Andrew Phillips, Nexo Therapeutics CEO

Scoop: Ver­sant, NEA launch new biotech helmed by ex-CEO of pro­tein de­grad­er C4 Ther­a­peu­tics

Long-time biotech ven­ture firms Ver­sant and New En­ter­prise As­so­ciates are back­ing a new start­up run by for­mer C4 Ther­a­peu­tics chief ex­ec­u­tive An­drew Phillips.

The fledg­ling biotech has raised at least $30 mil­lion so far, ac­cord­ing to pa­per­work filed with the SEC this week. The round could bal­loon to $60 mil­lion.

Phillips, who left pro­tein degra­da­tion start­up C4 in 2020 to be a man­ag­ing di­rec­tor at Cor­morant As­set Man­age­ment, is run­ning the show of the new ven­ture as pres­i­dent, the SEC fil­ing out­lines. He al­so served as in­ter­im CEO of Cor­morant-backed and Han­soh Phar­ma­ceu­ti­cal-part­nered Blos­som Bio­science last year.

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