A GPCR startup out of France and Canada scores its Series A after 20 years of wheeling and dealing – Endpoints News & More News Here

Hav­ing al­prepared nailed down mul­ti­ple li­cens­ing and col­lab­o­ra­tion offers with Big Phar­ma gi­ants like Bris­tol My­ers Squibb and Pfiz­er, a France- and Que­bec-based GPCR biotech now has its first VC fi­nanc­ing spherical un­der its belt.

The I/O fo­cused biotech Do­fundamental Ther­a­peu­tics closed a Se­ries A price $42 mil­lion, the com­pa­ny an­nounced Tues­day. Do­fundamental had pre­vi­ous­ly constructed nu­mer­ous half­ner­ships with dif­fer­ent phar­ma com­pa­nies since its discovered­ing in 2001, corresponding to Mer­ck KGaA, Boehringer In­gel­heim and US-based Mer­ck.

“We are pleased to wel­come our new share­hold­ers and I thank them all for their com­mit­ment at this de­ci­sive stage of our com­pa­ny’s growth,” Do­fundamental CEO Pas­cal Neuville mentioned in a state­ment. “Af­ter hav­ing de­liv­ered a first GPCR drug can­di­date for im­muno-on­col­o­gy to­geth­er with Mer­ck KGaA, Do­main is now com­mit­ted to ad­vance its own treat­ments re­viv­ing the im­mune sys­tem to de­feat can­cer.”

End­factors News has reached out to Do­fundamental and will up­date ac­twine­ing­ly.

As for what’s subsequent, Do­fundamental mentioned in a state­ment that it’s going to transfer pipeline de­vel­op­ment for­ward for a va­ri­ety of drug can­di­dates, in­clud­ing clin­i­cal de­vel­op­ment for an EP4R an­tag­o­nist, push two GPCR professional­grams in­to the IND stage (which does in­clude an an­ti-CCR8 an­ti­physique), and advert­vance the biotech’s dis­cov­ery ef­forts for GPCR-tar­get­ing medicine.

GPCRs have been the low-hang­ing fruit and the tar­get of many ap­proved medicine, however a extra re­cent suite of biotechs has aimed to construct on that foun­da­tion with new tech­no­log­i­cal ap­proach­es. Re­cent­ly, So­sei Hep­tares had signed two dis­cov­ery offers, one be­ing an an­ti­physique dis­cov­ery cope with Twist Bio­science final 12 months, and the oth­er com­ing in a deal in Jan­u­ary with Al­pha­wager’s Ver­i­ly af­ter Ab­b­Vie pulled out of a cope with the Japan­ese biotech.

Bel­gian biotech Con­fo al­so signed a cope with Re­gen­eron final 12 months to lever­age its plat­kind, which us­es se­lec­tive VHH an­ti­bod­ies to sta­bi­lize GPCRs, to­wards dis­cov­er­ing an­ti­physique drug can­di­dates for GPCR tar­will get.

Quite a couple of in­vestors de­cid­ed to tag alongside Tues­day: co-lead in­vestors Panacea Ven­ture, 3B Fu­ture Health Fund and CTI Life Sci­ences, together with advert­Mare BioIn­no­va­tions, Schroders Cap­i­tal, Omnes, Turenne Cap­i­tal, Theodor­us, and Vi­va BioIn­no­va­tor. Ex­ist­ing in­vestor Sev­en­ture Part­ners, which had pre­vi­ous­ly in­vest­ed $3.9 mil­lion in­to the com­pa­ny again in 2019, al­so tagged alongside. The final mon­ey Do­fundamental raised was a $6.7 mil­lion debt fi­nanc­ing from a con­sor­tium of French banks in Jan­u­ary 2020.

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