Amsterdam, The Netherlands, 02 November 2021 – BioGeneration Ventures (“BGV”), a leading early-stage VC in European biopharma today announces that Dunad Therapeutics (“Dunad”), a biopharmaceutical company focusing on the development of protein degradation therapies, has entered a strategic collaboration and license agreement with Novartis to generate orally bioavailable covalent and protein degrading small molecule drugs.
Dunad’s unique platform uses mono-valent small molecules to induce selective degradation of disease-causing and often undruggable proteins via direct modification of the target. It has the potential to generate orally bioavailable degrader therapeutics that significantly expand the frontiers of protein degradation targets.
Under the terms of the agreement, Dunad will apply its tunable and highly selective platform to generate novel covalent and targeted protein degrading small molecule drugs focusing on up to four drug targets agreed with Novartis. Additionally, Dunad will be responsible for program execution up to lead optimization. Novartis will contribute target and ligand knowledge as well as access to unique assays and models whilst funding the entire research collaboration.
BGV invested in Dunad earlier this year, joining founding investor Epidarex Capital. Oskar Slotboom, General Partner at BGV is a member of Dunad’s Board of Directors.
Prof. Patrick Gunning, Dunad’s co-founder, acting Chief Executive Officer and Chief Scientific Officer commented: “We are thrilled to have entered this collaboration with Novartis, which has already established a world leading position in the protein degradation space. This deal highlights the clear benefits our platform promises to offer for the development of next-generation targeted protein degrader therapeutics. We are excited BGV joined Epidarex as the second experienced Biotech VC investor and are grateful for the support with the of continued company expansion, pipeline program advancement, and Pharma partnership discussions such as the one announced today”.
Oskar Slotboom, General Partner at BGV and non-executive director at Dunad, added: “BGV invested in Dunad in early 2021 and we are excited to support this approach to protein degradation which is distinctive in the field. This fits with our strategy of being at the forefront of science by identifying promising investment opportunities and subsequently building companies towards value inflection points.”
For more information please contact:
Laura Asbjornsen, Head of Communications
Tel: +31 (0)35 699 30 00
Consilium Strategic Communications
Ashley Tapp, Sue Charles
Tel: +44 (0)20 3709 5700
BioGeneration Ventures (BGV) is a venture capital company, with a focus on early-stage European biotech companies. With a strong track record of significant financial returns through its investments in healthcare innovations and providing the expertise to build world-class companies, BGV manages over EUR 250 million of funds and invests in areas where true scientific innovations, unmet medical needs, and the potential to demonstrate a significant proof of concept all converge. BGV strives to work with founding teams to progress science and build successful companies and uses its experience to guide progress into clinical trials, leading to successful drug development and value realization for its investors. BGV applies its expertise in a rigorous process to select the most compelling opportunities with the best prospects for exit. The Company is based in Naarden, The Netherlands. For more information, please visit: http://www.biogenerationventures.com.
About Dunad Therapeutics
Dunad Therapeutics is a biopharmaceutical company focusing on the development of next-generation targeted oral protein degradation therapies. Dunad’s platform enables selective degradation via direct target modification using tunable mono-valent small molecules, allowing for the development of more drug-like, orally bioavailable and CNS-accessible protein degraders.
Dunad was founded in 2020 and is headquartered in Cambridge, UK with operations in both the UK and North America and is backed by founding investor Epidarex Capital as well as BioGeneration Ventures (BGV) and Novartis. For more information, please visit: www.dunad.co.uk