Riptide Bioscience, Inc.

Capsulomics, announces official rebrand as Previse and launches their first product to enable accurate prognosis and detection data for those prone to Esophageal Cancer. BALTIMORE, March 21, 2023 /PRNewswire/ -- Previse, formerly known as Capsulomics, Inc., announced that the company has closed a $3M seed round and launched its first laboratory-developed test, Esopredict™. Continue Reading Esophageal cancer is one of the most lethal cancers in the world, with a 20% five-year survival rate after diagnosis. According to the American Cancer Society, in 2023, about 21,560 new US cases of esophageal cancer will be diagnosed, and 16,120 people will die from the disease. To improve survival, it is critical to know which patients with the precursor to esophageal cancer, Barrett's esophagus, will progress to having high-grade dysplasia or esophageal cancer in the future. Capsulomics, announces official rebrand as Previse and launches their first esophageal cancer assay Tweet this In order to meet this important unmet medical need, Previse is offering Esopredict™, a precision medicine solution that allows gastroenterologists to provide a tailored approach to Barrett's esophagus treatment. "Our pioneering effort to introduce a first-of-its-kind test to market is a testament to our unwavering commitment to offer advanced solutions to gastroenterologists in their pursuit of providing a proactive and personalized approach to the treatment of Barrett's esophagus and the prevention of esophageal cancer. We look forward to empowering individuals who are predisposed to this disease, along with their physicians, with the ability to make informed and rapid treatment decisions, leading to lives saved." - Daniel Lunz, Co-Founder and CEO of Previse. Barrett's esophagus is a condition in which the tissue lining the esophagus changes and becomes similar to the tissue that lines the intestines. This condition is often caused by long-term acid reflux or gastroesophageal reflux disease (GERD). Barrett's esophagus is the only known precursor and is a significant risk factor for developing esophageal cancer, and patients with this condition require ongoing monitoring and management. With Esopredict™, gastroenterologists can provide a more tailored approach to treatment based on each patient's individual characteristics and needs. "After dedicating decades of my career to cancer research, I am proud to launch Esopredict™ with the Previse team. With the specific data provided by Esopredict™, GI specialists can now provide critical information to patients and health care providers, effectively managing risk of a future cancer diagnosis which could ultimately lead to lives." Dr. Stephen Meltzer, Co-Founder and Chief Medical Officer of Previse. Esopredict™ delivers timely and accurate risk predictions over a 5-year horizon and identifies changes in the DNA methylation levels of four genes, using a sample of a patient's Barrett's esophagus cells to provide a result report called the Esoscore™. The Esoscore™ helps determine a patient's future risk of getting esophageal cancer and will help gastroenterologists determine the appropriate treatment, steps, and surveillance needs for their patients with Barrett's esophagus. In addition to launching Esopredict™, Previse also raised a $3M seed round, with participation from TEDCO, Wexford Science and Technology, Riptide Ventures, Gaingels, and numerous angel investors. "The Wexford ScitTech Venture Fund is proud to support innovative life science companies like Previse that are translating discoveries from the university laboratory to making a difference in the lives of people around the world," said Thomas Osha, president of the fund and Executive Vice President, Wexford Science & Technology. "We believe in the Previse team, their innovative technology, and are pleased to make them the inaugural investment from our newly established fund," Osha continued. Previse will use the seed funding to rapidly expand commercial operations and to build prospective clinical utility research that is the cornerstone for creating broad insurance coverage and reimbursement for Esopredict™. About Previse: Previse is on a mission to save lives through the earlier detection and prevention of cancer, starting with esophageal cancer. They are actively working to get patients and healthcare providers the answers they need sooner by understanding and unlocking the power of biomarkers on cancer development and severity. Previse's technology was made possible by grants from the National Institutes of Health ("NIH") and developed after decades of research by the GI Early Detection Biomarker Lab at the Johns Hopkins University School of Medicine. SOURCE Previse

Earlier this year, Lululemon’s founder Chip Wilson went public with his rare disease diagnosis of facioscapulohumeral muscular dystrophy type 2, or FSHD type 2, in which the muscles degenerate over time. Wilson also committed $100 million to find a cure for FSHD through a new venture, Solve FSHD. Chip Wilson Now, up to $10 million of that commitment is going to Vita Therapeutics, a Baltimore-based cell therapy biotech, and Vita will be adding a discovery-phase FSHD cell therapy to its pipeline. Solve FSHD’s executive director Eva Chin will also be joining Vita’s board. The money from Solve FSHD is part of Vita’s $31 million Series B. Cambrian BioPharma, which launched Vita, also led this round of funding, followed by Riptide Ventures, Cedars Sinai, TEDCO, and others. Last year, Cambrian, the anti-aging portfolio company headed by atai co-founder Christian Angermayer, unveiled Vita with a $32 million Series A. UPDATED: Can a cell therapy treat muscular dystrophy? A German billionaire's anti-aging startup is trying to find out Most of the new cash infusion will go toward Vita’s lead program, dubbed VTA-100. The candidate is a cell therapy for limb-girdle muscular dystrophy type 2a (LGMD2A), the most common type of LGMD. While it’s still in preclinical studies, Vita’s CEO Doug Falk said the company hopes to reach the clinic within 18 months. “We’re really on the verge of kicking off the IND-enabling studies. In parallel to those studies, we’re going to be doing the GMP manufacturing that’s needed to go ahead and file an IND,” Falk told Endpoints News . And aside from its muscular dystrophy programs, Vita has an immunotherapy candidate, VTA-300, that it hopes to bring up from discovery to the preclinical stage as well, Falk noted. And it will be looking to add 10-15 employees to its current headcount of around 30. Sarepta is developing a number of gene therapies for LGMD, though its candidate for type 2a specifically is likewise in preclinical studies. But its LGMD candidate SRP-9003 in clinical studies has shown promising early results so far. Sarepta reveals positive results in limb-girdle gene therapy trial. What does that mean for DMD? On the FSHD front, previous attempts to treat the disease have seen little success. In 2019, Acceleron scrapped its program after patients didn’t have functional improvements on the drug. And Fulcrum’s attempt with a drug targeting DUX4, licensed from GSK, failed a Phase II study — though the biotech is pushing onward with Phase III. But aside from Vita, there are a handful of early candidates. Just last week, Sanofi licensed an antibody-RNA conjugate for FSHD from miRecule, an NIH vet-led startup which also got $1 million from Solve FSHD. And Dyne Therapeutics has its own DUX4-targeted preclinical candidate.

This week, financing came in the form of loans, private placements and a Series B, throwing support behind an injectable heart failure drug, oral immunology therapies and cell-based treatments. Vita Therapeutics Earns $31M in Series B Cell engineering company Vita Therapeutics closed its Series B financing round Wednesday, counting $31 million in earnings. The Baltimore biotech plans to use these proceeds to advance VTA-100, its lead pre-clinical asset for limb-girdle muscular dystrophy. The money will also help support Vita’s newest program, VTA-120, which is being investigated as a potential treatment for facioscapulohumeral muscular dystrophy. Series B earnings will also help the company further deepen its discovery pipeline. The funding round was led by Cambrian BioPharma and a new investor Solve FSHD. During the Series B, Vita found new supporters in Cedars Sinai and Riptide Ventures. The company has raised a total of $66 million since it was established in 2019. scPharmaceuticals Enters $100M Debt Agreement On Monday, scPharmaceuticals announced a binding term sheet agreement for $100 million in a secured debt facility, with the financing managed by Oaktree Capital Management. The partners expect to ink the deal in mid-October, subject to each party’s execution of the definitive agreements and customary closing conditions. The deal will see scPharmaceuticals get $50 million upon signing and remain eligible for two $25 million tranches based on commercial milestones. The Massachusetts pharma will use the proceeds, along with remaining cash on hand, to pay out existing loans and security agreements and support the launch of its chronic heart failure therapy Furoscix (furosemide injection). Alongside the announcement of its debt financing, scPharmaceuticals also revealed Monday the FDA has also approved Furoscix for the treatment of congestion in adults due to fluid overload. Furoscix contains a proprietary furosemide formulation, self-administered using a delivery device attached to the patient’s abdomen. Andera Raises $442M for New Fund Life science venture capital firm Andera Partners announced Monday that it had raised around $442 million for the sixth generation of its BioDiscovery fund. The money will be used to build the venture’s portfolio of biopharma companies working on innovative treatments and medical technologies across all stages of development. So far, BioDiscovery 6 has already invested in Imcheck, Mineralys, Tubulus, TargED, Amolyt and Evommune. The BioDiscovery family of funds has raised nearly $1.1 billion since it was established and has helped finance more than 80 companies across North America and Europe. Its portfolio includes over 40 exits with around 20 companies sold, such as Arvelle, Sanifit and ReViral. BioDiscovery has also supported some twenty firms that have had their initial public offerings, including Axonics and LogicBio. Private Financing Wins Immunic $60M Immunic, Inc. recently closed its private investment in public equity (PIPE) financing round, expecting around $60 million in gross earnings before offering-related expenses are deducted. The agreement saw the New York biopharma sell a total of 8,696,552 shares of its common stock at a 10% premium, corresponding to a price of $4.35 per share. The proceeds will help Immunic fund its current clinical development projects, particularly its three lead oral immunology candidates: IMU-838 (vidofludimus calcium) for multiple sclerosis, IMU-935 for psoriasis and castration-resistant prostate cancer and IMU-856 for conditions associated with bowel barrier dysfunction. The PIPE money, together with current cash, cash equivalents and marketable securities, will see Immunic through the fourth quarter of 2024.