New­path Part­ners kicks off $350M fund with a wun­derkind hold­ing the bag and an all-star sci­en­tif­ic team wait­ing in the wings

The world of biotech isn’t short on big per­son­al­i­ties, but it’s not ex­act­ly com­mon to see young pro­fes­sion­als earn­ing the broad re­spect of sea­soned aca­d­e­mics. Yet, Tom Cahill and his team at New­path have snagged the sup­port of some of biotech’s biggest names in just a few short years in ex­is­tence.

How did Cahill do it? He thinks big.

New­path Part­ners kicked off its sec­ond ven­ture fund Wednes­day, dubbed New­path Fund II, with $350 mil­lion to sup­port re­search from some of the best and bright­est re­searchers and se­r­i­al biotech en­tre­pre­neurs wait­ing in the wings.

Un­der Cahill’s lead­er­ship, New­path has plant­ed its flags in some of the biggest biotech launch­es in the past year, in­clud­ing the $315 mil­lion launch of Prime Med­i­cines in Ju­ly, the $500 mil­lion launch of Neumo­ra Ther­a­peu­tics and a $125 mil­lion launch for Chro­ma Med­i­cine last month.

Cahill, a Duke grad­u­ate with on­ly a few years in ven­ture cap­i­tal, has punched above his weight in as­sem­bling a who’s who list of aca­d­e­m­ic part­ners, in­clud­ing (but cer­tain­ly not lim­it­ed to) best­selling au­thor and Co­lum­bia re­searcher Sid­dhartha Mukher­jee, the Broad In­sti­tute’s gene edit­ing gu­ru David Liu and leg­endary Howard Hugh­es Med­ical In­sti­tute re­searcher Ron Vale.

One of those fre­quent col­lab­o­ra­tors is Stu­art Schreiber, the famed co-founder of the Broad, who has worked with Cahill’s team launch­ing Ko­jin Ther­a­peu­tics in Ju­ly and build­ing the stealth biotech Kis­bee Ther­a­peu­tics. Get­ting backed by Schreiber, whose long shad­ow Cahill al­le­go­rized to End­points News as the “Genghis Khan of biotech” (he meant that in a nice way), is no mi­nor achieve­ment.

But Schreiber said Cahill’s pre­co­cious tal­ent in iden­ti­fy­ing the next sci­en­tif­ic break­through and his earnest mis­sion to make the world a bet­ter place has earned the trust of oth­er­wise jad­ed re­searchers who have been in and around the game for years.

“Tom Cahill is a force of na­ture and a sin­gu­lar­i­ty in many ways,” he said. “This is a guy who is all about val­ues, and he’s very in­ter­est­ed in dis­rup­tive ideas that are the right ideas. He has a vo­ra­cious ap­petite for things that if suc­cess­ful will change the world.”

In­deed, Cahill is many things — and sim­ple isn’t one of them. On our call, Cahill de­scribed the evo­lu­tion of biotech as part of a great sci­en­tif­ic pro­gres­sion dat­ing back to the Re­nais­sance. Where New­path fig­ures in­to that ex­pan­sive his­to­ry, Cahill says, is em­pow­er­ing the most for­ward-think­ing re­searchers to pur­sue the biggest pos­si­ble ideas, re­gard­less of tech­ni­cal chal­lenges or a prece­dent of fail­ure.

In short, he said: “We’re not here that long so let’s do some cool work.”

That dri­ve to help the best sci­ence have the best pos­si­ble chance at suc­cess means Cahill has been more than hap­py to col­lab­o­rate with oth­er ven­ture part­ners on dri­ving promis­ing com­pa­nies through stealth and be­yond. In two of the three ex­am­ples cit­ed above, Cahill’s team worked close­ly with Bob Nelsen’s out­fit at Arch Ven­ture — a fre­quent col­lab­o­ra­tor — which Cahill de­scribed as like-mind­ed in terms of dri­ving the next gen­er­a­tion of biotech. Nelsen him­self is known as a per­son­al­i­ty in the world of biotech, and his work both at Arch and dis­rup­tive man­u­fac­tur­ing out­fit Re­silience has caught more than a few eyes through­out the years.

With $350 mil­lion to play with, Cahill said the plan is to seed or fi­nance five more star­tups out­side of the four that are cur­rent­ly in the works, in­clud­ing his team’s work with Schreiber on Kis­bee. In terms of what those com­pa­nies are work­ing on? We’ll have to wait and see.

But Cahill did of­fer a bit of in­sight in­to what ar­eas in­ter­est him, in­clud­ing neu­ropsy­chol­o­gy, which he called the dis­ease ar­eas of the next 10 years, and de­liv­ery tech. If you’ve been fol­low­ing along with biotech the past cou­ple years, you will have no­ticed that neu­ro­science has seen a resur­gence among drug de­vel­op­ers as long sought-af­ter drug tar­gets have sud­den­ly shown promise with the rise of new ther­a­peu­tic modal­i­ties.

So where will Cahill go next? Stay tuned to find out.

MedTech clinical trials require a unique regulatory and study design approach and so engaging a highly experienced CRO to ensure compliance and accurate data across all stages is critical to development milestones.

In­no­v­a­tive MedTech De­mands Spe­cial­ist Clin­i­cal Tri­al Reg­u­la­to­ry Af­fairs and De­sign

Avance Clinical is the Australian CRO for international biotechs providing world-class clinical research services with FDA-accepted data across all phases. With Avance Clinical, biotech companies can leverage Australia’s supportive clinical trials environment which includes no IND requirement plus a 43.5% Government incentive rebate on clinical spend. The CRO has been delivering clinical drug development services for international biotechs for FDA and EMA regulatory approval for the past 24 years. The company has been recognized for the past two consecutive years with the prestigious Frost & Sullivan CRO Best Practices Award and a finalist in Informa Pharma’s Best CRO award for 2022.

Tony Coles, Cerevel CEO

Cerev­el takes the pub­lic of­fer­ing route, with a twist — rais­ing big mon­ey thanks to ri­val da­ta

As public biotechs seek to climb out of the bear market, a popular strategy to raise cash has been through public offerings on the heels of positive data. But one proposed raise Wednesday appeared to take advantage not of a company’s own data, but those from a competitor.

Cerevel Therapeutics plans to raise $250 million in a public offering and another $250 million in debt, the biotech announced Wednesday afternoon, even though it did not report any news on its pipeline. However, the move comes days after rival Karuna Therapeutics touted positive Phase III data in schizophrenia, a field where Cerevel is pursuing a similar program.

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Who are the women blaz­ing trails in bio­phar­ma R&D? Nom­i­nate them for End­points' 2022 spe­cial re­port

Over the past three years, Endpoints News has spotlighted 60 women who have blazed trails and supercharged R&D across the biopharma world. And judging from the response we’ve received, to both our special reports and live events, telling their stories — including any obstacles they may have had to overcome — has inspired our readers in many different ways.

But change takes time, and the fact remains that women are still underrepresented at the upper ranks of the drug-making world.

Up­dat­ed: Amid mas­sive re­struc­tur­ing, Bio­gen looks to re­duce phys­i­cal pres­ence in Boston

Biogen is putting a sizable chunk of office and research space in Kendall Square and Weston, MA up for sublease, marking another big change as the biotech grapples with the aftershock of a disastrous and controversial rollout for its Alzheimer’s drug.

The subbleases are “part of Biogen’s overall implementation of the ‘Future of Work,’ which is allowing us to optimize our footprint and reduce the amount of space we occupy, taking into consideration new elements such as the hybrid work model,” Biogen spokesperson Ashleigh Koss wrote in a statement to Endpoints News, adding that the company has had subleases across several buildings for years.

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Bernat Olle, Vedanta Biosciences CEO

Cit­ing 'chal­leng­ing eco­nom­ic en­vi­ron­ment,' PhI­II-ready mi­cro­bio­me biotech lays off 20% of staffers

The market downturn isn’t just sweeping up public biotechs.

Vedanta Biosciences, a developer of oral drugs derived from the human microbiome, is laying off about 20% of its staff — an unfortunately common occurrence these days. But CEO Bernat Olle took the unusual step of sharing the decision on LinkedIn and offering to connect the employees being let go with any company that’s hiring in their areas.

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Hervé Affagard, MaaT Pharma CEO

One year in­to clin­i­cal hold, FDA has more ques­tions about 'pooled' mi­cro­bio­me ther­a­py

The FDA is still wary about a trial testing a microbiome therapy in patients with steroid-resistant acute graft-versus-host disease (aGVHD).

A year after MaaT Pharma’s IND application in the US was first met with a clinical hold, the French biotech said the agency is maintaining the hold. The crux of the matter, MaaT suggested, has to do with the way it puts together its drug candidate, which is administered as an enema (i.e. an injection of fluid into the bowel).

Lorenz Mayr, Vector BioPharma CEO (PhoreMost)

Up­dat­ed: 'Close to the mid­dle': Ver­sant launch­es Vec­tor with 'gut­less ade­n­ovirus' de­liv­ery method

Most of the gene therapy world centers around viral vectors, but a few biotechs have sprung up in recent years to try and avoid the safety issues that can come with adeno-associated viruses.

A new biotech has emerged to straddle somewhere “close to the middle,” in the words of Alex Mayweg, Versant managing director and board member of the incubator’s latest startup, Vector BioPharma.

Pfiz­er launch­es re­bate pro­gram for rare dis­ease pa­tients who have to stop tak­ing Panzy­ga

Pfizer is launching its second-ever rebate program, this time for Panzyga, its treatment for a rare neurological disease of the peripheral nerves.

The program began last month, according to STAT which first reported the news, and offers a refund of out-of-pocket costs for patients who must discontinue their course before the fifth treatment for “clinical reasons.”

Panzyga was approved back in 2018 to treat primary immunodeficiency (PI) in patients two years and older and chronic immune thrombocytopenia (cITP) in adults. It has since picked up an indication in chronic inflammatory demyelinating polyneuropathy (CIDP), a condition that’s characterized by weakness of the arms or legs, tingling or numbness, and a loss of deep tendon reflexes, according to the NIH.

Horizon's back-to-school campaign for children with cystinosis includes an all about me poster as part of a care package box.

Hori­zon read­ies kids and fam­i­lies for back to school with week­long ac­tiv­i­ties around rare dis­ease cysti­nosis

Going back to school is usually a bumpy readjustment from summer freedom for all kids, but especially for kids with chronic health conditions. Horizon Therapeutics is hoping to help smooth the way for some who have the rare disease cystinosis. Cystinosis is a genetic disease that causes the amino acid cystine to build up in different tissues and organs.

The “Gear Up” for school campaign is running all week with different online and at-home events and activities for families and children with cystinosis. Each family who signed up receives a care package mailed to their home including an activity coloring book “Michael’s Show-and-Tell.” The book tells Michael’s story about living with cystinosis while offering kids matching, coloring and finding object games along with information.

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