Venky Soundararajan (via Medium)

A for aug­ment­ed: Cam­bridge AI com­pa­ny out to cap­ture bio­med­ical knowl­edge gets $60M from Mayo, Sil­i­con Val­ley VC

The Mayo Clin­ic is join­ing hands with a Sil­i­con Val­ley VC firm to in­ject $60 mil­lion in­to nfer­ence, a Cam­bridge, MA-based play­er in the gold rush to cap­i­tal­ize on bio­phar­ma’s grow­ing in­ter­est — and urge — to ac­cel­er­ate drug dis­cov­ery and de­vel­op­ment us­ing the lat­est ma­chine learn­ing tools.

While nfer­ence os­ten­si­bly be­longs to a gen­er­a­tion of soft­ware star­tups that cropped up around 2013, it doesn’t see it­self as part of the AI main­stream, founder and CSO Venky Soundarara­jan tells End­points News. That’s why the A in their AI stands for aug­ment­ed, not ar­ti­fi­cial.

“To put it blunt­ly, we are not in the busi­ness of re­plac­ing hu­man ex­perts,” he said.

Rather, nfer­ence is in­ter­est­ed in teach­ing soft­ware to comb through un­struc­tured bio­med­ical in­for­ma­tion — clin­i­cal notes, case re­ports, sci­en­tif­ic lit­er­a­ture, pathol­o­gy im­ages, ECG wave­forms and ge­nom­ic se­quences — and ren­der them com­putable. By cap­tur­ing and syn­the­siz­ing dif­fer­ent bod­ies of knowl­edge, the goal is to of­fer a one-stop shop that re­searchers can con­sult at any point of the R&D process, whether they are try­ing to make new com­pounds or de­sign­ing a clin­i­cal tri­al.

Soundarara­jan sug­gest­ed that’s the type of AI com­pa­ny that Bill Gates said he would build if he were to start a new ven­ture in this age, one “whose goal would be to teach com­put­ers how to read, so that they can ab­sorb and un­der­stand all the writ­ten knowl­edge of the world,” in the Mi­crosoft founder’s words.

Two of the top 10 bio­phar­ma com­pa­nies are al­ready on board as part­ners, ac­cord­ing to Soundarara­jan. With the Se­ries B, he hopes to add a new ser­vice around “con­text rich phe­no­types,” which would en­able the map­ping of ge­nom­ic da­ta to phe­no­types.

An­drew Danielsen

“Our strate­gic in­vest­ment in nfer­ence is a re­flec­tion of our con­fi­dence that a holis­tic knowl­edge syn­the­sis plat­form, that puts pa­tient pri­va­cy first, is the so­lu­tion for ef­fec­tive­ly lever­ag­ing re­al world ev­i­dence to spur in­no­va­tion to ben­e­fit pa­tient care,” An­drew Danielsen, chair of Mayo Clin­ic Ven­tures, said in a state­ment.

In fact, the re­search cen­ter has been so con­fi­dent in the tech that it’s set up a joint ven­ture with nfer­ence –dubbed Qra­tiv — to re­pur­pose ther­a­pies for rare dis­eases.

NTT Ven­ture Cap­i­tal joined Mayo for the round, which al­so in­clud­ed ex­ist­ing in­vestors Ma­trix Part­ners and Ma­trix Cap­i­tal Man­age­ment.

Out­side their head­quar­ters in Cam­bridge, nfer­ence’s 150-strong staff is spread be­tween Ban­ga­lore, Toron­to and Min­neso­ta, Soundarara­jan added, and he’s ex­plor­ing an ex­pan­sion to Eu­rope.

Fangliang Zhang (Imaginechina via AP Images)

The big mon­ey: Poised to make drug R&D his­to­ry, a Chi­na biotech un­veils uni­corn rac­ing am­bi­tions in a bid to raise $350M-plus on Nas­daq

Almost exactly three years after Shanghai-based Legend came out of nowhere to steal the show at ASCO with jaw-dropping data on their BCMA-targeted CAR-T for multiple myeloma, the little player with Big Pharma connections is taking a giant step toward making it big on Wall Street. And this time they want to seal the deal on a global rep after staking out a unicorn valuation in what’s turned out to be a bull market for biotech IPOs — in the middle of a pandemic.

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Jean-Jacques Bienaime, BioMarin chairman and CEO

Bio­Marin holds the line on bleeds with 4-year val­rox up­date on he­mo­phil­ia A — but what's this about an­oth­er de­cline in Fac­tor 8 lev­els?

BioMarin has posted some top-line results for their 4-year followup on the most advanced gene therapy for hemophilia A — extending its streak on keeping a handful of patients free of bleeds and off Factor VIII therapy, but likely stirring fresh worries over a continued drop in Factor VIII levels.

We just don’t know how big a drop.

We’ll see more data when the results are presented at the World Federation of Hemophilia in a couple of weeks. But in a statement out Sunday night, BioMarin $BMRN reported that none of the patients required Factor VIII treatment, adding:

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As­traZeneca trum­pets the 'mo­men­tous' da­ta they found for Tagris­so in an ad­ju­vant set­ting for NSCLC — but many of the ex­perts aren’t cheer­ing along

AstraZeneca is rolling out the big guns this evening to provide a salute to their ADAURA data on Tagrisso at ASCO.

Cancer R&D chief José Baselga calls the disease-free survival data for their drug in an adjuvant setting of early stage, epidermal growth factor receptor-mutated NSCLC patients following surgery “momentous.” Roy Herbst, the principal investigator out of Yale, calls it “transformative.”

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Pablo Legorreta, founder and CEO of Royalty Pharma AG, speaks at the annual Milken Institute Global Conference in Beverly Hills, California (Patrick T. Fallon/Bloomberg via Getty Images)

Cap­i­tal­iz­ing Pablo: The world’s biggest drug roy­al­ty buy­er is go­ing pub­lic. And the low-key CEO di­vulges a few se­crets along the way

Pablo Legorreta is one of the most influential players in biopharma you likely never heard of.

Over the last 24 years, Legorreta’s Royalty Pharma group has become, by its own reckoning, the biggest buyer of drug royalties in the world. The CEO and founder has bought up a stake in a lengthy list of the world’s biggest drug franchises, spending $18 billion in the process — $2.2 billion last year alone. And he’s become one of the best-paid execs in the industry, reaping $28 million from the cash flow last year while reserving 20% of the cash flow, less expenses, for himself.

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Lynn Seely, Myovant CEO

My­ovant’s re­l­u­golix wins a piv­otal prostate can­cer show­down with an old stan­dard — com­ing down to the wire on ap­provals

Myovant $MYOV has rounded the final turn in its development race to get relugolix down to the regulatory wire at the FDA. And the biotech joined the virtual crowd at ASCO with the kind of data needed to keep the investor crowd’s attention.

Much of the attention on the drug has been focused on uterine fibroids, where AbbVie just scored a regulatory win for their rival drug Oriahnn (elagolix) as the biotech posted results in prostate cancer at the ASCO meeting.

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Dan O'Day, Gilead CEO (Andrew Harnik, AP Images)

Gilead leas­es part­ner rights to TIG­IT, PD-1 in a $2B deal with Ar­cus. Now comes the hard part

Gilead CEO Dan O’Day has brokered his way to a PD-1 and lined up a front row seat in the TIGIT arena, inking a deal worth close to $2 billion to align the big biotech closely with Terry Rosen’s Arcus. And $375 million of that comes upfront, with cash for the buy-in plus equity, along with $400 million for R&D and $1.22 billion in reserve to cover opt-in payments and milestones..

Hotly rumored for weeks, the 2 players have formalized a 10-year alliance that starts with rights to the PD-1, zimberelimab. O’Day also has first dibs on TIGIT and 2 other leading programs, agreeing to an opt-in fee ranging from $200 million to $275 million on each. There’s $500 million in potential TIGIT milestones on US regulatory events — likely capped by an approval — if Gilead partners on it and the stars align on the data. And there’s another $150 million opt-in payments for the rest of the Arcus pipeline.

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Paul Hudson, Sanofi CEO (Getty Images)

Sanofi CEO Paul Hud­son has $23B burn­ing a hole in his pock­et. And here are some hints on how he plans to spend that

Sanofi has reaped $11.1 billion after selling off a big chunk of its Regeneron stock at $515 a share. And now everyone on the M&A side of the business is focused on how CEO Paul Hudson plans to spend it.

After getting stung in France for some awkward politicking — suggesting the US was in the front of the line for Sanofi’s vaccines given American financial support for their work, versus little help from European powers — Hudson now has the much more popular task of managing a major cash cache to pull off something in the order of a big bolt-on. Or two.

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File photo (Endpoints News)

In a sting­ing set­back, Pfiz­er’s can­cer block­buster Ibrance flops in key ad­ju­vant set­ting

One of Pfizer’s top, long-running R&D catalysts has gone up in smoke, and it took an $11 billion bite of their market cap in the process.

The monitoring committee determined that Pfizer’s adjuvant study using Ibrance combined with standard endocrine therapy in an adjuvant setting for early-stage breast cancer has officially failed to make the cut. The combo failed to beat the standard alone, tripping over the futility analysis. And the Pfizer team will now wrap the study early after pumping up hopes that their blockbuster cancer therapy could find billions more by proving its efficacy for disease-free survival in a major area — something AstraZeneca just accomplished with Tagrisso to great fanfare.

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Daphne Koller, insitro CEO (insitro)

Daphne Koller’s AI start­up gets $143M in new cash from a16z, oth­ers

Biotech is becoming saturated with machine learning companies promising to reinvent and hasten drug development, but few, if any, have amassed the war chest Daphne Koller has.

Entering Tuesday, the former Stanford professor, MacArthur Fellowship recipient, Coursera founder and chief computing officer of Google’s secretive anti-aging biotech Calico had raised $100 million for her AI startup insitro. Now she’s raised $143 million more.

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