Lilly Ventures is the venture capital arm of Eli Lilly and Company responsible for life science investing in North America and Europe.  Its primary goal is to facilitate the success of companies in its areas of focus through early to expansion stage investments and value-adding resources. Lilly Ventures currently has $200 million under management and focuses on three major areas of interest. It partner actively with the management teams of its portfolio companies to realize the potential of their technologies.

Lilly Ventures

Oxford Science Enterprises is the university-partnered venture firm. We work with the University of Oxford to build companies that create fundamental technologies: science-based businesses capable of tackling the planet’s toughest problems. We invest in life science, AI and software, healthcare, and deep tech to create companies taking on challenges like nuclear fusion, quantum computing and developing treatments and cures for infectious diseases. Founded in 2015, we’ve raised over £600M to create a world-class technology ecosystem, and combine our deep experience with a network of investors, entrepreneurs and sector-experts to find co-investment, build businesses, and hire senior management talent.

Oxford Science Enterprises

Redmile Group is a healthcare investment organization that makes venture, growth, and crossover investing across healthcare.

Redmile Group

[Borealis Ventures](http://www.borealisventures.com/) partners closely with exceptional entrepreneurs from the earliest stages to build market-defining companies in information technology and life sciences.  Borealis is particularly committed to advancing the realm of design and engineering software and has invested for more than a decade in that sector’s most innovative emerging companies in such fields as 3D design, construction management, and data-driven software.

Borealis Ventures

Google Ventures invests in sectors including life sciences, consumer, enterprise, crypto, climate, and frontier technology. With Alphabet as its sole limited partner, Google Ventures focuses on long-term investments. Its operating partners assist startups in design, equity, diversity & inclusion, talent, and engineering and help them connect with Google for technology and expertise. Founded in 2009 as Google Ventures, Google Ventures manages over $8 billion in assets with 400 active portfolio companies in North America and Europe. Some notable investments include Uber, Nest, Slack, GitLab, and One Medical. Google Ventures is based in the San Francisco Bay Area with offices in Cambridge, New York, and London.

Google Ventures

Oxford University Innovation is the University of Oxford's technology transfer company and manages the University's intellectual property portfolio, working with University researchers on identifying, protecting and marketing technologies through licensing, spin-out company formation and material sales. Oxford University Innovation also manages Oxford University Consulting, which arranges consulting services providing clients access to the expertise of the University's academics. Oxford University’s overarching Strategic Plan begins, “The University of Oxford aims to lead the world in research and education” immediately followed by, “They seek to do this in ways which benefit society on a national and a global scale.” Oxford University Innovation helps staff and students to apply their expertise and research for wider social and economic benefit. Their role is to help University staff and students bring the benefits of their research and expertise to create impact in wider society. They support Oxford’s researchers, staff and students, offering commercial skills and a range of specialist resources in order to maximise research impact. Income is shared with those involved according to the University’s Regulations.

Oxford University Innovation

Panacea Venture is a healthcare-focused venture capital firm that focuses on investing and incubating in early-stage life science.  It manages three USD funds and one RMB fund.

Panacea Venture

Cowen Healthcare Investments invests fiduciary capital in healthcare companies across the biopharma, diagnostics and digital health sectors.

Cowen Healthcare Investments

Invus recognizes that every company is unique and that extraordinary business performance cannot be achieved by following a formulaic approach. Due to their unique structure, they have a great deal of flexibility in the types of companies and situations where they can get involved. They know that real transformation takes time and that it is never a straight line. They fully align their incentives with their partners and have the wherewithal and long-term commitment to see through any bumps along the way. They have been successfully empowering owner-managers since 1985. They have been reinvesting the same pool of money from the same group of European families (through their Artal investment vehicle) since their founding. Today they manage over $4 billion in an evergreen fund and work out of offices in New York, London, Paris and Hong Kong.

Invus

OrbiMed is a healthcare-dedicated investment firm, with approximately $5 billion in assets under management. OrbiMed's investment advisory business was founded in 1989 with a vision to invest across the spectrum of healthcare companies: from private start-ups to large multinational companies. OrbiMed manages the Caduceus Private Investments series of venture capital funds and a family of public equity investment funds.

OrbiMed

Eli Lilly engages in the discovery, development, manufacture, and sale of products in the pharmaceutical products business segment. The company manufactures and distributes products through owned or leased facilities in the United States, Puerto Rico, and 25 other countries. Its products are sold in approximately 135 countries. It also conducts research to find products to treat diseases in animals and to increase the efficiency of animal food production.

Eli Lilly

Evox Therapeutics

Evox Therapeutics is a privately held, Oxford-based biotechnology company focused on harnessing and engineering the natural delivery capabilities of extracellular vesicles, known as exosomes, to develop an entirely new class of therapeutics. Backed by leading Life Sciences Venture Capital groups and supported by a comprehensive intellectual property portfolio, Evox’s mission is to positively impact human health by creating novel exosome-based therapeutics for the treatment of various severe diseases with limited options for patients and their families. Evox has created substantial proprietary technology to modify exosomes using various molecular engineering, drug loading, and targeting strategies to facilitate targeted drug delivery to organs of interest, including the brain and the central nervous system. Exosome-based drugs have the potential to address some of the limitations of protein, antibody and nucleic acid-based therapies by enabling delivery to cells and tissues that are currently out of reach using other drug delivery technologies. Evox is leading the development within this emerging therapeutic space.

Evox Therapeutics is a biotechnology company specializing in exosome therapeutics. The company utilizes its proprietary DeliverEX technology to engineer exosomes for drug delivery to specific organs, including the brain and central nervous system. Evox's approach aims to overcome limitations of genetic medicines such as gene therapy, gene editing, and RNA therapeutics by enabling safe, non-immunogenic repeated delivery to cells and tissues that are challenging to reach with other drug delivery technologies.

Evox Therapeutics Granted Key US Exosome Purification Patent to Further Expand Its Leading Patent Portfolio

Evox Therapeutics Names Co-Founder Dr. Per Lundin as Chief Executive Officer

Evox Therapeutics Acquires Exosome AAV Technology and Intellectual Property

Evox Therapeutics enters into agreement to advance next generation exosome-delivered AAV gene therapy for the treatment of heart disease

Therapeutics that target specific areas/tissues to minimize treatment side effects.

Tissue Targeting Therapeutics

Evox Therapeutics is a privately held biotechnology company based in Oxford, UK, specializing in exosome therapeutics. The company focuses on developing a new class of therapeutics for the treatment of severe rare diseases by harnessing and engineering the natural delivery capabilities of extracellular vesicles (EVs), known as exosomes. Evox's proprietary DeliverEX technology platform engineers exosomes to facilitate drug delivery to organs of interest, including the brain and central nervous system.

Evox Therapeutics Expands its Exosome Manufacturing Patent Portfolio

Evox Therapeutics Presents Progress Across its DeliverEX® Platform Highlighting Advances in Exosome

RNA Therapeutics

Per Lundin on LinkedIn: Evox Therapeutics Names Co-Founder Dr. Per Lundin as Chief Executive… | 66 comments

Evox Therapeutics has entered a collaboration with Eli Lilly focused on brain/CNS disorders. The collaboration aims to develop RNA interference (RNAi) and antisense oligonucleotide drugs for neurological disorders.

Evox Therapeutics is a biotechnology company specializing in exosome therapeutics. The company utilizes its proprietary DeliverEX technology to engineer exosomes for drug delivery to specific organs, including the brain and central nervous system. Evox's approach aims to overcome limitations of genetic medicines such as gene therapy, gene editing, and RNA therapeutics by enabling safe, non-immunogenic repeated delivery to cells and tissues that are challenging to reach with other drug delivery technologies.
The company's technology focuses on harnessing and engineering the natural delivery capabilities of extracellular vesicles, known as exosomes, to develop a new class of therapeutics for treating severe rare diseases. Evox's intellectual property portfolio includes more than 100 granted patents across key jurisdictions, covering various aspects of exosome-based drug design, development, and manufacturing. In May 2023, Evox was granted a US patent for a method of purifying engineered exosomes using ultrafiltration and size-based separation steps, which is widely used in exosome therapeutics.
In June 2023, Evox acquired Codiak Biosciences' engEx-AAV technology platform, which enables active loading of adeno-associated virus (AAV) into exosomes. This technology has demonstrated improved AAV delivery, increased expression breadth in preclinical models, and shielding of AAVs from neutralizing antibodies. The acquisition aligns with Evox's strategy to enhance exosome-mediated delivery for genetic medicines such as gene therapy and genome editors.

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 Generation Bio is a biotechnology company developing non-viral genetic medicines for rare and prevalent diseases. The company's proprietary platform combines immune-quiet DNA (iqDNA), a novel variant of closed-ended DNA, with a cell-targeted lipid nanoparticle (ctLNP) delivery system and a rapid enzymatic synthesis (RES) manufacturing process. This platform is designed to create gene therapies with drug-like properties, offering durable gene expression, the ability to re-dose for individual patient titration, and the potential to sustain effect over a lifetime. Generation Bio's approach aims to enable multi-year durability from a single dose, deliver large genetic payloads, and allow titration and redosing to adjust or extend expression levels in each patient. The company's pipeline includes programs for liver diseases such as hemophilia A, phenylketonuria (PKU), and Wilson's disease, as well as eye disorders like Stargardt disease and Leber congenital amaurosis type 10. In October 2023, Generation Bio announced the development of iqDNA, which demonstrated cytokine levels and tolerability comparable to chemically modified messenger RNA in mice and non-human primates. Generation Bio's RES manufacturing process has the potential to produce ceDNA at a scale of hundreds of millions of doses.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In March 2023, Generation Bio entered into a strategic partnership with Moderna to develop non-viral genetic medicines. The collaboration combines Moderna's expertise with Generation Bio's platform technologies to expand their respective non-viral genetic medicines pipelines. Under this partnership, Moderna is using Generation Bio's ctLNP delivery system and iqDNA technology to advance two immune cell programs and two liver programs. The deal included a USD 40 million upfront cash payment and a USD 36 million equity investment from Moderna. Generation Bio will also receive future development, regulatory, and commercial milestone payments, along with royalties on worldwide net sales of immune cell-targeted and liver-targeted products. The partnership aims to develop new lipid nanoparticles and expand in vivo immune cell targeting as a new class of genetic medicines.
 
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Generation Bio

Oncopeptides AB is a biotech company focused on developing therapies for difficult-to-treat hematological diseases, particularly multiple myeloma. The company's lead product, PEPAXTO (melphalan flufenamide, also known as melflufen), received FDA approval in February 2021 for the treatment of adult patients with relapsed or refractory multiple myeloma who have received at least four prior lines of therapy. PEPAXTO is the first anticancer peptide-drug conjugate approved by the FDA for this indication. The drug works by leveraging aminopeptidases, which are overexpressed in multiple myeloma cells, to release cytotoxic agents.
In August 2022, the European Commission granted marketing authorization for Pepaxti (melphalan flufenamide) in combination with dexamethasone for the treatment of adult patients with multiple myeloma who have received at least three prior lines of therapies. Oncopeptides' research is based on two technology platforms: Peptide Drug Conjugates (PDC) and Small Polypeptide based Innate Killer Engagers (SPiKE). The PDC platform allows for efficient drug distribution in the body, enabling a wide therapeutic window and an optimized benefit-risk profile. The SPiKE platform utilizes the immune system to fight cancer by targeting natural killer cells, potentially reducing dose-limiting side effects while maintaining clinical efficacy.
As of 2023, Oncopeptides was conducting one clinical phase 3 study and six clinical phase 2 studies. The company's pipeline includes innovative drug candidates for difficult-to-treat hematological diseases, with the potential to expand into new indications. Oncopeptides' approach is science and data-driven, focusing on bringing innovation to patients with rare hematological diseases.

Oncopeptides

Neurona Therapeutics is a clinical-stage biotherapeutics company focused on developing regenerative cell therapy candidates for the treatment of neurological disorders. The company's lead investigational candidate, NRTX-1001, is being evaluated in an ongoing Phase I/II clinical trial for drug-resistant mesial temporal lobe epilepsy (MTLE). NRTX-1001 is a regenerative neural cell therapy derived from human pluripotent stem cells. It consists of fully-differentiated neural cells called interneurons that secrete the inhibitory neurotransmitter gamma-aminobutyric acid (GABA). Delivered as a one-time dose, these human interneurons are intended to integrate on-target and durably silence seizure activity in the epileptic region of the brain. In December 2023, Neurona presented early data from five participants in the ongoing study of NRTX-1001. Two patients who received the therapy more than a year prior experienced at least a 95% reduction in overall seizure frequency. NRTX-1001 is manufactured in Neurona's in-house GMP facility using proprietary methods. Beyond epilepsy, Neurona is also evaluating NRTX-1001 for potential application in Alzheimer's disease. The company's pipeline includes other cell therapy candidates such as investigational myelinating glial cells and gene-edited cells for undisclosed indications.

Neurona Therapeutics

Aro Biotherapeutics is a clinical-stage biotechnology company based in Philadelphia that specializes in developing tissue-targeted genetic medicines. The company's core technology is a proprietary protein platform called Centyrins, which enables efficient and tissue-specific delivery of siRNA and other genetic drugs. Aro's lead candidate, ABX1100, is being developed for the treatment of Pompe disease, a rare genetic disorder characterized by toxic glycogen accumulation in muscles. ABX1100 comprises a CD71 receptor-binding Centyrin conjugated to a small interfering RNA (siRNA) that targets the Gys1 gene, reducing levels and activity of the Gys1 enzyme in muscle tissues. The therapy has shown promising results in preclinical studies, demonstrating potent and muscle-specific reductions in Gys1 mRNA and protein in the Pompe mouse model. In October 2023, Aro initiated a Phase 1 clinical trial of ABX1100 in Canada, with initial data expected in 2024. The US Food and Drug Administration granted ABX1100 Orphan Drug Designation and Rare Pediatric Disease status. Beyond Pompe disease, Aro is exploring the potential of its Centyrin-siRNA conjugate programs for developing new treatments for autoimmune disorders.

Aro Biotherapeutics

Therapeutics that are designed to target specific cells to reach designated target sites

Therapeutics that are designed to target specific protein or protein receptors to reach designated target sites

Therapeutics that use different targeting approaches, such as bone-targeting or pressure-based, to help therapeutics identify specific target sites

Companies that offer contract research and manufacturing facilities that focus on tissue-targeting therapeutics for life sciences organizations

Evox Therapeutics is a privately held biotechnology company based in Oxford, UK, specializing in exosome therapeutics. The company focuses on developing a new class of therapeutics for the treatment of severe rare diseases by harnessing and engineering the natural delivery capabilities of extracellular vesicles (EVs), known as exosomes. Evox's proprietary DeliverEX technology platform engineers exosomes to facilitate drug delivery to organs of interest, including the brain and central nervous system.The company's exosome-based drugs aim to address limitations of genetic medicines such as gene therapy, gene editing, and RNA therapeutics. Evox's technology enables safe, non-immunogenic repeated delivery to cells and tissues that are currently challenging to reach using other drug delivery methods. The company has developed an exosome engineering platform capable of delivering a wide range of genetic medicines, including genome editors, RNAi, and mRNA.Evox has made significant advancements in exosome manufacturing and purification processes. The company has been granted multiple patents covering key purification processes and methods of exogenous loading. As of May 2023, Evox's patent portfolio contained more than 100 granted patents across key jurisdictions, covering various aspects of designing, developing, and manufacturing exosome-based drugs.In June 2023, Evox acquired Codiak Biosciences' engEx-AAV technology platform, which enables active loading of adeno-associated virus (AAV) into exosomes. This technology has demonstrated improved AAV delivery, increased expression in preclinical models, and the ability to shield AAVs from neutralizing antibodies.

<div>
 
 PYC Therapeutics is a clinical-stage biotechnology company focused on developing RNA therapies for genetic diseases. The company utilizes a proprietary drug delivery platform based on Cell-Penetrating Peptides (CPPs) to enhance the potency of precision medicines within the RNA therapeutic class. PYC's technology aims to overcome the delivery challenges associated with traditional RNA therapeutics, allowing for more effective treatment of genetic ailments.
 
 
 
 
 PYC's lead drug candidate, VP-001, is designed to treat Retinitis Pigmentosa type 11 (RP11), a blinding eye disease that begins in childhood. VP-001 targets the U4/U6 small nuclear ribonucleoprotein (PRPF31) gene and is administered through intravitreal injection. In August 2023, the US Food and Drug Administration (FDA) granted Fast Track designation to VP-001, potentially expediting its development and review process. In May 2024, PYC reported encouraging first clinical data for VP-001 in RP11 patients.
 
 
 
 
 The company's pipeline includes other preclinical programs for Inherited Retinal Diseases and Central Nervous System disorders. In May 2024, PYC received orphan drug designation from the FDA for PYC-001, a drug candidate targeting autosomal dominant optic atrophy (ADOA). PYC is also developing VP-002 and exploring multiple candidates for eye and CNS indications.
 
 
 
 
 In January 2024, PYC announced plans to collaborate with Google Cloud to develop new precision medicines. This project aims to utilize machine learning models, merging AlphaFold and its successors, to predict ideal peptide sequences and structures for delivering precision medicine cargoes to cells in the human body.
 
 
 
 
 For the half-year ended December 31, 2023, PYC reported revenue of AUD 9.12 million, up from AUD 3.49 million in the previous year. The company's net loss for the period was AUD 15.09 million. As of March 31, 2024, PYC had a pro-forma cash balance of approximately AUD 84 million, providing runway into the second half of 2025 for its ongoing clinical trials.
 
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PYC Therapeutics

Flamingo Therapeutics is a biotechnology company specializing in RNA-targeted therapies for oncology. Founded in 2019, the company focuses on developing treatments for difficult-to-treat cancers using state-of-the-art chemistries and a clinical-stage pipeline targeting undruggable transcription factors and splice variants. Flamingo's lead program is danvatirsen, an antisense oligonucleotide (ASO) that selectively targets STAT3 and has shown clinical activity in two Phase II studies. Danvatirsen binds to STAT3 mRNA, inhibiting translation of the transcript, resulting in reduced tumor cell growth and activation of anti-tumor immunity. Flamingo initiated the PEMDA-HN Phase II trial evaluating danvatirsen in combination with pembrolizumab for patients with recurrent/metastatic head and neck squamous cell carcinoma (HNSCC). The company is also advancing FTX-001, its most advanced long non-coding RNA (LncRNA) program targeting MALAT-1, through readiness for Phase 1 trials in solid tumors. Flamingo's proprietary discovery engine, FLAME (Flamingo LncRNA Antisense Mining Engine), addresses lncRNAs, a large and untapped class of disease-causing targets within the "dark matter" of the human genome. In March 2023, Flamingo merged with Dynacure to create a leading RNA therapeutics company focused on clinical oncology, combining their pipelines and expertise.
Key customers and partnerships
Flamingo Therapeutics has established strategic alliances and partnerships to advance its RNA-targeted therapies. The company has an expanded alliance with Ionis Pharmaceuticals, a world leader in RNA-targeted antisense oligonucleotide (ASO) therapeutics. This partnership, announced in September 2021, combines three clinical-stage programs from Ionis with Flamingo's novel lncRNA discovery engine and preclinical lncRNA program. The alliance leverages Flamingo's expertise in oncology and long non-coding RNAs with Ionis' proficiency in RNA-targeted drug discovery and development. Additionally, Flamingo collaborates with academic partners at VIB, KU Leuven, Ghent University, and the University of Michigan, whose pioneering work in non-coding RNA genes in cancer contributed to the company's foundation. In June 2023, Flamingo received a EUR 1.7 million research grant from Flanders Innovation & Entrepreneurship (VLAIO) to advance its RNA-targeting oncology portfolio, further validating its approach in creating a pipeline of programs targeting undruggable transcription factors and non-coding RNA.

Flamingo Therapeutics

Korro Bio is a biotechnology company focused on developing RNA editing therapeutics for both rare and common diseases. Founded in 2018, the company is headquartered in Cambridge, Massachusetts. Korro's proprietary platform, called OPERA (Oligonucleotide Promoted Editing of RNA), leverages the body's natural ADAR (adenosine deaminase acting on RNA) system to make precise edits to RNA transcripts. This approach allows for the correction of genetic mutations without permanently altering DNA, potentially offering a safer alternative to traditional gene editing techniques.
The company's lead program targets alpha-1 antitrypsin deficiency (AATD), a genetic disorder affecting the lungs and liver. Korro's AATD candidate aims to repair inherited mutations and restore production of normal functional alpha-1 antitrypsin (A1AT) protein in the liver. preclinical studies have demonstrated an increase of normal A1AT protein to 85% of total protein in circulation. Korro plans to submit a regulatory filing to initiate clinical trials for this candidate in the second half of 2024.
Beyond AATD, Korro is developing RNA editing therapies for conditions such as Parkinson's disease, severe alcoholic hepatitis, amyotrophic lateral sclerosis (ALS), subsets of pain, and cardiometabolic diseases. The company's initial focus is on liver-targeted therapies, with plans to expand into central nervous system indications and other tissue types.
In July 2023, Korro Bio announced plans to go public through a reverse merger with Frequency Therapeutics. The combined company will operate under the Korro Bio name and trade on the Nasdaq stock exchange under the ticker symbol KRRO. This transaction, along with a concurrent USD 117 million financing, is expected to provide Korro with approximately USD 170 million in cash upon closing, which is anticipated to fund operations into 2026.

Korro Bio

Halo-Bio is a biopharmaceutical company focused on developing innovative therapies. The company has a licensing agreement with Tekmira Pharmaceuticals related to certain lipid nanoparticle (LNP) technologies.

Halo-Bio RNAi Therapeutics

Oncotelic Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing RNA therapeutics and small molecule drugs for cancer and infectious diseases. The company's lead drug candidate is OT-101, a first-in-class RNA therapeutic designed to target TGF-β2, a protein that suppresses immune cell response and contributes to tumor growth in cancer tissues. OT-101 has demonstrated notable single-agent activity in clinical trials for relapsed/refractory cancer patients, with overall survival increasing in a dose-dependent manner at levels of 140mg/m2 and higher.
Oncotelic is currently conducting a Phase 2 billion/Phase 3 clinical trial called STOP-PC to evaluate OT-101 in combination with mFOLFIRINOX compared to mFOLFIRINOX alone for patients with advanced and unresectable or metastatic pancreatic cancer. The company believes this trial could deliver a decisive win against pancreatic cancer based on previous data showing improved survival in patients with low TGF-β2 expression treated with irinotecan.
In addition to its oncology pipeline, Oncotelic has explored OT-101's potential against SARS-CoV-2, completing a Phase 2 trial for Covid-19 in November 2021 with positive top line data for safety and efficacy. The company has also acquired AL-101 for intranasal delivery of apomorphine, which it intends to develop for conditions including Parkinson's Disease, erectile dysfunction, and female sexual disorders.

Oncotelic

Companies developing treatments using molecules like antisense oligonucleotides (ASOs) and phosphorodiamidate morpholino oligomers (PMOs). These molecules target specific genes to treat genetic diseases by either silencing or modifying gene expression.

Companies using RNA interference (RNAi) to target and silence specific genes involved in diseases for treating various conditions by blocking harmful gene activity.

Companies involved in altering RNA molecules to modify gene expression or correct genetic defects. This can include substitutions, insertions, or deletions of nucleotides, leading to alterations in the RNA sequence and the regulation of RNA molecules to control gene expression or cellular functions.

Companies focused on other RNA-based therapies using approaches such as tRNA, circRNA, lncRNA, and saRNA to develop treatments targeting specific RNA molecules to regulate gene expression.

RNA-based developments form a foundation for precision medicine.

RNA plays essential roles in gene expression, regulation, and protein synthesis, making it a fundamental focus in genomic research and understanding genetic mechanisms.

Evox Therapeutics

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