Recent Funding
Angitia Biopharmaceuticals (LA) Announces $120 Million Series C Financing
Led by Bain Capital Life Sciences with participation from new and existing investors, supporting the development of treatments for serious musculoskeletal diseases. Advancing three biologics in the clinic, including AGA2118 and AGA2115 (bispecific antibodies for osteoporosis and osteogenesis imperfecta) and AGA111 (spinal fusion). Dr. Norbert Riedel, a seasoned biopharma executive, joins the Board of Directors, bringing decades of industry expertise.
Recent Layoffs
Belharra Therapeutics (SD) Implements Workforce Reduction Amid Funding Challenges
San Diego-based Belharra Therapeutics is cutting 21 employees (40% of its workforce) to extend its cash runway and mitigate pressures from the current funding environment. Belharra’s non-covalent chemoproteomics platform remains operational, with ongoing early-stage immunology and oncology programs supported by collaborations with Genentech and Sanofi.
M&A, Deals, Partnerships
Candid Therapeutics (SD) Announces 3 Collaborations for T-Cell Engagers in Autoimmune Diseases
Candid Therapeutics has partnered with EpimAb Biotherapeutics, Nona Biosciences, and Ab Studio to advance its bispecific antibody pipeline for autoimmune diseases. Candid is repositioning CND106 and CND261, both clinical-stage T-cell engagers, to target autoimmune diseases. CEO Ken Song aims to rival existing autoimmune drugs like Humira and Rituxan, with safety data expected by 2025.
- EpimAb Deal: Valued at $1 billion in potential milestones and royalties.
- Nona Biosciences: Focused on new T-cell engagers; deal worth up to $320 million with milestones.
- Ab Studio: Supports antibody design and engineering; financial terms undisclosed
Other Interesting News
Boundless Bio (SD) Adjusts Strategy Amid Challenges in Public Market Debut
Boundless Bio is discontinuing its clinical-stage candidate BBI-825, an oral RNR inhibitor for colorectal cancer, after Phase 1/2 trial data showed issues with dose-proportional exposure and rising development complexities in the competitive BRAFV600E and KRASG12C cancer landscape. The company will focus on its CHK1 inhibitor BBI-355, which is in a Phase 1/2 trial for oncogene-amplified solid tumors, with proof-of-concept data expected in the second half of 2025. Preclinical progress on its ecDTx 3 program will lead to a development candidate nomination by mid-2025. Following its $100M IPO in March 2024, the company implemented “modest” layoffs over the summer due to enrollment delays in the BBI-355 trial, reducing its workforce by about 20%.
Genesis Therapeutics (SF) Expands Leadership Team, Eyes Growth in AI-Driven Drug Discovery
Shifeng Pan, Ph.D., joins as Chief Scientific Officer. Formerly at Novartis and Odyssey Therapeutics, Dr. Pan has over 20 years of experience and led the discovery of FDA-approved drugs such as ODOMZO®, BRAFTOVI®, and MAYZENT®. Alla Ivanova named SVP of Engineering, bringing 25+ years of tech leadership experience at Google Cloud, Atlassian, Uber, and Netflix. Paul A. Friedman, M.D., appointed Chairman of the Board. He brings extensive biotech leadership experience as the former CEO of Madrigal Pharmaceuticals and Incyte. The new leadership appointments follow Genesis’ Series B fundraising and collaboration with Gilead, fueling growth of its AI-powered GEMS platform for small molecule drug discovery. Genesis combines generative and predictive AI (including language models, diffusion models, and ML simulations) to design novel therapeutics, addressing complex and “historically undruggable” targets.
Xaira Therapeutics (SF) Expands Leadership Team, Relocates to Support AI-Driven Growth
Paulo Fontoura, M.D., Ph.D., appointed Chief Medical Officer (effective early 2025). Former Global Head at Roche, with experience leading 40+ molecules across neuroscience, immunology, ophthalmology, and rare diseases. Hetu Kamisetty, Ph.D., promoted to Chief Technology Officer. Co-founder of Xaira and former Meta AI leader, with expertise in generative AI for protein design and machine learning. Xaira is relocating to Gateway of Pacific III in South San Francisco to accommodate growth and support its mission of AI-enabled drug discovery. Xaira leverages generative AI and advanced biology to transform drug discovery, building on the pioneering work of David Baker, Xaira co-founder and recent Nobel Prize in Chemistry winner.
