Biotechnology Value Fund

Merida Biosciences is a biotechnology company specializing in the development of precision therapies for autoimmune diseases. It employs a protein engineering platform to create novel Fc therapeutics, which selectively target and neutralize specific antibodies, aiming to treat the root cause of antibody-driven diseases with high precision and durability.

Ikena Oncology, Inc. is a biotechnology company focused on discovering and developing biomarker-driven therapies for cancer treatment. It specializes in precision oncology by targeting pathways essential for cancer growth and therapeutic resistance, particularly within the Hippo and RAS signaling networks. The company's portfolio includes several preclinical and discovery-stage programs, such as IK-007, an EP4 receptor antagonist; IK-175, an AHR antagonist; and IK-412, a kynurenine-degrading enzyme. Additionally, Ikena is developing IK-930, an oral small-molecule inhibitor of the TEAD transcription factor involved in the Hippo pathway. Ikena Oncology, originally founded as Kyn Therapeutics in 2016, rebranded in December 2019 and is headquartered in Boston, Massachusetts. The company aims to address significant medical needs in oncology through innovative drug development.

RAPT Therapeutics is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing orally delivered small-molecule therapies for oncology and inflammatory diseases. It uses a proprietary discovery and development engine to create highly selective compounds that modulate immune responses. The company's lead oncology candidate, FLX475, targets the C-C motif chemokine receptor 4 and is in a Phase 1/2 program as monotherapy and in combination with pembrolizumab. The lead inflammation candidate, RPT193, is designed to selectively inhibit migration of type 2 T helper cells into inflamed tissues. Additional targets such as general control nonderepressible 2 and hematopoietic progenitor kinase 1 are in discovery. Founded in 2015 and headquartered in South San Francisco, the company aims to address unmet medical needs in cancer and inflammatory diseases.

Palvella Therapeutics is a biopharmaceutical company founded in 2015 and headquartered in Wayne, Pennsylvania. The company focuses on developing pathogenetically targeted therapies for serious and rare genetic skin diseases that lack approved treatments. Its lead candidate, QTORIN 3.9 % rapamycin anhydrous gel, is built on a patented QTORIN platform and is in late‑stage clinical development for two rare genodermatoses. Palvella’s approach emphasizes addressing the root cause of disease and delivering stable, room‑temperature formulations that penetrate the epidermis and dermis.

Ambrosia Biosciences is a drug discovery company focused on developing small molecule-based therapies aimed at treating obesity and other metabolic disorders. The company provides innovative solutions that utilize non-invasive methods for weight management and improving metabolic health. By prioritizing patient comfort and minimizing side effects compared to traditional medications, Ambrosia Biosciences seeks to enhance the management of these conditions effectively.

Olema Oncology is a preclinical biotechnology company dedicated to developing innovative therapies for the treatment and prevention of estrogen receptor-positive breast cancer. The company specializes in discovering and commercializing targeted treatments specifically designed for women's cancers. By leveraging its extensive understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance, Olema aims to create compounds that surpass existing therapies. The company's focus is on transforming the standard of care for both pre- and post-menopausal women with cancer, with an emphasis on developing more effective and convenient treatment options. Olema's pipeline includes drug candidates such as OP-1250 and OP-3136, which have progressed through discovery and preclinical studies.

Cidara Therapeutics, Inc. is a biotechnology company based in San Diego, California, established in 2012. It specializes in the discovery, development, and commercialization of innovative anti-infective therapies aimed at treating serious diseases. The company's lead product candidate, rezafungin acetate, is an echinocandin-class antifungal designed to address serious invasive fungal infections such as candidemia and invasive candidiasis, which are associated with high mortality rates. Additionally, Cidara is advancing its Cloudbreak platform, which focuses on developing antiviral Fc-conjugates for the prevention and treatment of various viral infections, including influenza, RSV, HIV, and coronaviruses. Through its unique therapeutic approaches, Cidara Therapeutics aims to enhance treatment paradigms and improve patient outcomes in the face of life-threatening illnesses.

Forte Biosciences is a biotechnology company specializing in dermatology and biopharmaceuticals. The company's lead product, FB-401, is a topically applied live biotherapeutic designed to treat inflammatory skin diseases, developed in collaboration with the National Institutes of Health and the National Institute of Allergy and Infectious Diseases. Additionally, Forte Biosciences is advancing another product candidate, FB-102, which is a proprietary therapeutic molecule aimed at addressing a range of autoimmune conditions, including graft-versus-host disease, vitiligo, and alopecia areata. The company is currently in the preclinical trial stage for FB-102, reflecting its commitment to developing innovative treatments for dermatological and autoimmune disorders.

Eledon Pharmaceuticals is a clinical-stage biotechnology company focused on developing treatments for patients undergoing organ or cellular transplantation and those with autoimmune and neurodegenerative diseases. Its lead compound, tegoprubart, is an anti-CD40L antibody targeting the CD40L pathway.

Inventiva Pharma is a clinical-stage biopharmaceutical company based in France, dedicated to developing oral small molecule therapies aimed at addressing significant unmet medical needs in fibrosis, lysosomal storage disorders, and oncology. The company has established a robust pipeline supported by a proprietary discovery engine and a wholly-owned research and development facility. It possesses an extensive library of molecules and a team with considerable expertise in developing compounds that target nuclear receptors, transcription factors, and epigenetic modulation. Inventiva is advancing clinical candidates, including lanifibranor, which is being developed for non-alcoholic steatohepatitis (NASH), a condition currently lacking approved treatments. Additionally, the company is engaged in a variety of pre-clinical therapy programs, further strengthening its portfolio in the fields of oncology, fibrosis, and rare diseases.

Bambusa Therapeutics operates as biotechnology company, that focuses on developing bispecific antibodies.

Tenax Therapeutics, Inc. is a specialty pharmaceutical company dedicated to the identification, development, and commercialization of products aimed at addressing cardiovascular and pulmonary diseases with significant unmet medical needs. Headquartered in Morrisville, North Carolina, Tenax focuses on levosimendan, a pharmaceutical product designed to reduce morbidity and mortality in cardiac surgery patients at risk for low cardiac output syndrome. The company is also actively conducting a Phase 2 clinical trial to explore the efficacy of levosimendan in treating pulmonary hypertension associated with heart failure with preserved ejection fraction. Additionally, Tenax is involved in developing novel formulations of imatinib mesylate, a kinase inhibitor with the potential to serve as a disease-modifying therapy for pulmonary arterial hypertension. Founded in 1967, Tenax Therapeutics underscores its commitment to advancing treatments within these critical therapeutic areas.

Ambrosia Biosciences is a drug discovery company focused on developing small molecule-based therapies aimed at treating obesity and other metabolic disorders. The company provides innovative solutions that utilize non-invasive methods for weight management and improving metabolic health. By prioritizing patient comfort and minimizing side effects compared to traditional medications, Ambrosia Biosciences seeks to enhance the management of these conditions effectively.

Celcuity is a clinical-stage biotechnology company that discovers new cancer sub-types and therapeutic options using its proprietary CELsignia diagnostic platform. This platform analyzes living tumor cells to identify specific abnormal cellular processes driving cancer, enabling the development of targeted therapies for patients.

AltruBio is a biopharmaceutical company dedicated to the development of targeted antibody therapeutics aimed at treating cancer and immune-related inflammatory diseases. With its research and development foundation established in Taipei, Taiwan, since 2000, the company focuses on addressing unmet medical needs through innovative therapeutic solutions. AltruBio has developed an efficient discovery platform that identifies and validates novel antibody therapeutics. The company is actively advancing several potential therapeutic antibodies that target various conditions, including autoimmune diseases and multiple forms of cancer, such as pancreatic, stomach, colorectal, ovarian, and lung cancers. By leveraging its expertise in antibody-drug conjugate therapy and developing specialized linker payloads, AltruBio strives to improve patient outcomes and enhance recovery from immune-mediated diseases.

Founded in 2022, Pheon Therapeutics specializes in developing Antibody-Drug Conjugates (ADCs) for challenging-to-treat cancers. Its primary focus is a first-in-class ADC targeting a novel marker overexpressed in various solid tumors.

Eledon Pharmaceuticals is a clinical-stage biotechnology company focused on developing treatments for patients undergoing organ or cellular transplantation and those with autoimmune and neurodegenerative diseases. Its lead compound, tegoprubart, is an anti-CD40L antibody targeting the CD40L pathway.

Diagonal Therapeutics is a biotechnology startup focused on discovering and developing agonist antibodies. The company utilizes a unique platform that integrates proprietary computational and experimental methodologies to address longstanding challenges in agonist antibody drug development. By overcoming these obstacles, Diagonal Therapeutics aims to enable medical practitioners to deliver therapies for conditions such as hereditary hemorrhagic telangiectasia and pulmonary arterial hypertension, thereby advancing treatment options for patients.

Molecular Templates, Inc. is a clinical-stage biopharmaceutical company based in Austin, Texas, dedicated to the discovery and development of biologic therapeutics aimed at treating cancer and other serious diseases. The company utilizes its proprietary engineered toxin body (ETB) platform to create therapies with unique mechanisms of action that differ from traditional antibody-drug conjugates. Its lead candidate, MT-3724, is currently undergoing Phase II clinical trials for relapsed and refractory diffuse large B-cell lymphoma and non-Hodgkin’s lymphoma. Additionally, Molecular Templates is developing other candidates, including MT-4019, which targets CD38, and has a partnership with Takeda Pharmaceutical Company to create CD38-targeted therapies for multiple myeloma. The company also collaborates with Vertex Pharmaceuticals to enhance the hematopoietic stem cell transplant process through novel conditioning regimens.

Avalo Therapeutics is a clinical-stage biopharmaceutical company that focuses on developing highly targeted therapeutics for immune dysregulation and other areas of significant unmet clinical need. The company employs a precision medicine approach in its research and development efforts. Its lead asset, AVTX-009, is an anti-IL-1B monoclonal antibody designed to address inflammatory diseases. In addition to AVTX-009, Avalo's pipeline includes quisovalimab, an anti-LIGHT monoclonal antibody, and AVTX-008, a BTLA agonist fusion protein, which further exemplify its commitment to advancing innovative treatments for complex medical conditions.

Tyra Biosciences, Inc. is a clinical-stage biotechnology company based in Carlsbad, California, dedicated to developing precision oncology therapies targeted at overcoming drug resistance in cancer treatment. Founded in 2018, the company utilizes its proprietary SNÅP platform to facilitate rapid and precise drug design by generating iterative molecular snapshots. This innovative approach allows Tyra to create next-generation therapies specifically aimed at addressing acquired resistance in tumors. The company's primary focus is on developing selective inhibitors of the Fibroblast Growth Factor Receptor (FGFR) family, which are implicated in approximately 7% of all cancers. Tyra's lead product candidate, TYRA-300, is designed to selectively inhibit FGFR3, initially targeting patients with metastatic urothelial carcinoma of the bladder and urinary tract.

Immunic Therapeutics is a clinical-stage biopharmaceutical company focused on developing selective oral immunology therapies to treat chronic inflammatory and autoimmune diseases. The company's pipeline includes three small molecule products. The lead program, IMU-838, is a selective immune modulator that blocks the enzyme DHODH, inhibiting the metabolism of activated immune cells and exhibiting antiviral effects. It is being developed for multiple sclerosis, ulcerative colitis, Crohn's disease, and primary sclerosing cholangitis. IMU-935, a selective inverse agonist of the transcription factor RORγt, targets psoriasis, castration-resistant prostate cancer, and Guillain-Barré syndrome. Additionally, IMU-856 aims to restore intestinal barrier function for diseases involving bowel barrier dysfunction.

Lassen Therapeutics is a biotechnology company focused on developing monoclonal antibodies as potential treatments for fibrosis, rare diseases, and oncology. Its lead candidate, LASN01, targets the IL-11 receptor alpha, a critical mediator in fibrosis and tumor microenvironment organization. By blocking IL-11, Lassen Therapeutics aims to offer a more effective treatment strategy compared to traditional approaches that focus on other factors, such as TGF-β and CTGF. The company's innovative biotherapeutics leverage advanced antibody technologies to address serious health conditions, ultimately improving the lives of patients suffering from these diseases.

AC Immune is a Swiss-based biopharmaceutical company focused on developing therapies for neurodegenerative diseases associated with protein misfolding. It uses its proprietary platforms to create antibodies, small molecules, and vaccines targeting various neurodegenerative indications.

Aro Biotherapeutics is a biotechnology company based in Philadelphia, Pennsylvania, focused on developing a novel protein drug platform known as Centyrins. These small, non-antibody protein scaffolds are designed to enhance treatment efficacy and safety for patients with cancer and other serious diseases. Aro Biotherapeutics has established a wholly-owned pipeline of Centyrins targeted at oncology and immunology applications. The unique structure of Centyrins allows for multi-specificity and the targeted delivery of complex drug payloads, including nucleic acids, which may aid in advancing therapeutic mechanisms and unlocking the potential of genetic medicines. Established in 2017, the company aims to innovate treatments that improve patient outcomes in challenging medical conditions.

Forward Therapeutics is a biopharmaceutical company focused on developing innovative oral small molecule therapies to treat chronic inflammatory disorders. The company's platform, driven by leading scientific expertise, enables the discovery and development of advanced treatments that aim to significantly improve patient outcomes and address unmet medical needs in this field.

VistaGen Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for central nervous system disorders, particularly depressive and social anxiety disorders. The company's lead product candidate, AV-101, is an orally available treatment currently in Phase 2 development for major depressive disorder, targeting patients who have not adequately responded to standard antidepressants. Additionally, VistaGen is advancing PH94B, a neuroactive nasal spray, which is preparing for Phase III clinical trials for the acute treatment of anxiety in adults with social anxiety disorder. Another product in its pipeline, PH10, is being planned for Phase 2b development as a treatment for major depressive disorder. VistaGen has established licensing and collaboration agreements to facilitate the clinical development and commercialization of its products, including a strategic partnership for PH94B in Greater China, South Korea, and Southeast Asia. Founded in 1998, VistaGen is headquartered in South San Francisco, California.

SAB Biotherapeutics is a clinical-stage biopharmaceutical company established in 2014, headquartered in Sioux Falls, South Dakota with additional offices in Cambridge, Massachusetts. The company specializes in developing immunotherapies using its proprietary DiversitAb platform, which employs transchromosomic cattle to produce large quantities of targeted human polyclonal antibodies without relying on human plasma or serum. SAB's pipeline includes therapies for conditions such as Type 1 diabetes (SAB-142), seasonal influenza (SAB-176), and Middle East Respiratory Syndrome Coronavirus (MERS-CoV, SAB-301).

Nimbus Therapeutics, LLC is a biotechnology company based in Cambridge, Massachusetts, focused on discovering and developing innovative medicines for serious diseases, including metabolic disorders, cancer, and immune-inflammatory conditions. Founded in 2009, the company utilizes a computational technology-driven approach to advance a pipeline of novel small-molecule therapeutics. Nimbus Therapeutics specializes in designing allosteric inhibitors, notably targeting Acetyl-CoA Carboxylase for conditions such as non-alcoholic steatohepatitis and hepatocellular carcinoma. The company has established strategic partnerships with organizations like Charles River Laboratories and Celgene Corporation to enhance its drug development efforts. In March 2015, Nimbus Discovery rebranded itself as Nimbus Therapeutics to better reflect its transition into a clinical-stage enterprise.

Olema Oncology is a preclinical biotechnology company dedicated to developing innovative therapies for the treatment and prevention of estrogen receptor-positive breast cancer. The company specializes in discovering and commercializing targeted treatments specifically designed for women's cancers. By leveraging its extensive understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance, Olema aims to create compounds that surpass existing therapies. The company's focus is on transforming the standard of care for both pre- and post-menopausal women with cancer, with an emphasis on developing more effective and convenient treatment options. Olema's pipeline includes drug candidates such as OP-1250 and OP-3136, which have progressed through discovery and preclinical studies.

CG Oncology, formerly known as Cold Genesys, is a privately held clinical-stage biopharmaceutical company specializing in the development of innovative oncolytic immunotherapies aimed at treating cancer. The company focuses on creating therapies that offer alternatives to conventional cancer treatments, particularly for patients with bladder cancer. Its lead candidate, cretostimogene grenadenorepvec, is a targeted intravesical immunotherapy agent designed to be delivered directly to the bladder. Currently, CG Oncology is conducting multiple clinical trials, including two phase three trials addressing high-risk and intermediate-risk non-muscle invasive bladder cancer (NMIBC), as well as a phase two study in combination with a checkpoint inhibitor for high-risk NMIBC. Through its research and clinical endeavors, CG Oncology aims to provide effective and less invasive treatment options for bladder cancer patients.

Molecular Templates, Inc. is a clinical-stage biopharmaceutical company based in Austin, Texas, dedicated to the discovery and development of biologic therapeutics aimed at treating cancer and other serious diseases. The company utilizes its proprietary engineered toxin body (ETB) platform to create therapies with unique mechanisms of action that differ from traditional antibody-drug conjugates. Its lead candidate, MT-3724, is currently undergoing Phase II clinical trials for relapsed and refractory diffuse large B-cell lymphoma and non-Hodgkin’s lymphoma. Additionally, Molecular Templates is developing other candidates, including MT-4019, which targets CD38, and has a partnership with Takeda Pharmaceutical Company to create CD38-targeted therapies for multiple myeloma. The company also collaborates with Vertex Pharmaceuticals to enhance the hematopoietic stem cell transplant process through novel conditioning regimens.

Crossbow Therapeutics is a biotechnology company focused on developing innovative cancer treatments. The company engineers antibodies to mimic T-cells, which are essential components of the immune system, aiming to enhance the quality of life for cancer patients. Their next-generation immunotherapies are designed to target previously unreachable cancer cell proteins with high precision, offering an efficient and selective approach to cancer treatment. By unlocking the therapeutic potential of T-cell receptor (TCR)-mimetic antibodies, Crossbow Therapeutics seeks to dramatically expand the capabilities of antibody therapy across various cancer types, ultimately improving patient outcomes.

Quanta Therapeutics is a biotechnology company focused on developing innovative cancer therapies targeting driver oncogenes, specifically those associated with RAS-driven cancers. The company employs an advanced platform that utilizes optical technology to identify small molecules capable of modulating the conformation of RAS proteins. This approach allows for the restoration of conformational control of active RAS signaling at the cell membrane, which is crucial in inhibiting the progression of various RAS-driven cancer types. Through its novel therapeutic candidates, Quanta aims to provide effective treatment options for cancers that have previously been deemed untreatable.

Delcath Systems, Inc. is an interventional oncology company based in New York that specializes in the treatment of primary and metastatic liver cancers. The company's primary product is Melphalan Hydrochloride for Injection, which is combined with the Delcath Hepatic Delivery System to deliver high-dose chemotherapy directly to the liver while minimizing systemic exposure and side effects. Delcath is currently conducting Phase III clinical trials, including the FOCUS Trial for patients with hepatic dominant ocular melanoma and the ALIGN Trial for intrahepatic cholangiocarcinoma. In addition to its clinical efforts, the company markets Melphalan Hydrochloride under the Delcath Hepatic CHEMOSAT Delivery System in Europe. Founded in 1988, Delcath Systems is dedicated to advancing treatment options for patients with liver cancer.

Unicycive Therapeutics provides development programs that focus on treating kidney diseases with significant unmet medical needs. It aims to open the way for a broad range of disease-modifying therapies by modifying the intracellular and extracellular concentrations of these various electrolytes and ions in Chronic Kidney Disease and Gitelman’s Syndrome and by addressing the underlying mitochondrial pathology and inflammation associated with Acute Kidney Disease. Unicycive Therapeutics was founded in 2016 and is headquartered in Los Altos, California.

Verastem, Inc. is a biopharmaceutical company dedicated to developing and commercializing innovative treatments aimed at improving the survival and quality of life for cancer patients. Based in Needham, Massachusetts, Verastem markets COPIKTRA (duvelisib), an oral medication indicated for adult patients with relapsed or refractory chronic lymphocytic leukemia and follicular lymphoma after multiple prior therapies. In addition to this approved therapy, the company is advancing its pipeline with the focal adhesion kinase inhibitor defactinib, which is being studied in combination with immunotherapies for various cancers, including pancreatic and ovarian cancers, as well as non-small cell lung cancer. Verastem's research emphasizes inhibiting critical signaling pathways that promote cancer cell survival and tumor growth, particularly those associated with the RAS/MAPK pathway. The company has formed collaborative agreements with Yakult Honsha Co., Ltd. and CSPC Pharmaceutical Group Limited to enhance its development efforts. Founded in 2010, Verastem continues to focus on late-stage development of its anticancer agents.

Palvella Therapeutics is a biopharmaceutical company founded in 2015 and headquartered in Wayne, Pennsylvania. The company focuses on developing pathogenetically targeted therapies for serious and rare genetic skin diseases that lack approved treatments. Its lead candidate, QTORIN 3.9 % rapamycin anhydrous gel, is built on a patented QTORIN platform and is in late‑stage clinical development for two rare genodermatoses. Palvella’s approach emphasizes addressing the root cause of disease and delivering stable, room‑temperature formulations that penetrate the epidermis and dermis.

Alpha9 Theranostics is a biopharma company that focuses on radiotherapeutics for the treatment of solid and hematologic malignancies. The company is creating a strong pipeline of radiopharmaceuticals to target solid and hematologic malignancies. Its systematic approach to radiotherapeutic design is fueled by a toolbox of technologies and chemistries, which offers broad potential for expansion into a multitude of oncology targets. Alpha9 Theranostics was founded in 2019 and is headquartered in Vancouver, Canada.

NLS Pharma is a clinical-stage drug development company focusing on neurobehavioral and neurocognitive disorders and their pharmacognosia. Its patient-centered approach increases the rate for success and our successful collaboration with experts across industry, academia allows for a target specific and customized approach.

Aravive Biologics is a clinical-stage biotechnology company based in Houston, Texas, founded in 2008. The company specializes in developing novel cancer therapeutics aimed at treating various types of malignancies, including solid tumors and hematologic cancers. Aravive's approach involves targeting critical survival pathways, with a key therapeutic candidate designed to act as a decoy that binds to the GAS6 pathway with high affinity, thereby preventing the activation of the AXL signaling pathway. This strategy is intended to inhibit cancer cell growth and survival.

Immunic Therapeutics is a clinical-stage biopharmaceutical company focused on developing selective oral immunology therapies to treat chronic inflammatory and autoimmune diseases. The company's pipeline includes three small molecule products. The lead program, IMU-838, is a selective immune modulator that blocks the enzyme DHODH, inhibiting the metabolism of activated immune cells and exhibiting antiviral effects. It is being developed for multiple sclerosis, ulcerative colitis, Crohn's disease, and primary sclerosing cholangitis. IMU-935, a selective inverse agonist of the transcription factor RORγt, targets psoriasis, castration-resistant prostate cancer, and Guillain-Barré syndrome. Additionally, IMU-856 aims to restore intestinal barrier function for diseases involving bowel barrier dysfunction.

Immunovant is a clinical-stage biopharmaceutical company focused on developing monoclonal antibodies for treating autoimmune diseases. Its lead candidate, IMVT-1401, targets the neonatal Fc receptor (FcRn) and is in Phase II trials for myasthenia gravis, thyroid eye disease, and warm autoimmune hemolytic anemia.

Allakos Inc. is a clinical-stage biopharmaceutical company founded in 2012 and headquartered in Redwood City, California. The company focuses on developing antibody-based therapeutics aimed at treating diseases associated with dysregulation of the T-helper type 2 immune response, which plays a crucial role in various allergic and inflammatory conditions. Its lead product, antolimab (AK002), is being investigated for the treatment of eosinophilic gastritis, eosinophilic gastroenteritis, chronic urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis. Additionally, Allakos is developing AK006, an antibody that targets the Siglec-6 receptor on mast cells, designed to activate the receptor's inhibitory function and reduce mast cell activation. Through these innovative therapies, Allakos aims to address the underlying mechanisms of diseases characterized by excessive inflammatory responses.

Nimbus Therapeutics, LLC is a biotechnology company based in Cambridge, Massachusetts, focused on discovering and developing innovative medicines for serious diseases, including metabolic disorders, cancer, and immune-inflammatory conditions. Founded in 2009, the company utilizes a computational technology-driven approach to advance a pipeline of novel small-molecule therapeutics. Nimbus Therapeutics specializes in designing allosteric inhibitors, notably targeting Acetyl-CoA Carboxylase for conditions such as non-alcoholic steatohepatitis and hepatocellular carcinoma. The company has established strategic partnerships with organizations like Charles River Laboratories and Celgene Corporation to enhance its drug development efforts. In March 2015, Nimbus Discovery rebranded itself as Nimbus Therapeutics to better reflect its transition into a clinical-stage enterprise.

Autobahn Therapeutics develops brain-targeting, small molecule therapies for central nervous system disorders. Its lead program ABX-002 is a thyroid hormone receptor beta agonist being developed as an adjunctive treatment for mood disorders, including major depressive disorder and bipolar depression. The company emphasizes precision tuning of CNS exposure, validated clinical and biologic targets, and biomarker-guided development across neuropsychiatry, neurodegeneration, and neuroinflammation to address high unmet medical needs and improve patient outcomes.

Kymera Therapeutics, Inc. is a biopharmaceutical company based in Watertown, Massachusetts, specializing in targeted protein degradation. Founded in 2015, the company employs a proprietary platform that utilizes the body's natural protein degradation system to selectively degrade disease-causing proteins. Kymera is advancing several therapeutic programs, including its IRAK4 program aimed at treating immunology-inflammation diseases such as hidradenitis suppurativa, atopic dermatitis, and rheumatoid arthritis. Additionally, it is developing the IRAKIMiD program for MYD88-mutated diffuse large B cell lymphoma and the STAT3 program targeting hematologic malignancies, solid tumors, and autoimmune diseases. By focusing on previously untreatable conditions and using innovative small molecule modalities, Kymera Therapeutics aims to revolutionize drug discovery and create effective treatments for challenging diseases.

ESSA Pharma Inc. is a clinical-stage pharmaceutical company based in Vancouver, Canada, established in 2009. The company is dedicated to developing innovative therapies for prostate cancer, particularly advanced stages of the disease. Its lead product candidate, EPI-7386, is an oral medication currently undergoing a Phase I clinical study aimed at treating patients with metastatic castration-resistant prostate cancer. ESSA's research focuses on small molecule drugs that selectively inhibit the N-terminal domain of the androgen receptor, a critical component for the growth and survival of prostate cancer cells. This strategic targeting represents a promising avenue for next-generation hormone therapy in the treatment of prostate cancer.

Dren Bio is a biotechnology company that specializes in protein engineering technologies aimed at depleting pathogenic cells, protein aggregates, and other disease-causing agents. The company operates under a holding business model, developing a diverse portfolio of projects that function as stand-alone assets. Dren Bio's platform is designed to address a range of health conditions, including hematologic neoplasms, solid tumors, autoimmune disorders, and diseases associated with protein aggregation. By focusing on innovative protein-based technologies, Dren Bio enables healthcare professionals to manage and treat various serious diseases more effectively.

Founded in Boston in 2016, Elektrofi is a preclinical-stage company focused on revolutionizing drug delivery. Its proprietary formulation system can efficiently process a wide range of therapeutic molecules, including large and complex proteins like monoclonal antibodies.

Concert Pharmaceuticals is a clinical‑stage biopharmaceutical company headquartered in Lexington, Massachusetts, founded in 2006. The company develops small‑molecule therapies for autoimmune and central nervous system disorders using a precision deuterium chemistry platform that modifies drug molecules to improve efficacy, safety, and reduce development risk. Its pipeline includes CTP‑543, a Phase III candidate for alopecia areata; CTP‑692, a Phase II candidate for schizophrenia; and AVP‑786, a Phase III combination therapy for neurologic and psychiatric conditions such as agitation in Alzheimer’s disease. Concert collaborates with Avanir, Cipla Technologies, Processa, and Jazz Pharmaceuticals to advance its candidates. The firm focuses on orally administered agents and repurposed drugs for conditions including cystic fibrosis, inflammation, narcolepsy, residual schizophrenia, major depressive disorder, and Alzheimer’s agitation.

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing innovative therapies utilizing Nanobody technology. The company is primarily dedicated to advancing Sonelokimab, an investigational Nanobody, aimed at treating various inflammatory conditions, particularly those affecting the skin and joints. Through its research and development efforts, MoonLake seeks to transform treatment outcomes for patients suffering from immunologic diseases.

Ventus Therapeutics is a biopharmaceutical company focused on discovering and developing innovative small molecule medicines that target the innate immune system. The company employs a structural immunology platform that provides deep insights into molecular structures and mechanisms, enabling precise targeting of the innate immune system. Ventus combines advanced protein engineering capabilities with cutting-edge rational and structure-based drug design tools to create therapeutics aimed at treating autoimmune diseases, inflammatory conditions, and cancer. The company is actively building a diverse pipeline of drug programs that address significant targets within the innate immune system, with the goal of advancing treatments for both acute and chronic inflammatory and immune-related diseases.

Simcha Therapeutics is a biopharmaceutical company focused on developing engineered cytokine immunotherapy for cancer treatment. Founded in 2018 and headquartered in New Haven, Connecticut, the company utilizes directed evolution to create novel cytokines that enhance the immune system's ability to combat diseases. Its lead program, ST-067, is a designer IL-18 cytokine that has demonstrated significant antitumor effects in animal models, both as a standalone treatment and in combination with anti-PD-1 checkpoint inhibitors. This innovative approach aims to provide patients with more effective immunotherapies, thereby improving their ability to fight cancer.

Septerna is a biotechnology company focused on discovering and developing oral small-molecule medicines that target G protein-coupled receptors (GPCRs). It operates a proprietary Native Complex Platform to accelerate GPCR drug discovery and aims to deliver therapies across endocrinology, immunology and inflammation, and metabolic diseases. The company is advancing a GPCR-focused pipeline with candidates such as SEP-786 (PTH1R) and SEP-631 (MRGPRX2), along with programs targeting TSHR, GLP-1R, GIPR, and GCGR, with the goal of translating GPCR biology into orally available medicines that address unmet patient needs.

Third Harmonic Bio is a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for severe allergies and inflammation. The company is focused on advancing its lead product candidate, THB001, which is a first-in-class, highly selective oral inhibitor of the KIT receptor, a key regulator of mast cell function and survival. Mast cells play a crucial role in mediating inflammation in allergic diseases, making this targeted approach significant for treatment. Additionally, Third Harmonic Bio is developing THB335, another potent and selective oral small-molecule KIT inhibitor aimed at addressing various mast cell-driven inflammatory conditions affecting the skin, airway, and gastrointestinal tract. Through its research and development efforts, Third Harmonic Bio seeks to provide new options for patients suffering from inflammatory diseases.

AN2 Therapeutics is a biopharmaceutical company dedicated to researching, developing, and commercializing innovative medicines targeting infectious diseases. Established in 2017, the company focuses on advancing a clinical-stage antibacterial compound and has a strategic partnership with Brii Biosciences.

Quanta Therapeutics is a biotechnology company focused on developing innovative cancer therapies targeting driver oncogenes, specifically those associated with RAS-driven cancers. The company employs an advanced platform that utilizes optical technology to identify small molecules capable of modulating the conformation of RAS proteins. This approach allows for the restoration of conformational control of active RAS signaling at the cell membrane, which is crucial in inhibiting the progression of various RAS-driven cancer types. Through its novel therapeutic candidates, Quanta aims to provide effective treatment options for cancers that have previously been deemed untreatable.

Exo Therapeutics, Inc. is a drug discovery and development company focused on addressing challenging pharmaceutical targets. Founded in 2018 and based in Cambridge, Massachusetts, the company utilizes its proprietary ExoSight platform to create a pipeline of drug candidates that target exosites, which are unique and distal binding pockets on enzymes. This innovative approach aims to reprogram enzyme activity, leading to precise and effective therapeutic outcomes, particularly in oncology and inflammation, while also minimizing potential side effects for patients. Exo Therapeutics is committed to unlocking breakthrough therapeutics through its team of experienced researchers and a deep understanding of complex disease mechanisms.

Alpine Immune Sciences, Inc. is a clinical-stage biopharmaceutical company based in Seattle, Washington, that specializes in the discovery and development of protein-based immunotherapies aimed at treating cancer, autoimmune, and inflammatory disorders. The company leverages a proprietary scientific platform to transform native immune system proteins into innovative therapeutic candidates. Its leading programs include ALPN-101, a dual antagonist targeting the inducible T cell costimulator and CD28 pathways, designed for autoimmune and inflammatory conditions, and ALPN-303, a dual antagonist of the B cell activating factor and proliferation-inducing ligand, which is vital for B cell activation and survival. Additionally, Alpine Immune Sciences has established a collaboration with Kite Pharma to explore immunotherapies targeting the immune synapse for cancer treatment.

Aadi Bioscience is a clinical-stage biopharmaceutical company developing precision therapies for cancers driven by mTOR pathway alterations. It focuses on targeted mTOR inhibitors to treat genetically defined cancers, including alterations in TSC1 or TSC2 genes, where conventional inhibitors have struggled with pharmacology, delivery, safety, or tumor targeting. The company is advancing ABI-009, a clinical-phase mTOR inhibitor intended for oncology indications as well as cardiovascular and metabolic contexts. Aadi aims to bring transformative therapies to patients with ultra-rare cancers such as PEComa, and it traces its origins to an earlier name, with its operations based in Pacific Palisades, California, and a founding year of 2011.

Nimbus Therapeutics, LLC is a biotechnology company based in Cambridge, Massachusetts, focused on discovering and developing innovative medicines for serious diseases, including metabolic disorders, cancer, and immune-inflammatory conditions. Founded in 2009, the company utilizes a computational technology-driven approach to advance a pipeline of novel small-molecule therapeutics. Nimbus Therapeutics specializes in designing allosteric inhibitors, notably targeting Acetyl-CoA Carboxylase for conditions such as non-alcoholic steatohepatitis and hepatocellular carcinoma. The company has established strategic partnerships with organizations like Charles River Laboratories and Celgene Corporation to enhance its drug development efforts. In March 2015, Nimbus Discovery rebranded itself as Nimbus Therapeutics to better reflect its transition into a clinical-stage enterprise.

Point Biopharma Global Inc., established in 2019 and headquartered in Toronto, Canada, specializes in the development and commercialization of radioligand therapies for cancer treatment. The company's portfolio comprises several assets, including PNT2002, PNT2004, PNT2003, and PNT2001. Point Biopharma leverages its expertise in radioisotopes like Actinium-225 and Lutetium-177, along with advanced manufacturing technology and a patient-centric approach, to revolutionize theragnostic drug development and radioligand commercialization on a global scale.

KAHR medical is a biopharmaceutical company developing fusion protein drugs for cancer and autoimmune disease treatment. Founded in 2005, it specializes in immuno-oncology, focusing on T-cell mediated tumor destruction and targeting CD47 tumors.

Numab Therapeutics is an oncology-focused biopharmaceutical company that designs and develops antibody-based and multispecific therapeutics for cancer, inflammatory diseases, autoimmunity, and related severe conditions. It employs a plug-and-play platform that reduces the randomness of discovery and aims to predictably yield mono- or multispecific antibody fragments with tailored pharmacokinetic properties to engage multiple targets. Founded in 2011 and based in Wädenswil, Switzerland, Numab pursues immuno-oncology and inflammation programs through this multispecific approach, prioritizing therapies with improved selectivity and potential clinical efficacy.

MoonLake Immunotherapeutics is a clinical-stage biopharmaceutical company focused on developing innovative therapies utilizing Nanobody technology. The company is primarily dedicated to advancing Sonelokimab, an investigational Nanobody, aimed at treating various inflammatory conditions, particularly those affecting the skin and joints. Through its research and development efforts, MoonLake seeks to transform treatment outcomes for patients suffering from immunologic diseases.

Alpha9 Theranostics is a biopharma company that focuses on radiotherapeutics for the treatment of solid and hematologic malignancies. The company is creating a strong pipeline of radiopharmaceuticals to target solid and hematologic malignancies. Its systematic approach to radiotherapeutic design is fueled by a toolbox of technologies and chemistries, which offers broad potential for expansion into a multitude of oncology targets. Alpha9 Theranostics was founded in 2019 and is headquartered in Vancouver, Canada.

Janux Therapeutics develops immunotherapies that target tumors without harming healthy tissue. Its proprietary technology enables two distinct bispecific platforms: Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr), designed to stimulate the immune system's response against cancer.

AltruBio is a biopharmaceutical company dedicated to the development of targeted antibody therapeutics aimed at treating cancer and immune-related inflammatory diseases. With its research and development foundation established in Taipei, Taiwan, since 2000, the company focuses on addressing unmet medical needs through innovative therapeutic solutions. AltruBio has developed an efficient discovery platform that identifies and validates novel antibody therapeutics. The company is actively advancing several potential therapeutic antibodies that target various conditions, including autoimmune diseases and multiple forms of cancer, such as pancreatic, stomach, colorectal, ovarian, and lung cancers. By leveraging its expertise in antibody-drug conjugate therapy and developing specialized linker payloads, AltruBio strives to improve patient outcomes and enhance recovery from immune-mediated diseases.

GH Research is a clinical-stage biopharmaceutical company focused on developing therapies for psychiatric and neurological disorders, with an emphasis on treatment-resistant depression. It is advancing novel and proprietary mebufotenin (5-MeO-DMT) therapies, including inhalable and intravenous product candidates, to provide transformative treatment options for patients who do not respond to existing therapies. The portfolio includes GH001, an inhalable mebufotenin candidate, and GH002, an intravenous candidate. The company concentrates its activities in research and development to create practice-changing solutions for depression.

Ventus Therapeutics is a biopharmaceutical company focused on discovering and developing innovative small molecule medicines that target the innate immune system. The company employs a structural immunology platform that provides deep insights into molecular structures and mechanisms, enabling precise targeting of the innate immune system. Ventus combines advanced protein engineering capabilities with cutting-edge rational and structure-based drug design tools to create therapeutics aimed at treating autoimmune diseases, inflammatory conditions, and cancer. The company is actively building a diverse pipeline of drug programs that address significant targets within the innate immune system, with the goal of advancing treatments for both acute and chronic inflammatory and immune-related diseases.

Tyra Biosciences, Inc. is a clinical-stage biotechnology company based in Carlsbad, California, dedicated to developing precision oncology therapies targeted at overcoming drug resistance in cancer treatment. Founded in 2018, the company utilizes its proprietary SNÅP platform to facilitate rapid and precise drug design by generating iterative molecular snapshots. This innovative approach allows Tyra to create next-generation therapies specifically aimed at addressing acquired resistance in tumors. The company's primary focus is on developing selective inhibitors of the Fibroblast Growth Factor Receptor (FGFR) family, which are implicated in approximately 7% of all cancers. Tyra's lead product candidate, TYRA-300, is designed to selectively inhibit FGFR3, initially targeting patients with metastatic urothelial carcinoma of the bladder and urinary tract.

Viracta Therapeutics, Inc. is a clinical-stage drug development company based in Cardiff, California, that specializes in precision oncology focused on virus-associated malignancies. The company utilizes a viral activation therapy platform to develop treatments for cancers linked to the Epstein-Barr Virus (EBV) and other virus-related diseases. Its lead investigational drug, nanatinostat, is being evaluated in combination with the antiviral valganciclovir as a potential oral therapy for EBV-positive lymphoma, including post-transplant lymphoproliferative disorder, plasmablastic lymphoma, and angioimmunoblastic T cell lymphoma. Viracta is also exploring the application of this approach to other EBV-associated conditions, such as nasopharyngeal carcinoma and gastric carcinoma. Founded in 2007 and rebranded from HemaQuest Pharmaceuticals in 2015, Viracta Therapeutics is actively conducting multiple clinical trials to advance its therapeutic candidates.

Silence Therapeutics plc is a biotechnology company based in London, specializing in the discovery and development of innovative RNA therapeutics. The company focuses on utilizing short interfering RNA (siRNA) technology to modulate gene expression and address various medical conditions, including hematology, cardiovascular diseases, and rare metabolic disorders. Its pipeline includes several product candidates, such as SLN124, aimed at treating iron overload disorders by silencing the TMPRSS6 gene, and SLN360, which targets the LPA gene to reduce the risk of cardiovascular diseases. Silence Therapeutics has established strategic collaborations with major organizations, including AstraZeneca, to advance the development of siRNA therapeutics across multiple disease areas. The company leverages its proprietary genetic toolkit and delivery systems to optimize therapeutic outcomes, harnessing the body's natural biological mechanisms for effective treatment.

Day One Biopharmaceuticals is a clinical-stage biotechnology company focused on developing targeted therapies for genetically defined cancers across all ages, with an initial emphasis on pediatric patients. The company aims to bring effective cancer treatments to families by advancing therapies that can benefit both children and adults, prioritizing programs that can progress to the market rapidly. Day One pursues licensing or acquisition of promising products from research institutions and industry partners to expand its pipeline. Its lead candidate, DAY101, is an oral, brain-penetrant, highly selective type II pan-RAF kinase inhibitor designed to target cancers driven by the RAF signaling pathway. By applying insights from childhood cancer biology, the company seeks to address unmet needs in oncology and broaden access to precision therapies.

Shoreline Biosciences, Inc. is a biotechnology company based in La Jolla, California, founded in 2020. The company specializes in developing cell-based immunotherapies aimed at treating seriously ill patients. Shoreline's proprietary technology platform leverages advanced methods in induced pluripotent stem cell (iPSC) differentiation and genetic programming, specifically targeting the IL-15/CISH pathway. This approach enhances the metabolic fitness and persistence of engineered natural killer (NK) cells, improving their anti-cancer activity. Shoreline's focus includes creating clinically effective immunotherapies using iPSC-derived NK cells and macrophages, providing innovative and cost-effective treatment options for oncology and other serious health conditions.

Aileron Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel stabilized cell-permeating alpha-helical peptides for oncology and other therapeutic areas. Its lead product candidate, ALRN-6924, is in Phase 2a trials for advanced solid tumors and peripheral T-cell lymphoma, as well as Phase I trials for acute myeloid leukemia and myelodysplastic syndrome.

Ikena Oncology, Inc. is a biotechnology company focused on discovering and developing biomarker-driven therapies for cancer treatment. It specializes in precision oncology by targeting pathways essential for cancer growth and therapeutic resistance, particularly within the Hippo and RAS signaling networks. The company's portfolio includes several preclinical and discovery-stage programs, such as IK-007, an EP4 receptor antagonist; IK-175, an AHR antagonist; and IK-412, a kynurenine-degrading enzyme. Additionally, Ikena is developing IK-930, an oral small-molecule inhibitor of the TEAD transcription factor involved in the Hippo pathway. Ikena Oncology, originally founded as Kyn Therapeutics in 2016, rebranded in December 2019 and is headquartered in Boston, Massachusetts. The company aims to address significant medical needs in oncology through innovative drug development.

Gritstone bio is a biotechnology company focused on developing immunotherapies for cancer and infectious diseases. The company initially concentrated on tumor-specific neoantigens but has expanded its programs to include viral antigens found on the surface of infected cells. Gritstone bio's approach leverages the body's natural immune system recognition of targets on abnormal cells, which is applicable to both anti-tumor and anti-viral immunity. Their pipeline includes several product candidates for treating solid tumors, such as GRANITE, SLATE, and CORAL. The company operates in a field that has seen significant advancements with the development and commercialization of immunotherapy drugs like checkpoint inhibitors, transforming cancer treatment.

Aro Biotherapeutics is a biotechnology company based in Philadelphia, Pennsylvania, focused on developing a novel protein drug platform known as Centyrins. These small, non-antibody protein scaffolds are designed to enhance treatment efficacy and safety for patients with cancer and other serious diseases. Aro Biotherapeutics has established a wholly-owned pipeline of Centyrins targeted at oncology and immunology applications. The unique structure of Centyrins allows for multi-specificity and the targeted delivery of complex drug payloads, including nucleic acids, which may aid in advancing therapeutic mechanisms and unlocking the potential of genetic medicines. Established in 2017, the company aims to innovate treatments that improve patient outcomes in challenging medical conditions.

Elevation Oncology develops precision medicines for genomically defined cancers. Its lead candidate, seribantumab, inhibits tumor growth driven by NRG1 fusions, currently in Phase 2 trials.

Dren Bio is a biotechnology company that specializes in protein engineering technologies aimed at depleting pathogenic cells, protein aggregates, and other disease-causing agents. The company operates under a holding business model, developing a diverse portfolio of projects that function as stand-alone assets. Dren Bio's platform is designed to address a range of health conditions, including hematologic neoplasms, solid tumors, autoimmune disorders, and diseases associated with protein aggregation. By focusing on innovative protein-based technologies, Dren Bio enables healthcare professionals to manage and treat various serious diseases more effectively.

Nimbus Therapeutics, LLC is a biotechnology company based in Cambridge, Massachusetts, focused on discovering and developing innovative medicines for serious diseases, including metabolic disorders, cancer, and immune-inflammatory conditions. Founded in 2009, the company utilizes a computational technology-driven approach to advance a pipeline of novel small-molecule therapeutics. Nimbus Therapeutics specializes in designing allosteric inhibitors, notably targeting Acetyl-CoA Carboxylase for conditions such as non-alcoholic steatohepatitis and hepatocellular carcinoma. The company has established strategic partnerships with organizations like Charles River Laboratories and Celgene Corporation to enhance its drug development efforts. In March 2015, Nimbus Discovery rebranded itself as Nimbus Therapeutics to better reflect its transition into a clinical-stage enterprise.

Rezolute Inc., established in 2010 and headquartered in Redwood City, California, is a clinical-stage biopharmaceutical company focused on developing therapies for rare and metabolic diseases. The company's primary product candidate, RZ358, is a human monoclonal antibody currently in Phase 2b trials for treating congenital hyperinsulinism, an ultra-rare pediatric genetic disorder. Additionally, Rezolute is advancing RZ402, a small molecule plasma kallikrein inhibitor in preclinical stages for diabetic macular edema treatment. The company aims to improve existing standards of care by applying proprietary formulation and manufacturing capabilities to known molecules.

Eledon Pharmaceuticals is a clinical-stage biotechnology company focused on developing treatments for patients undergoing organ or cellular transplantation and those with autoimmune and neurodegenerative diseases. Its lead compound, tegoprubart, is an anti-CD40L antibody targeting the CD40L pathway.

Rain Oncology Inc. is a late-stage precision oncology company focused on developing targeted therapies aimed at oncogenic drivers. The company employs a genetic selection strategy to identify patients who are most likely to benefit from its treatments, utilizing a tumor-agnostic approach that prioritizes the underlying genetics of tumors over traditional histological classifications. Its lead product candidate, milademetan, is a small molecule oral inhibitor of MDM2, which plays a role in various cancers. Additionally, Rain Oncology is advancing a preclinical program aimed at inducing synthetic lethality in cancer cells by inhibiting RAD52, further diversifying its therapeutic pipeline.

ESSA Pharma Inc. is a clinical-stage pharmaceutical company based in Vancouver, Canada, established in 2009. The company is dedicated to developing innovative therapies for prostate cancer, particularly advanced stages of the disease. Its lead product candidate, EPI-7386, is an oral medication currently undergoing a Phase I clinical study aimed at treating patients with metastatic castration-resistant prostate cancer. ESSA's research focuses on small molecule drugs that selectively inhibit the N-terminal domain of the androgen receptor, a critical component for the growth and survival of prostate cancer cells. This strategic targeting represents a promising avenue for next-generation hormone therapy in the treatment of prostate cancer.

Olema Oncology is a preclinical biotechnology company dedicated to developing innovative therapies for the treatment and prevention of estrogen receptor-positive breast cancer. The company specializes in discovering and commercializing targeted treatments specifically designed for women's cancers. By leveraging its extensive understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance, Olema aims to create compounds that surpass existing therapies. The company's focus is on transforming the standard of care for both pre- and post-menopausal women with cancer, with an emphasis on developing more effective and convenient treatment options. Olema's pipeline includes drug candidates such as OP-1250 and OP-3136, which have progressed through discovery and preclinical studies.

Elevation Oncology develops precision medicines for genomically defined cancers. Its lead candidate, seribantumab, inhibits tumor growth driven by NRG1 fusions, currently in Phase 2 trials.

Molecular Partners is a clinical-stage biopharmaceutical company dedicated to advancing modern medicine through the development of innovative therapies. The company specializes in a novel class of small protein therapeutics known as DARPin therapeutics, which are designed to target serious diseases, including cancer and sight-threatening disorders. Molecular Partners' product pipeline is organized into three primary areas: ophthalmology, focusing on therapies for retinal diseases such as wet age-related macular degeneration and diabetic macular edema; oncology, which includes DARPin candidates that feature unique mechanisms of action; and additional therapeutic areas. The firm's commitment to developing potent and versatile treatments positions it at the forefront of biopharmaceutical innovation.

Cogent Biosciences is a biotechnology company dedicated to developing precision therapies for genetically defined diseases, aiming to treat the underlying causes and improve patient lives. The company employs proprietary T-cell engineering technology alongside tumor-targeting antibodies to harness the body's immune system against cancer. One of its key programs, CGT9486, is a selective tyrosine kinase inhibitor designed to inhibit specific mutations in KIT exon 17, which are associated with Systemic Mastocytosis and advanced gastrointestinal stromal tumors (GIST).

Autobahn Therapeutics develops brain-targeting, small molecule therapies for central nervous system disorders. Its lead program ABX-002 is a thyroid hormone receptor beta agonist being developed as an adjunctive treatment for mood disorders, including major depressive disorder and bipolar depression. The company emphasizes precision tuning of CNS exposure, validated clinical and biologic targets, and biomarker-guided development across neuropsychiatry, neurodegeneration, and neuroinflammation to address high unmet medical needs and improve patient outcomes.

Palvella Therapeutics is a biopharmaceutical company founded in 2015 and headquartered in Wayne, Pennsylvania. The company focuses on developing pathogenetically targeted therapies for serious and rare genetic skin diseases that lack approved treatments. Its lead candidate, QTORIN 3.9 % rapamycin anhydrous gel, is built on a patented QTORIN platform and is in late‑stage clinical development for two rare genodermatoses. Palvella’s approach emphasizes addressing the root cause of disease and delivering stable, room‑temperature formulations that penetrate the epidermis and dermis.

Surface Oncology, Inc. is a clinical-stage immuno-oncology company based in Cambridge, Massachusetts, focused on developing innovative cancer therapies. The company specializes in creating human immunoglobulin isotype G4 monoclonal antibodies, including SRF231, which inhibits CD47; NZV930, which targets CD73; SRF617, which inhibits CD39; SRF388, aimed at interleukin 27; and SRF813, which targets CD112R. Additionally, Surface Oncology is advancing several preclinical programs that address other critical elements of the tumor microenvironment, such as regulatory T cells and natural killer cells. The company has established strategic collaborations with Novartis Institutes for Biomedical Research and Merck Sharp & Dohme Corp. to advance the development of its therapies, including evaluating the combination of SRF617 with Merck’s KEYTRUDA. Founded in 2014, Surface Oncology aims to leverage novel immunotherapy targets and insights into cancer immuno-biology to enhance anti-tumor immune responses.

Kymera Therapeutics, Inc. is a biopharmaceutical company based in Watertown, Massachusetts, specializing in targeted protein degradation. Founded in 2015, the company employs a proprietary platform that utilizes the body's natural protein degradation system to selectively degrade disease-causing proteins. Kymera is advancing several therapeutic programs, including its IRAK4 program aimed at treating immunology-inflammation diseases such as hidradenitis suppurativa, atopic dermatitis, and rheumatoid arthritis. Additionally, it is developing the IRAKIMiD program for MYD88-mutated diffuse large B cell lymphoma and the STAT3 program targeting hematologic malignancies, solid tumors, and autoimmune diseases. By focusing on previously untreatable conditions and using innovative small molecule modalities, Kymera Therapeutics aims to revolutionize drug discovery and create effective treatments for challenging diseases.

ALX Oncology is a clinical-stage immuno-oncology company based in Burlingame, California, established in 2015. The company specializes in developing innovative therapies aimed at treating various forms of cancer, with a particular focus on its lead product candidate, ALX148. This therapeutic agent is designed to block the CD47 protein, which cancer cells exploit to evade the immune system. ALX148 is currently being investigated for its efficacy in treating myelodysplastic syndromes, acute myeloid leukemia, and several solid tumor types, including head and neck squamous cell carcinoma and certain gastric cancers. The company leverages advanced protein engineering technologies to enhance the affinity of its CD47 blockers, aiming to minimize hematologic toxicities often associated with existing treatments. ALX Oncology's commitment to improving cancer therapies is rooted in pioneering research conducted by its founders at Stanford University.

Inventiva Pharma is a clinical-stage biopharmaceutical company based in France, dedicated to developing oral small molecule therapies aimed at addressing significant unmet medical needs in fibrosis, lysosomal storage disorders, and oncology. The company has established a robust pipeline supported by a proprietary discovery engine and a wholly-owned research and development facility. It possesses an extensive library of molecules and a team with considerable expertise in developing compounds that target nuclear receptors, transcription factors, and epigenetic modulation. Inventiva is advancing clinical candidates, including lanifibranor, which is being developed for non-alcoholic steatohepatitis (NASH), a condition currently lacking approved treatments. Additionally, the company is engaged in a variety of pre-clinical therapy programs, further strengthening its portfolio in the fields of oncology, fibrosis, and rare diseases.

Syndax Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company based in Waltham, Massachusetts, specializing in the development of therapies for cancer treatment. The company's lead candidate, entinostat, is a class I HDAC inhibitor currently in Phase III trials for advanced hormone receptor-positive, HER2-negative breast cancer. Additionally, Syndax is advancing SNDX-5613, a selective inhibitor targeting the Menin-MLL binding interaction, in Phase I/II trials for acute myeloid leukemia with specific mutations. The company also explores entinostat in combination with immunotherapies such as Keytruda and Tecentriq for various cancers, including non-small cell lung cancer and metastatic breast cancer. Furthermore, Syndax is developing axatilimab, a monoclonal antibody targeting the CSF-1 receptor, currently in trials for chronic graft-versus-host disease. The company maintains collaborative relationships with several major pharmaceutical entities and research organizations to enhance its drug development efforts. Founded in 2005, Syndax Pharmaceuticals is committed to advancing innovative treatments for patients with challenging malignancies.

Infinity Pharmaceuticals is a clinical-stage biotechnology company focused on developing innovative therapies for cancer treatment. Its lead product, eganelisib, is an oral immuno-oncology agent designed to reprogram macrophages and address immune suppression in cancer. Infinity is conducting multiple clinical studies, including the global MARIO-275 trial, which investigates eganelisib in combination with Opdivo® for patients with urothelial cancer. The company is also exploring eganelisib in various combinations for front-line treatment in advanced cancers, including triple-negative breast cancer and renal cell carcinoma, evaluating it alongside other therapeutics such as Tecentriq® and Abraxane®. Additionally, Infinity is collaborating with Arcus Biosciences to assess a novel regimen combining eganelisib with etrumadenant and Doxil® in advanced triple-negative breast cancer patients. The company is committed to developing treatments for various hematologic malignancies and solid tumors, leveraging its strategic partnerships to advance its oncology programs.

Black Diamond Therapeutics, Inc., established in 2014 and headquartered in Cambridge, Massachusetts, specializes in precision oncology medicine. The company discovers and develops small molecule therapies that are tumor-agnostic, meaning they target specific genetic mutations across various cancer types rather than being limited to a single cancer indication. Its lead product candidate, BDTX-189, inhibits non-canonical and oncogenic mutations of ErbB kinases epidermal growth factor receptor (EGFR). The company's Mutation-Allostery-Pharmacology platform enables it to target undrugged mutations in patients with genetically defined cancers, offering new treatment options where few exist. Black Diamond Therapeutics is also advancing early-stage pipeline programs targeting allosteric mutations in other cancer-related kinases.