Unlock this story instantly and join 91,500+ biopharma pros reading Endpoints daily — and it's free. “Since the introduction of Gleevec, it’s always been about kinases,” Bakker told Endpoints News, referring to the best-selling Novartis drug, first approved in 2001. Now, they’ve an­nounced an over­sub­scribed $95 mil­lion Se­ries B. Please note the magic link is one-time use only and expires after 24 hours. Back in 2017, in the wake of back-to-back setbacks and a reorganization, a struggling little biotech named Endocyte completed a $12 million licensing deal that would ultimately put it on a path toward a $2.1 billion buyout. The company is currently focused on finding new small molecule binding sites — which may affect protein degradation, inhibition or both — to drug the undruggable. Illinois-based AveXis is a clinical-stage gene therapy company, developing novel treatments for patients suffering from rare neurological genetic diseases. But Jeroen Bekaert, Ivan Dimov and Nate Fernhoff saw potential there. The idea was to tap in­to a line of AAV9 vec­tor gene ther­a­pies that were be­ing de­vel­oped at UT South­west­ern, par­tic­u­lar­ly from the labs of Steven Gray and Berge Mi­nass­ian. Please note this link is one-time use only and is valid for only 24 hours. They li­censed 15 gene ther­a­pies in epilep­sy, neu­rode­vel­op­ment and neu­rode­gen­er­a­tive dis­or­ders, with an op­tion to li­cense 4 more. Biotechs, in­clud­ing those rel­a­tive­ly fresh off launch, have been go­ing pub­lic at a fren­zy since the pan­dem­ic be­gan. The biotech would take a port­fo­lio ap­proach to gene ther­a­py, akin to the one pur­sued by Bridge­Bio (where Ses­sion had been CBO of gene ther­a­py). A year after receiving its first grant from Boston University’s CARB-X partnership, Swiss biotech Polyphor is back for more. Novo Seeds’ Jeroen Bakker thinks he’s found the next kinases. Still, if Taysha were to go pub­lic in the near fu­ture, it would be per­haps the short­est path from launch to IPO in re­cent biotech mem­o­ry. The grant includes $2.62 million for Polyphor’s “hit-to-lead” stage and $15.82 million in milestones. In­vestors have showed a will­ing­ness to put up­wards of $200 mil­lion to com­pa­nies that have yet to bring a drug in­to the clin­ic. Unlock this article along with other benefits by subscribing to one of our paid plans. The company issued 4,300,000 shares at $19.00-$21.00 per share. AveXis Incorporated expects to raise $76.5 million in its upcoming IPO. “But we’ve forgotten that phosphotases are also important.”. Lead … That round — which also added deep-pocket player ARCH to the list of backers — came up with $77 million for the next step in the long journey toward the clinic, a nice add to the A round that launched the company. Gene ther­a­py tri­als, of course, can cost a fair bit of cash. As it turned out, Versant Ventures was also eyeing that very same drug out of Germany: PSMA-617, a radioligand therapeutic for castration-resistant prostate cancer. Goldman Sachs and Jefferies acted as the underwriters for the IPO and BMO Capital Markets and Chardan were co-managers. This article is exclusive for subscribers. The early stage, European VC firm announced yesterday they led a $9 million seed round for Rappta Therapeutics, a Finnish biotech developing inhibitors for an enzyme called PP2A — protein phosphatase 2 — that Bakker thinks now hold the same kind of drug targeting potential as kinases did two decades ago for cancer. Cedilla Therapeutics launched just over two years ago with a $56 million Series A and a plan to chart new territory in the protein degradation space. “We actually put a term sheet out on that asset because we just thought the efficacy data were so profound there,” managing director Jerel Davis told Endpoints News, referring to a drug that registered a progression-free survival rate of 7.6 months among PSMA-positive patients, with one cohort hitting an overall survival rate of 13.5 months. The old AveX­is team is mov­ing quick­ly in Dal­las. Novartis — then Sandoz — had purchased Weissman’s spinout SyStemix in the ’90s, then scrapped it due to practical challenges. Risks include a novel technology, early stage, and intense competition. De­spite the pan­dem­ic, the com­pa­ny said they are still on track for that plan. Orca, one of this year’s Endpoints 11 startups, was founded by three entrepreneurs who were intrigued by Irv Weissman’s cell purification work while studying at Stanford. The old AveXis team is moving quickly in Dallas. Less than 3 months af­ter launch, the AveX­is crew’s Taysha rais­es $95M Se­ries B. A few months after its last big catch — a $192 million Series D and rare unicorn status — Orca Bio has reeled in the FDA’s regenerative medicine advanced therapy (RMAT) designation for its experimental cell therapy to treat blood stem cell transplant patients.

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