Picked by: Jürgen Eckhardt, the senior vice president and head of Leaps by Bayer (investor)
MANIFOLD BIO SERIES
But Actio will soon be raising a Series A round, Nodelman said. Much is still under wraps for the new company, which was founded in 2021, including its initial disease targets. "The idea that rare-disease genes regulate biological pathways relevant to more common diseases has been the focus of David's research for the last decade," Nodelman said, adding that he's "very lucky to get to work with a scientist" like Goldstein. Why it's poised to take off in the next year: Nodelman's main attraction to Actio is its two scientific founders: David Goldstein, a Columbia University genetics professor, and John McHutchison, a Gilead Sciences veteran. Funding raised: $8 million in a seed round, EcoR1 Capital said What it does: The San Diego biotech is developing treatments for rare diseases that could also help treat common illnesses. Picked by: Oleg Nodelman, the founder and managing director of EcoR1 Capital (investor) A-Alpha hits that perfectly." Actio Biosciences "We're investing more in companies that can generate revenue and that can do partnerships. "They're not reliant on the old, binary nature of a drug-development program," Garabedian said, referring to the lengthy and expensive process of bringing an experimental drug through clinical studies. The company declined to disclose its revenue but said that it has partnered with biotechs, including Kymera Therapeutics and Twist Bioscience. The startup, which spun out of the University of Washington, also benefits from already having revenue, Garabedian said, which is more valuable during this downturn. A-Alpha specifically studies how proteins interact with other proteins, which is a similar research focus as companies such as Relay Therapeutics and Gandeeva Therapeutics. That could help a drug company figure out which therapeutic candidate to advance into clinical trials. These tests can uncover whether a drug might work, as well as potential toxicities.
The startup's platform uses machine learning to run millions of tests to see how a potential new drug interacts with a wide range of proteins. Why it's poised to take off in the next year: Garabedian said his firm typically passed on companies selling tools, but A-Alpha's technology could fill a gap in the drug-research process.
Funding raised: $23 million, PitchBook said What it does: The Seattle biotech sells its machine-learning-powered technology to pharma companies, helping them identify promising drug candidates. Picked by: Chris Garabedian, a venture-portfolio manager at Perceptive Advisors (investor) Meet the 23 biotech startups that are set to take off in the next 12 months, according to top VCs
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