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Scribe Therapeutics' Gene-Editing Tech Attracts Pharma Partners
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By Brian Gormley, WSJ Pro
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Good day. Drugmakers are doubling down on deals with genome-editing startup Scribe Therapeutics, which could earn more than $2 billion through its newly expanded collaboration with Sanofi.
Scribe, co-founded by Crispr pioneer and Nobel Laureate Jennifer Doudna, says its gene-editing technology enables a higher percentage of targeted cells to be edited, at lower doses, than was previously possible. That is drawing interest from companies seeking an edge in the race to devise new cell therapies and genetic medicines.
Through a deal last year, Sanofi gained access to Scribe technology to edit immune cells, known as natural killer cells, outside the body, to develop cancer treatments. Scribe collected $25 million in cash and may earn more than $1 billion more in success-based payments.
Sanofi and Scribe have expanded that alliance to include drugs for sickle cell and other genomic diseases. These treatments would edit cells inside the body. Scribe will take in $40 million more up front and may later secure more than $1.2 billion in success-based payments.
In addition, Scribe in May formed a collaboration with Prevail Therapeutics, an Eli Lilly subsidiary, to advance genetic medicines for neurological and neuromuscular disorders, and last year expanded its 2020 research pact with Biogen.
For Scribe, partnerships provide access to expertise and extend its reach beyond its internal drug discovery, said co-founder and Chief Executive Benjamin Oakes.
“The whole genome is our target and we can’t do it all ourselves,” he added.
And now on to the news ...
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Ozempic has inspired hot pursuits for the next big weight-loss product.
PHOTO: F. MARTIN RAMIN/THE WALL STREET JOURNAL
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Obesity drugs. The sudden popularity of drugs like Ozempic and Wegovy for weight loss created a multibillion-dollar market overnight. Healthcare companies want a piece of it, The Wall Street Journal reports.
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The weight-loss space is quickly maturing into a booming pharmaceutical segment like those for cancer and heart disease. Investors betting on the next breakthrough product and drugmakers are racing to test dozens of new therapies.
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Companies also are developing diagnostics that could better-match patients to drugs best suited for them. “It is almost as if a completely new disease area has been discovered that just happens to have 100 million people in it,” said Mark Bagnall, chief executive of Phenomix Sciences, a startup whose tests help doctors match patients to weight-loss drugs.
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With just a fraction of eligible people taking prescription drugs to lose weight, the field has room for more companies, analysts say.
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$1.925 Billion
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The amount drugmaker Eli Lilly agreed to pay to acquire Versanis Bio, a startup developing a treatment for obesity.
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FDA Approves First RSV Drug to Protect All Infants From Virus
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Parents have a new tool to protect their newborns from a common but potentially deadly respiratory virus that sends tens of thousands of babies to the hospital each year, WSJ reports. The Food and Drug Administration on Monday approved the first drug to protect all infants against respiratory syncytial virus. RSV is the leading cause of hospitalization of infants in the U.S., killing as many as 300 children under the age of 5 each year.
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U.S. VC Firms’ Deals in China Tech Investigated by Congress Panel
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A clutch of American venture-capital firms are being investigated by a congressional committee over their funding of Chinese tech companies—part of a push in Washington to scrutinize and potentially ban such deals, WSJ reports. The House’s select committee on the China threat this week notified GGV Capital, GSR Ventures, Walden International and Qualcomm Ventures—the investment arm of chip company Qualcomm—that the panel is examining many of their investments in Chinese companies involved in semiconductors, artificial intelligence and quantum computing.
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Sequoia Partner Michael Moritz to Leave Venture Firm After 38 Years
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Sequoia Capital partner Michael Moritz is leaving the venture-capital firm after nearly 38 years, marking the departure of one of its earliest and most successful investors, WSJ reports. Moritz will deepen his role as an adviser to Sequoia Heritage, an independent business that manages the wealth of many Sequoia partners and startup founders, according to a letter sent to limited partners Wednesday.
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Funds
Pure Ventures, an early-stage investor dedicated to founder mental health and wellness, closed on $20 million for its second fund. The firm also appointed Alicia Zeng as director of operations. She runs beauty ecommerce startup Lilac St., and previously worked at L. Fem Care, Google and McKinsey.
Wisdom Ventures, a venture firm focused on promoting mindfulness, compassion, well-being and human connection, closed its inaugural fund with $10 million in commitments. Since the fund’s initial $5 million close last year, the firm has invested in 15 startups.
People
Neuroscience drug development startup Neumora Therapeutics named Henry Gosebruch to the post of president and chief executive. He was most recently executive vice president and chief strategy officer at AbbVie.
COUR Pharmaceuticals, a developer of therapies designed to reprogram the immune system, appointed Dannielle Appelhans as chief operating officer. She was previously chief executive at Rubius Therapeutics.
Lab automation provider Opentrons Labworks appointed Gautam Prabhu as chief technology officer. He was most recently head of engineering at PagerDuty.
Jnana Therapeutics, a startup leveraging its chemoproteomics platform to discover medicines to treat diseases with high unmet needs, named George Vratsanos as chief medical officer and head of research and development. He was previously at Janssen Pharmaceuticals.
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Surge Therapeutics, a Cambridge, Mass.-based startup providing intraoperative immunotherapy to cancer patients, closed a $32 million Series B round. Bioluminescence Ventures led the investment, with Managing Partner Kouki Harasaki joining the company’s board.
VitalConnect, a San Jose, Calif.-based developer of remote and in-hospital wearable biosensor technology, raised over $30 million in Series F funding led by Revelation Partners.
Torch Dental, a New York-based digital ordering platform for dental practices, landed $28 million in Series B funding from investors including Bessemer Venture Partners.
SiPhox Health, a Burlington, Mass.-based at-home blood-testing technology provider, has raised $27 million in funding, including a $17 million Series A round led by Intel Capital, and a $10 million seed investment co-led by Khosla Ventures. Srini Ananth, managing director at Intel Capital, will join the board.
GenHealth.ai, a Boston-based artificial intelligence-powered healthcare startup, picked up $13 million in funding from investors including Obvious Ventures.
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EMIL LENDOF/THE WALL STREET JOURNAL
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