by Acadia Pharmaceuticals in a deal worth up to $582 million. Essential tremor impacts 7 million Americans, with SAN711 showing early promise in reducing tremor severity by over 40% in preclinical models. Acadia’s upfront payment of $25 million reinforces its commitment to expanding its neurology pipeline. This agreement positions Acadia as a leader in addressing movement disorders through innovative therapies.
New $70M Fund Targets Early-Stage Cancer Therapy Development
The bay area native venture fund,Jupiter Bio, has unveiled a $70 million fund to support early-stage oncology startups developing novel therapies such as CAR-T cells, bispecific antibodies, and immune checkpoint inhibitors. The fund’s focus is on startups addressing resistant tumor types with high unmet medical needs. By fostering collaborations with academic and clinical partners, Jupiter aims to accelerate discoveries from lab to clinic, tapping into the $180 billion global oncology market. This fund underscores the growing demand for innovative cancer therapies in the biotech sector.
🗓️ Upcoming BiB Events
See our handy dandy Lu.ma event calendar HERE, please RSVP so folks can plan accordingly!
Bits in Bio Belgium // 2024.4 // argenx - Thursday, November 28, 6:00 PM at Argenx
Thank you Kenny H. and Volodimir O. for organizing!
Minneapolis-St Paul Get Together - Tuesday, December 3, 5:00 PM at Pryes Brewing Company
Thank you Brian Repko for organizing!
BiB x TBT: San Diego Mixer - Wednesday, December 4, 6:30 PM at Fall Brewing Company
Thank you Robbie Matthews, Nick Edwards, Danielle Orozco Cosio, and Renee Ng for organizing!
Bits in Bio - Austin Texas Meetup - Thursday, December 5, 6:00 PM at Meanwhile Brewing
Thank you Kesav Varanasi and Brendan McKenna for organizing!
Building hardware for Biology - Monday, December 9, 7:00 PM at BioLabs Hôtel-Dieu Paris
Thank you Gustave Ronteix, Christophe Tallec, and Estelle Botbol for organizing!
📰 Top Community Conversations
Nothing noteworthy this week! Come back next week for more news from the Bits in Bio Slack.
🏢 New Job Openings
Notable postings below - over 100 more on our community job board!
Associate Director, Computational Biology/Toxicology at Merck
Digital Product Manager (Short-Term) at BioMade
Founding Scientist, Computational Discovery & ML at Axiom Labs
Head of Bioprocessing at Hoxton Farms
Machine Learning Research Scientist at Pfizer
Molecular Biology Specialist at Hoxton Farms
Post-Doctoral Fellow, Tsai Lab at Children's Hospital Los Angeles
Senior Scientist, Computational Chemistry at Novo Nordisk
🙋 🙏 Community Asks
Feedback: How is the Newsletter doing? We’re trying different formats/content. In case the hyperlink above didn’t get your attention, maybe a bright orange button will!
Volunteer: Want to get involved with Bits in Bio, meet new members across the community, and learn about the ecosystem? We are looking for volunteers to help us create great content and manage the community.
🙏 Thank you for being a BiB Weekly reader!
We want to deliver what matters most in Bio AI and would love your feedback on how we can do better. Please weigh in as anon here or DM me directly!