i2020 Accelerator announces new investments in cancer, inflammation and neurology-focused therapeutics
i2020, an accelerator program backed by the San Diego-based venture company Torrey Pines Investment, announced multiple startup and follow-on investment rounds together with OrbiMed and a startup investment in a European science-based venture, together with OrbiMed and BioGeneration Ventures (BGV).
The proceeds of the follow-ons will be used to further support the three previously funded, oncology-focused companies - Lomond Therapeutics, Eil Therapeutics and Ness Therapeutics and the startup proceeds will finance three new oncology-focused companies: Bala Therapeutics, Tegid Therapeutics, Padarn Therapeutics as well as an inflammation-focused company, Vyrnwy Therapeutics. The European science-based venture will be known as Brenig Therapeutics and will focus on neurology targets.
With this additional financing, the partners continue establishing an oncology, inflammation and neurology Loch group of startup companies whilst building a robust innovative pipeline focused on breakthrough drug targets. The new investment from i2020, and OrbiMed brings the total funding for the 7 companies to $52 million, of which approximately half has been invested in startup and follow-on investment rounds in 2020-2021, whilst the funding for Brenig Therapeutics amounts to $8m, of which approximately half has been invested to date. The Loch platform aims to rationally design and develop novel targeted treatments for cancer, immunological and neurodegenerative diseases.
In connection with the financing, Carl Gordon and Iain Dukes from OrbiMed, Nikolay Savchuk from Torrey Pines Investment and Augustine Lawlor from Health Care Ventures have joined the Boards of Lomond, Eil, Ness, Bala, Tegid, Padarn and Vyrnwy, and together with Edward van Wezel of BGV form the Board of Directors of Brenig Therapeutics.
The Loch platform and its programs are supported by the AI and computer aided drug design of Molsoft LLC and ChemDiv Inc., San Diego, CA, and other research partners from i2020 Accelerator's global network.