MEDICAL
Spotlight Therapeutics | March 22, 2022
Spotlight Therapeutics, Inc. (“Spotlight”), a biotechnology company applying new insights to develop cell-targeted in vivo CRISPR gene editing biologics, today announced a $36.5M Series B financing to fuel a drive toward the clinic.
The financing round was co-led by new investors GordonMD Global Investments and EPIQ Capital Group, with participation from Magnetic Ventures, as well as existing investors GV (formerly Google Ventures) and Emerson Collective and other investors. Craig Gordon, M.D., Founder, CEO and CIO of GordonMD Global Investments, joins the Company’s Board of Directors.
Spotlight's proprietary technology platform, TAGE (Targeted Active Gene Editors), is a new class of biologics; highly engineered, modular programmable CRISPR effectors designed to target and edit selected cell types in vivo. This approach circumvents the complexity of packaged viral, viral-like, and nanoparticle delivery systems, opens the door to expanded applications, and holds the promise of increasing patient access.
We are excited to help Spotlight advance its pioneering work, which shows promise for cell-targeted delivery of CRISPR effectors in vivo. Spotlight’s TAGE platform could enable significant expansion of CRISPR medicines to a wide range of diseases."
Dr. Gordon.
This Series B funding is a crucial milestone as we advance our lead first-in-class immuno-oncology (IO) program and progress our pipeline of programs in IO, ophthalmic diseases and hemoglobinopathies,It will enable us to execute our development plan, leveraging Spotlight’s unique cell-targeted in vivo delivery approach, as we aspire to unlock the full potential of gene editing and enable effective one-and-done medicines for patients.”
Mary Haak-Frendscho, Ph.D., President and CEO of Spotlight Therapeutics.
About Spotlight Therapeutics
Established in mid-2018, Spotlight Therapeutics is a privately held biotechnology company advancing a pipeline of cell-targeted in vivo CRISPR gene editing therapies. Spotlight's proprietary technology platform TAGE (Targeted Active Gene Editors) is a new class of biologics, CRISPR effectors engineered for direct delivery in vivo, to achieve cell-selective therapeutic genome editing. Spotlight's pipeline is advancing its modular programmable CRISPR effectors towards clinical studies in immuno-oncology, ophthalmic diseases and hemoglobinopathies. The company is headquartered in Hayward, California.
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RESEARCH
TurtleTree | October 04, 2021
TurtleTree has officially opened its new R&D facility in California's state capital. Located in West Sacramento, this 24,000-square-foot building will house a world-class research hub showcasing the company's extensive array of innovations and cell-based technologies.
Representing a milestone in TurtleTree's US-based expansion plans, the research facility will spur the development of precision fermentation technology currently used to produce valuable milk ingredients like lactoferrin. This marks a significant stride towards the production of consumer-ready milk and dairy, reaffirming TurtleTree's status as a leading player in the field of sustainable nutrition.
In addition to improving these capabilities, the establishment of this groundbreaking facility will also further TurtleTree's mission of uplifting the world beyond the creation of sustainable food. To adequately staff the facility, the company will create approximately 40 new tech-related jobs in and around Greater Sacramento. These will span diverse fields from food science to engineering, yielding fresh opportunities for seasoned professionals and fresh graduates alike.
Referencing this positive impact, TurtleTree's CEO and co-founder, Fengru Lin, stated: "Establishing this R&D facility in Greater Sacramento marks the first step towards bringing our unique products from development to market—one that we're very glad will help unlock new opportunities within the local community. We're eagerly looking forward to working with the brilliant talent in the area and building a future generation of nutrition that we can all enjoy for decades to come."
Echoing similar sentiments, various West Sacramento representatives have also offered their support for the new facility. President and CEO of the Greater Sacramento Economic Council, Barry Broome, stated: "We want to congratulate TurtleTree for locating their R&D and manufacturing facility in West Sacramento. This move signals market validation of why Greater Sacramento is world-class in biotech, specifically alternative proteins research."
West Sacramento is honored to have been chosen by TurtleTree as the location for their much-anticipated research facility. The city looks forward to assisting the TurtleTree leadership to achieve their goals, with respect to the facility, through an accelerated occupancy permit process, TurtleTree is making significant contributions to a sustainable, global food supply and is also creating opportunities to prepare future generations to continue this important scientific work through our student internship program, which will be of great benefit to the city's youth.
-West Sacramento mayor, Martha Guerrero
Moving forward, TurtleTree remains committed to its role in developing the food and agriculture ecosystem in Northern California. Aside from functioning as a research hub, the R&D facility will also serve as an integral touchpoint for TurtleTree to connect and collaborate with educational institutions, research-focused partners, strategic partners, future customers, and investors.
About TurtleTree
TurtleTree is a biotech company that's using cell-based technologies to create sustainable food and dairy. In spite of this, we earnestly believe that what we do extends beyond the dining table and into the heart of humanity. At our core, we seek to uplift the world by providing a new generation of nutrition that's better for the planet, better for the animals, and better for people everywhere.
About the Greater Sacramento Economic Council (GSEC)
The Greater Sacramento Economic Council is the catalyst for innovative growth strategies in the Capital Region of California. The organization spearheads community-led direction to retain, attract, grow, and scale tradable sectors, develop advanced industries, and create jobs and investment throughout a six-county region. Greater Sacramento represents a collaboration between local and state governments, market leaders, influencers, and stakeholders, with the sole mission of driving inclusive economic growth. The Greater Sacramento region was founded on discovery, built on leadership, and fueled by innovation.
About the City of West Sacramento
West Sacramento is located minutes from the state capital, midway between San Francisco and Lake Tahoe, in the heart of California's Great Central Valley. West Sacramento has abundant land, high-quality water, and nearby agricultural production combined with market access and proximity to the world-renowned food and agricultural research of U.C. Davis. Over 60 companies in food and ag-tech research, production, and distribution have established West Sacramento's Global Food Industry Hub, including Origin Materials, TOMRA Sorting Solutions, NuSeed Americas, Nor-Cal Beverage, Bayer Crop Science, and Nippon Shokken U.S.A.
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RESEARCH
Skye Bioscience, Inc. | October 13, 2021
Skye Bioscience, Inc. (“Skye” or the “Company”), a biopharmaceutical company developing proprietary, synthetic cannabinoid-derived molecules to treat glaucoma and other diseases with significant unmet need, has formed a new exclusive sponsored research agreement with Emerald Health Biotechnology Espana SLU (“EHBE”), focused on developing and characterizing novel molecules that can affect the endocannabinoid system (ECS) for therapeutic benefit. The research initiative, referred to as the Cannabinoid Pharmaceutical Innovation Program (CPIP), will focus on targeting important signaling pathways in the endocannabinoid system to realize therapeutically beneficial effects.
The CPIP reflects the company’s continued commitment to expand its leadership in cannabinoid-based science and cutting-edge research that can be commercialized through new and existing technologies. It leverages R&D initiatives with key opinion leaders with specialized research centers in the US and internationally, such as the University of Mississippi, University of Cordoba, and University of Eastern Piedmont. This agreement deepens the commitment of Drs. Munoz and Appendino, who will be the principal investigators and continue to lead Skye’s scientific advisory board. The CPIP is driven by the focus on investing in key value-creating pillars for the Company - ophthalmology applications, clinical development, pipeline expansion and people - to achieve the vision of creating a world-class cannabinoid pharmaceutical company.
"As the world comes to appreciate the broad and dynamic role of the endocannabinoid system in humans and animal health, the pharmaceutical potential of cannabinoids to modulate this system is just starting to be understood. While the anecdotal evidence of the health benefits of cannabinoids dates back millenia, modern science has barely scratched the surface to validate the benefits of the ECS in preventing and treating diseases. Skye’s ambition is to play a leading role in effecting important therapeutic outcomes by influencing the endocannabinoid system. We want to continue to make strategic investments that can further bring value to all stakeholders, and our clear focus in this initiative is to achieve novel discoveries that achieve important clinical utility with commercial value. These overarching priorities will guide our strategy, project initiatives, and investments."
Punit Dhillon, Chief Executive Officer and Chair of Skye Bioscience
Under the terms of the agreement:
Skye will approve and fund designated projects and have exclusive rights to all data and products, and any intellectual property resulting from this research collaboration will be owned by Skye
Research will be broad and encompass novel molecules that modulate the ECS to treat or prevent human or animal diseases
EHBE will receive a single digit royalty on all licensing revenue or other consideration paid to Skye by a third-party licensee, assignee or purchaser related to any product commercialized as part of a Skye Project
Skye will pay EHBE a retainer of $200,000 per year.
“Having worked with cannabinoids and the endocannabinoid system for over 25 years, it is clear that there are tremendous opportunities to discover and create cannabinoid-derived molecules with potential to beneficially interact with the ECS for positive medical outcomes. With the launch of Skye’s new Cannabinoid Pharmaceutical Innovation Program with our research team in Cordoba, Spain, our efforts will focus on preclinical development of CBDVHS, R&D of CB1 modulators involved in pain, inflammatory diseases, neurological diseases, fibrotic diseases and metabolic diseases, and drug discovery relating to modulators of the cannabinoid receptors CB2 and GPR55. We aim to generate a wide portfolio of proprietary products and IP around molecules with commercial potential.”
Eduardo Munoz, Managing Director of Emerald Health Biotechnology Espana
About Emerald Health Biotechnology Espana SLU
Emerald Health Biotechnology España SLU (EHBE) is a preclinical-stage drug development research company focused on new cannabinoid derivatives to treat severe life-threatening conditions and other pathologies. Led by cannabinoid research experts and scientific advisors to Skye, Drs. Eduardo Munoz and Giovanni Appendino, EHBE is a pioneer in developing chemical cannabinoid derivatives that improve the therapeutic properties of the natural compounds.
About Skye Bioscience
Skye Bioscience Inc. is a biopharmaceutical company unlocking the pharmaceutical potential of cannabinoids through the development of its proprietary, cannabinoid-derived molecules to treat diseases with significant unmet needs. The company’s lead program, THCVHS, is focused on treating glaucoma, a disease with no cure and the world’s leading cause of irreversible blindness. For more information, please visit: www.skyebioscience.com
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