Category: Spinoff

Biosensor startup Monod secures $25M seed financing

Monod Bio, a life sciences company developing custom diagnostic biosensors that emit light to detect specific biomolecules of interest, today announced it has raised a $25M seed financing round. The round was led by Matrix Capital, with participation from the Global Health Investment Corporation, Cercano Management, The Washington Research Foundation, Boom Capital Ventures, Sahsen Ventures, and Pack Ventures.

Monod is using state-of-the-art computational protein design to develop a new class of modular biosensors that emit a bioluminescent signal when the sensor recognizes its target. The sensors are built using software from the Institute of Protein Design.

“We can now design custom biosensors that have specific functions, and this seed financing enables us to illuminate specific molecules such as viruses or biomarkers, and start building prototypes that can then become real-world diagnostics,” said Daniel-Adriano Silva, Ph.D., CEO & Co-Founder, Monod Bio. “I’m thrilled to be leading a team with my co-founders that brings together diverse backgrounds across biology, protein engineering, and machine learning to design custom biosensors and improve human health.”

Read more about today’s financing news:

Biotech Startup Monod Bio Collects $25 Million Seed Financing (

15 August 2022 l Wall Street Journal

David Baker lab spinout scores seed funding to build a biosensor from engineered protein – Endpoints News (

15 August 2022 l Endpoints News

Institute for Protein Design spinout Monod Bio raises $25M for molecular biosensors – GeekWire

15 August 2022 l GeekWire

Monod is hiring! Learn more here.


Cyrus Raises $8M to Advance Cloud-Based Protein Modeling and Design

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.

See news in Geekwire, BusinessWire.

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 !

The $8M Series A investment in Cyrus, The $12 M Series A investment in Arzeda, and the $35 M direct-to-pharma deal of PvP Biologics with Takeda.


Arzeda Raises $12M for Computational Protein 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 investment from 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.


See news in Xconomy, Geekwire.  Congratulations Arzeda !

PvP Bio Announces $35M agreement with Takeda


Image from PvPBiologics' Twitter
Image from PvPBiologics’ Twitter

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:

Puget Sound Business Journal



Business Wire


MedCity News


Read the original post about their spin-out here.

New spinout: PvP Biologics!

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.