JSR Life Sciences spawns new venture fund; IL-2 biotech completes merger with trivia company subsidiary
There’s a new venture fund in town — this one led by a former Eli Lilly researcher with a seasoned resume that includes roles at Prudential Equity, BMO Capital Markets, and Edison Group.
JSR Life Sciences unveiled its new Life Sciences Corporate Venture Fund on Tuesday, with the goal of investing in “multiple deals within the next few years.” The initial focus will be emerging companies, according to a statement.
The fund is led by Jason Yuanxin Zhang, who holds a P.h.D in botanical sciences from the University of Hawaii. He served as a postdoc scientist at Lilly more than 20 years ago, and most recently came from Humanwell Healthcare Group where he was COO and managing director of international investment and business development.
“Initiating this fund and offering the ability to invest in the life sciences sector is a natural extension of our core expertise,” JSR CTO Jean-Pierre Wery said in a statement. — Nicole DeFeudis
IL-2 biotech completes merger with trivia company subsidiary
Brooklyn ImmunoTherapeutics has completed its reverse merger with NTN Buzztime, the companies announced Thursday evening.
The combined firm will keep the Brooklyn moniker and function as a wholly-owned subsidiary of NTN Buzztime, which is an interactive entertainment company that broadcasts trivia and other games to bars and restaurants throughout the US. With the deal completed, Brooklyn will now focus on advancing its lead compound, dubbed IRX-2.
“We look forward to continuing to evaluate IRX-2, a human cell-derived IL-2 therapeutic in neoadjuvant (pre-surgical) and adjuvant (post-operative) treatment for advanced head and neck squamous cell cancer,” Brooklyn CEO Ronald Guido said in a statement. — Max Gelman