Xontogeny

Pleased to announce the financing of this new CNS company, Neurosterix, a spinout of several preclinical assets, including an M4 PAM for schizophrenia, and an allosteric modulator drug discovery platform from Geneva-based Addex Therapeutics.   Perceptive Advisors Xontogeny Ventures (PXV Fund II) led this $63 million financing with participation from Perceptive’s Life Sciences Fund (public equity/crossover).  Fred Callori, a colleague and Partner on the PXV Funds, will serve as Chairman of the Board and helped orchestrate this spinout along with PLF colleagues, Jeremiah Paskus, PhD and Keyvan Mirsaeedi-Farahani working closely with Addex CEO, Tim Dyer and the Addex team.  Excited to see all those involved to advance this company to clinical success! https://lnkd.in/ehFKPtGE

Excited to share the news of AbbVie’s acquisition of Landos Biopharma, Inc. for up to $212.5 million ($137.5 million upfront plus a CVR for $75 million).  It has been a long and winding road for the company that mirrored the bullish exuberance of the biotech sector and the frenzied pace of IPOs through early 2021 and the subsequent challenges that many biotech companies faced over the last few years and the requisite adjustments, pivots, financing extensions that were required to survive and potentially thrive.  A company founded by Josep B. in 2017 and one of the first collaborations with Xontogeny, the Series A was supported by Perceptive Advisors and was the first investment commitment for the inaugural Perceptive Xontogeny Venture (PXV) Fund.  After a successful Series B investment to advance the lead program and early pipeline, the company IPO’d in February 2021, one week before the XBI hit its peak at ~$175.  In the subsequent years, the company went through a CEO change, an outlicense of its original lead program, a pivot to focus on a backup product with a promising new target (NLRX1) and an extended financing led by our PXV Fund II to ensure enough runway to achieve a Phase II readout in Ulcerative Colitis.  AbbVie recognized the promise of Landos’ lead asset, NX-13, and Landos recognized AbbVie as a true leader in the IBD and immuno-inflammatory disease space to optimize the development of the asset.  Congratulations to CEO Gregory Oakes, CMO Fabio Cataldi and the entire Landos team on shepherding the company through one of the most challenging biotech markets we’ve seen in the sector’s history and kudos to AbbVie for their interest in advancing this promising asset and facilitating a win-win strategic acquisition of the company.  It was also a pleasure to serve as Chairman with an esteemed Board of Directors that included Fred Callori Tim M. Mayleben, Tiago Girao, Roger A., Alka Batycky PhD, outside counsel Eric Blanchard and CEO Greg Oakes. https://lnkd.in/eN7FDpiH

I’m thrilled to announce this acquisition of Forge Biologics by Ajinomoto Co., Inc. in what is a win-win transaction for the industry in the CDMO space! It was a privilege to serve as Chairman of the Board and to watch Timothy J. Miller, Ph.D. (he/him) (along with co-founders Erandi De Silva, PhD and m. jaysson eicholtz, along with initial seed investor Molly Bonakdarpour of Drive Capital) turn an idea and an empty warehouse in Columbus, Ohio that Tim presented to me and Gianna Hoffman-Luca in mid-2020 into a best-in-class CDMO for AAV-vector gene therapy. Weeks after that initial presentation, we decided to lead the Series A financing and Forge became our largest investment in our inaugural Perceptive Advisors Xontogeny’s PXV Fund I. In the early days of an investment in this space, one is really making a bet that the CEO can execute on the vision, attract the right talent, and be capital efficient on the path toward value creation. I can honestly say that Tim Miller delivered on everything he said he would and then some. I didn’t know he would also set a new standard for branding and marketing in the CDMO space and would build a corporate culture that serves as a Master Class for our industry. At a time when Forge was ready to scale their offerings and broaden their client base, Forge found the right partner in Ajinomoto to continue their growth trajectory and meet their long-term objectives. It has been a real pleasure to be part of the Forge journey, along with fellow Board Members, Fred Callori, Matthew Hammond, and Molly Bodakdarpour. Congrats to Tim and the entire Forge team! https://lnkd.in/e7-3Nerd