By Joey Wong, Director of Investor Research, Hong Kong BD, LSN
Many large corporations establish ventures or innovation arms to invest in and partner with life science and healthcare startups. Unlike traditional institutional VCs, corporate venture capital (CVC) groups bring unique strategies, goals, and ties to their parent organizations. Some CVCs focus closely on opportunities that align with the corporation’s core businesses, while others pursue innovation beyond existing portfolios, creating broader avenues for collaboration.
This 50-minute discussion will bring together leaders from corporate venture arms of global pharma, biotech, medtech, and healthcare corporations. Panelists will share how they evaluate early-stage opportunities, what distinguishes their investment criteria from institutional VCs, and how they balance strategic alignment with financial return. Startups will also gain valuable perspective on how to approach CVCs, what additional benefits they can expect beyond funding, and how relationships and collaboration may evolve post-investment.
For entrepreneurs seeking strategic partners, this session offers a chance to hear directly from active CVC investors about how they drive innovation, accelerate R&D, and bring transformative solutions to the market.
Andrew Merken Shareholder Polsinelli PC
(Moderator)
Komeil Nasrollahi Sr. Director Innovation & Venture Partnerships Siemens Healthineers
Claire Leurent Managing Director AbbVie Ventures
Jeffrey Moore President MP Healthcare Venture Management (MPH)
Alex de Winter VP of New Ventures Danaher Corporation
Join us at RESI Boston this September to take part in this discussion and connect with investors across the life science and healthcare ecosystem.
While most parts of biotech early-stage financing have been in the doldrums in the past two or three years, so-called tech-bio startups have been thriving. Since the posterchild $1.0 billion mega series A round last April of Xaira Therapeutics, which was founded by scientists out of Nobel prize winner David Baker’s group at the University of Washington, several startups seeking to develop machine learning models for designing miniproteins or peptide binders of challenging or ‘undruggable’ targets have emerged, including Enlaza Therapeutics, Vilya, and UbiquiTx. All of these have been developing their own proprietary models based on Alphafold 3, Boltz-1 or Chai-1 for structure prediction and tools based off RFdiffusion, Bindcraft and ProteinMPNN for peptide design. Predicting CDR loops for de novo antibody design is a considerably more challenging task than for simple peptides, but Nabla Bio, founded last year by scientists out of George Church’s lab at Harvard, claims it is doing just that for GPCRs and ion channels. Earlier this month, Chai Discovery also launched with a $100 million series A from Menlo Ventures to optimize multimodal generative models such as Chai-2, which, according to the company, already “achieves a 16% hit rate in de novo antibody design.”
Designing peptides that can selectively bind to a protein target and show therapeutic activity remains a challenge, however, as it often depends on the availability of high-quality structural information about the target molecule, which is seldom available for many disease-relevant proteins that are unstructured or conformationally disordered. Similarly modeling protein-protein interactions like antibody-antigen interactions that are extremely dynamic and floppy also poses problems. All of which raises the question as to whether binders could be predicted simply using amino acid sequence information instead of structural data.
Now, a team led by Pranam Chatterjee from Duke University has addressed this question. In a recent paper in Nature Biotechnology, Chatterjee and his collaborators report the creation of PepMLM, a peptide binder design algorithm based on masked language modeling. A key feature of the algorithm is that it depends exclusively on protein sequence, not structure. Built upon the ESM-2 (Evolutionary Scale Modeling 2) protein language model, PepMLM masks and reconstructs entire peptide regions appended to target protein sequences. This design compels the model to generate context-specific binders. To train PepMLM, the team used high-quality curated datasets from PepNN and Propedia comprising ~10k putative peptide-protein sequence pairs. PepMLM output was consistently found to outperform RFDiffusion on held-out/structured targets, with a higher hit rate (38% to 29%) and low perplexities that closely matched real binders, with generated sequences showing target specificity, even in stringent permutation tests.
The PepMLM model is trained by labeling with ~10k putative target protein-peptide sequence pairs and is built with a target protein sequence and a masked binder region. During the generation phase, the model has a target protein sequence and then mask the binder to facilitate the prediction of peptides of specified lengths. (Source: Nature Biotechnology)
The model generated binders predicted to have higher binding scores than native and structure-based binders designed through other methods. Indeed, in vitro validation experiments confirmed the high affinity and specificity of PepMLM-generated binders.
Structural comparison of PepMLM-designed binders (red) and experimental test binders (blue), with contact residues in target proteins H-2Kb MHC complex (2OI9)and Lck tyrosine kinase (1LCK) (gray) shown in corresponding colors. (Source: Nature Biotechnology).
Chatterjee and his colleagues went on to turn their binders into degraders by fusing them to E3 ubiquitin ligase domains, such as CHIP/STUB1. When tested in vitro, over 60% of these degraders knocked down their target proteins. PepMLM peptides achieved nanomolar binding affinity on the drug targets neural cell adhesion molecule 1 (NCAM1), a key marker of acute myeloid leukemia, and anti-Müllerian hormone type 2 receptor (AMHR2), a critical regulator of polycystic ovarian syndrome (where RFDiffusion-predicted peptides failed to bind). The authors also demonstrated that PepMLM-predicted peptides fused to E3 ubiquitin ligases not only degraded MSH3 but completely eliminated mutant huntingtin protein exon 1 containing 43 CAG repeats in Huntington disease patient-derived fibroblast cells. Similar results were obtained for a PepMLM-predicted peptide binder of MESH1, a protein controlling ferroptosis, in collaboration with Ashley Chi Jen-Tsan’s group at Duke University (RFDiffusion again gave no hits). And with Madelaine Dumas and Hector Aguilar-Carreno’s group, in collaboration with Matt Delisa’s group at Cornell University, PepMLM-derived peptides bound and reduced levels of viral phosphoproteins from Nipah, Hendra, and human metapneumovirus (HMPV); indeed, in live HMPV infection models, the PepMLM peptide mediated high levels of P protein clearance.
The ability of PepMLM to design binders purely on the basis of target-protein sequence is an important advance towards designing therapeutic peptides against hitherto inaccessible targets that lack structural data. Future work should explore how to incorporate chemical modifications such as cyclization or stapling to enhance stability of the binders, as well as the evaluation of the strongest candidates in vivo. Another challenge will be to ameliorate the immunogenicity of these foreign de novo proteins. The use of protein engineering approaches, such as incorporation of mirror amino acids that can cloak foreign peptides from the immune system, may offer solutions. But it is likely that candidates discovered using sequence or structure prediction tools will still require lengthy development programs to be turned into safe and effective drugs, despite the hype.
A global manufacturing company operates across a wide range of industries, including analytical, medical, and industrial equipment. In recent years, the firm has placed a strong focus on healthcare, particularly in clinical diagnostics and biomanufacturing.
A few years ago, the firm established a corporate venture capital (CVC) division to seek strategic partnerships with companies that possess cutting-edge technologies aligned with its business areas.
The firm has invested in companies across the U.S., Canada, and Asia and is actively looking to expand its portfolio. While the CVC primarily targets investments in Seed to Series A rounds, it may also consider Series B opportunities. Typical check sizes range from $1 million to $5 million USD, though larger investments are possible for particularly promising technologies.
Within healthcare, the firm is seeking opportunities in clinical diagnostics, medical devices, and biomanufacturing. The firm is open to not only hardware but also consumables and software solutions.
To attract investment from the CVC, having a lead investor is desirable.
If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com.
A venture capital firm based in the US is actively investing in life science companies. The firm primarily invests in therapeutics companies in early and growth stage. Typical check sizes are in the $25-30M range over the company’s life cycle. The firm has a preference for companies based in Los Angeles and is passionate about fostering the local life science ecosystem, but the firm is also open to investing outside of LA given that the opportunity is a great fit. Outside of LA, the firm invests almost exclusively in the US.
The firm invests in therapeutics in all disease areas and modalities, and is open to both single assets and platform technologies. The firm currently has over 20 companies in their portfolio, which can be reviewed here: https://westlakebio.com/portfolio for a better sense of where the firm has invested to date.
The firm is open to pre-clinical to early clinical stage opportunities. The firm is open to investing in promising companies even in the idea/conception stage, and has done so in the past.
The firm looks for compelling technologies and is open to investing in companies founded by first-time entrepreneurs. The firm prefers to be a lead investor, and has always led Series A investments and seeks board representation when leading.
If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com.
A growth and venture investor based in the U.S. typically engages in pre-clinical and Seed stage life science startups. The firm invests in companies focused on significant unmet medical needs across contract services, manufacturing, equipment, and therapeutic companies. The firm supports entrepreneurs and early-stage companies by providing deep expertise, industry knowledge, and a network of proven experts to guide them through every stage of their life cycle.
The firm is interested in pre-clinical therapeutics, digital health, medical devices, and diagnostic companies. The firm also invests in contract services, enabling technologies, and therapeutics across cell and gene therapies, oncology, antimicrobial resistance, neurosciences, and rare diseases. While indication-agnostic, the firm has particular expertise in oncology, neurosciences, rare disease, and antimicrobial resistance.
The firm does not have strict company or management team requirements. The firm may take a board seat on a case-by-case basis.
If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com.
A global, early-stage medtech venture capital firm with offices in North America and Asia has a particular focus on investing in underfunded regions globally. The firm invests in Seed and Series A rounds, with a typical check size of $250K – $1M in the form of equity. The firm will typically co-invest, and invests in 6-8 companies per year. The firm will invest globally.
The firm invests in early-stage medtech companies developing life science technologies for large, unmet market needs. The firm focuses on medical devices and digital health.
The firm prefers to work with experienced founders.
If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com.
By Claire Davies, Shareholder, Polsinelli (Special Guest Contributor)
Life sciences companies are constantly innovating with the goal of developing groundbreaking medical products. Unfortunately, the most novel products often face more uncertainty about their regulatory pathway to market—with several factors heightening that uncertainty today. These include the loss of many FDA policy and scientific staff over the past six months and multiple changes in leadership, such as at the head of the agency’s drug and biologics programs. Although significant personnel change may present opportunities for companies that would benefit from a change in the agency’s historic regulatory approach, it also unsettles precedent for the FDA’s expectations. In addition, as numerous companies explore applications of generative AI, the agency itself has indicated that generative AI-enabled products present challenges to existing (often decades old) laws that govern FDA’s regulatory framework.
With these factors in play, companies may be tempted to hold off on spending resources to map out their regulatory strategy and get feedback from the agency. But incorporating regulatory considerations into early business plans remains key for a number of reasons:
Efficient Product Development: Whether and how FDA will regulate your product determines the level of evidence and type of application needed to enter the market. (Does your AI-enabled product fall within an exception from regulation as a medical device? If not, it may require an FDA application supported by significant data.) An early understanding of the regulatory pathway can help companies budget development costs more accurately. It can also help them anticipate and proactively address regulatory hurdles, ultimately shortening the time it takes to get the product to market.
Raising capital: Regardless of scientific promise, companies that underestimate the regulatory complexity of getting a medical product to market or that lack an experienced in-house or external advisory team in this area may be viewed as a risky proposition for investors. In contrast, a thorough understanding of the regulatory pathway and plan for navigating the challenges to commercialization can help distinguish a company from the crowd.
Ultimately, an early and proactive approach to your regulatory strategy is a critical investment that can help shorten time to market and increase your company’s attractiveness to investors.
Claire Davies is a Shareholder in Polsinelli’s FDA practice where she provides strategic counsel to help clients navigate FDA regulatory and compliance challenges. Claire has handled a wide range of issues involving medical devices, biological products, drugs and human cells, tissues and cellular and tissue-based products (HCT/Ps). Prior to joining Polsinelli, Claire spent nearly a decade as an attorney in the FDA’s Office of the Chief Counsel. Her work at FDA often involved advising agency leadership on high-profile and significant matters, such as responses to emerging public health threats and user fee negotiations with industry.
About Polsinelli
Polsinelli is an Am Law 100 firm with more than 1,200 attorneys in over 25 offices nationwide. Recognized as one of the top firms for excellent client service and client relationships, Polsinelli is committed to meeting our clients’ expectations of what a law firm should be. Our attorneys provide value through practical legal counsel infused with business insight, offering comprehensive corporate, transactional, litigation and regulatory services with a focus on health care, real estate, finance, technology, private equity and life sciences. Polsinelli PC, Polsinelli LLP in California, Polsinelli PC (Inc) in Florida.
The firm is focused on therapeutics companies and does not invest in medical devices, diagnostics, or digital health. The firm is open to considering assets of very early stages, even those as early as lead optimization phase. The firm considers various modalities, including antibodies, small molecules, and cell therapy. Currently, the firm is not interested in gene therapy. Indication-wise, the firm is most interested in oncology and autoimmune diseases but has recently looked at fibrotic diseases and certain rare diseases as well.
The firm is opportunistic across all subsectors of healthcare. Within MedTech, the firm is most interested in medical devices, artificial intelligence, robotics, and mobile health. The firm is seeking post-prototype innovations that are FDA cleared or are close to receiving clearance. Within therapeutics, the firm is interested in therapeutics for large disease markets such as oncology, neurology, and metabolic diseases. The firm is open to all modalities with a special interest in immunotherapy and cell therapy.
A strategic investment firm of a large global pharmaceutical makes investments ranging from $5 million to $30 million, acting either as a sole investor or within a syndicate. The firm is open to considering therapeutic opportunities globally, but only if the company is pursuing a market opportunity in the USA and is in dialogue with the US FDA.
The firm is currently looking for new investment opportunities in enterprise software, medical devices, and the healthcare IT space. The firm will invest in 510k devices and healthcare IT companies, and it is very opportunistic in terms of indications. In the past, the firm was active in medical device companies developing dental devices, endovascular innovation devices, and women’s health devices.
A venture capital firm founded in 2005 has multiple offices throughout Asia, New York, and San Diego. The firm has closed its fifth fund in 2017 and is currently raising a sixth fund, which the firm is targeting to be the largest fund to date. The firm continues to actively seek investment opportunities across a […]