Recent Funding:
Tenvie Therapeutics (SF) Secures $200M to Advance Small Molecule Therapies for Neurological Diseases
Tenvie Therapeutics launches with $200 million in funding from ARCH Venture Partners, F-Prime Capital, and Mubadala Capital to accelerate its pipeline of small molecules for neurological, cardiometabolic, and ophthalmic diseases. Developing brain-penetrant and peripherally restricted small molecules targeting key disease drivers like inflammation, metabolic dysfunction, and lysosomal function. Lead programs include NLRP3 and SARM1 inhibitors, both in IND-enabling stages.
Kardigan (SD) Launches $300M with Focus on Cardiovascular Disease
Kardigan is a heart health company focused on developing multiple targeted treatments for cardiovascular diseases using its cutting-edge research platform. The company raised $300M in Series A funding led by Perceptive Advisors, ARCH Venture Partners, and Sequoia Heritage to advance its portfolio.
M&A, Deals, Partnerships:
Light Horse Therapeutics (San Diego) Enters $1B Strategic Collaboration with Novartis
Light Horse Therapeutics has partnered with Novartis to identify and develop first-in-class small molecule therapeutics using its genetic screening platform and proprietary chemical libraries. The deal includes a $25M upfront payment, with potential milestone payments totaling $1B, plus royalties on licensed products. Focused on advancing cancer treatments, the collaboration targets previously undruggable, high-value targets using Light Horse’s innovative platform.
Gilead Sciences and LEO Pharma Partner on STAT6 Inhibitors
Gilead Sciences and LEO Pharma have formed a strategic partnership to develop and commercialize small molecule oral STAT6 inhibitors, aimed at treating inflammatory diseases like atopic dermatitis, asthma, and COPD. Gilead will acquire LEO Pharma’s preclinical STAT6 inhibitors and lead further development of the oral programs, while LEO Pharma will focus on potential topical formulations. The deal includes a $250 million upfront payment, with the potential for LEO Pharma to earn up to $1.7 billion, plus royalties on sales of both oral and topical STAT6 products.
IPOs:
Maze Therapeutics (SF) Files for IPO
Maze Therapeutics has filed plans for an initial public offering, potentially becoming the first biotech IPO of 2025. The company has multiple programs in its pipeline, including MZE829, a small molecule targeting APOL1 kidney disease, which is in Phase 2 trials. Maze claims MZE829 could be more potent than Vertex’s drug, in Phase 3. Maze has raised almost $500M in private funding, with investors including Third Rock Ventures and Arch Venture Partners, and recently secured $115M in a Series D round.
Other Interesting News:
Velia Therapeutics (SD) Announces Wind Down
The San Diego-based biotech founded in 2021, is winding down its operations while staying committed to the potential of its microprotein discovery platform. Despite strong leadership, including former Gilead R&D head John McHutchison as CEO, and backing from The Column Group and Foresite Capital, the company is discontinuing operations due to strategic reasons, not a lack of scientific progress. Velia had focused on auto-immunity and oncology with ambitions to expand, but details on its pipeline remain limited. The company remains optimistic about the future impact of its scientific work.
