Clear up Therapeutics, Inc. (SolveTx), an oncology-focused biopharmaceutical firm, has launched with the mission of growing novel antibody-based therapies focusing on tumor-specific antigens.
The corporate’s formation reunites the previous VelosBio Inc. staff. SolveTx is totally operational with greater than 25 staff and is actively pursuing discovery and growth efforts at its 10,000-square-foot laboratory in San Diego.
Clear up Therapeutics’ administration staff is headed by chief government officer Dave Johnson. The founding members of Clear up Therapeutics from VelosBio who’ve labored with Johnson to determine the brand new firm embrace Langdon Miller, government vice chairman of growth and chief medical officer; Brian Lannutti, government vice chairman of analysis; Jeff Watkins, senior vice chairman, protein expertise; and Katti Jessen, senior vice chairman, translational sciences.
Clear up Therapeutics’ financing
Clear up Therapeutics’ preliminary $126 million Collection A financing was accomplished with a syndicate of enterprise capital companies together with Matrix Capital Administration, Decheng Capital, Basic Atlantic, and Surveyor Capital/Citadel, every represented on the corporate’s board of administrators.
“I’m delighted to reassemble this extremely collaborative and profitable staff of drug builders,” stated Dave Johnson, CEO of Clear up Therapeutics.
“Along with this unbelievable group of traders, we’re empowered to use our experience and assets towards the last word objective of prolonging and enhancing the lives of sufferers with most cancers.”
Clear up Therapeutics will use the proceeds for manufacturing of antibody-based therapeutics for nonclinical POC characterization, producer cell line technology, good manufacturing practices drug manufacturing, IND-enabling pharmacology and toxicology research, and part 1 medical program initiation.
The inspiration of Clear up Therapeutics’ method to oncology therapeutics growth is the identification of novel cancer-specific targets and the technology of monoclonal antibodies (mAbs) with supreme traits to function the backbones for antibody-based therapeutics.
The corporate has signed a licensing settlement with the College of California San Diego for a sequence of antibodies that present excessive reactivity with tumors and no or low reactivity with regular tissues, which can allow the selective killing of tumor cells and a broad therapeutic index.
Clear up Therapeutics is reviewing different potential in-licensing alternatives in addition to performing in-house antibody discovery analysis. The corporate’s focus is on the event of novel mAbs, antibody drug conjugates incorporating next-generation linker and payload constructs, and bispecific antibodies.