Partnology

In this weeks #MeetThePartners video Partnology Cofounder, John McIntyre, discusses our biotech investment side of the business: Stay tuned for more videos as we share stories from our #leaders, our philosophy on building impactful #partnerships, and how we help #biotech companies navigate complex challenges. 👉 Follow us for updates and join the conversation, and don't forget to check out our new website www.partnology.com for more info! #Biotechnology #Biopharma #ExecutiveSearch #BiotechInvestment

📣 Check out www.partnology.com for more market updates! Recent Funding: Tempero Bio secured $70M in Series B funding, led by 8VC, Aditum Bio, and Khosla Ventures, to support Phase 2 trials of TMP-301 for alcohol and cocaine use disorders, with results expected by late 2025 and mid-2026, respectively. TMP-301, a next-generation mGluR5 inhibitor, aims to regulate brain reward pathways to reduce cravings and heavy substance use, positioning Tempero as a leader in #addiction treatment amid growing #pharma interest. Recent Layoffs: Following disappointing Phase 2 results for its lead CAR-T therapy firi-cel, CARGO Therapeutics is cutting 90% of its workforce, shelving all R&D programs, and exploring strategic alternatives, including a reverse merger or business combination. The biotech, which had $368M in cash at the end of 2024, will discontinue further development of CRG-023 despite receiving regulatory clearance for clinical testing. The U.S. Department of Health and Human Services (HHS) unexpectedly ordered Vaxart, Inc. to stop work on its Phase 2b trial of an oral COVID-19 #vaccine, despite prior funding commitments of up to $456M from BARDA and NIAID. With no reason provided for the directive, Vaxart laid off 10% of its workforce while continuing follow-up activities for the 400-patient cohort in the study. The company awaits a final decision within 90 days. M&A, Deals, Partnerships: Sanofi is acquiring Dren Bio, Inc.’s bispecific myeloid cell engager, DR-0201, for $600M upfront, with up to $1.3B in additional milestone payments. The therapy aims to “reset” the #immune system by depleting disease-causing B cells and is currently in Phase 1 testing. This deal strengthens Sanofi’s #autoimmune pipeline, aligning with a broader industry trend toward immune system reset therapies. Dren Bio will continue advancing its #oncology programs in collaboration with Pfizer and Novartis. FDA Approvals:. Novartis' Fabhalta gains FDA approval for C3 Glomerulopathy. Fabhalta, the first drug approved for C3 glomerulopathy (#C3G), demonstrated a 35% reduction in proteinuria at six months in a Phase 3 study, with sustained benefits at one year. Novartis continues expanding its kidney disease portfolio. Alnylam Pharmaceuticals’ Amvuttra, already approved for a nerve-related form of transthyretin amyloidosis (#ATTR), is now cleared for ATTR #cardiomyopathy, reducing the risk of recurrent #cardiovascular events or death by 28% in trials. Other Interesting News: NIH plans to cap indirect research cost reimbursements at 15%, cutting approximately $4 billion in annual funding, prompting hiring freezes at Stanford University, UC, and Harvard University, and potential layoffs in New York’s 17 medical schools. Researchers warn of long-term disruptions to #innovation, with halted projects, fewer PhD student slots, and concerns over a "brain drain" as talent may move overseas for better opportunities.

In this weeks Biotech Leader Spotlight we are recognizing Ugur Eskiocak, CEO of Voro Therapeutics! Check out his interview: Dr. Ugur Eskiocak is a #cancer #biologist and #biotech entrepreneur with extensive expertise in immuno-oncology, drug development, and translational sciences. He is the CEO & Co-Founder of Voro Therapeutics, where he leads the development of tumor-activated multi-specific antibodies (PrimeBody) to enhance cancer #immunotherapy. Previously, he was an Entrepreneur in Residence at Alloy Therapeutics, Inc., supporting biotech startups and advancing drug discovery. His industry experience includes leadership roles at Janux Therapeutics, Takeda, Xilio Therapeutics, Inc., and Compass Therapeutics Inc., where he directed translational and in vivo #pharmacology programs, contributing to IND-enabling studies and Phase 1 clinical trials. Dr. Eskiocak began his career in academia, conducting postdoctoral research at UT Southwestern Medical Center, where his work on #melanoma metastasis led to a Phase 1b clinical trial. He earned his Ph.D. in Cancer Biology from UT Southwestern and holds a Master’s and Bachelor’s degree in Molecular Biology and Genetics from Orta Doğu Teknik Üniversitesi / Middle East Technical University. Check out www.partnology.com for more biotech leader spotlights! #biotech #biopharma #clinicaldevelopment #drugdevelopment #biotechleaders #biotechexecutives #therapeutics #biotechnology

In this weeks #MeetThePartners video Partnology Cofounder, Ellie Laidlaw, explains what led her to establish Partnology: Stay tuned for more videos as we share stories from our #leaders, our philosophy on building impactful #partnerships, and how we help #biotech companies navigate complex challenges. 👉 Follow us for updates and join the conversation, and don't forget to check out our new website www.partnology.com for more info! #Biotechnology #Biopharma #ExecutiveSearch #BiotechInvestment

Check out www.partnology.com for more market updates! Recent Funding: Montara Therapeutics, Inc. raised an additional $20M, bringing its total seed funding to $28M, to advance its preclinical #CNS pipeline, including an #epilepsy candidate and a #neurodegenerative program. The biotech's BrainOnly platform aims to improve drug safety by preventing side effects outside the brain, with plans for an IND submission within 12 months and a potential strategic partnership before a Series A raise in 2026. Vivace Therapeutics, Inc. secured $35M Series D led by RA Capital Management to support the development of VT3989, a first-in-class TEAD autopalmitoylation inhibitor targeting the Hippo pathway for mesothelioma. VT3989 has shown promising efficacy and safety in Phase 1 trials, with plans to advance into a registrational Phase 3 study following FDA discussions later this year. Latigo Biotherapeutics, Inc. secured a $150M Series B led by Blue Owl Capital to fund its NaV1.8-targeting pain therapies, including lead candidate LTG-001, currently in Phase 2 trials for acute pain. The funding extends Latigo’s cash runway through key readouts, including Phase 3 data for LTG-001 and proof-of-concept results for its chronic #pain candidate LTG-305. Recent Layoffs: Sutro Biopharma, Inc. cuts 50% of workforce and is deprioritizing its lead ADC candidate, luveltamab tazevibulin (luvelta), and exiting its San Carlos manufacturing facility to extend its cash runway into late 2026. The company to pivot toward next-gen #ADC programs, with plans to file three INDs over the next three years, starting with an exatecan tissue factor ADC for solid tumors. M&A, Deals, Partnerships Ionis Pharmaceuticals, Inc. licenses #RNA drug for polycythemia vera to Ono for Up to $940M. Ionis will receive $280M upfront and up to $660M in milestone payments from ONO PHARMACEUTICAL CO., LTD. for sapablursen, an RNA-targeting therapy in Phase 2 trials for polycythemia vera. Viking Therapeutics, Inc. will prepay CordenPharma $150M to secure large-scale production capacity for its obesity drug VK2735, including 200M injectable and 1B oral doses annually. The agreement supports late-stage testing and potential commercialization. Other Interesting News: Orca Bio reports positive Phase 3 results for Orca-T in blood cancers. Orca-T met its primary endpoint, showing a 78% survival free of moderate-to-severe chronic graft-versus-host disease (cGvHD) vs. 38% with standard stem cell transplant, with a 94% overall survival rate at one year. Avidity Biosciences, Inc. shares Phase 1/2 results for delpacibart zotadirsen (del-zota). Most adverse events were mild to moderate, easing prior concerns over anaphylaxis and infusion-related reactions that led to early trial dropouts.

In this weeks #MeetThePartners video Partnology Cofounder, John McIntyre, explains how we live our values at Partnology: Stay tuned for more videos as we share stories from our leaders, our philosophy on building impactful partnerships, and how we help hashtag #biotech companies navigate complex challenges. 👉 Follow us for updates and join the conversation, and don't forget to check out our new website www.partnology.com for more info! #Biotechnology #Biopharma #ExecutiveSearch #BiotechInvestment

Check out www.partnology.com for more market updates! Recent Funding: Frazier Life Sciences is raising FLS XII, a new venture fund, following its $987M FLS XI fund in 2022; New Mexico State Investment Council has committed up to $50M. The firm historically allocates 43% of its funds to company creation and prefers 40%+ ownership in startups, backing repeat entrepreneurs in over 60% of deals. Recent Layoffs: Atara Biotherapeutics is laying off about 50% of its employees following the FDA’s clinical hold on trials for its allogeneic T-cell #immunotherapy Ebvallo and CAR-T candidate ATA3219. The layoffs, costing approximately $3 million, are expected to be completed by June. ALX Oncology is reducing its workforce by 30% to prioritize resources for trials of its CD47 blocker, evorpacept, currently in Phase 2 for advanced head and neck squamous cell #carcinoma. The company also plans to seek FDA approval for a new antibody-drug conjugate, ALX2004. The layoffs are expected to extend ALX’s cash runway into late 2026. Other Interesting News: Kardigan, a $300M biotech startup led by former MyoKardia executives, has unveiled tonlamarsen, an antisense medicine for uncontrolled hypertension, acquired from Ionis Pharmaceuticals. The drug is now in a Phase 2 trial comparing a monthly subcutaneous dose to placebo in 700 patients, with results expected in 2027. Protagonist Therapeutics and Takeda’s Rusfertide met its Phase 3 trial goals by significantly reducing the need for phlebotomy in patients with polycythemia vera, a rare blood disorder. With positive results, the companies plan to submit findings to regulators. Protagonist is set to receive a $25M milestone payment from Takeda. Arcturus Therapeutics stated it is “highly unlikely” that its $63M BARDA contract for its self-amplifying mRNA bird flu vaccine, LUNAR-H5N1, will be revoked, despite reports of Moderna’s funding being reevaluated. The company’s Phase 1 trial, which began in December with 200 participants, remains on track for an interim readout in the second half of 2025, and Arcturus emphasized its continued collaboration with BARDA and CSL in pandemic preparedness efforts. Denali Therapeutics' ALS drug, DNL343, failed to show a treatment effect in a Phase 2/3 trial, showing no improvement in slowing disease progression or secondary outcomes like muscle strength and respiratory function. Despite halting the trial's extension arm, Denali plans to explore future development opportunities for DNL343 but remains focused on its enzyme replacement therapy for Hunter syndrome, tividenofusp alfa (DNL310). Arrowhead Pharmaceuticals’ RNA interference (RNAi) candidate, ARO-C3, was well tolerated in 14 patients with IgA nephropathy (IgAN), with no severe treatment emergent adverse events. ARO-C3 achieved an over 87% mean sustained reduction in complement component 3 (C3) and a 41% reduction in proteinuria, suggesting potential benefits in complement-mediated renal disease.

At Partnology, we believe in the power of alignment and forward thinking. Our recent Vision Day was an incredible opportunity to come together as a team, reflect on our progress, and #strategize for the future. By honing our mission and refining our approach, we’re ensuring that we continue to deliver exceptional value to our clients and partners. Here’s to growth, innovation, and the journey ahead! Visit our website www.partnology.com to learn more! John McIntyre Ellie Laidlaw Meghan Medrick Jenny H. #Partnology #VisionDay #GrowthMindset #Biotech #ExecutiveSearch

Check out www.partnology.com for more Biotech Market Updates! Recent Funding: Eikon Therapeutics closes $351M Series D to advance pivotal-stage #oncology pipeline, bringing its total private funding to over $1.1B. Investors include Lux Capital, T. Rowe Price, and UC Investments Inc. Lead program EIK1001, a TLR7/8 co-agonist, is in Phase III for advanced #melanoma, with additional PARP1 inhibitors and androgen receptor antagonists in early-stage development. M&A, Deals, Partnerships: Eli Lilly and Company acquired Organovo Holdings, Inc.’s FXR program, including lead candidate FXR314, an oral small molecule in Phase 2/3 for inflammatory bowel disease (#IBD), for up to $50M. Organovo receives $9M upfront, $1M after 15 months, and potential milestone payments. FXR agonists have faced regulatory challenges, but FXR314 may have applications in #metabolic diseases and #oncology. BridGene Biosciences, Inc. secures $46M in collaboration with Takeda to develop small molecules targeting challenging #immunology and #neurology conditions, with up to $770 million in potential milestones. BridGene will leverage its IMTAC platform to identify and develop small molecules, with Takeda holding exclusive commercialization rights. IPOs: BridgeBio Oncology Therapeutics (BBOT), a cancer-focused spinout from BridgeBio Pharma, will merge with SPAC Helix Acquisition Corp., securing ~$450M to advance its pipeline. The company has three #oncology drugs in early-stage development, including two KRAS-targeting therapies and a PI3Ka-RAS inhibitor for solid tumors.

In this weeks #MeetThePartners video Partnology Cofounder, Ellie Laidlaw, explains what shaped her vision for Partnology: Stay tuned for more videos as we share stories from our leaders, our philosophy on building impactful partnerships, and how we help #biotech companies navigate complex challenges. 👉 Follow us for updates and join the conversation! And don't forget to check out our new website: www.partnology.com #Biotechnology #Biopharma #ExecutiveSearch #BiotechInvestment