AXIS

Canaan XIII and Additional Commitments Bring Total Assets Under Management to $6.8 Billion MENLO PARK, Calif., April 6, 2023 /PRNewswire/ -- Canaan today announced $850 million in new capital to continue the firm's 35-year history of building and supporting transformational companies in the technology and healthcare sectors. Canaan XIII is an oversubscribed $650 million fund intended to support visionary entrepreneurs seeking seed and Series A funding with reserves to support companies through exits including merger and acquisition (M&A) activity and initial public offerings (IPOs). An additional $200 million of commitments is available to accelerate the growth of existing portfolio companies across all of Canaan's active funds. These new funds bring Canaan's total assets under management to $6.8 billion. Continue Reading "We are grateful for the support of our limited partners, many of whom have invested with Canaan over many years in numerous funds. Their belief in the firm and our consistent approach to venture allowed for a fast and efficient fundraising process despite market conditions," said John J. Pacifico, General Partner, COO & CFO of Canaan. "Whereas others are navigating their portfolios through a difficult market for the first time, Canaan has amassed decades of operational expertise that has put us in a unique position to help our portfolio company leadership teams guide their businesses through the current environment. We believe Canaan XIII reflects the high caliber of our team, the trust we've built with our limited partners, and the successful track record we've established through multiple up and down market cycles over our more than 35-year history in venture." Canaan Closes $850 Million to Continue 35-Year History of Building and Supporting Transformational Technology and Health Companies Tweet this Canaan has long sought to build deep relationships with the brightest scientific and entrepreneurial minds in academia and industry in their earliest days of company building. With investments spanning technology and life sciences from Canaan's early days, the firm's consistent approach has led to a long track record of enduring companies and deep partnerships with entrepreneurs, engineers, and scientists. This approach has also led to many successful exits with important new technologies distributed throughout the world, including Dexcom, Instacart, and Match, along with 14 FDA-approved drugs successfully hitting the market, including ten in the last eight years. In just the past five years, Canaan has seen ten IPOs, four public listings, and eight M&A exits within its portfolio and generated nearly $1.7 billion of realizations. They include IPOs for Day One Biopharmaceuticals in May 2021, TheRealReal in June 2019, and Arvinas in September 2018, as well as public listings for Aeva and Berkshire Grey, both in 2021. They also include acquisitions for Kustomer, acquired by Meta for $1 billion in February 2022, Unchained Labs acquired by the Carlyle Group for $435 million in April 2021, Ambra Health acquired by Intelerad Medical Systems in October 2021, ShopKeep acquired by Lightspeed for $440 million in November 2020, and most recently, Axis Security acquired by Hewlett Packard Enterprise in March 2023. Consistent with prior funds, Canaan XIII will invest in seed and early-stage technology companies spanning enterprise, consumer, frontier tech, and fintech. For example, as companies confront business interruptions and financial consequences from cybersecurity attacks, enterprise investments from Canaan XIII will seek to build on recent experience with leading developer security platform Snyk and industrial security leader Dragos. Canaan will also seek to invest in its expanded consumer and frontier tech practices, specifically marketplaces, commerce, and gaming, and companies in robotics, supply chain, logistics, autonomous vehicles, and AI/ML, respectively. Finally, fintech investments are expected to be rooted in platform and infrastructure companies across financial services, insurance, and property. "Canaan has always aimed to be the very first to partner with the best entrepreneurs and companies because we have a shared long-term view to build a company together, in the right way and for the long haul," said Maha Ibrahim, General Partner at Canaan. "This consistent approach is intrinsic to who we are and how we work. It's also invaluable to aspiring entrepreneurs during times of uncertainty. We pride ourselves on being our founders' first phone call and being able to offer the deep institutional knowledge only 35 years in this industry can provide." The healthcare effort for Canaan XIII will be dedicated to company creation and early investments in areas that Canaan believes represent highest unmet clinical and medical needs and in which new medicines can significantly enhance patient care and outcomes. This includes oncology, immunology, and neurology, along with larger therapeutic indications such as cardiology and respiratory, where promising clinical-stage assets are often overlooked or neglected within the industry. Canaan's healthcare team comprises long-standing partners at the firm who have participated not only in traditional syndicated venture deals but also formed multiple companies and taken operational roles to guide science from discovery through development and commercialization while raising the capital required to fund those efforts. With Canaan XIII, the team will specifically seek to prioritize new modalities, including the latest genetically defined precision approaches that it believes are capable of producing impactful new medicines that drive meaningful clinical outcomes. The healthcare team's latest company creation and investment highlights include Vivace Therapeutics, Synthekine, RADD Pharmaceuticals, and the recently unveiled Halda Therapeutics, among others. "While financial markets regularly modulate up and down, the trajectory of scientific knowledge is always moving up and toward the right. We know more today about the fundamental drivers of health and disease than ever before, and the science being deployed to pursue new therapeutic approaches is staggering. It is a great time to be at the forefront of creating and investing in life science companies that will transform how patients are treated and dramatically improve the outcomes they experience. We see this every day across our current portfolio and look forward to leveraging Canaan XIII to continue this mission," said Tim Shannon, M.D., General Partner at Canaan. About Canaan Canaan is an early-stage venture capital firm that invests in entrepreneurs with visionary ideas. With $6.8 billion under management, a diversified fund, and hundreds of exits to date, we partner with entrepreneurs building the next generation of technology and healthcare companies that will transform how we live, work, and thrive. To learn more about our people and our portfolio, please visit: Contacts: Vida Strategic Partners (on behalf of Canaan Healthcare Team) Tim Brons 415-675-7402 [email protected] Sara Pallas (on behalf of Canaan Technology Team) 650-346-5892 [email protected] SOURCE Canaan

[1/2] A pharmacist fills a prescription at the Rock Canyon pharmacy in Provo, Utah, U.S., May 9, 2019. REUTERS/George Frey NEW YORK, Dec 30 (Reuters) - Drugmakers including Pfizer Inc (PFE.N) , GlaxoSmithKline PLC (GSK.L) , Bristol Myers Squibb (BMY.N) , AstraZeneca PLC (AZN.L) and Sanofi SA (SASY.PA) plan to raise prices in the United States on more than 350 unique drugs in early January, according to data analyzed by healthcare research firm 3 Axis Advisors. The increases are expected to come as the pharmaceutical industry prepares for the Biden Administration's Inflation Reduction Act (IRA), which allows the government's Medicare health program to negotiate prices directly for some drugs starting in 2026. The industry is also contending with inflation and supply chain constraints that have led to higher manufacturing costs. The increases are on list prices, which do not include rebates to pharmacy benefit managers and other discounts. In 2022, drugmakers raised prices on more than 1,400 drugs according to data published by 46brooklyn, a drug pricing non-profit that is related to 3 Axis. That is the most increases since 2015. The median drug price increase was 4.9% last year, while the average increase was 6.4%, according to 46brooklyn. Both figures are lower than inflation rates in the United States. Drugmakers largely have kept increases at 10% or below - an industry practice followed by many big drugmakers since they came under fire for too many price hikes in the middle of the last decade. Antonio Ciaccia, president of 3 Axis, said that drugmakers have focused on launching their drugs at higher prices because of the attention paid to annual price increases. The IRA should further this dynamic, he said. "Drug makers have to take a harder look at calibrating those launch prices out of the gate ... so they don't box themselves into the point where in the future, they can't price increase their way back into profitability," he said. More drug prices are likely to be announced over the course of January - historically the biggest month for drugmakers to raise prices. To date, Pfizer announced the most increases, with prices rising on 89 unique drug brands, and an additional increase on 10 drug brands at its Hospira arm. That was followed by GSK, with planned increases so far on 26 unique drugs, including nearly a 7% increase on its popular shingles vaccine Shingrix. GSK was not immediately available for comment. Notable increases expected include 9% price hikes on Bristol Myers Squibb's (BMY.N) personalized CAR-T cell therapies Abecma and Breyanzi, both of which were already more than $400,000 for the blood cancer treatments. A company spokesperson said there were several driving factors in increasing the list price of the two CAR-T cell therapies, including the rate of inflation, the value of the therapies, and the personalized nature of the CAR-T manufacturing process. Increases for Pfizer include a 6% rise on the cost of Xeljanz, a treatment for autoimmune diseases including rheumatoid arthritis and ulcerative colitis, and 7.9% increases on cancer drugs Ibrance and Xalkori. A Pfizer spokesperson said in an email that the company's average list prices for drugs and vaccines in 2023 are well below overall inflation at approximately 3.6%, noting that the increases are needed to support investments in drug discovery. Pfizer noted that net prices - those the company actually receives for its drugs - have fallen in the past four years because of higher rebates and discounts paid to insurance companies and pharmacy benefit managers. AstraZeneca is set to raise prices in the 3% range on blood cancer treatment Calquence, non-small cell lung cancer drug Tagrisso and asthma treatment Fasenra. "AstraZeneca has always taken a thoughtful approach to pricing, and we continue to do so, considering many factors," said company spokesman Brendan McEvoy. In addition to significant R&D investments, McEvoy said AstraZeneca considers clinical value, size of patient population, government/payer coverage requirements, patient affordability, competition and other market conditions. Sanofi plans to raise prices on 14 of its drugs or vaccines. A Sanofi spokesperson said the drugmaker's 2023 pricing actions are consistent with its approach to responsible pricing, adherence to government policies, and the need to respond to evolving trends in the marketplace. Our Standards: The Thomson Reuters Trust Principles.

▲速抢免费参会名额 | 大湾区(广州)生物医药创新者峰会 近日（2月19日），Immunocore宣布，美国FDA授予其创新T细胞受体（TCR）疗法tebentafusp（IMCgp100）突破性疗法认定，用于治疗不可切除性或转移性葡萄膜黑色素瘤（mUM）成人患者，这些患者为HLA-A*02:01阳性。新闻稿指出，如果获得批准，tebentafusp将是40年来治疗转移性葡萄膜黑色素瘤的首个新疗法。 Tebentafusp Tebentafusp是Immunocore公司采用其专有的ImmTAC®技术平台开发的一种新型双特异性蛋白，可通过高亲和力的T细胞受体（TCR）结合结构域合抗CD3 T细胞组装结构域靶向gp100（黑色素瘤相关抗原），使T细胞重新定位以杀伤表达gp100的肿瘤细胞。 图1. Tebentafusp的结构（左）和作用机制（右） 此前，Tebentafusp还被FDA授予过治疗葡萄膜黑色素瘤的快速通道和孤儿药资格，Immunocore计划在2021Q3提交上市申请。如果获得批准，Immunocore相信tebentafusp将是40年来治疗转移性葡萄膜黑色素瘤的第一种新疗法。 据报道，全球每年约有8,000名新患者被诊断出葡萄膜黑色素瘤。高达50%的葡萄膜黑色素瘤患者最终会发展成转移性疾病。当癌症扩散到眼外时，只有大约一半的患者可以存活一年。同时，葡萄膜黑色素瘤是极度难治的癌症类型，近40年来没有重大进展，亟需新药问世。 此外，据相关机构预测，全球转移性葡萄膜黑色素瘤治疗药物到2026年的总市场规模将从2017年的29.60亿美元达到74.20亿美元。 TCR疗法 TCR-T疗法，全称细胞受体基因工程改造的T 细胞疗法，是通过向普通 T 细胞中转导嵌合抗原受体（融合抗原结合域及T细胞信号结构域）或者 TCRα/β 异二聚体，来提高特异性识别肿瘤相关抗原的 TCR的亲和力和免疫细胞的战斗力，使 T 淋巴细胞能够重新高效的识别靶细胞，在体内发挥较强的抗肿瘤免疫效应。 图2. TCR-T细胞疗法的基本步骤 TCR-T 疗法除了能像化学治疗一样快速杀灭肿瘤外，还避免了疫苗和 T 淋巴细胞检查点疗法的延迟效应。目前，TCR-T 疗法主要运用在黑色素瘤、肝癌、卵巢癌等肿瘤治疗中。 不过，由于 TCR-T 疗法行业技术壁垒高，市场准入门槛难以跨越，当前生物医药企业主要选择并购与合作的形式来布局 TCR-T 疗法行业市场。 如，2017年6 月，Cell Medica 收购了Catapult Therapy TCR 和该公司的基因修饰WT1-TCR T细胞治疗候选药物。2017年 9 月，全球制药巨头葛兰素史克宣布AdaptimmuneTherapeutics 达成合作，打造全新 TCR-T 细胞疗法，GSK 获得了后者开发的 NY-ESO SPEAR T 细胞疗法的独家研发和推广权。 国内则主要青睐于采用合作的方式布局 TCR-T 疗法市场。如：广州香雪精准与美国生物医药公司合资建立 Axis therapeutics，共同开发 TCR-T 疗法（香雪精准也因此成为中国 TCR-T 疗法市场头部企业）。 相信在未来，还会有更多头部生物医药企业采取并购、合资等方式，推动资源的优化整合，布局TCR-T 疗法市场。 结语 TCR-T 疗法和 CAR-T 疗法一样都是免疫细胞治疗领域的热门研发方向。不过，目前的CAR-T细胞疗法只对血液肿瘤有效，对于实体瘤，TCR-T可能更有优势（细胞内外肿瘤特异性抗原都可识别；靶向实体瘤效果更明显；体内存留时间更长）。因而，TCR-T 疗法即使目前仍处在实验室阶段，国内外尚未有相关产品上市，依然无法阻挡该行业的快速发展。就国内而言，据中国 TCR-T 疗法的潜在需求预测，2021 至 2023 年，中国TCR-T 疗法行业市场规模将从 378.1 亿元增长至500.1 亿元，年复合增长率达到 15.0%。谁能冲出TCR疗法的赛道？值得期待。 参考来源： 1.https://www.biospace.com/article/immunocore-s-tcr-bispecific-earns-breakthrough-designation-from-fda-for-ocular-cancer/ 2.头豹研究院《2019年中国TCR-T疗法行业概览》 版权声明：本文转自佰傲谷BioValley，如不希望被转载的媒体或个人可与我们联系，我们将立即删除 【关于药融圈】药融圈围绕我国生物医药产业链，针对生物医药大数据、技术和资本投资、药融园(产业园)等开展系列系统性工作，促进我国生物医药产业健康发展，完善产业链，共同面对全球合作和竞争。 点分享 点点赞点在看