Third Rock Ventures’ Post

Looks like Kyverna Therapeutics has laid the foundations for the next major IPO of 2024. Here's a breakdown of how the $180 M will be utilized: • approximately $150.0 million to advance the clinical development of KYV-101, Kyverna's lead product candidate, in two broad areas of autoimmune disease: rheumatology and neurology, including completion of enrollment for our KYSA-1 Phase 1 trial, continued enrollment for our KYSA-3 Phase 1/2 trial, and initiating enrollment for KYSA-5, KYSA-6, and KYSA-7 clinical trials;    • approximately $20.0 million to advance KYV-201 through preclinical development and into clinical development; and    • the remainder to fund expenses associated with research and development and additional clinical development, and for general corporate purposes, working capital and capital expenditures. #cellandgenetherapy #biotechnology #cellandgenetherapies #ipo

A second Big Pharma company has just spent $18B on 2 acquisitions in the space of a week. 3 weeks ago, I posted about AbbVie's quickfire double acquisition of Cerevel and ImmunoGen and questioned whether we were done with Big Pharma M&A for 2023. With 5 days of the year to go, Bristol Myers Squibb pulled off a remarkably similar pair of deals, mirroring the cost ($18B), timeframe (<1 week) and therapeutic areas (Oncology + CNS) of AbbVie's efforts. First up was a $14B takeout of Schizophrenia drugmaker, Karuna Therapeutics. KarXT is a new type of antipsychotic medicine that has shown great promise in clinical trials so far, helping patients to reduce symptoms without the side effects (weight gain, tiredness etc.) typically associated with current treatments. A decision on its approval is expected by September this year and analysts are projecting KarXT to be a multi-billion dollar drug across several indications. 4 days later, BMS announced a $4.1B acquisition for the recently IPO'd Radiopharma company, RayzeBio. Radiopharmaceutical Therapeutics (RPTs) offer a differentiated precision approach to treating solid tumors and RayzeBio is a known leader in actinium-based RPTs with a very promising pipeline of programs coming through the clinic. Big Pharma competitors in the RPT space include Novartis and Lilly (following their recent $1.4B acquisition of Point Biopharma). It's been a fast start for BMS CEO, Chris Boerner, who only took the helm at the start of November 2023 - not long after his predecessor had announced a $5.8B deal for the commercial-stage targeted Oncology company, Mirati Therapeutics. BMS will be hit hard by the late-2020s patent cliff as they are set to lose exclusivity on three of their top drugs (Revlimid, Opdivo and Eliquis) before the end of the decade. Like other Big Pharma CEOs, Boerner has made transformative M&A a clear target to plug the impending revenue losses. Many analysts expect this M&A trend to continue in 2024. Let's see what #jpm2024 has in store for us this year... #mergersandacquisitions #bigpharma #oncology #neuroscience #radiopharmaceuticals

Lisa Ricciardi of Cognition Therapeutics, Inc., one of our Cowtown Angels portfolio companies, was recently featured in BioSpace talking about their trial candidate, CT1812, that prevents the binding of toxic oligomers to synapses in a neuroprotective approach that acts earlier in the amyloid cascade to slow cognitive decline and disease progression. Their Phase II trial is underway with 540 early-to-mild Alzheimer’s patients. Results from an earlier Phase II trial are expected mid-summer. Are you an accredited investor looking for quality investment opportunities from top emerging companies? Learn more about Cowtown Angels here: https://lnkd.in/eF8x7_VX

As we look ahead to 2024, one trend in biotech that's gaining momentum is the increased focus on CNS, neuroscience, and mental health by big pharmaceutical companies. What's particularly intriguing is the pivotal role small molecules are playing in this shift. Companies like Neumora Therapeutics and Karuna Therapeutics are at the forefront, leveraging the power of small molecules to unlock new treatments for complex conditions like major depressive disorder and schizophrenia. Neumora's Navacaprent, a selective kappa opioid receptor antagonist, and Karuna's KarXT, a muscarinic acetylcholine receptor agonist, are prime examples of how small molecules can be tailored to target specific neural pathways, offering new hope for patients and potentially transforming the landscape of CNS therapeutics. This focus not only highlights the versatility and potential of small molecules in addressing intricate CNS disorders but also underscores a broader commitment to advancing mental health treatments. As we move forward, it's clear that the understanding and application of small molecules will be a key driver in the next wave of CNS therapeutics. Let's keep an eye on this exciting frontier! #Biotech2024 #CNS #Neuroscience #MentalHealth #SmallMolecules #Innovation

Under the Spotlight - Sionna Therapeutics 🚨 Sionna Therapeutics have successfully raised $182 Million in Series C funding, enough to last through 2026 & more than double the number of Cystic Fibrosis treatments in clinical development. - (The round was led by Enavate Sciences) 👏 ➖ Michael Cloonan - (President & Chief Executive Officer) ➖ Charlotte McKee - (Chief Medical Officer) ➖ Elena Ridloff, CFA - (Chief Financial Officer & Head of Corporate Development) Based in Waltham, Sionna Therapeutics is a clinical-stage life sciences company dedicated to developing highly effective and differentiated treatments for cystic fibrosis by normalizing the function of CFTR, the key protein associated with disease progression in cystic fibrosis. The team at Sionna will now look to target market leader Vertex Pharmaceuticals in the cystic fibrosis space. #Elixir #Congratualtions #SeriesC #Funding #Biotech #CysticFibrosis #DrugDevelopment #Sionna #News #ClinicalDevelopment

The ADDF is pleased to announce it has invested in Coya Therapeutics, Inc. to support the Phase 2 trial of COYA 302 for frontotemporal dementia (#FTD). #Inflammation has emerged as a #novel target for chronic neurological diseases like #Alzheimers and FTD, and COYA 302 is a #combination drug that targets multiple inflammatory pathways. Developing #CombinationTherapy treatments guided by the #BiologyOfAging will be integral to slowing cognitive decline for complex diseases of aging like FTD. Learn more about the ADDF's investment here: https://bit.ly/3UQA0bH Howard Berman, PhD David S. Snyder

Check out this month's issue of Drug Development & Delivery....

Did you know that the VitalDose® Drug Delivery Platform offers months to years of sustained drug release? Learn more about our platform in the latest issue of Drug Development & Delivery!

Another big move in the muscarinic M4 field: #BMS to acquire #Karuna Therapeutics for $14 billion. This comes just days after the #Cerevel acquisition by #AbbVie for $8.7 billion. That's over $22 billion for M4 compounds!!! Activating muscarinic M4 receptors (by an agonist or Positive #allostericmodulator) has demonstrated efficacy to treat #schizophrenia and shows promise for other psychoses linked to neurodegenerative diseases. Our own #Addex in-house discovered M4 PAM program is rapidly progressing towards clinical trials, with highly differentiated compounds in late preclinical development, targeting the start of IND-enabling studies in H2 2024. https://bit.ly/3RXIIVq

🚀 Exciting News in Neurorestoration! Myrobalan Therapeutics Secures $24M in Series A Funding! 🌐💡 Thrilled to share that Myrobalan Therapeutics has successfully completed a $24 million Series A funding round led by Co-win Ventures! 🎉 This funding will propel the development of potentially groundbreaking CNS therapeutics targeting remyelination and anti-neuroinflammation. 🧠💊 🌟 Key Highlights: Series A Funding: $24 Million Leading Investors: Co-Win Ventures, Guan Zi Equity, 3E Bioventures, AB Magnitude Ventures Group Innovative Approach: Focused on Novel Mechanisms for CNS Repair Targeting Multiple Diseases: MS, Alzheimer’s, ALS, Rare Neurological Conditions 🔬 Myrobalan's Unique Position: Myrobalan is revolutionizing CNS drug development with highly selective compounds addressing challenging targets associated with demyelination and neuroinflammation. 🎯 The potential applications span across multiple debilitating conditions, offering hope for patients with unmet medical needs. #MyrobalanTherapeutics #Neurorestoration #SeriesAFunding #InnovationInHealthcare #CNSResearch #BiotechBreakthroughs