Jeff Aronin's Emalex raises $35M Series C; British protein degradation biotech emerges from stealth
Jeff Aronin has a new raise in place for one of his portfolio companies.
Emalex Biosciences is banking a $35 million C round for its work on a drug for Tourette syndrome and stuttering. The biotech will use the money to advance its clinical work, with 3 Phase II studies underway for ecopipam (EBS-101).
Aronin is perhaps best known for Marathon, a controversial play that took a cheap, generic steroid through the FDA and priced it at $89,000 a year after an approval. He disbanded the company and sold the steroid to PTC.
Aronin’s umbrella company, Paragon Biosciences, led the round, with Fidelity Management & Research Company LLC and Valor Equity Partners joining in. — John Carroll
British biotech emerges from stealth to focus on protein degradation
A new protein degradation biotech emerged from stealth in England on Tuesday.
Dunad Therapeutics is looking to develop small molecule treatments that they hope will provide more direct modification of protein degradation, the biotech announced. Initial financing has come from Epidarex Capital to push the goal of building their platform, enhancing proteomics and bioinformatics infrastructure and expanding the proprietary library of covalent degraders.
“To date, there has not been a broadly applicable, plug-and-play, monovalent approach to protein degradation, and we believe Dunad’s unique platform provides the potential to deliver next-generation degrader therapeutics with advantages over traditional drugs,” acting CEO Patrick Gunning said in a statement.
Dunad was originally founded in 2020 and is based in Cambridge, UK. — Max Gelman
Evelo finds a partner for its atopic dermatitis candidate
Little Evelo Biosciences has partnered with a big global investor to develop and commercialize its atopic dermatitis candidate in the Middle East, Turkey and Africa.
The Cambridge, MA-based biotech unveiled a collaboration with Abdul Latif Jameel on Tuesday morning, though the companies are keeping the financial terms of the deal under wraps for now.
Upon reading out the first cut of data from a small study in atopic dermatitis back in December, Evelo chairman David Epstein told Endpoints News the drug, dubbed EDP1815 starts to work at two weeks. “That’s really fast,” he said.
Phase Ib data suggest the candidate is safe, according to Evelo. In addition, the candidate is in a Phase II trial for psoriasis, and two trials for Covid-19.
“I have had the privilege to work with Akram Bouchenaki, CEO of Abdul Latif Jameel Health, for more than 20 years. He has deep experience building and developing successful businesses in this region, dating back to his tenure with Gilead,” Evelo CEO Simba Gill said in a statement. — Nicole DeFeudis