New Science Ventures Portfolio Company Ventyx Biosciences Raises $114 Million
Ventyx Biosciences combines clinical stage programs of three companies co-founded and merged by New Science Ventures
NEW YORK and LONDON, March 9, 2021 /PRNewswire/ -- New Science Ventures LLC ("NSV"), a leading venture capital firm focused on building companies that leverage breakthrough science to create extraordinary value, announces that its portfolio company Ventyx Biosciences raised $114 million from blue-chip investors to advance a diverse pipeline of immunology programs. Ventyx Biosciences combines assets from three formerly independent, asset-centric companies – Oppilan Pharma (targeting S1P1R), Zomagen Biosciences (targeting the NLRP3 inflammasome) and the original Ventyx Biosciences (targeting TYK2) – which were founded and merged by Raju Mohan, CEO of Ventyx Biosciences, and New Science Ventures.
The proceeds will be used to accelerate clinical development of best-in-class immunology programs and advance preclinical programs against novel drug targets with its prolific drug discovery engine.
The equity financing was led by venBio Partners alongside new investors, including Third Point, RTW Investments, LP, Janus Henderson Investors, Wellington Management, OrbiMed, Surveyor Capital (a Citadel company), Farallon Capital, Vivo Capital, Logos Capital, Qiming Venture Partners USA, Cormorant Asset Management, and participation from founding investor New Science Ventures. In connection with the financing, Richard Gaster and Aaron Royston of venBio Partners and Jigar Choksey of Third Point will be joining the Ventyx Board of Directors.
"We are extremely proud to have the support of such prominent investors who share our enthusiasm, dedication and vision to build a world-class immunology company," said Raju Mohan, Chief Executive Officer of Ventyx. "The additional capital will allow us to accelerate our clinical development programs while simultaneously expanding our portfolio of small molecule therapeutics with best-in-class potential for patients with inflammatory and autoimmune diseases. We have brought together a syndicate of experienced investors that can support the long-term growth and development of our deep pipeline of immune modulators."
Ventyx's internally discovered and wholly-owned portfolio of potent and selective small molecule drug candidates target multiple indications in the immunology space, including gastrointestinal and dermatological diseases. The company's pipeline combines the clinical stage programs of three companies founded by Raju Mohan and New Science Ventures:
- A tissue selective S1P1R modulator for inflammatory bowel disease (IBD) and other indications that was developed by Oppilan Pharma;
- A selective allosteric TYK2 inhibitor, developed by Ventyx, that is projected to demonstrate high efficacy and therapeutic utility across a broad range of immunological disorders; and
- The NLRP3 inhibitor program, created by Zomagen. The first candidate of this program will enter the clinic in the second half of this year.
In addition, the company is leveraging its world-class drug discovery platform to advance preclinical programs against other biologically relevant targets involved in difficult to treat inflammatory diseases and autoimmune disorders.
"The Ventyx team has done an extraordinary job of rapidly and efficiently advancing high-quality drug candidates into the clinic against compelling biological targets," said Richard Gaster of venBio. "We have been closely tracking the I&I space and are excited to bring these assets together into one outstanding company and lead the current financing round. We are eager to support Ventyx's efforts to bring meaningful new treatments to patients."
"We are pleased to bring in such a distinguished group of healthcare investors to support the development of the company's innovative immunology programs, and we welcome Rich, Aaron and Jigar to the Board," added Somu Subramaniam of New Science Ventures.
About New Science Ventures ("NSV")
NSV is a leading venture capital firm focused on building companies that leverage breakthrough science to create extraordinary value. NSV invests in companies using fundamental, science-based innovations and backed by strong IP protection to address large unmet needs in Life Sciences and Information Technology sectors. We invest in early and mid-stage companies with a long-term view and support our companies through value inflection points to create scalable businesses and realize value. NSV is a founding investor in Ventyx Biosciences.
NSV was founded in 2004 and is based in New York, NY and London, UK and operates a Life Sciences incubator in San Diego, CA.
For more information please visit: www.newscienceventures.com
About Ventyx Biosciences, Inc.
Ventyx Biosciences, Inc. is a clinical-stage biotechnology company advancing a broad pipeline of potent and selective small-molecule drug candidates to treat inflammatory diseases and autoimmune disorders. Ventyx Biosciences combines assets from three formerly independent, asset-centric companies: Oppilan Pharma, targeting S1P1R, Zomagen Biosciences, targeting the NLRP3 inflammasome, and the original Ventyx Biosciences, targeting TYK2. The diversified portfolio in the newly formed joint entity includes best-in-class, highly differentiated clinical-stage programs and preclinical programs focused on high-value targets.
Ventyx is headquartered in Encinitas, California. For more information about Ventyx, please visit www.ventyxbio.com.
Contacts:
Citigate Dewe Rogerson
Sylvie Berrebi/ Nathaniel Dahan PhD / Mark Swallow PhD
T: +44 (0)20 7638 9571
E: NSV@citigatedewerogerson.com
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