Fledgling biotech Ternarx Pty Ltd. has emerged from stealth mode and is the first of its kind in Australia to develop targeted protein degrader technology to destroy disease-causing proteins that cannot be targeted by conventional drugs. The Melbourne-based company will initially develop targeted protein degraders against currently undrugged transcription factors in cancers with significant unmet need, starting with neuroblastoma and prostate cancer.

Marea Therapeutics came out of stealth mode on June 18, after raising a combined $190 million through its series A and B financings. The series A round was led by Third Rock Ventures, and the series B round was led by Sofinnova Investments and co-led by Forbion, Perceptive Xontogeny Venture Fund and Venbio.

Santa Ana Bio Inc. launched with combined series A and B rounds that pulled down $168 million for its precision immunology push in inflammatory diseases, with an aim of entering the clinic next year across several fronts.

Fresh from the sale of one antibody-drug conjugate (ADC) company, Jack Elands has formed another, raising €30 million (US$32.2 million) in seed funding for Adcytherix SAS. The newco brings together the same cast as Elands’ former company, Emergence Therapeutics, which was sold to Eli Lilly and Co. for an undisclosed sum in a deal that closed in August 2023.

Focused on oral therapies for obesity, diabetes and rare diseases, Boston-based Syntis Bio Inc., which raised $15.5 million through seed funding last year, emerged from stealth to advance its synthetic tissue-lining technology and a pipeline of candidates.

Obesity specialist Sixpeaks Bio AG emerged from stealth with $110 million in funding and an option to be acquired by Astrazeneca plc within the next two years, subject to filing an IND for the lead product.

Treatment with indoleamine dioxygenase-1 (IDO1) inhibitors reduced both viremia and B cell transformation in animal models of post-transplant lymphoproliferative disorder (PTLD), while IDO1 up-regulation occurred in patients who would go on to develop PTLD. The findings, which were reported in the May 24, 2024, issue of Science by researchers from the University of Basel and the University Hospital Basel, point to new ways to predict, prevent and treat complications of Epstein-Barr virus (EBV) infection.

Newco Commit Biologics ApS has arrived on the scene after raising €16 million (US$17.2 million) in a seed round to advance bispecific antibodies that are designed to activate the complement system and direct it to selectively kill cancer cells.

Three years ago when Keting Chu pondered the name for a new biopharma company that would fold in infectious disease assets from Novartis AG, she looked out over her West Coast backyard. “I was looking for a name that made you think of California,” she told BioWorld. She nixed the idea of incorporating redwood trees into the name, but then she saw the blue jays flying around those trees and thought, “that’s a beautiful bird.” Hence, Chu founded and became CEO of Bluejay Therapeutics Inc., first raising $20 million through a series A in June 2021 and a $41 million series B in August 2022. On May 9, the San Mateo, Calif.-based company closed a $182 million series C round, with plans to accelerate development of lead compound BJT-778 to treat chronic hepatitis D virus, a condition for which there are no approved therapeutics in the U.S.

Prologue Medicines Inc. has launched to develop therapeutics created from the viral proteome, which are proteins produced across all viruses. It’s a newer twist on harnessing the power of the proteins that regulate biology.