Atlas Venture is an early-stage venture capital firm that creates and invests in biotech startup companies led by promising entrepreneurs focusing on life sciences innovation. Its seed-led venture creation strategy rigorously selects and focuses investment on compelling opportunities to build scalable businesses and realize value.

Atlas Venture

MPH is the venture capital arm of Mitsubishi Tanabe Pharma Corporation (MTPC). MPH invests in innovative companies developing novel therapeutics, platform technologies, and vaccines.

MP Healthcare Venture Management

Merck Ventures is the strategic, corporate venture capital arm of Merck. Its mandate is to invest in innovative technologies and products with the potential to significantly impact Merck‘s core business areas. From its headquarters in Amsterdam and offices in the US and Israel we invest globally in transformational ideas driven by great entrepreneurs. Merck Ventures takes an active role in its portfolio companies and teams up with entrepreneurs and co-investors to translate innovation towards commercial success. Merck Ventures has a significant focus on early-stage investing and company creation including the creation of spin-offs to leverage Merck‘s science and technology base.

M Ventures

TVM Capital is a global venture and growth capital firm that aims to finance select biopharmaceutical and medical device companies. TVM Capital was founded in 1983 and is based Munich, Bavaria.

TVM Capital

Novo A/S is a Danish private limited liability company wholly owned by the Novo Nordisk Foundation, and the holding company of the Novo Group and as such the majority shareholder in the publicly listed companies Novo Nordisk A/S and Novozymes A/S.  Novo A/S was established in 1999 prior to the demerger of Novo Nordisk A/S, where Novozymes A/S was established as a stand-alone publicly listed company. Novo's purpose and objectives are to manage the Foundation's financial assets and to ensure the Foundation sufficient dividends to cover its grant obligations for medical and scientific research etc. in Scandinavia.  Novo A/S attains these objectives through: compliance with the rules and principles which are set out in the Articles of Association of the Novo Nordisk Foundation regarding exercise of the voting rights of A and B shares in Novo Nordisk A/S and Novozymes A/S, respectively,  assurance that all companies in which the company has a material influence actively contribute to the development of the Novo Group and operate their business in accordance with the visions and values of the Novo Group,  maintenance of a material influence on Novo Nordisk A/S and Novozymes A/S, and  investment and financing business including placing of capital in companies and real property domestically and abroad.  Novoâ€™s overall investment strategy is thus to maintain ownership of Novo Nordiskâ€™ and Novozymesâ€™ shares at a level just above 25% and to invest dividends from these companies and other income in the life science area as well as in a broad portfolio of financial assets.  Novo A/S has since 1999 established itself as an international venture capital partner in the life science area and has invested in over 50 companies in Denmark, Europe and North America.   Through its financial investment activities Novo A/S seeks to spread the companyâ€™s total financial risk and at the same time to ensure a high return taking into consideration the chosen risk profile.   In 2007 Novo A/S together with the Novo Nordisk Foundation established â€˜Novo Seedsâ€™. The new program (split into two sub-programs) is aimed at supporting early stage applied research in the life science area in Scandinavia.   At the beginning of 2009 Novo A/S launched a new initiative, investing 'growth equity' into promising later stage/commercial stage life science companies.   Novo A/S represents the interests of the Novo Nordisk Foundation through participation on the boards of the companies in the Novo Group.  The companies in the Novo Group are members of a 'family of companies', independently managed, but sharing a set of common values as set out in the 'Charter for Companies in the Novo Group'. In the Charter these core values, commitments and management principles that companies in the Novo Group should live up to are described.

Novo Ventures

Aescap Venture is an Amsterdam-based investment company that pursues investments in biotech companies in Europe and the U.S.

Aescap Venture

Novo Holdings is a holding company specializing in life science investors with a focus on creating long-term value.

Novo Holdings

SR One is the corporate venture capital arm of GlaxoSmithKline. The firm invests globally in emerging life science companies that are pursuing innovative science which will significantly impact medical care. Since 1985, SR One has invested approximately 800 million in more than 180 companies.

SR One

F-Star Therapeutics

F-Star Therapeutics is a biopharmaceutical company dedicated to developing novel bispecific antibody products that provide a significant improvement over the current standard of care. Given its strong patent position, it is the only biopharmaceutical company with the ability to create and develop Fcab:tm: antibody fragments, and bispecific antibodies, by modifying the constant region of an antibody. In particular, F-star’s Modular Antibody Technology:tm: enables rapid discovery and development of bispecific antibodies by introducing additional binding sites to the constant region of an antibody and offers unprecedented ease in the development and manufacturing of bispecific monoclonal antibodies. Using the Modular Antibody Technology, F-star generates bispecific antibodies (mAb2:tm:) that possess the favourable characteristics of traditional monoclonal antibodies, without the production challenges often associated with other antibody formats. F-star is now applying its proprietary technology to the development of a pipeline of product candidates.  Since its founding in 2006 the company has secured funding and support from leading VC investors: Aescap Venture, Atlas Venture, Novo Ventures and TVM Capital; as well as from renowned strategic corporate investors: Merck Serono Ventures, MP Healthcare Venture Management and SR One. In 2013, F-star established an asset-centric vehicle structure through the formation of F-star Alpha Ltd., which included out-licensing of FS102 from F-star to F-star Alpha Ltd. In October 2014 Bristol-Myers Squibb obtained an exclusive option to buy F-star Alpha. In addition the company has alliances with Boehringer Ingelheim and Merck Serono, each covering multiple targets. In 2011, F-star was selected by FierceBiotech as one of the Fierce 15 winners. F-star currently employs over 35 people at its research site in Cambridge, UK.

F-star Therapeutics was a clinical-stage biopharmaceutical company pioneering bispecific antibodies for cancer immunotherapy. Its proprietary platform technology enabled the development of tetravalent (2+2) bispecific antibodies, which could simultaneously target two different antigens and elicit potent and focused immune activation in the tumor microenvironment. F-star had four clinical programs based on this technology: FS118, FS222, FS120, and SB 11285 (a next-generation STING agonist). These programs aimed to address unmet medical needs in various cancers by offering potentially first- and best-in-class drug candidates.

invoX Pharma to Acquire F-star Therapeutics, Inc. a Pioneering Next Generation Bispecific Discovery Platform and Clinical Programs

Oncology R&D

Targeting complex diseases with complex molecules

Large-molecule Therapeutics

F-star Therapeutics Announces CFIUS Clearance for Proposed Acquisition by invoX Pharma

Takeda

The partnership will use F-star’s fully-human Fcab and tetravalent mAb² platforms to analyse and develop immunotherapies for cancer.

F-star Therapeutics was a clinical-stage biopharmaceutical company pioneering bispecific antibodies for cancer immunotherapy. Its proprietary platform technology enabled the development of tetravalent (2+2) bispecific antibodies, which could simultaneously target two different antigens and elicit potent and focused immune activation in the tumor microenvironment. F-star had four clinical programs based on this technology: FS118, FS222, FS120, and SB 11285 (a next-generation STING agonist). These programs aimed to address unmet medical needs in various cancers by offering potentially first- and best-in-class drug candidates.
F-star's modular antibody technology also facilitated collaborations with major biopharmaceutical companies across oncology, immunology, and neurology. In June 2022, F-star entered into a definitive agreement to be acquired by invoX Pharma, a subsidiary of Sino Biopharmaceutical Limited, for approximately USD 161 million. The acquisition was completed in 2023, and F-star's assets, including its tetravalent bispecific antibody platform and clinical programs, became part of invoX Pharma's oncology research and development efforts.

Innovent Biologics is a leading biopharmaceutical company founded in 2011 with the mission to develop and commercialize innovative and affordable medicines. The company focuses on oncology, cardiovascular and metabolic diseases, autoimmune disorders, and ophthalmology. As of March 2024, Innovent has ten approved products in the Chinese market, including TYVYT (sintilimab injection), BYVASDA (bevacizumab injection), SULINNO (adalimumab injection), and others. The company's core product, TYVYT, is an anti-PD-1 monoclonal antibody approved across seven indications, making it the most widely approved PD-1 inhibitor in China.
Innovent has a robust pipeline with three new drug applications under review, four assets in Phase III or pivotal trials, and 19 molecules in early clinical development. The company's innovative pipeline spans various modalities, including bispecific antibodies, antibody-drug conjugates (ADCs), and RNA therapeutics. In oncology, Innovent is advancing the next-generation immunotherapy combinations with ADCs, such as the CLDN18.2 ADC (IBI343) and the EGFR/B7H3 bispecific ADC (IBI3001). The company's metabolic pipeline includes mazdutide, a first-in-class GLP-1R/GCGR dual agonist in late-stage development for weight management.
Innovent has a strong emphasis on global innovation, with its Innovent Academy delivering eight novel molecules into IND-enabling stage in 2023. The company has established large-scale manufacturing facilities in Suzhou and Hangzhou to support global supply. Innovent collaborates with over 30 global healthcare leaders, reinforcing its commitment to advancing biopharmaceutical innovation worldwide.

Innovent Biologics

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 ADC Therapeutics is a clinical-stage biotechnology company focused on developing and commercializing next-generation antibody-drug conjugates (ADCs) for treating cancer. The company's ADCs leverage highly potent and targeted pyrrolobenzodiazepine (PBD) dimer technology, which causes the ADCs' antibodies to bind to specific tumor cell surface antigens. Once internalized, the potent PBD dimer is released inside the cell, creating covalent cross-links between the DNA strands, disrupting cell division without triggering DNA repair mechanisms.
 
 
 
 
 ADC Therapeutics' lead product candidate, Zynlonta, received FDA approval in April 2021 for treating adult patients with relapsed or refractory diffuse large B-cell lymphoma after two or more lines of systemic therapy. The company is also advancing a deep pipeline of other PBD-based ADCs targeting hematologic malignancies and solid tumors. As of May 2021, ADC Therapeutics reported revenues of USD 38.2 million, reflecting initial sales of Zynlonta.
 
 
 
 
 In March 2022, ADC Therapeutics acquired US commercial rights to Overrkey Biological's anti-HER2 ADC Overena, broadening its cancer treatment portfolio. The acquisition aligned with the company's strategic focus on expanding globally with its PBD-based ADC technology.
 
</div>

ADC Therapeutics

Sirnaomics is a biopharmaceutical company engaged in the discovery and development of RNA therapeutics. The company focuses on innovative drugs for indications with unmet medical needs and large market opportunities. Sirnaomics utilizes two proprietary delivery platforms: the Polypeptide Nanoparticle Formulation (PNP) and the second generation of GalNAc conjugates called GalAhead.
Sirnaomics has established a robust pipeline of drug candidates, with several products in clinical and preclinical stages. The company's lead clinical product, STP705, has demonstrated positive results in Phase II clinical trials for the treatment of squamous cell carcinoma in situ (isSCC) and basal cell carcinoma (BCC). Additionally, STP705 is being explored for focal fat reduction in the medical aesthetics field. Another promising candidate, STP707, is a PNP formulation consisting of two siRNAs targeting TGF-β1 and COX-2 for intravenous treatment of solid tumors. STP707 has shown promising results in a Phase I basket clinical study, exhibiting stable disease response in 74% of evaluable patients.
Sirnaomics achieved a significant milestone by advancing STP122G, the first candidate utilizing the GalAhead technology, into clinical development. STP122G targets Factor XI for anticoagulation therapeutics and is currently undergoing Phase I clinical trials.
In March 2023, Sirnaomics' subsidiary, RNAimmune, received IND clearance from the FDA to initiate a Phase I clinical trial for RV-1770, an mRNA vaccine targeting respiratory syncytial virus (RSV). Additionally, RNAimmune obtained FDA clearance for a SARS-CoV-2 vaccine booster candidate, RV-1730.
Sirnaomics has established its manufacturing facility in China, enabling the transition from a biotech company to a biopharmaceutical corporation. The facility has successfully produced a full GMP batch of STP707 for human injection and is expected to support the company's clinical pipeline.
In July 2024, Sirnaomics announced the completion of IND-enabling studies for STP125G, an siRNA therapeutic targeting Apolipoprotein C3 (ApoC3) for the treatment of cardiovascular diseases. The positive results from non-human primate studies support the filing of an IND with the FDA.

Sirnaomics

Sesen Bio is a late-stage clinical company that previously focused on developing targeted fusion protein therapeutics for cancer treatment. Its lead product candidate, Vicineum, is a locally administered targeted fusion protein composed of an anti-epithelial cell adhesion molecule (EpCAM) antibody fragment tethered to a truncated form of Pseudomonas exotoxin A for the treatment of non-muscle invasive bladder cancer (NMIBC).
In February 2021, the FDA accepted Sesen Bio's Biologics License Application (BLA) for Vicineum to treat BCG-unresponsive NMIBC, granting Priority Review. However, in August 2021, the company received a Complete Response Letter from the FDA, requiring an additional Phase 3 clinical trial for potential resubmission. Following discussions with the FDA in March 2022, Sesen Bio aligned on most elements for the trial design and planned to meet again in mid-2022 to finalize outstanding items.
On July 15, 2022, Sesen Bio made the strategic decision to voluntarily pause further development of Vicineum in the US due to the incremental timeline and costs associated with the additional Phase 3 trial. The company shifted its primary focus to consummating a strategic transaction to maximize shareholder value while seeking a partner for Vicineum's further development.
In September 2022, Sesen Bio announced a pending merger with Carisma Therapeutics, a clinical-stage biopharmaceutical company developing immunotherapies based on engineered macrophages. This merger was approved by Sesen Bio's stockholders in March 2023, with the combined company operating under the name Carisma Therapeutics Inc. and trading on the Nasdaq under the ticker "CARM".
Upon closing the merger in March 2023, Sesen Bio declared a special cash dividend of USD 75 million (around USD 0.36 per share) to its stockholders and issued them Contingent Value Rights (CVRs) entitling them to potential proceeds from the sale of Vicineum and other assets, as well as a USD 30 million milestone payment under the Roche Asset Purchase Agreement.

Sesen Bio

ACELYRIN, INC. is a late-stage clinical biopharmaceutical company focused on developing transformative medicines for immunology and inflammatory diseases. The company's lead product candidate is izokibep, a next-generation inhibitor of interleukin-17A (IL-17A) designed to overcome limitations of monoclonal antibodies. Izokibep is being evaluated in multiple late-stage trials for moderate-to-severe hidradenitis suppurativa (HS), psoriatic arthritis (PsA), and noninfectious uveitis.
In March 2024, ACELYRIN reported positive top line data from a global Phase 2 billion/3 clinical trial of izokibep in PsA, meeting the primary endpoint of ACR50 at 16 weeks with high statistical significance. The trial also demonstrated robust clinical responses for higher hurdle endpoints like ACR70, PASI100, and composite measures, indicating izokibep's potential to provide clinically meaningful benefits. Additionally, ACELYRIN announced differentiated long-term 32-week data from a global Phase 2 billion trial of izokibep in HS, showing rapid, dose-ordered improvement across multiple disease manifestations, including HiSCR100 achieved earlier than reported by other IL-17 inhibitors.
ACELYRIN's other late-stage asset is lonigutamab, a subcutaneously delivered monoclonal antibody targeting IGF-1R being investigated for the treatment of thyroid eye disease (TED). In March 2024, ACELYRIN announced positive proof-of-concept data from a Phase 1/2 trial, demonstrating rapid improvements in proptosis and clinical activity score within three weeks after the first dose.
As of December 31, 2023, ACELYRIN had cash, cash equivalents, and short-term marketable securities totaling USD 721.3 million, providing a runway to support key late-stage data milestones and registrational studies across multiple indications. In January 2023, ACELYRIN acquired ValenzaBio, adding lonigutamab and other immunology assets to its pipeline.

ACELYRIN

Companies that develop engineered proteins that can target specific proteins or cells in the body

Companies that develop large molecules that can be used to target specific RNA molecules in the body, either to silence or replace them

Companies that develop large molecules that combine the targeting ability of monoclonal antibodies with the cytotoxic effects of chemotherapy drugs

Companies that develop large molecules that can be used to replace or supplement deficient or malfunctioning proteins in the body

Companies specializing in peptide-based treatments leverage short amino acid chains, known as peptides, to target and modulate various biological processes for therapeutic applications

AL/ML used to identify potential drug targets, and support protein engineering and optimization

F-Star Therapeutics

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