pharmaceutical industry

Encycle Therapeutics raises $2.85 million to advance macrocycle platform and pipeline

September 30, 2015
Susanne Staer
Encycle Therapeutics

TORONTO, ON (September 30, 2015) — Encycle Therapeutics, Inc., a University of Toronto spin-off company created in partnership with MaRS Innovation, announced today that it has completed a $2.85 million (CAD) financing led by Takeda Pharmaceutical Company Ltd. through its venture capital arm, Takeda Ventures, Inc., with Accel-Rx Health Sciences Accelerator, BDC Capital and MaRS Investment Accelerator Fund.

This news was covered in PEHub, BetaKit and TechVibes.

The funding will support ongoing development of Encycle’s unique nacellin platform chemistry and advance the company’s pipeline of novel therapeutics. It will also allow the company to build on research collaborations with several pharmaceutical companies and ultimately position it for a series A transaction and/or additional strategic partnerships.

“Our proprietary chemistry has the potential to unlock myriad therapeutic avenues, including via intracellular protein-protein interactions that cannot be targeted with conventional therapeutics,” said Dr. Jeffrey Coull, president and CEO of Encycle Therapeutics; upon the closing, Coull joined Encycle’s board of directions. “This funding is critical to enable the company to further explore the vast potential of our technology and to de-risk it to the extent that major transactions will be enabled.”

“Our goal is to make an impact on patients’ lives by turning science and technology into life-changing medicines. We are enthusiastic about Encycle’s technology and its potential in the context of ‘undruggable’ proteins,” said Dr. Ilan Zipkin, senior investment director at Takeda.

“Encycle’s growing momentum reflects MaRS Innovation’s efforts to shift the Canadian paradigm for technology transfer,” said Dr. Raphael Hofstein, chairman of the Encycle Therapeutics Board of Directors and president and CEO of MaRS Innovation. “This company began with promising research in Dr. Andrei Yudin’s laboratory at the University of Toronto. With crucial support from many players along the Ontario-Quebec life sciences corridor, MaRS Innovation collaborated with him to package and protect the technology, launch the company and hire experienced management. The success of this funding round bodes well for its future growth and success.”

Ontario Government, University of Toronto, and MaRS secure Johnson & Johnson Innovation, JLABS for Toronto – first JLABS Incubator outside of United States

September 8, 2015
Susanne Staer
Centre for Addiction and Mental Health (CAMH)

Partners for JLABS @ Toronto include Janssen Inc., MaRS Innovation and seven of MI’s 15 member institutions

Minister of Economic Development, Employment and Infrastructure Brad Duguid announces the arrival of JLABS @ Toronto in the MaRS Discovery District. First row, left to right: Chris Halyk, president of Janssen Inc.; Melinda Richter, head of JLABS, Johnson & Johnson; Dr. Meric Gertler, president, University of Toronto; Minister Duguid; Dr. Ilse Treuricht, CEO MaRS Discovery District; Dr. Raphael (Rafi) Hofstein, president and CEO MaRS Innovation, and Robert Urban, head of Johnson & Johnson Innovation Boston. Second row: Dr. Robert Howard, president and CEO St. Michael's Hospital; Dr. Catherine Zahn, president and CEO CAMH; Dr. Barry McLellan, president and CEO Sunnybrook Health Sciences Centre; Dr. Peter Pisters, president & CEO University Health Network; Dr. Jim Woddgett, director of research, Lunenfeld-Tanenbaum Research Institute, Mount Sinai Hospital; and Dr. Michael Apkon, president and CEO, The Hospital for Sick Children. — Minister of Economic Development, Employment and Infrastructure Brad Duguid announces the arrival of JLABS @ Toronto in the MaRS Discovery District. First row, left to right: Chris Halyk, president of Janssen Inc.; Melinda Richter, head of JLABS, Johnson & Johnson; Dr. Meric Gertler, president, University of Toronto; Minister Duguid; Dr. Ilse Treuricht, CEO MaRS Discovery District; Dr. Raphael (Rafi) Hofstein, president and CEO MaRS Innovation, and Robert Urban, head of Johnson & Johnson Innovation Boston. Second row: Dr. Robert Howard, president and CEO St. Michael’s Hospital; Dr. Catherine Zahn, president and CEO CAMH; Dr. Barry McLellan, president and CEO Sunnybrook Health Sciences Centre; Dr. Peter Pisters, president & CEO University Health Network; Dr. Jim Woddgett, director of research, Lunenfeld-Tanenbaum Research Institute, Mount Sinai Hospital; and Dr. Michael Apkon, president and CEO, The Hospital for Sick Children.

TORONTO, Sept. 8, 2015 — The Ontario Government, University of Toronto, and MaRS Discovery District (MaRS) today announced a collaboration with Janssen Inc. to launch the successful Johnson & Johnson Innovation, JLABS incubator model in Toronto.

This announcement has been covered in the Toronto Star, Metro News Canada, Sing Tao Daily, OurWindsor.ca, FierceBiotech, BioCentury, MedCity News, BioSpace, Biotechnology Focus, Lab Product News, ChinaNews.com, Pan European Networks, Economic Development Blog, BetaKit, Torontoist, and TechVibes.

It was also featured news on Rx&D‘s and Life Sciences Ontario‘s websites.

The new facility, called JLABS @ Toronto, will open in spring of 2016 at MaRS Discovery District and will support start-ups with lab space, programs, and potential investment partners as they work to build important, successful early-stage companies.

“The arrival of the Johnson & Johnson Innovation, JLABS model to MaRS’ West Tower reinforces Ontario’s position as one of the world’s leading life sciences clusters,” said Brad Duguid, Minister of Economic Development, Employment and Infrastructure. “JLABS @ Toronto will support researchers and entrepreneurs across the province and accelerate the development of Ontario companies while connecting Toronto to potential Johnson & Johnson collaborators and investors.”

“Research and innovation are fundamental to the mission of the University of Toronto,” said Dr. Meric S. Gertler, President, University of Toronto. “We host a vibrant entrepreneurial ecosystem featuring nine campus-led accelerators under the umbrella of our Banting & Best Centre for Innovation and Entrepreneurship. The addition of JLABS to this ecosystem will further propel the creation of new companies and new jobs, and ultimately new healthcare solutions that will benefit individuals and our society for years to come.”

“Toronto is home to a vibrant and prolific healthcare and life sciences community led by academic hospitals, world-class research institutions, top scientists, and a strong start-up ecosystem. For these reasons, Toronto is a natural choice for our first international expansion of JLABS,” said Melinda Richter, Head of JLABS. “The Johnson & Johnson Family of Companies has long been active within the Toronto Ontario community, forming many important collaborations. Today we are pleased to begin an even deeper relationship with this important community. Our new location, within a University of Toronto site, close to our hospital collaborators, and neighbouring the financial centre of Canada, will deliver great opportunities and impact for emerging biomedical technology entrepreneurs.”

Encycle Therapeutics working with major pharmaceutical companies to design rules for drugs meant to be swallowed

CQDM and MaRS Innovation investing in new Encycle project to determine rules for making peptide drugs orally bioavailable

CQDM announcement — Encycle Therapeutics is generating a better understanding of the chemical properties required to make small peptide-like molecules, which Encycle calls nacellins, orally bioavailable. With these rules, Encycle will target many of the proteins that are currently regarded as undruggable.

PHILADELPHIA (June 16, 2015) — FiercePharma has predicted that the pharmaceutical industry stands to lose $44 billion in drugs going off patent in 2015. The industry is searching for new therapeutics to replenish their pipelines while tackling existing and new drug receptor targets within the cell, improve patient care and lower administrative costs. In this context, drugs that can be orally swallowed, known as orally-bioavailable drugs, are in great demand.

Encycle Therapeutics Inc., a biotechnology company founded by Dr. Andrei Yudin of the University of Toronto in partnership with MaRS Innovation, is a Canadian start-up emerging as a market leader in finding orally-bioavailable molecules. Today, the company announced $840,000 in funding from CQDM and MaRS Innovation to generate a better understanding of the chemical properties required to make small peptide-like molecules, which Encycle calls nacellins, orally bioavailable.

This release was covered in Biotechnology Focus and BioSpace.

This funding, generated through MaRS Innovation’s strategic partnerships programs with Pfizer Inc. and GSK, and CQDM’s global membership program with Pfizer Inc. and Merck, brings Encycle’s total funding to approximately $4 million, including an earlier investment in 2011 from Ontario Centres of Excellence.

Dr. Diane Gosselin, president and CEO of CQDM, together with Dr. Raphael (Rafi) Hofstein, president and CEO of MaRS Innovation, made the announcement this morning at the 2015 BIO International Convention in the presence of Dr. Reza Moridi, Ontario Minister of Research and Innovation and Minister of Training, Colleges and Universities, and Dr. Gaétan Barrette, Quebec Minister of Health and Social Services.

“Encycle’s proprietary cyclized peptides are very different from other types of therapeutics and should enable us to target many of the proteins that are currently regarded as undruggable,” says Dr. Jeffrey Coull, Encycle’s president and CEO. “Our research suggests that, due to their unique properties, it’s easier for our peptides to cross cell membranes than it is for other types, allowing them to be taken orally and access proteins on the inside of a cell. Working on this project together with Pfizer and Merck through CQDM, as well as Pfizer and GSK through MaRS Innovation, we now wish to develop a more precise understanding of the relationship between their structure and composition, and the ability to be delivered orally.”

MI’s head of imaging technologies quoted on bioprinting in U.K.’s Financial Times

Fanny Sie, MaRS Innovation’s head of imaging technologies, was quoted in Tanya Powley‘s article, “Printing whole organs remains a long way off,” for the U.K.’s Financial Times on June 11, 2015, regarding the technology’s potential to transform existing healthcare practices.

MI does wish to note that the article inaccurately attributes the PrintAlive device’s development to MaRS Innovation; MI is working with the University of Toronto inventing team, led by Dr. Axel Gunther, to commercialize the device.

Here’s a short excerpt:

Bioprinting could save pharmaceutical companies a lot of money, according to Fanny Sie of MaRS Innovation, a Toronto-based company. The company has developed the PrintAlive Bioprinter, which can print skin that could be used to treat people with large scale burns. The printed tissues could be used by pharmaceutical companies to test the toxicity of new drugs, and help them decide if it is worth starting costly animal and then human clinical trials.

MaRS Innovation forms third collaboration with Johnson & Johnson Innovation

June 11, 2015
Susanne Staer
Centre for Addiction and Mental Health (CAMH)

MaRS Innovation today announced that Johnson & Johnson Innovation has expanded its collaboration with MaRS Innovation to identify and advance early-stage technologies of interest.

The announcement was made in advance of the 2015 BIO Convention, which takes place from June 15 to 18 in Philadelphia, PA. MaRS Innovation is participating as part of the Ontario delegation and will have kiosk space in the Ontario pavilion (#615).

This partnership was covered in BioCentury, GEN, PharmaBiz and FierceBiotech.

Earlier this year, Johnson & Johnson Innovation and MaRS Innovation announced their research partnership to advance three technologies focused on improving cardiac surgery outcomes, developing a blood test for depression, and identifying a diagnostic metabolite for both gestational and type 2 diabetes patients. The projects’ principal investigators are researchers from the University Health Network (Peter Munk Cardiac Centre), the Centre for Addiction and Mental Health (with Indoc Research) and the University of Toronto.

“Johnson & Johnson Innovation is an excellent partner that understands exactly the kind of technology pipeline MaRS Innovation represents,” said Dr. Raphael Hofstein, president and CEO. “Renewing their longstanding relationship signals the value they see in this partnership with MaRS Innovation, our members and researchers within our network.”

SciBX covers Encycle’s partnership with IRICoR, MaRS Innovation and Merck

“The first disclosed grant under Merck & Co. Inc.’s Canadian translational initiative will bolster the ability of macrocycle-based Encycle Therapeutics Inc. to conduct lead optimization of its integrin [a₄b₇,] inhibitors for inflammatory bowel disease,” writes Michael J. Haas in SciBX’s feature on the partnership, “Merck Encycles through Canada.” The article appears in the publication’s December 4, 2014 issue.

Read the Encycle press release that prompted this article.

The article explores the current grant partnership between Merck, Encycle Therapeutics, MaRS Innovation, the Institute for Research in Immunology and Cancer–Commercialization of Research (IRICoR), and the Université de Montréal’s Institute for Research in Immunology and Cancer (IRIC), and takes an inside look at the company’s progress to date.

Here’s an excerpt:

Encycle is a spinout from the University of Toronto founded in 2012 to solve the primary challenges of macrocycle drugs–poor cell penetration and low oral availability.

According to Parimal Nathwani, the company was selected by MaRS Innovation and IRICoR (Institute for Research in Immunology and Cancer–Commercialization of Research), two of the three agencies originally tasked with disbursement and management of the Merck fund, because it was a good match with IRIC’s competencies. The third agency, The Centre for Drug Research and Development, is not involved in this deal. IRICoR is the commercialization arm of IRIC.

“Encycle has a good chemistry platform and nice early discovery work on its integrin [a₄b₇,] inhibitor program, which is now at the point where it needs to move through lead optimization,” said Nathwani. “IRIC scientists have strong expertise in medicinal chemistry and have worked with industry on optimization, pharmacokinetics, toxicity and other preclinical studies, so they can provide Encycle with pharma-grade optimization.”

Encycle Therapeutics developing lead molecule to tackle inflammatory bowel disease

Company’s collaborative partnership with IRICoR, Université de Montréal and MaRS Innovation, funded by Merck Canada, to advance macrocycle drug

Encycle IRICoR release — Encycle Therapeutics Inc., a biotechnology start-up founded by the University of Toronto in partnership with MaRS Innovation, is developing its lead orally-bioavailable macrocycle drug to target integrin a4b7, which is involved in the inflammatory process in a number of diseases, most notably for inflammatory bowel disease.

TORONTO and MONTREAL, Nov. 10, 2014 — Encycle Therapeutics Inc., a biotechnology start-up founded by Dr. Andrei Yudin of the University of Toronto in partnership with MaRS Innovation, is developing its lead orally-bioavailable macrocycle drug to target integrin a₄b₇, which is involved in the inflammatory process in a number of diseases, most notably for inflammatory bowel disease.

This announcement was covered in SciBX, Drug Discovery & Development, PBR, Yonge Street Media, Biotechnology Focus, and Bioworld Today (no public link available).

Read this release in French.

To support and advance this molecule, Encycle Therapeutics is collaboratively partnering with the Institute for Research in Immunology and Cancer — Commercialization of Research (IRICoR), the Université de Montréal (UdeM) and MaRS Innovation. The partnership builds on the Merck Canada Inc. $4 million public-private funding partnership, announced at BIO in April 2013, to develop collaborative research projects with three Canadian academic commercialization centres, including MaRS Innovation and IRICoR.

“We are pleased to help support this important research collaboration that is made possible through the Quebec-Ontario corridor project in an emerging technology area. IRICoR, MaRS Innovation and Encycle have clearly leveraged their respective strengths to accelerate the discovery of novel therapeutics. As a research-focused company committed to early stage private-public partnering, we believe that such interactions will continue to fuel innovation in the life science sector in Canada,” said Mr. Chirfi Guindo, president and managing director, Merck Canada Inc.

The agreement brings a significant investment to fund Encycle Therapeutics’ development work, giving IRICoR an equity position and expanding MaRS Innovation’s equity stake. Cumulatively, Encycle Therapeutics has secured more than $2.5 million to advance its drug development platform.

Triphase announces Celgene collaborations and license deal with PharmAbcine

October 28, 2014
Susanne Staer
Industry Partners

Triphase Accelerator Corporation, a private, drug development company dedicated to advancing novel compounds through Phase II proof-of-concept, announced October 27, 2014 new and expanded strategic collaborations with Celgene Corporation.

This announcement was covered in Genetic Engineering and Biotechnology News (GEN), BioCentury Extra (no link available), Pharmaceutical Business Review (no link available), Scrip and BioWorld Today (no link available). It builds on Triphase’s original collaborative agreement with Celgene in January 2014.

The company has also announced a new global license for a fully human, bi-specific antibody targeting VEGFR-2/TIE 2 with Korea’s PharmAbcine.

Triphase initiates Phase I Study Evaluating Marizomib in Glioblastoma (GBM) with Celgene

Triphase has expanded its strategic collaboration with Celgene Corporation. The supplemental agreement adds a Phase I development program that will explore combining an intravenous (IV) formulation of marizomib with bevacizumab in glioblastoma (GBM), an aggressive malignant primary brain tumour.

Vasomune Therapeutics awarded $1.5 million to advance lead asset for renal disease

TORONTO (October 20, 2014) — Vasomune Therapeutics, a biotechnology start-up founded by Drs. Dan Dumont and Paul Van Slyke of Sunnybrook Research Institute (SRI) in partnership with MaRS Innovation, has received $1.5 million, in part through Genome Canada’s Genomic Applications Partnership Program (GAPP), to advance Vasculotide, the company’s lead Tie-2 activating agent, towards clinical development.

This announcement was covered in Biotechnology Focus.

The Honourable Ed Holder, Minister of State (Science and Technology) and Dr. Pierre Meulien, president and CEO of Genome Canada, announced the funding as part of 12 selected projects under Genome Canada’s Genomic Applications Partnership Program (GAPP), on October 15 in Wallenstein, Ontario.

**Parimal Nathwani**, president and CEO of Vasomune Therapeutics Inc.

“We believe that our technology is well positioned to accelerate from preclinical research into clinical development based on its strong data package,” said Parimal Nathwani, president and CEO of Vasomune Therapeutics. “This award, in combination with industry funding, validates the Vasculotide opportunity and gives us the required funds to advance the drug candidate toward the clinic.”

In preclinical studies, Vasculotide has shown to be an effective treatment for multiple renal diseases including acute kidney injury (AKI), which in humans is a possible outcome of kidney function loss that manifests in nearly a third of high-risk cardiac patients. AKI may result from short-term interruptions in blood flow during surgery; 11 percent of patients who develop AKI after bypass surgery will die. People who survive AKI are at risk of developing longer-term kidney complications such as chronic kidney disease or End Stage Renal Disease. Vasomune’s founders conceptualized and designed Vasculotide to bind to the Tie-2 receptor, which is responsible for maintaining vascular health (and thus blood flow).

With this new funding, a third from Vasomune and MaRS Innovation, a third from Genome Canada and a third from a leading multinational pharmaceutical company, Vasomune can transition its program into manufacturing optimization, pharmacokinetics and toxicology studies to prepare for clinical development in early 2016.

Triphase signs collaboration and option agreement with Celgene Corporation, leading innovator of cancer therapies

MI portfolio company actively seeking additional products for licensing and development

TORONTO and SAN DIEGO, Jan. 9, 2014 — A unique collaboration of life science leaders, including the Fight Against Cancer Innovation Trust, MaRS Innovation Ventures Trust and MaRS Phase II Investment Trust, have formed Triphase Accelerator Corporation, an oncology development accelerator.

Triphase Accelerator’s announcement was covered in Yonge Street Media, Bloomburg Businessweek and Global University Venturing.

Formed in 2010, Triphase Accelerator Corporation is a cancer-focused biotechnology development company that aims to reduce the time and expense between an investigational new drug application and “proof-of-concept” at Phase II.

Triphase, spun out of the Ontario Institute for Cancer Research (OICR), develops and advances late pre-clinical, Phase I or early Phase II potential products. Triphase and its founding investors are in a position to take advantage of the excellent research and development capabilities in the Toronto healthcare and innovation ecosystem.

The Fight Against Cancer Innovation Trust (FACIT), MaRS Innovation Ventures Trust, and MaRS Phase II Investment Trust, are all Toronto-based equity investors in Triphase.

After company formation, Triphase entered into a strategic relationship with Celgene Corporation. Through this arrangement, Celgene obtained rights of first refusal on the first three oncology products Triphase advances to clinical proof-of-concept (POC), plus a right of first negotiation on three more future oncology products which may be acquired by Triphase.

pharmaceutical industry

Encycle Therapeutics raises $2.85 million to advance macrocycle platform and pipeline

Ontario Government, University of Toronto, and MaRS secure Johnson & Johnson Innovation, JLABS for Toronto – first JLABS Incubator outside of United States

Partners for JLABS @ Toronto include Janssen Inc., MaRS Innovation and seven of MI’s 15 member institutions

MI’s head of imaging technologies quoted on bioprinting in U.K.’s Financial Times

MaRS Innovation forms third collaboration with Johnson & Johnson Innovation

SciBX covers Encycle’s partnership with IRICoR, MaRS Innovation and Merck

Encycle Therapeutics developing lead molecule to tackle inflammatory bowel disease

Company’s collaborative partnership with IRICoR, Université de Montréal and MaRS Innovation, funded by Merck Canada, to advance macrocycle drug

Triphase announces Celgene collaborations and license deal with PharmAbcine

Triphase initiates Phase I Study Evaluating Marizomib in Glioblastoma (GBM) with Celgene

Vasomune Therapeutics awarded $1.5 million to advance lead asset for renal disease

Triphase signs collaboration and option agreement with Celgene Corporation, leading innovator of cancer therapies

MI portfolio company actively seeking additional products for licensing and development

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