Today, the first IPD spin out company Cyrus Biotechnology announced the closing of an $8M total Series A financing. The investment was led by Trinity Ventures, with participation from OrbiMed Advisors, SpringRock Ventures, W Fund, WRF Capital (a major supporter of the IPD), and individual investors. Congratulations Cyrus team!
Cyrus is commercializing Cyrus Bench® an innovative user friendly software as a service (SaaS) cloud computing solution for distribution of the powerful “Rosetta” protein structure prediction and design algorithms.
The company’s name was inspired by Cyrus Levinthal’s famous paradox, that most small proteins fold spontaneously on short time scales of less than a millisecond, despite there being are a very large number of degrees of freedom in an unfolded protein chain of amino acids, leading to an astronomical number of possible conformations that may need to be sampled before folding into a low energy conformation. The Rosetta suite of algorithms that originated over 17 years ago at the UW, now with a team of over 100+ programmers contributing to the Rosetta Commons, in many cases solves Levinthal’s paradox.
In the last 9 months IPD / Baker lab related Seattle area spin out companies have raised in excess of $55 million to commercialize innovations in computational protein modeling and design !
Today, Baker lab spin out company Arzeda announced that it had raised $12 million in a Series A round of funding led by OS Fund and including Bioeconomy Capital and Sustainable Conversion Ventures, as well as a follow-on investmentfrom Arzeda’s seed investor, WRF Capital (a major supporter of the IPD). The new funding will enable “Technology scale-up that will unlock production of proteins that create sustainable stain-resistant paint, stronger Plexiglas, next-generation sweeteners, and purpose-built molecules that don’t yet exist”
NOTE: Nov. 28, 2017, Arzeda expanded the Series A to $15.2 million, see news.
On January 5th, recent IPD spin-out PvP Biologics announced their agreement with Takeda Pharmaceutical Company Limited. The $35 million deal includes an option to acquire PvP at a later point. PvP has released a statement on their website, and the agreement was highly covered by other news sources, which can be found at the following:
We are happy to congratulate Ingrid Swanson Pultz, an IPD Translational Investigator, and Clancey Wolf, a Research Scientist, on PvP Biologics‘ spinout! The news was announced this morning and has been circulated through various outlets. The company, created in 2015, is focusing on advancing KumaMax, a gluten-fighting enzyme that could potentially be taken orally to help those with Celiac disease. To learn more about the announcement, read the full article here.