Po­laris’ Amir Nashat pulls to­geth­er a $60M launch round to back the birth of a new biotech build­ing a drug de­vel­op­ment plat­form from scratch

Po­laris Part­ners man­ag­ing part­ner Amir Nashat has be­come a stu­dent of the role that bio­mol­e­c­u­lar con­den­sates play in shut­ting down or ac­ti­vat­ing pro­teins. And he’s con­vinced that he’s found a door that opens on a long path­way to a new drug plat­form.

So con­vinced that he’s gath­ered a glob­al syn­di­cate to­geth­er and pack­aged a $60 mil­lion launch round to back the 15 staffers at Dew­point Ther­a­peu­tics who have been as­sem­bled to start craft­ing a pipeline of new drugs from their work.

Richard Young

Nashat and his col­leagues know it’s ear­ly, but they’ve grown in­creas­ing­ly ex­cit­ed about the steady stream of pa­pers be­ing pub­lished on con­den­sates — or­ganelles in cells with­out mem­branes — and the role they play in dis­ease. Some of those pa­pers are from com­pa­ny founders who will now help guide Dew­point to the clin­ic, in­clud­ing the White­head In­sti­tute’s Richard Young and An­tho­ny Hy­man of the Max Planck In­sti­tute.

That sci­en­tif­ic team — backed by a promi­nent group of sci­en­tif­ic ad­vis­ers that in­cludes the ubiq­ui­tous Bob Langer at MIT — in turn helped bring in Po­laris’ syn­di­cate part­ners: Sam­sara Bio­Cap­i­tal, 6 Di­men­sions Cap­i­tal, EcoR1 Cap­i­tal, Alexan­dria Ven­ture In­vest­ments, and Leaps by Bay­er.

An­tho­ny Hy­man

“Neu­rode­gen­er­a­tion seems to be con­den­sates gone wrong,” says Nashat, who’s tak­en the CEO spot. And fo­cus­ing on mol­e­cules and reagents that can change the move­ment of a pro­tein in or out of con­den­sates looks like a promis­ing ap­proach to reg­u­lat­ing pro­tein be­hav­ior — stop­ping or en­hanc­ing the process as an av­enue to new drug de­vel­op­ment where all else has failed.

Adds Nashat: “It was a wide open can­vas.”

But not one that’s easy to paint just now. The Cam­bridge, MA-based Dew­point team, which will now dou­ble in size over the next year, doesn’t have a late-stage pre­clin­i­cal pro­gram it can shove in­to the clin­ic. The biotech is in­vest­ing in neu­rode­gen­er­a­tion, can­cer, car­dio­vas­cu­lar and oth­er ar­eas for a plat­form that could, even­tu­al­ly, have ex­ten­sive ap­pli­ca­tions. But asked about a time­line to proof-of-con­cept da­ta, Nashat frankly es­ti­mates that it will take 4-5 years to birth some hard hu­man da­ta. The mon­ey should get them through 3 years and a con­sid­er­able de-risk­ing ap­proach to their pre­clin­i­cal ef­forts

The CSO is Mark Mur­cko, an ex­pe­ri­enced and well known start­up play­er.

Mark Mur­cko

“When I think about new com­pa­nies a lot of it is about tim­ing; is it too soon or too late?” Mur­cko notes en­thu­si­as­ti­cal­ly in our in­ter­view. “Is there enough in­for­ma­tion avail­able to make you think you can take that and use it to­ward new drugs? Five years ago it was too ear­ly, too nascent.”

Now, Mur­cko adds, seems like a great time to give this a go.


Im­age: Amir Nashat. WMIF via YOUTUBE

Jean-Paul Clozel, Idorsia CEO (Patrick Straub/Keystone via AP Images)

Idor­si­a's brain bleed drug flunks PhI­II tri­al, a decade af­ter pre­vi­ous flop

Idorsia’s long journey with clazosentan came to an abrupt “unexpected result” Monday morning with a Phase III flop.

The Swiss biopharma said the drug did not meet the main goal of the late-stage REACT study, conducted in the US, Canada and Europe since early 2019.

The 409-patient trial tested the intravenous drug’s ability to prevent complications due to delayed cerebral ischemia following aneurysmal subarachnoid hemorrhage (aSAH), in which blood vessels in the brain narrow and blood accumulates around the brain’s surface, which then dials up the pressure on the brain.

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Kenji Yasukawa, Astellas CEO (Photographer: Akio Kon/Bloomberg via Getty Images)

Astel­las taps chief strat­e­gy of­fi­cer as next CEO to 'go on the ag­gres­sive'

Five years into its big R&D revamp, Astellas says it’s time for a changing of the guard.

Kenji Yasukawa, who took over as president and CEO in 2018, will step down to become chairman of the board in April, making room for Naoki Okamura to take over. Okamura joined the company in 1986 and has served in a variety of finance, business and strategy roles, including most recently as chief strategy officer.

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Clin­i­cal tri­al di­ver­si­ty da­ta show mis­match be­tween en­roll­ment and dis­ease preva­lence, GSK says

A lack of diversity in clinical trials has persisted despite decades of initiatives to try to turn the tide.

In a recent review of 17 years of clinical trials, drugmaker GSK found that there were some mismatches between the demographics of its US-based trials and how prevalent diseases were in those populations.

The results, the company says, will help GSK and others design studies that better represent epidemiological rates within races and ethnicities.

The Big Phar­ma dis­card pile; Lay­offs all around while some biotechs bid farewell; New Roche CEO as­sem­bles top team; and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

With earnings seasons in full swing, we’ve listened in on all the calls so you don’t have to. But news is popping up from all corners, so make sure you check out our other updates, too.

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Raymond Stevens, Structure Therapeutics CEO

Be­hind Fri­day's $161M IPO: A star sci­en­tist, GPCR drug dis­cov­ery and a plan to chal­lenge phar­ma in di­a­betes

What does it take to pull off a $161 million biotech IPO these days?

In Structure Therapeutics’ case, it means having a star scientist co-founder paired with the computational drug discovery company Schrödinger, $198 million in private funding from blue-chip investors, almost six years of research work on G protein-coupled receptors and a slate of oral, small-molecule drugs, with an eye on the huge and growing diabetes and weight-loss market.

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Sen. Ron Wyden (D-OR) (Francis Chung/E&E News/Politico via AP Images)

In­fla­tion re­bates in­com­ing: Wyden calls on CMS to move quick­ly as No­var­tis CEO pledges re­ver­sal

Senate Finance Chair Ron Wyden (D-OR) this week sent a letter to the head of the Centers for Medicare & Medicaid Services seeking an update on how and when new inflation-linked rebates will take effect for drugs that see major price spikes.

The newly signed Inflation Reduction Act requires manufacturers to pay a rebate to Medicare when they increase drug prices faster than the rate of inflation.

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Trodelvy notch­es a win in most com­mon form of breast can­cer

Following a promise last year to go “big and fast in breast cancer,” Gilead has secured a win for Trodelvy in the most common form.

The drug was approved to treat HR-positive, HER2-negative breast cancer patients who’ve already received endocrine-based therapy and at least two other systemic therapies for metastatic cancer, Gilead announced on Friday.

Trodelvy won its first indication in metastatic triple-negative breast cancer back in 2020, and has since added urothelial cancer to the list. HR-positive HER2-negative breast cancer accounts for roughly 70% of new breast cancer cases worldwide per year, according to senior VP of oncology clinical development Bill Grossman, and many patients develop resistance to endocrine-based therapies or worsen on chemotherapy.

Af­ter 13 years, Ramy Mah­moud steps in­to CEO seat at Opti­nose; Ru­pert Vessey set to ex­it Bris­tol My­ers in Ju­ly

After 13 years as president and COO at Optinose, Ramy Mahmoud has stepped into a new role as its CEO. He is taking the place of Peter Miller, who stepped down earlier this week, though Miller is still staying with the company as a consultant.

In 2010, the two business partners joined Optinose to take it in a new direction, transforming it from a delivery platform to product company. They previously worked together at Johnson & Johnson, when Miller was president at Janssen and Mahmoud headed medical affairs. Miller said after he learned about Optinose, “I did what I always do, which is find people smarter than me to talk with about the idea. And the first person I called was Ramy … and I said, ‘Hey, Ramy, what do you think of this technology?’”

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Ma­gen­ta halts stem cell work and may sell it­self fol­low­ing pa­tient death, clin­i­cal hold

Magenta Therapeutics said it is halting work on its stem cell transplant drug pipeline and may sell itself, a week after the company reported the death of a patient in an early stage trial of its antibody-drug conjugate.

The Cambridge, MA-based company said it will conduct a “review of strategic alternatives,” and that could include an “acquisition, merger, business combination, or other transaction.”

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