Tag Archives: books

The Needle Issue #25

14 Apr
Juan-Carlos-Lopez
Juan Carlos Lopez
Andy-Marshall
Andy Marshall

The approval of multiple anti-amyloid monoclonal antibodies (mAbs) — aducanumab (Aduhelm; now withdrawn), lecanemab (Leqembi) and donanemab (Kisunla) — over the past five years has opened the era of disease-modifying Alzheimer’s drugs, albeit with only modest benefits in addressing cognitive decline (30% slowing) and associated serious safety risks, such as CNS inflammation and cerebral hemorrhages, which has limited clinical uptake. While many drug development programs target biological processes other than amyloid formation (e.g., tau and tangles, neurotransmitter receptors, neuroinflammation, autophagy, and mitochondrial or metabolic dysfunction), companies continue to optimize anti-amyloid monoclonals, but also look for alternative ways to therapeutically target Aβ.

One alternative therapeutic modality to antibodies is chimeric antigen receptor (CAR) immune cell therapy. In recent weeks, we have been thinking a lot about in vivo chimeric antigen receptor (CAR)-T therapies, which were one of the dealmaking trends in 2025, and we recommend readers check out an excellent summary of trends in the area from the consultancy firm Scitaris (you don’t even have to give them your details to download the report).

CAR-T treatments have established their clinical niche as last-ditch treatments for B-cell malignancies, with some remarkable outcomes for late-stage patients. In some cases, they have been shown to be at least twice as effective as T-cell engager bispecific antibodies in clinical studies. But they remain rather blunt instruments.

Despite advances in the clinical management of cytokine-release syndrome and immune effector cell neurotoxicity syndrome (ICANS), CAR-T treatments continue to be associated with serious risks. And while there have been advances in managing these adverse eventsatypical non-ICANS neurotoxicities (NINTs) can also create serious clinical management issues, with risk factors predisposing patients to development still only poorly understood.

That said, over the past year, we have seen an increasing trend for the use of CAR-T treatments outside oncology. They have started to be applied with promising efficacy in various areas of autoimmunity (systemic lupus erythrematosuslupus nephritissystemic sclerosisSjögren’s syndromeantisynthetase syndromemyasthenia gravis and idiopathic inflammatory myopathies) and neuroinflammatory conditions (multiple sclerosis). In this respect, a recent paper in Science caught our attention. In it, Marco Colonna and his colleagues at Washington University in St. Louis harness astrocytes to clear amyloid plaques by promoting their ability to phagocytize Aβ.

To that end, they used in vivo gene therapy to generate astrocytes carrying chimeric antigen receptors (“CAR-As”), a strategy not unlike the one used in cancer immunotherapy. Although both macrophages (CAR-Ms) and conventional CAR-Ts have been tested in preclinical models of Alzheimer’s disease with limited success, this study reports the first attempt to directly engineer astrocytes in the body to generate CAR-As.

In broad terms, the construct used to generate CAR-As consisted of an Aβ-binding domain and the phagocytic signaling protein MEGF10 (multiple epidermal growth factor-like domains protein 10). The team examined a variety of constructs and chose two for in vivo testing. One of them combined a fragment from the Aβ-binding antibody crenezumab and MEGF10, which is primarily expressed in astrocytes. The second construct combined a fragment of aducanumab with the phagocytosis receptor Dectin-1, which is primarily expressed in microglia.

The authors packaged the constructs in an adeno-associated viral (AAV) vector under the control of an astrocyte-specific promoter and injected them intravenously into 5xFAD mice (which carry five familial Alzheimer’s disease (FAD) mutations, driving rapid Aβ plaque formation, synaptic loss, and cognitive decline starting around 2–4 months). Both CAR-As reduced amyloid burden and neuritic dystrophy, and the treatment worked both in the prophylactic and therapeutic settings.

Single-nucleus RNA sequencing and immunostaining showed that the CAR-As adopted the transcriptomic profile of activated astrocytes and readily clustered around amyloid plaques. Microglial cells, in turn, also responded to the treatment by showing a reduction of the disease-associated transcriptomic profile that is often seen after administration of monoclonal anti-Aβ antibodies. This is of interest because this disease profile of microglial cells has been suggested to contribute to the inflammatory reaction sometimes seen after Alzheimer’s immunotherapy.

A caveat of the study is that the authos saw no improvements in cognition following therapy, albeit behavioral results in mouse models have been notoriously poor at predicting outcomes in humans. However, the translational questions don’t stop there.

If in clinical practice the CAR-A approach would require an AAV vector, then immunogenicity of the treatment is going to be an issue. Pre-exposure to AAV is often a problem for gene-therapy programs, where patients are much younger. Given that Alzheimer’s is a disease associated with an elderly population, immunogenicity is likely to be exacerbated. Similarly, the delivery of 1013–1014 viral genomes to elderly patients living with Alzheimer’s—many of whom will already have a brain prone to neuroinflammation—makes the specter of unwanted side effects a major concern. In this respect, finding Alzheimer’s patients whose disease stage and age would be appropriate for a therapy with potentially highly toxic consequences for fragile recipients is also difficult to gauge.

That is not to say that CAR-immune cell therapy may not have a place in CNS disease. It just seems like neurological conditions, such as multiple sclerosis where patients are younger and potentially less fragile, are the place where much of the translational groundwork and clinical management for CAR-A or CAR-T therapies must be worked out before moving into neurodegenerative disease for elderly and cognitively compromised patients.

RESI Europe 2026 Innovator’s Pitch Challenge Winners 

31 Mar

By Claire Jeong, Chief Conference Officer, Vice President of Investor Research, Asia BD, LSN

At RESI Europe 2026 in Lisbon, more than 20 innovative companies participated in the Innovator’s Pitch Challenge (IPC), showcasing cutting-edge technologies across drugs, devices, diagnostics, and digital health. The IPC continues to serve as a powerful platform for early-stage life science companies to engage directly with active investors and strategic partners. 

Each finalist delivered a 6-minute pitch followed by a 7-minute live Q&A with a panel of investor judges, creating a dynamic and interactive evaluation process. Beyond the stage, participating companies also connected with attendees through dedicated poster presentations and 1:1 partnering meetings, maximizing visibility and investor engagement throughout the event. 

A defining feature of the IPC is the RESI cash voting system. Registered attendees, including investors, startup executives, and industry experts, allocated their RESI cash to the companies they found most compelling. Voting was based on pitch performance, Q&A responses, and direct interactions during partnering meetings and networking sessions. 

Life Science Nation is proud to announce the top three winners of the RESI Europe 2026 Innovator’s Pitch Challenge: 

1st Place 2nd Place 3rd Place
StimOxyGen Amets Biotechnology You2Yourself

These companies stood out for their strong scientific foundations, clear value propositions, and ability to engage investor interest. 

Applications are now open for upcoming Innovator’s Pitch Challenges. Companies can apply to pitch at RESI San Diego 2026 and take the stage in front of a global network of investors and partners. 

Apply to Pitch at RESI San Diego

Best Practices for Cap Table Management: What Founders Need to Know Before Their Next Raise 

31 Mar

By Sougato Das, President and COO, LSN

Sougato-Das

Early-stage companies often focus heavily on product development, market traction, and investor outreach—but one of the most critical foundations of long-term success lies in how equity is structured from the very beginning. A well-managed cap table is not just an administrative tool; it is a strategic asset that can influence fundraising outcomes, talent acquisition, and overall company growth.

To help founders navigate this essential aspect of building a company, J.P. Morgan and Polsinelli are hosting an upcoming webinar, “Best Practices for Cap Table Management.” This practical, founder-focused session is designed to equip early-stage leaders with the knowledge needed to make informed equity decisions and avoid costly mistakes down the road.

Register for the Webinar

The session will cover key fundamentals every startup team should understand, beginning with how to approach founder equity splits. Establishing fair and strategic ownership early on can prevent misalignment and friction as the company scales. From there, the discussion will move into dilution—an inevitable part of fundraising—and how founders can plan for and manage it effectively.

Another critical topic is the use of SAFE notes, which have become increasingly common in early-stage financing. While they offer flexibility, they can also introduce complexity if not fully understood. This webinar will break down how SAFE notes work and how they impact future equity distribution.

Importantly, the session will also explore how cap table structure directly affects fundraising outcomes. Investors often scrutinize ownership distribution, and a poorly structured cap table can create hesitation or even derail a deal. In addition, speakers will highlight the importance of building a thoughtful stock option pool, an essential tool for attracting and retaining top talent in competitive markets.

This webinar is particularly relevant for founders, CEOs, and CFOs who are looking to strengthen their financial strategy, prepare for upcoming funding rounds, and build companies that scale responsibly.

The session will take place on April 14, 2026 at 11:00 AM ET and will feature insights from industry experts Vanessa Blanco (J.P. Morgan), Alan Gould (J.P. Morgan), Sara Dauber (J.P. Morgan), Jeremy Arak (Polsinelli), and Sougato Das (Life Science Nation).

Attendees should note that this webinar will not be recorded and will be available exclusively to live participants, making attendance especially valuable for those looking to gain actionable insights in real time.

Sign Up Webinar

RESI Europe 2026 IPC Finalists 

10 Mar

By Claire Jeong, Chief Conference Officer, Vice President of Investor Research, Asia BD, LSN

Life Science Nation (LSN) is pleased to announce the finalists for the Innovator’s Pitch Challenge (IPC) at RESI Europe 2026, taking place in Lisbon during the week of March 23. The event will bring together early-stage life science and healthcare innovators with a global community of investors seeking opportunities across drugs, devices, diagnostics, and digital health (4Ds).

This year’s IPC will feature over 20 presenting companies, with finalists pitching their technologies in dedicated sessions throughout the conference. These startups represent a diverse range of innovations aimed at solving critical healthcare challenges and advancing the next generation of life science breakthroughs.

The IPC gives founders the opportunity to pitch directly to active investors, including venture capital firms, family offices, corporate venture groups, and angel investors. Presenting companies receive valuable feedback from investor judges while gaining visibility among the investors and strategic partners attending RESI Europe.

Finalists will also have opportunities to connect with investors through RESI’s partnering system, as well as continue conversations during networking sessions and throughout the conference.

About the RESI Innovator’s Pitch Challenge

The IPC is a cornerstone of the RESI conference series. Each pitch session brings together a coordinated panel of investors who provide interactive feedback and questions designed to help founders refine their fundraising strategy and investment narrative.

Companies selected as IPC finalists receive RESI conference registration, the opportunity to present live to investors, and the chance to build relationships with members of the RESI investment community.

Join Us at RESI Europe 2026

RESI Europe 2026 will bring together founders, investors, and strategic partners for a full day of programming including investor panels, workshops from sponsors, networking opportunities, and the Innovator’s Pitch Challenge.

Attendees will have the opportunity to engage with the early-stage life science ecosystem through structured partnering meetings and educational sessions focused on fundraising and company development.

Register for RESI Europe

Meet the RESI Europe 2026 Innovator’s Pitch Challenge Finalists:

Applications Now Open for RESI San Diego

The Innovator’s Pitch Challenge at RESI San Diego offers life science startups the opportunity to present directly to a curated panel of active investors and receive real-time, constructive feedback. Each pitch includes a live Q&A with investor judges and extended exposure through participation in the IPC exhibition hall.

Apply to Pitch at RESI San Diego

 

RESI San Diego 2026: Investor Panel Lineup Announced 

10 Mar

By Momo Yamamoto, Senior Investor Research Analyst, LSN

Life Science Nation (LSN) has announced the investor panel lineup for RESI San Diego 2026, taking place June 22 at the JULEP Venue in San Diego during Convention Week, followed by four days of virtual partnering on June 23–24 and June 29–30. The hybrid format combines in-person networking with extended virtual partnering, giving founders and investors additional opportunities to continue conversations and schedule meetings beyond the live event.

Investor panels are a cornerstone of the RESI conference series, bringing together active investors and strategic partners to share perspectives on the evolving life science funding environment. These sessions offer founders and executives the opportunity to hear directly from investors about how they evaluate opportunities across drugs, devices, diagnostics, and digital health.

This year’s discussions will explore several key themes shaping early-stage investment. Topics will include how emerging companies can successfully engage pharmaceutical partners, what strategic investors and corporate venture capital groups are prioritizing in today’s market, and how medtech innovators can position themselves to attract both financial and strategic partners. Panels will also examine investment trends in diagnostics and oncology, the growing role of artificial intelligence in healthcare innovation, and the challenges many startups face when moving from seed capital to institutional venture funding.

RESI San Diego 2026 Investor Panels

Time  Panel Title 
9AM  Inside Pharma Partnering 
How Early-Stage Companies Can Engage Pharma 
10AM  Strategic Partnerships in Medtech 
What the Next Generation of Device Companies Must Deliver 
11AM  Strategic Capital: The Role of CVCs 
Investing Where Innovation Meets Industry
1PM  New Frontiers in Diagnostics 
Investing in Technologies Enabling Earlier Disease Detection 
2PM  Emerging Approaches in Cancer Therapies 
How New Modalities Are Standing Out in a Competitive Market 
3PM  AI at the Frontlines of Healthcare Innovation 
Building Scalable Companies at the Intersection of Data and Medicine 
4PM  Crossing the Venture Gap 
Moving from Seed Funding to Venture Rounds 
Register for RESI San Diego
Apply to Speak at RESI San Diego

In addition to investor panels, RESI San Diego will feature the Innovator’s Pitch Challenge, where selected startups present their technologies directly to investor judges in an interactive pitch format. The conference also offers extensive one-on-one partnering opportunities, allowing attendees to schedule meetings with investors, strategic partners, and industry leaders through the RESI partnering system.

Held during San Diego’s broader biotech Convention Week, RESI San Diego provides a focused environment for early-stage companies to connect with active healthcare investors and strategic partners. The event brings together venture capital firms, family offices, corporate venture groups, and industry leaders seeking opportunities across drugs, devices, diagnostics, and digital health.

Register today to secure your place at RESI San Diego 2026 and connect with investors shaping the future of healthcare innovation. Super Early Bird rates are available through April 17.

Apply to Pitch at RESI San Diego

RESI Europe 2026 Investor Panels Take the Stage in Lisbon 

3 Mar

By Claire Jeong, Chief Conference Officer, Vice President of Investor Research, Asia BD, LSN

Life Science Nation (LSN) is preparing for RESI Europe 2026, taking place March 23 in person at the EPIC SANA Lisboa Hotel, followed by four days of virtual partnering. 

The RESI Europe panel program will bring together active healthcare investors to discuss the sectors and strategies shaping early-stage capital formation across therapeutics, devices, diagnostics, digital health, and enabling technologies. As European companies increasingly look beyond domestic markets for capital, the conversations will reflect cross-border investment dynamics and milestone expectations in today’s disciplined funding environment. 

These panels are structured as constructive dialogue between investors and fundraising CEOs. Attendees will hear directly from venture, corporate, and strategic investors about how opportunities are evaluated, what readiness looks like at Seed and Series A, and how companies can engage the right partnering environments at the right time. 

Join the panelists at RESI Europe 2026 and engage directly with the investors shaping early-stage healthcare capital. 

Special Offer: Register for a RESI Europe 5-day hybrid ticket and receive a complimentary second attendee pass. This promotion applies to standard hybrid registrations and provides an opportunity to bring a colleague to maximize partnering coverage across all five days. 

Register for RESI Europe and secure meetings with active healthcare investors in Lisbon this March. 

Register for RESI Europe
RESI Europe Investor Panel Speakers
Raj-Airey
Raj Airey

Convergence Partners AG
Rosie-Barnett
Rosie Barnett

Delin Ventures
Amine-Benmoussa
Amine Benmoussa

Karista
Marcos-Casado
Marcos Casado

Invivo Partners
Bettina-Ernst
Bettina Ernst

BERNINA BioInvest
Navin-Govind-
Navin Govind

Evidence Ventures

William Hsu

Life Science Angels
Mohammad-Khobreh
Mohammad Khobreh

NG Bio
Carsten-Laue
Carsten Laue

M2Care
Chloe-Lepretre
Chloé Lepretre

Servier
Mukul-Mohanty
Mukul Mohanty

Truffle Capital
Luka-Nicin
Luka Nicin

Pace Ventures
Joseph-Oliver
Joseph Oliver

Stanford Angels of the UK
Soyoung-Park
Soyoung Park

1004 Venture Partners
Francisco-Pinto
Francisco Pinto

Bynd Venture Capital
Bibi-Sattar-Marques
Bibi Sattar Marques

Buenavista Equity Partners
Jeff-Stinson
Jeff Stinson

HTA
Mercedes-Tuin
Mercedes Tuin

Heran Partners
Carmel-van-den-Berk
Carmel van den Berk

Brightlands Venture Partners
Mariette-van-der-Velden
Mariette van der Velden

Curie Capital
Giulia-Vestri
Giulia Vestri

Claris Ventures
Yu-Zhang
Yu Zhang

FaaS Capital

Novotech at RESI JPM: Strategic Early Clinical Development for Biotech Sponsors 

3 Mar

As a sponsor of RESI JPMNovotech joined the RESI community during JPM Week to engage with emerging biotech companies at pivotal stages of development. Marina Mullins, VP of Early Clinical Development at Novotech, shared insight into the company’s biotech-focused model, global execution strategy, and evolving approach to early-phase clinical development. 

Marina Mullins
CaitiCaitlin Dolegowski

Caitlin Dolegowski (CD): Can you briefly describe Novotech’s mission and core capabilities as a global CRO and scientific advisory partner? 

Marina Mullins(MM) : Novotech is a global full-service clinical research organization and scientific advisory partner focused on accelerating the development of innovative therapeutics for biotech and small- to mid-sized pharmaceutical companies. The company provides integrated clinical trial services across Phase I–IV, with particular strength in early clinical development, regulatory strategy, medical oversight, biometrics, and operational execution. 

With offices across Asia-Pacific, North America, and Europe, and long-standing site partnerships globally, Novotech combines regional expertise with global coordination to support sponsors from preclinical planning through proof-of-concept and beyond. Its model integrates scientific advisory and operational delivery, enabling sponsors to move efficiently from strategy to execution. 

CD: What differentiates Novotech from other CROs in terms of clinical execution, expertise, or client support? 

MM: Novotech differentiates itself through a biotech-centric approach and deep regional execution expertise. Rather than operating as a transactional service provider, the company works as a strategic partner, aligning development strategy with operational planning from the outset. 

Key differentiators include strong early-phase capabilities, particularly in first-in-human and proof-of-concept studies; deep regulatory and operational experience across high-performance regions such as Australia, Asia, and North America; therapeutic expertise spanning oncology, infectious diseases, obesity, CNS, endocrine, rare diseases, and emerging modalities; and a partnership model designed to provide agility, senior oversight, and milestone-aligned execution. 

This integrated structure allows sponsors to make data-driven decisions while maintaining timeline discipline and regulatory alignment. 

CD: How does Novotech’s global footprint support biotech and pharma companies as they advance clinical development? 

MM: Novotech’s global presence enables sponsors to strategically select development regions based on speed, regulatory pathway, patient access, and capital efficiency. 

For example, Australia offers an established regulatory framework that allows certain first-in-human studies to proceed under the Clinical Trial Notification scheme without requiring an Investigational New Drug submission to the U.S. Food and Drug Administration. This can provide an efficient pathway to first patient while maintaining internationally recognized ethical and regulatory standards. 

At the same time, Novotech’s footprint across Asia, North America, and Europe supports seamless program expansion into multi-regional trials. Sponsors benefit from consistent governance, harmonized data standards, and coordinated regulatory strategy as programs advance. 

CD: As a sponsor of RESI during JPM Week, what were your key objectives for participating this year? 

MM: Novotech’s objectives were centered on early engagement and strategic dialogue. The company aimed to connect with emerging biotech companies preparing for first-in-human or proof-of-concept studies, provide guidance on early development strategy and regulatory pathways, explore long-term partnerships beyond single studies, and support investor-backed companies in aligning clinical milestones with financing objectives. 

RESI provided a focused environment to engage with innovative sponsors at critical inflection points in development. 

CD: Who is Novotech most interested in connecting with? 

MM: Novotech is particularly interested in engaging with early- to mid-stage biotech companies transitioning from preclinical to first-in-human studies, and companies seeking an integrated CRO partner that combines regulatory advisory, scientific strategy, and operational execution. The emphasis is on building strategic relationships with sponsors who value early alignment between scientific design, regulatory positioning, and clinical operations. 

CD: Are there particular trends in early clinical development shaping Novotech’s ECD strategy? 

MM: Regulators are placing greater emphasis on optimized dose selection and robust early-phase data packages, increasing the use of adaptive designs, expansion cohorts, and integrated pharmacokinetic and pharmacodynamic modeling in first-in-human studies. 

There is also growing strategic use of healthy volunteer studies, where scientifically appropriate, to better characterize safety, pharmacokinetics, and target engagement before patient expansion. This can reduce downstream risk and improve capital efficiency. 

Biotech sponsors are under pressure to generate milestone-defining data efficiently. As a result, early programs increasingly incorporate translational biomarkers, seamless SAD and MAD structures, and optional proof-of-concept expansion pathways within unified protocol frameworks. 

Together, these trends reinforce a shift toward positioning early clinical development as a strategic foundation for the entire program lifecycle. 

Interested in sponsoring an upcoming RESI conference? 

To explore sponsorship opportunities, please contact resi@lifesciencenation.com. Life Science Nation would welcome the opportunity to meet and discuss organizational goals for connecting with the global RESI investor and innovator community.