Cambridge Biotechs Raise $$ for Precision Medicine

Odyssey Therapeutics has raised $168 million in a Series B financing following its $218 million Series A in December 2021, bringing the total capital raised to $386 million. The funding will enable Odyssey to advance its portfolio of precision immunomodulators and oncology medicines. “Odyssey is pioneering next generation therapeutics by marrying a powerful drug discovery engine integrating machine learning, biology, and medicinal and structural chemistry with an exceptional leadership team of proven drug developers….,” said Odyssey founder and CEO Gary Glick, Ph.D. “We have made tremendous strides since our launch in 2021, and we value the support as we advance multiple candidates into IND-enabling studies in 2023.”

Odyssey’s immunology and oncology portfolio encompasses eight declared programs initially focused on small molecule and protein therapeutics. In addition, Odyssey is building a discovery engine that integrates artificial intelligence and machine learning for molecular design; a chemistry platform encompassing proprietary covalent libraries targeting multiple amino acids, molecular glues and natural products; and a functional genomics platform for novel target discovery. (Source: Odyssey Therapeutics Website, 13 October, 2022)

Nested Therapeutics, a biotech developing a precision medicine platform to address hard-to-treat cancers, has completed a $90 million Series A financing, bringing its total financing to $125 million since Versant Ventures founded the company. The financing will enable Nested to advance its pipeline programs, attract additional top-tier talent, and further develop its platform to dramatically expand the reach of precision medicine.

“Patients deserve more and better options, and our approach holds the promise to make first- and best-in-class precision oncology treatments available to a larger addressable population,” said Nested CEO Darrin Miles. Nested’s platform involves a three-pillar approach that maps mutational clusters onto the structural proteome; identifies druggable pockets and cancer-driving mechanisms; and designs novel drugs optimized for the druggable pocket.

According to Nested co-founder and Chief Scientific Officer Klaus Hoeflich, Ph.D., “Our platform uses insights from an array of fields, including genomics, structural biology, computational biophysics, and artificial intelligence. This opens doors to design novel small molecules for previously known targets with well-understood biology and to target what has been previously undruggable.” (Source: Nested Therapeutics Website, 06 October, 2022)