Brenig Therapeutics, Inc.

In another major milestone in the field of innovative healthcare, on July 23, 2024, Boston-based biotech company Brenig Therapeutics announced that it has successfully closed A $65 million Series A funding round. The round was led by New Enterprise Associates (NEA), a well-known venture capital firm, The participation of several heavyweight investors, including OrbiMed, Torrey Pines Investments and BioGeneration Ventures, shows the broad recognition and expectation of Brenig Therapeutics. Brenig Therapeutics is a pioneering company focused on the treatment of neurological diseases, particularly in the use of artificial intelligence and machine learning technology to develop new drugs. The focus of its development is on BT-267, an innovative small molecule inhibitor that targets the LRRK2 protein. Mutations in the LRRK2 gene are one of the major genetic factors that cause Parkinson's disease, so the development of BT-267 is of great significance for the treatment of Parkinson's disease. Iain Dukes, Chairman of Brenig Therapeutics, said: "This financing not only provides us with the financial support to achieve our goal, but more importantly, it gives us the opportunity to address the urgent medical needs of patients with Parkinson's disease through differentiated medicines." This move by OrbiMed partner Iain Dukes is seen as a strong endorsement of Brenig Therapeutics' advanced technology and its dedicated team. The funding will be used to advance preclinical studies of BT-267 while supporting another undisclosed clinical program at Brenig Therapeutics. According to sources, Brenig plans to move BT-267 into clinical trials in 2025. Given the importance of LRRK2 inhibitors in the treatment of Parkinson's disease, the industry generally believes that Brenig's technical advantages have the potential to bring revolutionary breakthroughs in this field. In the global battle against Parkinson's disease, this advance by Brenig Therapeutics offers new hope for patients. With the deep integration of technology and medicine, it is reasonable to expect more innovative therapies to be developed to address this global public health challenge.

Today, a brief rundown of news from Dren Bio and Geron as well as updates from Moderna, Brenig Therapeutics and Agilent that you may have missed.Novartis is investing in bispecific antibodies for cancer, agreeing to pay privately held Dren Bio $150 million to collaborate on experimental drugs designed to trigger a tumor-destroying responseby myeloid cells. The upfront payment includes a $25 million equity investment in Dren Bio, and the biotechnology company could receive up to $2.85 billion in additional payments based on achievement of certain milestones. Dren Bio and Novartis will collaborate on development until specific experimental drugs have been identified, after which Novartis will assume full responsibility for development, approval and commercialization. Jonathan GardnerAnil Kapur, the chief commercial officer for Geron, is leaving the biotech at the end of next month to pursue other interests, Geron said Tuesday. The departure of Kapur, who was appointed commercial head in late 2019, is notable as Geron just won U.S. approval of its first drug, Rytelo for myelodysplastic syndromes. Gerons COO, Andrew Grethlein, will serve in Kapurs role on an interim basis as the company searches for a replacement. Ned PagliaruloProlific researcher and biotechnology entrepreneur Robert Langer is stepping down from the board of directors of Moderna, a company he helped found in 2010. His resignation did not result from any disagreement with the company, Moderna said in a regulatory filing. Another Moderna director, Stephen Berenson, has also stepped down and will be replaced by David Rubenstein, the co-founder and co-chairman of investment firm The Carlyle Group. Moderna is searching for Langers successor. Ned PagliaruloBrenig Therapeutics on Tuesday announced the closing of a $65 million Series A fundraising round. Formed three years ago, the startup plans to use the fresh cash to push its most advanced drug into human testing. The drug is supposed to inhibit LRRK2 a gene that, when mutated, becomes one of the most common drivers of Parkinsons disease. Venture capital firm New Enterprise Associates led the round, which also saw participation from healthcare investors like OrbiMed and BioGeneration Ventures. Jacob BellBiovectra, a Canada-based contract development and manufacturing organization, has agreed to sell to Agilent Technologies for $925 million. Biovectra makes the active ingredients in pharmaceuticals and assists in other elements of production like fill-finish services, lipid nanoparticle formulation and large-scale commercial manufacturing. Agilent, which offers laboratory services to drugmakers, said the deal will help build its CDMO business and bring in expertise in fast-growing segments such as antibody drug conjugates and GLP-1 medicines. Jacob Bell '

NEA led the round with significant participation from existing and new investors Proceeds support advancing leading pre-clinical development candidate BT-267, a best-in-class leucine-rich repeat kinase 2 (LRRK2) inhibitor, into human clinical trials for the treatment of idiopathic and LRRK2-mutuated Parkinson's disease Additional assets targeting Parkinson's disease will also be evaluated and potentially added to fuel the neurology-focused pipeline DOVER, Del., July 23, 2024 /PRNewswire/ -- Brenig Therapeutics Inc. (Brenig), a pioneering neurology-focused drug development company utilizing an AI/ML-based discovery platform, today announced the closing of a $65 million Series A financing. The financing was led by New Enterprise Associates (NEA) with support from an additional US-based healthcare investor as well as existing investors: OrbiMed, Torrey Pines Investments and BioGeneration Ventures. In connection with the financing, Ed Mathers, Partner at NEA, will join the Board of Directors. "With the financing, we advance our goal of addressing the needs of Parkinson's disease patients with our differentiated drugs," commented Iain Dukes MA DPhil, Chairman of Brenig. "The Brenig team has made remarkable progress since inception," said Ed Mathers. "We believe their approach could lead to best-in-class therapeutics for the treatment of Parkinson's disease. NEA is thrilled to partner with Brenig through its next phase of growth". Brenig plans to use the proceeds from this financing to advance BT-267 through healthy volunteer studies and into proof-of-concept studies in idiopathic Parkinson's disease patients. In addition, the company will explore advancing additional best-in-class approaches for Parkinson's disease. About BT-267 BT-267, a small molecule LRKK2 inhibitor, was designed to have a best-in-class PK profile enabling high and sustained brain exposure and minimal peripheral exposure, thereby ensuring superior efficacy while minimizing on-target, off-tissue toxicity. The molecule exhibits exquisite kinome selectivity, avoiding off-target effects. A clean safety profile has been confirmed through ongoing GLP studies. About Brenig Therapeutics Brenig is a small molecule drug development company that utilizes an AI/ML approach via a partnership with Expert Systems Inc., a drug accelerator that has spawned multiple best-in-class clinical candidates across multiple therapeutic areas. About NEA New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors, and geographies. Founded in 1977, NEA has over $25 billion in assets under management as of December 31, 2023, and invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of investing includes more than 270 portfolio company IPOs and more than 450 mergers and acquisitions. For more information, please visit . Media Contact: Iain Dukes, PhD Executive Chairman [email protected] SOURCE Brenig Therapeutics