BenchSci founders, clockwise from top left: Liran Belenzon, Elvis Wianda, David Chen and Tom Leung

F-Prime backs a niche AI soft­ware start­up hunt­ing lofty goals in $22M Se­ries B

For many of the AI com­pa­nies sprout­ing on the bio­phar­ma field, val­i­da­tion — of­ten mean­ing con­fir­ma­tion of whether the tar­gets and drugs they iden­ti­fied or gen­er­at­ed would ac­tu­al­ly work — won’t come in years, if at all. But for Bench­Sci, the drug hunt­ing field is their home turf.

To be sure, the Toron­to-based start­up is do­ing some­thing very dif­fer­ent from the rest of the pack. Rather than stak­ing claims about the re­sults of drug dis­cov­ery, it’s out to change the process by hun­ker­ing down on a spe­cif­ic prob­lem: help­ing sci­en­tists se­lect the right reagents to con­duct their pre­clin­i­cal ex­per­i­ments.

Hav­ing start­ed out with an an­ti­body se­lec­tion ser­vice 18 months ago, Bench­Sci is now ready to roll out a broad­er reagent se­lec­tion plat­form and ex­pand the clien­tele from aca­d­e­m­ic in­sti­tu­tions and Big Phar­ma to biotechs — thanks to a $22 mil­lion cash in­jec­tion.

In con­trast with the clin­i­cal or com­mer­cial realm, Bench­Sci found that its chal­lenge wasn’t to com­pete with ri­val ven­dors but to con­vince in­vestors that there’s a mar­ket, CEO Li­ran Be­len­zon told End­points News.

“There is no soft­ware com­pa­ny in pre­clin­i­cal,” he said, leav­ing sci­en­tists to work on soft­ware with in­ter­faces that “look like they’re from the 1990s.”

But the ex­pe­ri­ence of his co-founder and CSO Tom Le­ung, who saw first hand how an in­ap­pro­pri­ate an­ti­body could cost him rare pa­tient sam­ples and lead to month­long de­lays, and sub­se­quent chats with oth­er re­searchers con­vinced them there’s an op­por­tu­ni­ty here. Col­lat­ing da­ta from open ac­cess jour­nals and ink­ing deals with big name pub­lish­ers like Springer Na­ture, Wi­ley and JA­MA, Bench­Sci came up with a data­base of sci­en­tif­ic lit­er­a­ture that they then teach the com­put­er to read.

“So the sci­en­tist ba­si­cal­ly asks our sys­tem the ques­tion: Out of those 5,000 reagents or an­ti­bod­ies that are out there, which one will work on BR­CA1, in this tis­sue, in this spe­cif­ic cell line, in this mod­el, with this spec­i­fi­ca­tion,” Be­len­zon said, “and we re­al­ly nar­row down these 4 or 5,000 to 2 or 3 and then we say, hey, these are the an­ti­bod­ies most like­ly to work in your ex­per­i­ment, and here’s all the sci­en­tif­ic da­ta and the ex­per­i­men­tal re­sults that this spe­cif­ic reagent has gen­er­at­ed and sci­en­tists can ac­tu­al­ly see those re­sults and val­i­date it as well.”

That means con­dens­ing the whole process of se­lect­ing reagents — tra­di­tion­al­ly done by tri­al and er­ror — from 12 weeks to 30 sec­onds, ac­cord­ing to the com­pa­ny, re­duc­ing waste by 70% and sav­ing mil­lions of dol­lars in hard cost.

It’s not quite shav­ing years and tens of mil­lions off the drug dis­cov­ery process as oth­ers have promised (and many have doubt­ed). Yet Bench­Sci still cites some big num­bers: a $10.2 bil­lion per year op­por­tu­ni­ty for sav­ings on reagents, de­duced from the es­ti­mate that $28 bil­lion each year is wast­ed on ir­re­pro­ducible re­search, with reagents and ref­er­ence ma­te­ri­als ac­count­ing for 36.1%.

F-Prime Cap­i­tal, which led the Se­ries B, and oth­er in­vestors in­clud­ing North­leaf Cap­i­tal Part­ners, Gra­di­ent Ven­tures, In­ovia Cap­i­tal, Gold­en Ven­tures and Re­al Ven­tures would love to see them get there. But will they?

“They would be a per­fect ac­qui­si­tion tar­get for Gene­script, Qi­a­gen, Ther­mo Fish­er, or oth­er an­ti­body and reagent mak­er,” Alex Zha­voronkov, founder and CEO of AI drug dis­cov­ery start­up In­sil­i­co Med­i­cine, wrote to End­points. “With this mod­el they can quick­ly get to sub­stan­tial rev­enue pos­si­bly in tens of mil­lions but the mar­ket size is rather lim­it­ed and it will be dif­fi­cult to grow.”

As he pre­pares to dou­ble the size of his team to 140 to sup­port the growth in­to re­com­bi­nant pro­teins, RNAi, CRISPR, cell lines and more, Be­len­zon sees oth­er­wise.

“To­day in an age where you have AI com­pa­nies gen­er­at­ing more and more and more po­ten­tial­ly great tar­gets to study, there needs to be a com­pa­ny that helps to study those tar­gets faster and bet­ter and cheap­er,” he said. “That’s re­al­ly what we are fo­cus­ing on.”

How one start­up fore­told the neu­ro­science re­nais­sance af­ter '50 years of shit­show'

In the past couple of years, something curious has happened: Pharma and VC dollars started gushing into neuroscience research.

Biogen’s controversial new Alzheimer’s drug Aduhelm has been approved on the basis of removing amyloid plaque from the brain, but the new neuro-focused pharma and biotechs have much loftier aims. Significantly curbing or even curing the most notorious disorders would prove the Holy Grail for a complex system that has tied the world’s best drug developers in knots for decades.

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Bob Bradway, Amgen CEO (Scott Eisen/Bloomberg via Getty Images)

Am­gen bel­lies back up to the M&A ta­ble for an­oth­er biotech buy­out, this time with a $2.5B deal for an an­ti­body play­er fo­cused on PS­MA

Five months after Amgen CEO Bob Bradway stepped up to the M&A table and acquired Five Prime for $1.9 billion, following up with the smaller Rodeo acquisition, he’s gone back in for another biotech buyout.

This time around, Amgen is paying $900 million cash while committing up to $1.6 billion in milestones to bag the privately held Teneobio, an antibody drug developer that has expertise in developing new bispecifics and multispecifics. In addition, Amgen cited Teneobio’s “T-cell engager platform, which expands on Amgen’s existing leadership position in bispecific T-cell engagers by providing a differentiated, but complementary, approach to Amgen’s current BiTE platform.”

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Ryan Watts, Denali CEO

De­nali slips as a snap­shot of ear­ly da­ta rais­es some trou­bling ques­tions on its pi­o­neer­ing blood-brain bar­ri­er neu­ro work

Denali Therapeutics had drummed up considerable hype for their blood-brain barrier technology since launching over six years ago, hype that’s only intensified in the last 14 months following the publications of a pair of papers last spring and proof of concept data earlier this year. On Sunday, the South San Francisco-based biotech gave the biopharma world the next look at in-human data for its lead candidate in Hunter syndrome.

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Why is On­col­o­gy Drug De­vel­op­ment Re­search Late to the Dig­i­tal Bio­mark­ers Game?

During the recent Annual ASCO Meeting, thousands of cancer researchers and clinicians from across the globe joined together virtually to present and discuss the latest findings and breakthroughs in cancer research and care. There were more than 5000+ scientific abstracts presented during this event, yet only a handful involved the use of motion-tracking wearables to collect digital measures relating to activity, sleep, mobility, functional status, and/or quality of life. Although these results were a bit disappointing, they should come as no surprise to those of us in the wearable technology field.

Art Levinson (Calico)

Google-backed Cal­i­co dou­bles down on an­ti-ag­ing R&D pact with Ab­b­Vie as part­ners ante up $1B, start to de­tail drug tar­gets

Seven years after striking up a major R&D alliance, AbbVie and Google-backed anti-aging specialist Calico are doubling down on their work with a joint, $1 billion commitment to continuing their work together. And they’re also beginning to offer some details on where this project is taking them in the clinic.

According to their statement, each of the two players is putting up $500 million more to keep the labs humming.

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Andrea Pfeifer, AC Immune CEO (AC Immune)

Look­ing to repli­cate Covid-19 suc­cess in neu­ro, BioN­Tech back­ers bet on AC Im­mune and its new­ly-ac­quired Parkin­son's vac­cine

The German billionaires behind BioNTech have found a new vaccine project to back.

Through their family office Athos Service, twin brothers Thomas and Andreas Strüngmann are leading a $25 million private placement into Switzerland’s AC Immune — which concurrently announced that it’s shelling out $58.7 million worth of stock to acquire Affiris’ portfolio of therapies targeting alpha-synuclein, including a vaccine candidate, for Parkinson’s disease.

Rajiv Shukla, Constellation Alpha Holdings

Can­del gets busy IPO week mov­ing with down­sized raise as Ra­jiv Shuk­la's third SPAC goes pub­lic

Editor’s note: Interested in following biopharma’s fast-paced IPO market? You can bookmark our IPO Tracker here.

In a week that’s expected to see several biotechs price their IPOs, Candel Therapeutics got things kicked off Tuesday with a muted opener.

The company helmed by former GlaxoSmithKline vet Paul Peter Tak made its way to Nasdaq thanks to a $72 million raise, which was downsized by about 15% than originally anticipated, according to Renaissance Capital. Candel priced at $8 per share after initially seeking to launch in the $13 to $15 range.

Busi­ness­es and schools can man­date the use of Covid-19 vac­cines un­der EUAs, DOJ says

As public and private companies stare down the reality of the Delta variant, many are now requiring that their employees or students be vaccinated against Covid-19 prior to attending school or to returning or starting a new job. Claims that such mandates are illegal or cannot be used for vaccines under emergency use authorizations have now been dismissed.

Setting the record straight, the Department of Justice on Monday called the mandates legal in a new memo, even when used for people with vaccines that remain subject to EUAs.

Ugur Sahin, BioNTech CEO (Bernd von Jutrczenka/dpa via AP Images)

BioN­Tech is spear­head­ing an mR­NA vac­cine de­vel­op­ment pro­gram for malar­ia, with a tech trans­fer planned for Africa

Flush with the success of its mRNA Covid-19 vaccine, BioNTech is now gearing up for one of the biggest challenges in vaccine development — which comes without potential profit.

The German mRNA pioneer says it plans to work on a jab for malaria, then transfer the tech to the African continent, where it will work with partners on developing the manufacturing ops needed to make this and other vaccines.

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