IpiNovyx Bio Secures $ 10 Million Seed Funding to Advance Best Immunoproteasome Inhibitors into Early Human Clinical Studies
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Posted on Tuesday, 05 October 2021 18:54
Participating investors include Viva BioInnovator, Eli Lilly and Company, Opaleye Management, Orange Grove Bio and Alexandria Venture Investments
Basic science stems from historical research from the Weill Cornell Medicine and Hospital for Special Surgery (HSS) research institute
The company’s proprietary technology platform enables the creation of novel, highly selective and reversible immunoproteasome inhibitors for the treatment of autoimmune and inflammatory diseases
NEW YORK, NY, USA I October 05, 2021 I IpiNovyx Bio, a biopharmaceutical company developing a leading immunoproteasome modulatory therapy platform to transform the treatment of autoimmune and inflammatory diseases, today announced the closing of a $ 10 million funding round. The financing was led by Viva BioInnovator (a division of Viva Biotech) and also included participation from Lilly, Opaleye Management, Orange Grove Bio and Alexandria Venture Investments. Proceeds from the funding will support the Company’s continued progression from its leading drug candidates into early human clinical studies, including the submission of the Company’s first investigational new drug (IND) application.
The drug development candidates of IpiNovyx Bio come from the company’s proprietary technology platform, which enables the creation of novel highly selective and reversible immunoprotein inhibitors. These innovative small molecule inhibitors are designed to selectively target the immunoproteasome and modulate specific immune cell types associated with autoimmune and inflammatory diseases. Importantly, preclinical research suggests that the compounds may possess a favorable toxicity profile compared to immunosuppressive therapies due to their ability to inhibit immune responses without killing immune cells. In addition, the inhibitory activity of the company’s drug candidates is reversible, further reducing the potential for toxicity. This promising therapeutic profile positions candidates for development as potential steroid-sparing therapies for patients with a range of autoimmune diseases, as well as long-term therapies for autoimmune and inflammatory diseases, many of which are lacking. effective treatment options.
IpiNovyx was founded by Orange Grove Bio, a biotechnology company focused on capital allocation and asset development, alongside scientific founders Gang Lin, Ph.D. and Carl Nathan, MD of Weill Cornell Medicine, and Franck Barrat, Ph.D., of the Hospital for Special Surgery (HSS) Research Institute.
“Patients with autoimmune and inflammatory diseases face limited treatment options and most of the available therapies are non-selective and present significant toxicity concerns. This lack of attractive treatment options is largely due to the heterogeneity of these diseases, which makes it difficult to manage their basic pathophysiology, ”said Dr Nathan, Chairman of the Department of Microbiology and Immunology and RA Rees Pritchett professor of microbiology at Weill Cornell Medicine. . “We believe that a strategy of specific and selective targeting of the immunoproteasome offers the possibility of overcoming these challenges, allowing the development of highly selective, broad-acting and reversible immunoregulatory therapies that have a significantly reduced potential for toxicity. We look forward to continuing our research in this area and working to advance these first-rate immunoproteasome inhibitors in human clinical trials. ”
“Orange Grove Bio is committed to partnering with world-class researchers to advance the most promising drug development technologies from leading academic institutions. We believe that the scientific founders of IpiNovyx and their unique approach to developing the best immunoproteasome inhibitors are the ideal fit for this model, ”said Marc Appel, Co-Founder and CEO of IpiNovyx and CEO of Orange Grove Bio . “This seed funding will allow the company to move rapidly through preclinical and clinical studies with the goal of providing life-changing therapies for patients with autoimmune and inflammatory diseases. “
The immunoproteasome possesses several key attributes that position it as a promising therapeutic target for complex inflammatory diseases. First, stimuli relevant to inflammatory diseases rapidly induce the immunoproteasome, which then supports the activity of immune cell functions, including growth, differentiation, cytokine release, and signaling. This induced activity is exacerbated both by the high prevalence of the immunoproteasome in several types of immune cells linked to immunopathology and by the fact that its abundance further increases in cells during activation. The results of preclinical studies in several in vivo and in vitro models of inflammatory diseases that have been shown to be effective for moderately selective inhibition of the immunoproteasome.
The fundamental technology advanced by IpiNovyx is based on pioneering science conducted in the Nathan and Lin Laboratories of Weill Cornell Medicine in collaboration with the Barrat Laboratory of HSS, with prior support from Weill Cornell Medicine’s Harm Reduction Program, the Daedalus Fund for Innovation, which operates under the auspices of Weill Cornell Medicine Enterprise Innovation. An important component of this work has also been developed through the efforts of the Tri-Institutional Therapeutics Discovery Institute, a unique program that provides a dedicated medicinal chemistry platform to generate new chemical and molecular entities on behalf of its academic collaborators, with a view to advancing early stage therapeutic candidates into new treatments for patients. The technology is also licensed through an agreement with the Center for Technology Licensing (CTL) at Cornell University.
“Weill Cornell Medicine’s strong innovation ecosystem works together to bring our faculty’s cutting-edge research to market for the benefit of patients by providing institutional support at critical times,” said Dr. John Leonard, Senior Associate Dean for innovation and initiatives at Weill Cornell Medicine. “IpiNovyx Bio, a company based on the foundational work of Drs. Lin and Nathan, serves as an example of innovation and collaboration at the frontiers of science, and we look forward to the therapeutic advancements that this technology may one day offer for patients. autoimmune diseases and inflammatory diseases. “
Weill Cornell Medicine Enterprise Innovation accelerates the best in biomedical innovation to market, translating groundbreaking research into transformational care. Enterprise innovation provides a bridge between academic researchers and industry stakeholders, negotiating commitments and alliances, engaging and educating faculty on biotechnology commercialization and business development, which includes patenting and licensing, as well as designing dedicated research alliances and providing a full range of entrepreneurial solutions. programming, education, mentoring and other resources.
HSS is the world’s largest academic medical center dedicated to musculoskeletal health.
About IpiNovyx Bio
IpiNovyx Bio is a drug development and technology platform company focused on novel therapies to treat autoimmune and inflammatory diseases through the selective inhibition of the immunoproteasome. With applications in a range of indications with underlying immunopathology, the IpiNovyx Bio technology platform enables highly selective, reversible and non-toxic inhibition of various types of immune cells.
About Orange Grove Bio
Orange Grove Bio (OGB) is an emerging, preclinical, capital allocation and asset development biotechnology company. OGB is partnering with universities and entrepreneurs to develop innovative treatments for important diseases, especially cancer and immune disorders.
THE SOURCE: IpiNovyx Organic