IFM Therapeutics is hiving off its NLRP3 stable into a subsidiary dubbed IFM Tre. The new unit, which starts out with $31 million in series A funding, expects to bring its lead asset into phase 1 in 2019.
In real estate, location is key. The same holds true in the hunt for new drugs. HotSpot Therapeutics is trying to break new ground in drug discovery by hitting locations on a protein that aren’t the conventional targets of most medicines.
Most conventional small molecule drugs engage directly with the engine of a protein’s function, aiming to often turning off an enzymatic activity associated with a disease. These drugs bind and compete against the natural substrate of the protein at what are known as orthosteric sites. But other pockets on a protein can also modulate function, and these sites commonly referred to as allosteric sites.
Last week, AvroBio and Magenta Therapeutics priced their IPOs on the same night. Less than three months earlier, Unum Therapeutics priced its IPO. All three biotech companies are emerging leaders in the cell and gene therapy space, broadly defined. They are now well financed for the next chapter in their respective journeys to bring new potentially transformative therapies to cancer, rare disease, and autoimmune patients.