Ideaya wraps $50M IPO to fu­el clin­i­cal dri­ve on syn­thet­ic lethal­i­ty

Ideaya Bio­sciences has fol­lowed sev­er­al oth­er down­sized IPOs on­to the Nas­daq, be­gin­ning a new pub­lic life with a $50 mil­lion raise and the tick­er sym­bol $IDYA.

Led by CEO Yu­jiro Ha­ta, an ex­pe­ri­enced biotech ex­ec who built the South San Fran­cis­co com­pa­ny from scratch while an en­tre­pre­neur-in-res­i­dence at 5AM, Ideaya is all about tar­get­ed can­cer ther­a­pies and syn­thet­ic lethal­i­ty — the strat­e­gy of tar­get­ing two genes si­mul­ta­ne­ous­ly for a more po­tent ef­fect. It’s start­ing out with an ear­ly-stage drug picked up for a song from No­var­tis.

Yu­jiro Ha­ta Ideaya

The plan is to take the drug, a PKC in­hibitor for can­cers with GNAQ and GNA11 mu­ta­tions, straight in­to a bas­ket study in sol­id tu­mors, then fol­low that with a slate of pre­clin­i­cal pro­grams com­pos­ing what Ha­ta sees as the most “di­verse port­fo­lio” in the pre­ci­sion med­i­cine field.

Pri­or to the IPO, he’s amassed $140 mil­lion in two fi­nanc­ing rounds from some of the biggest in­vestor names, in­clud­ing Cel­gene, No­var­tis and Roche as well as 6 Di­men­sions, Per­cep­tive, BVF, Nex­tech, GV and WuXi Health­care Ven­tures. 5AM and Canaan held the biggest chunks of stock.

Key to Ideaya’s suc­cess would be the pre­cise seg­men­ta­tion of pa­tients us­ing mol­e­c­u­lar di­ag­nos­tics — a boom­ing field ripe for tech­ni­cal in­no­va­tions and cap­i­tal in­jec­tion of its own.

Case in point: Per­son­alis, is seek­ing $115 mil­lion on the promise of the genome se­quenc­ing tech it sells to phar­mas (in­clud­ing Mer­ck and Pfiz­er), biotechs, uni­ver­si­ties and oth­er med­ical re­search in­sti­tutes.

Its Im­munoID NeXT plat­form, Per­son­alis says, is “the first tech­nol­o­gy to en­able com­pre­hen­sive analy­sis of both a tu­mor and its im­mune mi­croen­vi­ron­ment from a sin­gle sam­ple and pro­vides util­i­ty across im­muno-on­col­o­gy, tar­get­ed, and per­son­al­ized ther­a­pies.” And that’s one of sev­er­al prod­ucts it plans to com­mer­cial­ize lat­er this year.

The pro­ceeds will fund every­thing from R&D and in­fra­struc­ture to hir­ing and mar­ket­ing, the com­pa­ny wrote in an SEC fil­ing. Light­speed Ven­ture Part­ners and Abing­worth Bioven­tures V each con­trol a quar­ter of the shares.


Im­age: Shut­ter­stock

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Gray specks on the screen show her cells that scientists reprogrammed with the goal of zeroing in on a custom medicine. McPherson co-founded the lab, Everlum Bio, to spark a treatment for Rose — and others like her. A regarded singer-songwriter, McPherson never imagined going into drug development.

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Christophe Bourdon, Leo Pharma CEO

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As Leo Pharma aims to take on heavyweight champ Dupixent in atopic dermatitis, the company is launching “AD Days Around the World,” an awareness campaign documenting real patient stories across Europe.

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Amy West, Novo Nordisk head of US digital innovation and transformation (Illustration: Assistant Editor Kathy Wong for Endpoints News)

Q&A: No­vo Nordisk dig­i­tal in­no­va­tion chief Amy West dis­cuss­es phar­ma pain points and a health­care 'easy but­ton’

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Marc Dunoyer, Alexion CEO (AstraZeneca via YouTube)

Up­dat­ed: As­traZeneca nabs a small rare dis­ease gene ther­a­py play­er for 667% pre­mi­um

AstraZeneca is kicking off the fourth quarter with a little M&A Monday for a gene editing player recently overcoming a second clinical hold to its only program in human studies.

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Dave Marek, Myovant CEO

My­ovant board balks as ma­jor­i­ty own­er Sum­it­o­mo swoops in with a $2.5B deal to buy them out

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Sumitomo is bidding $22.75 a share for the outstanding stock, which now represents 48% of the company after Sumitomo bumped its ownership since the original deal with Roivant. Myovant, however, created a special committee on the board, and they’re shaking their heads over the offer.

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