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Axial partners with great founders and inventors. We invest in early-stage life sciences companies often when they are no more than an idea. We are fanatical about helping the rare inventor who is compelled to build their own enduring business. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company . We are excited to be in business with you - email us at info@axialvc.com
Happy New Year.
Life Sciences Financings and Commentary #40 - December 25, 2020 - January 1, 2021
Financings
Number of deals: 2 & Total capital invested: $181M
- Faze Medicines raised $81M led by Third Rock Ventures to develop new medicines focused on biomolecular condensates. Biomolecular condensates are membrane-less clusters of molecules, such as proteins and nucleic acids, that dynamically organize to perform a wide array of cell functions. Research over the past decade has found that disturbances in the behavior of condensates play a causative role in myriad human diseases, including amyotrophic lateral sclerosis (ALS) and other neurodegenerative disorders - https://www.bioworld.com/articles/501839-condensates-offer-broad-vistas-for-faze-medicines?v=preview
- Immvira raised over $100M from Hillhouse Capital, OrbiMed, GBA Fund, among others to develop oncolytic viruses in oncology. The company's product lines include oHSV encoding IL12 and anti-PD-1Ab (T3) to be administered by direct injection into the tumor mass; oHSV encoding IL12 only (T2) for use in combination with immune-modulators administered systemically; auxiliary therapies; and genetically engineered oHSV to infect tumor cells bearing unique receptors on their surface.
Deals
Number of deals: 1 & Total deal value: Over $4B
- Myovant Sciences announced a collaboration with Pfizer to develop and commercialize relugolix, for advanced prostate cancer, in the U and Canada. Myovant will receive up to $4.2B, including an upfront payment of $650B, $200B in potential regulatory milestones for FDA approvals for relugolix and tiered sales milestones. Myovant and Pfizer will equally share profits for relugolix - https://www.bioworld.com/articles/501813-getting-a-fix-on-orgovyx-franchiser-pfizer-pledges-myovant-up-to-42b
I used to play football a long time ago - I had some decent success mainly because of my teammates with some of them playing in the NFL. Every practice, every game was an existential fight. I’m not that athletic so every year some 6’4 monster would show up trying to take my spot. Similarly, all of these companies are fighting for their right to exist whether they raised $1M or $100M. Building a great business requires passion and focus. A really powerful and useful framework to lead groups of people and win was developed by Bill Walsh -