Partnology

In this weeks Biotech Leader Spotlight Series we are recognizing Jian Zuo, Cofounder and CEO of Ting Therapeutics - check out his interview to learn more about their innovative hearing loss solutions! Jian Zuo is Co-founder and CEO of Ting Therapeutics, a biotech startup developing therapeutics to prevent and treat #hearing loss. Previously, Jian Zuo was Professor and Chair of #Biomedical Sciences at Creighton University School of Medicine. He received his Bachelor’s degree in #Bioengineering from Huazhong University of Science and Technology, China; and a PhD in Physiology from the University of California, San Francisco. He joined the faculty at the Department of Developmental #Neurobiology at St. Jude Children's Research Hospital in 1998. His primary research interests included mouse #genetics and mouse models that illustrate mechanisms of hair cell regeneration to restore hearing, and screening compound derivatives to preserve or restore hearing in #preclinical models. He has been a member of the ARO since 1998 and has received the Bellucci Prize in Hearing Research in 2004. #biotech #biotechnology #biopharma #pharmaceuticals #hearingloss #genetherapy #therapeutics #biotechleader #biotechexecutive

Recent Funding: ARCH Venture Partners has raised over $3 billion for its 13th #biotech fund, continuing to back high-risk, innovative science, including #AI-driven biotech companies. Despite a challenging biotech investment climate, Arch remains one of the most active investors, having supported more than a dozen startups in 2024 alone. The firm emphasizes pairing cutting-edge science with strong executive leadership. 858 Therapeutics (San Diego) has announced a $50 million Series B funding round led by Avidity Partners, with participation from Insight Partners, Mirae Asset Capital Life Science, and Alexandria Venture Investments. This financing highlights the company’s progress and the strength of its management team, with plans to advance its pipeline of small molecule #therapeutics. Monal Mehta, PhD, Managing Director at Avidity Partners, will join the company’s Board of Directors. IPOs: BioAge Labs (SF) raised $198 million in its initial public offering, marking the company’s shift from focusing on age-related diseases to #obesity treatment. BioAge is developing a drug called Azelaprag to be used alongside GLP-1 agonists like Zepbound and Wegovy, addressing muscle mass loss associated with rapid weight loss. This #IPO follows a $170 million crossover round earlier in the year, positioning BioAge to compete in the growing obesity drug market. FDA Approvals: Bristol Myers Squibb has secured #FDA approval for Cobenfy, an #antipsychotic developed by Karuna Therapeutics to treat #schizophrenia. Unlike existing drugs, Cobenfy activates muscarinic receptors, reducing schizophrenia symptoms without causing significant weight gain or movement disorders. Priced at $22,500 annually, Bristol Myers is engaging Medicaid and Medicare for coverage, as most schizophrenia patients rely on these programs. Analysts expect Cobenfy to generate $3 billion in sales by 2030. The FDA has approved Dupixent, a #biologic drug developed by Regeneron and Sanofi, as an add-on treatment for a specific type of chronic obstructive pulmonary disease (#COPD). This approval makes Dupixent the first biologic available in the U.S. for COPD, potentially benefiting 300,000 patients. Dupixent’s approval is expected to boost its already strong sales, which reached nearly $12 billion in 2023, despite the emergence of competition from GSK, Roche, and AstraZeneca. Other Interesting News: Acadia Pharmaceuticals Inc. (San Diego) brings Bristol Myers Squibb vet on board as CEO. As the biotech approaches $1 billion in sales, Acadia CEO Steve Davis is stepping down and being succeeded by Catherine Owen Adams. Owen Adams most recently led a $20 billion business as SVP and GM, U.S., at Bristol Myers Squibb.

In this weeks Biotech Leader Spotlight Series we're recognizing Courtney Young, Cofounder and CEO of MyoGene Bio. Check out her interview to learn more about her all-female founded company! Courtney Young is the CEO and Co-founder of MyoGene Bio, a biotech company developing a gene editing therapy, MyoDys45-55, for Duchenne muscular dystrophy (#DMD), a devastating muscle wasting disease. Dr. Young developed the gene editing approach that is the basis of MyoDys45-55 during her Ph.D. and postdoc in the Spencer and Pyle labs at UCLA. Her experience in muscle biology and diseases has spanned both academia and industry across the world. She has worked extensively in muscular dystrophy, stem cell therapy, and gene editing. Dr. Young graduated with a B.S. in Chemical and Biomolecular Engineering from The Johns Hopkins University, a Master of Research in Biomedicine from University College London, and a Ph.D. in Molecular Biology from UCLA. #womeninbio #womeninscience #femalefounders #biotechleaders #biotechstartup #biotech #biotechnology #biopharma #therapeutics #drugdevelopment #musculardystrophy #pharmaceuticals

Partnology had a great day meeting with biotech founders at Connect's Innovation Day at PETCO Park! This event truly highlights San Diego's supportive biotech community. In keeping with that spirit we want to highlight some of the companies we found most exciting. Check out their pages below: Venquis Therapeutics f5 Therapeutics Incorporated iNFixion Bioscience, Inc. Abterra Biosciences Palm Therapeutics Papillon Therapeutics #biotech #biotechnology #therapeutics #biotechstartups #IDSD24 #connect #biopharma #pharmaceuticals #innovation

Recent Funding: Nura Bio (SF) raised $68 million in Series A financing to advance its work on treatments for #neurodegenerative diseases. Nura Bio plans to advance its lead drug candidate targeting SARM1, an enzyme involved in nerve cell degeneration in neurodegenerative diseases. The funding will accelerate development toward clinical trials for conditions like #ALS and multiple sclerosis. The round was led by new investor Sanofi Ventures and included contributions from existing investors The Column Group, Samsara BioCapital, and Euclidean Capital Management. Shilpa Sambashivan, a cofounder and its chief scientist, will take over as its CEO and lead efforts to push its first drug program deeper into clinical testing. M&A, Deals, Partnerships: Roivant Sciences has struck another deal to sell one of its “vants.” This time around, the #dermatology focused Dermavant Sciences (Long Beach, CA) will head to Organon in a deal valued up to $1.2 billion. The sale of Dermavant clears the way for Roivant to focus on #autoimmune-focused Immunovant and a slate of upcoming pivotal trials. Organon will be the new owner of Vtama, a non-steroidal topical therapy for plaque #psoriasis that was approved in 2022. The cream is also currently under FDA review for atopic #dermatitis, with a decision expected before the end of the year. Novartis plans to invest over 40 million to establish a #radioligland therapy manufacturing facility in Carlsbad, CA. This new 10,000-square-foot site is part of a larger $200 million effort to bolster the company’s #radiotherapy infrastructure and is expected to create more than 30 local jobs. Radioligand therapy targets #cancer cells while minimizing damage to healthy tissue. This facility will be Novartis' first U.S. manufacturing site in California. FDA Approvals: Novartis' cancer drug Kisqali has received FDA approval for use in patients with HR+/HER2- early-stage breast cancer at high risk of recurrence. The approval follows results from the NATALEE trial, where Kisqali, combined with #endocrine therapy, reduced the risk of #cancer returning by 25%. The drug is already approved for metastatic breast cancer, and this new approval marks a significant development in early breast cancer treatment strategies. Other Interesting News: Federal Reserve lowered interest rates in the biotech sector for the first time in more than four years. While the Fed’s target, at 4.75% to 5%, remains near 15-year highs, the move could spur investment in #biotech companies, which are typically seen as the kind of risky bet investors tend to disfavor when interest rates are elevated. Still, the Fed’s new rate trajectory isn’t a cure-all. Rates remain much higher than they were when biotech markets peaked early in the pandemic. The industry is still feeling the after-effects of a record number of IPOs in 2020 and 2021. Investors have been more selective since, leading to a slower-than-average IPO pace over the past three years.

The Partnology Research Team wants to hear from our Linkedin community! We've been brainstorming ideas for our next research article and would love your feedback. Which topic would you be most interested in reading about? Here’s a list of potential topics: Current/Future of Biotech Funding Market: Insights on trends and strategies for securing venture capital in the evolving biotech landscape. Early-Stage Biotech: De-risking for Investors: How early-stage biotech companies can structure themselves to minimize risk and attract capital. Emerging Therapeutic Areas for Investment: Highlighting key disease areas, such as autoimmune or rare diseases, that are ripe for innovation and investment. The Importance of Talent in Biotech Growth: Insights into the hiring trends, key roles, and talent strategies that drive innovation. Cast your votes below OR share an idea in the comments below! _____ #biotech #biotechnology #biotechexecs #biopharma #pharmaceuticals #biotechinvestment #therapeutics #drugdevelopment #biotechresearch #clinicaldevelopment #biotechfundingmarket #sandiegobiotechs

Congratulations Christopher Whitmore on joining Ray Therapeutics, Inc. as CFO! We are thrilled to have partnered with you through this important process and are excited to see the great things that lie ahead for Ray Therapeutics, Inc. with Christopher Whitmore on board!

To celebrate achieving our #goals for H1 2024 the Partnology Team recently took a weekend trip to Mexico City! #workhardplayhard We enjoyed a sunrise hot air balloon ride over the Mayan temples, a historical tour of the ruins, we had breakfast inside a cave, went shopping, explored art galleries, ate dinner at a fabulous Michelin star restaurant (which included grasshoppers 😂 ), and happened to secure free tickets to a Floyd Mayweather exhibition match! _____ John McIntyre Ellie Laidlaw Meghan Medrick #Mike #teambonding #mexicocity #biotech #biotechnology #biopharma #buildingbiotechs #clinicaldevelopment #therapeutics

Recent Funding: The TL Fund, a regional accelerator investment fund unique to San Diego, announced its first investments into four local companies. Two of which are biotech start ups Papillon Therapeutics and Resolute Science - each receiving $100,000 in investment. This fund aims to reinvest returns into the local community to foster economic growth in San Diego. M&A, Deals, Partnerships: Gilead Sciences and Genesis Therapeutics (San Diego) announce strategic collaboration to discover and develop novel therapies. Genesis' #AI platform, GEMS (Genesis Exploration of Molecular Space), will be used by Gilead to identify and optimize molecules, indicating potential innovation in drug discovery. The collaboration involves #preclinical research, with Gilead gaining exclusive rights for clinical development and commercialization. Eli Lilly and Company sells Life Science Studio lab to Arctoris, a company specializing in automation platforms for drug discovery. Arctoris plans to move the lab from Oxford, UK, to San Diego, CA. The deal is part of Eli Lilly's strategy to streamline its operations and focus on core areas of its business. IPOs: Three biotechs: Bicara Therapeutics (MA), Zenas BioPharma (MA), and MBX Biosciences, Inc. (IN) — recently raised a combined $700 million through IPOs. Bicara raised $315 million, Zenas $225 million, and MBX $163 million. The IPOs reflect renewed investor interest in biotech following a market slowdown. Recent Layoffs: Oncternal Therapeutics (San Diego) is laying off 37% of its workforce as it explores strategic alternatives such as asset sales or mergers. Salim Yazji will be out as CMO as of Oct. 1. Cidara Therapeutics (San Diego) plans restructuring, including layoffs impacting 30% of their workforce. The company plans to prioritize the development and expected clinical trials of CD388, a long-acting antiviral aimed at treating influenza. Charles River Laboratories (Thousand Oaks) is laying off 3% of their workforce, which equates to roughly 642 people. The cut is following a 3.2% revenue decline in Q2 2024, amounting to $1.03 billion. The layoffs are part of broader cost-cutting efforts to address reduced demand for early-stage R&D services, particularly for research models used in drug development. FDA Approvals: FDA approves a version of Roche's #cancer #immunotherapy Tecentriq. The clearance makes Tecentriq Hybreza the first checkpoint inhibitor available via a subcutaneous injection for non-small cell lung cancer, beating competing programs from Merck and Bristol Myers Squibb. Other News: Kyverna Therapeutics has undergone a major leadership change, with Peter Maag resigning as CEO just 7 months after a high-profile IPO. The company has appointed Warner Biddle as the new CEO and added former Kite CEO Christi Shaw to the board. This shake-up comes amid a significant 76% drop in Kyverna’s stock price and an increasingly competitive landscape in #autoimmune cell therapies.

During our Partnology Sunset Cruise event we asked guests to take Polaroid pictures and put them into a box to be entered into our charity donation raffle. The winner of our raffle is Jennifer Boyden !! As the winner, Partnology has made a $500 donation to the charity of her choice - The Andrew McDonough B+ Foundation - the largest provider of financial assistance to families of kids with #cancer in the US! ______ #oncology #clinicaldevelopment #biotech #biotechnology #biopharma #therapeutics #drugdiscovery #pharmaceuticals