Greg Verdine, LifeMine

Rick Klaus­ner fronts cash for his fun­gus out­fit LifeM­ine and brings on No­bel lau­re­ate to fur­ther push can­cer dis­cov­ery

More than three years af­ter launch­ing with a $55 mil­lion Se­ries A, fun­gus play­er LifeM­ine Ther­a­peu­tics is back with a tri­fec­ta of new good­ies: cash, a promi­nent in­vestor and a No­bel lau­re­ate.

Rick Klaus­ner

Rick Klaus­ner is lead­ing a $50 mil­lion Se­ries B round with his Milky Way In­vest­ments for LifeM­ine, which he al­so co-found­ed, as it aims to ex­pand its ef­forts in bring­ing fun­gi to the fore­front of drug R&D, the com­pa­ny said Thurs­day. William Kaelin, who won the 2019 No­bel Prize in Phys­i­ol­o­gy or Med­i­cine for his work in un­der­stand­ing how cells sense and adapt to changes in oxy­gen, is al­so join­ing LifeM­ine’s board of di­rec­tors.

“[Kaelin] has that broad base of ex­pe­ri­ence in all of the ac­tiv­i­ty go­ing all the way from fun­da­men­tal bi­ol­o­gy to drug dis­cov­ery and com­pa­ny build­ing,” CEO Greg Ver­dine told End­points News. “He’s a unique re­source that brings all those in­sights and ex­per­tise to the com­pa­ny.”

Klaus­ner orig­i­nal­ly helped co-found the com­pa­ny and serves as chair­man, but this is the first time he’s par­tic­i­pat­ed in an in­vest­ment round, Ver­dine added.

The big the­o­ry at LifeM­ine has to do with se­quenc­ing fun­gi in or­der to find new break­throughs for can­cer med­i­cine. LifeM­ine says it aims to ac­com­plish that by query­ing its mas­sive fun­gal data­base us­ing search al­go­rithms and da­ta sci­ence and lo­cat­ing which fun­gal genes can be used in small mol­e­cules based on how they en­code nat­ur­al prod­ucts.

Over the last few years, LifeM­ine has built up its repos­i­to­ry to com­prise over 100,000 dif­fer­ent fun­gal strains, which in­cludes the en­tire col­lec­tions of some ma­jor play­ers like Mer­ck and Pfiz­er. Cur­rent­ly, LifeM­ine re­searchers have two drug tar­gets they’re look­ing at to ad­vance in­to the clin­ic, but Ver­dine said it’s still too ear­ly to say when they might be ready to take that step.

Ver­dine al­so de­murred on how ex­act­ly the two pro­grams func­tion and the mech­a­nisms they uti­lize, say­ing on­ly that they fall in the on­col­o­gy and T cell pro­lif­er­a­tion ar­eas. But he em­pha­sized the im­por­tance of how quick­ly tar­gets can be found and de­vel­oped us­ing LifeM­ine’s fun­gal data­base, giv­en the sim­i­lar­i­ties in hu­man and fun­gal genomes.

“For the most part, let’s say from the ze­ro yard line to the 90-yard line, the fun­gi are do­ing most of the drug dis­cov­ery,” Ver­dine said. “It’s re­al­ly about search and re­trieval, and then if nec­es­sary, clos­ing that last 10 yards to get over the goal line. That’s re­al­ly un­usu­al.”

The genes that serve as the jump­ing off point for these po­ten­tial drugs of­ten form clus­ters in spe­cif­ic parts of the fun­gal chro­mo­somes, Ver­dine added, al­low­ing for LifeM­ine to eas­i­ly pin­point where and how to look. Once re­searchers se­lect an ap­pro­pri­ate tar­get, LifeM­ine’s com­put­er forms an “avatar” mod­el based on the fun­gus for how it can be used in hu­mans.

Back in Sep­tem­ber 2017, Ver­dine said LifeM­ine was made up of on­ly about a dozen sci­en­tists and five DNA spe­cial­ists — the com­pa­ny now boasts 100 staffers. Ver­dine al­so teased a po­ten­tial deal is in the works with a ma­jor phar­ma­ceu­ti­cal play­er, and said LifeM­ine will have more to say about that lat­er this year.

LifeM­ine saw ad­di­tion­al par­tic­i­pa­tion from ex­ist­ing in­vestors GV (for­mer­ly Google Ven­tures), WuXi Health­care Ven­tures, Fore­site Cap­i­tal, Arch Ven­tures, Blue Pool Cap­i­tal and MRL Ven­tures Fund.

5AM Ven­tures: Fu­el­ing the Next Gen­er­a­tion of In­no­va­tors

By RBC Capital Markets
With Andy Schwab, Co-Founder and Managing Partner at 5AM Ventures

Key Points

Prescription Digital Therapeutics, cell therapy technologies, and in silico medicines will be a vital part of future treatment modalities.
Unlocking the potential of the microbiome could be the missing link to better disease diagnosis.
Growing links between academia, industry, and venture capital are spinning out more innovative biotech companies.
Biotech is now seen by investors as a growth space as well as a safe haven, fuelling the recent IPO boom.

Janet Woodcock (AP Images)

End­points poll: Janet Wood­cock takes the (in­ter­im) helm at the FDA. And a large ma­jor­i­ty of our read­ers want her to stay there

It’s official: Janet Woodcock is now the acting chief of the FDA.

And — according to an Endpoints poll — most industry readers would like her to stay there, although a significant minority is strongly opposed.

To recap: Joe Biden is reportedly choosing between Woodcock and former deputy FDA commissioner Joshua Sharfstein as his nominee for the permanent position. Given their respective track records, the decision is set to determine the agency’s lodestar for years to come.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 98,200+ biopharma pros reading Endpoints daily — and it's free.

An Endpoints Zoom meeting; and the email header employees will see if your company is a Premium subscriber

What’s next for End­points — and how to sup­port our in­de­pen­dent bio­phar­ma news mis­sion

The firehose of biopharma news is gushing these days.

That’s why broader and deeper is the theme for 2021 at Endpoints. You can expect new coverage outside our core R&D focus, with deeper reporting in some key areas. When John Carroll and I launched Endpoints nearly five years ago, we were wading in waist-high waters. Now we’re a team of 25 full-time staffers (and growing) with plans to cover the flood of biopharma news, Endpoints-style.

Mike Grey, Plexium chairman (Horizon Therapeutics)

Plex­i­um adds in­dus­try vet Mike Grey to the brain trust with new in­vestor cash fund­ing its pro­tein degra­da­tion play

About 15 months since closing a $28 million Series A, a San Diego protein-degradation upstart returned to the venture well Thursday with an extension of that round and some new hires, including one of the city’s best-connected biotech execs.

Plexium has bagged an additional $35 million in financing, the biotech said, money that will push undisclosed oncology and immuno-oncology programs into the clinic. In addition, longtime industry vet Mike Grey is jumping on as chairman of the board, and two others from Thursday’s leads — Adam Goulburn from Lux Capital and Rob Hopfner from Pivotal BioVentures — joined the board too.

Eli Lil­ly's an­ti­body cuts risk of Covid-19 by up to 80% among the most vul­ner­a­ble — but will it have a place next to vac­cines?

Eli Lilly says bamlanivimab lowered the risk of contracting symptomatic Covid-19 in a first-of-its-kind trial involving nursing home residents and staff, paving the way for a new option to protect against the virus.

But how big of an impact it might have, and what role it will play, at a time vaccines are being rolled out to the exact population it is targeting still remains unclear.

Among 965 participants in the study — all of whom tested negative for the coronavirus at baseline — the number of symptomatic cases reported in the bamlanivimab arm was 57% lower than that in the placebo arm (odds ratio 0.43, p=0.00021). In addition to that primary endpoint, all secondary endpoints reached statistical significance.

Michelle McMurry-Heath, BIO CEO (BIO via YouTube)

BIO looks to re­struc­ture, lay­ing off staff amid chal­lenge to the trade org's nor­mal face-to-face style

The biopharma industry, on the whole, had a red-letter year in 2020 amid Covid-19, with fundraising at an all-time high and major players speeding vaccines ahead to approval. But for BIO, the industry’s leading trade organization, the pandemic has prompted a reconsideration of the game plan.

BIO will pivot to digital as the Covid-19 pandemic continues to rage, making “some staff reductions” as it looks to bring its roughly 37,000 in-person meetings each year to the web, the organization said Thursday.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 98,200+ biopharma pros reading Endpoints daily — and it's free.

Covid-19 roundup: Italy won­ders aloud if it can sue Pfiz­er for vac­cine short­falls; US recom­mits to WHO un­der Biden ad­min­is­tra­tion

As reports crop up that deliveries of Pfizer and BioNTech’s Covid-19 vaccine are being unexpectedly cut, Italy wonders if it can take the vaccine developers to court, according to the Wall Street Journal. 

After its shipment for this week was cut by 29%, the Italian government consulted its attorney general about taking legal action, the WSJ reported. Pfizer and BioNTech had warned the EU and Canada last week that their allocations would be reduced as Pfizer upgrades its Belgium factory. What Italy says it doesn’t appreciate, though, is the short notice.

Hal Barron, GSK R&D chief (GSK via YouTube)

Glax­o­SmithK­line's $4B bis­pe­cif­ic can­cer drug al­liance with Mer­ck KGaA hit by big set­back with a PhI­II fail­ure on NSCLC

Close to 2 years ago, GSK’s R&D team eagerly agreed to pay up to $4 billion-plus to ally itself with Merck KGaA on a mid-stage bispecific called bintrafusp alfa, which intrigued them with the combination of a TGF-β trap with the anti-PD-L1 mechanism in one fusion protein.

But today the German pharma company says that their lead study on lung cancer was a bust, as independent monitors said there was no reason to believe that the experimental drug — targeting PD-L1/TGF-Beta — could beat Keytruda.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 98,200+ biopharma pros reading Endpoints daily — and it's free.

Janet Woodcock and Joshua Sharfstein (AP, Images)

Poll: Should Joshua Sharf­stein or Janet Wood­cock lead the FDA from here?

It’s time for a new FDA commissioner to come on board, a rite of passage for Joe Biden’s administration that should help seal the new president’s rep on seeking out the experts to lead the government over the next 4 years.

As of now, the competition for the top job appears to have narrowed down to 2 people: The longtime CDER chief Janet Woodcock and Joshua Sharfstein, the former principal deputy at the FDA under Peggy Hamburg. Both were appointed by Barack Obama.