Transition Bio has announced a $50million Series A financing which will accelerate the ability of the company’s novel Condensomics platform to map and modulate biomolecular condensates using biophysical sciences and artificial intelligence tools.
The Maxwell Centre
The round was led by Northpond Ventures with participation from Taiho Ventures, Bristol Myers Squibb, Lifeforce Capital and Magnetic Ventures.
Transition Bio is headquartered in Cambridge, Massachusetts and has its UK base at the Maxwell Centre on JJ Thompson Avenue. Founded in 2020 with a seed round led by Lifeforce Capital, the company has adopted a proprietary microfluidics-driven machine learning approach to biomolecular condensate drug discovery.
Biological condensates are membrane-less organelles that organise material inside biological cells. They are implicated in a wide range of cellular functions, organising molecules that act in processes ranging from RNA metabolism to signalling to gene regulation. The founders and world-class team has integrated the latest advances in the fields of physics, chemistry, biology and machine learning to harness the potential of biomolecular condensates to solve some of today’s most fundamental challenges in health and disease.
The funding will allow rapid expansion of the technology by scaling up the platform and translating the science across a wider variety of targets and disease areas.
Greg Miller, CEO at Transition Bio
“We are excited to have such a high-quality group of investors alongside us as we apply and expand our one-of-a-kind predictive approach to analysing and modulating biomolecular condensates,” said Greg Miller, Transition Bio’s CEO. “The technology and tools we have built – and the data we are generating – are unmatched in capability and scale, and the pace and depth of our progress across all areas of the company has been extraordinary.
“Our team is uniquely suited to harness the fundamental and largely untapped biology of condensates which is at the centre of many disease pathways.”
In addition, Shilpi Arora has joined Transition Bio as senior VP of discovery research, while Shaan C Gandhi and Alfred W Sandrock have joined the board.
“The Northpond team has been engaging with condensate biology for a long time,” said Dr Gandhi. “The encouraging data and calibre of people involved drive our collaboration with Transition Bio. The experience and creativity of the founders, management team and scientists, as well as the progress with the platform, convince us that Transition Bio will develop therapeutic approaches that will address significant unmet medical needs.”
Co-founders Kelly Martin and Samuel Cohen, will continue to serve on the board as executive chairman and director, respectively.
“On behalf of the founders, we are delighted and amazed by how far the team has come in such a short period of time,” said Mr Martin. “This financing is a testament both to the underlying scientific foundation, created through the tremendous work and innovation of Dave Weitz and Tuomas Knowles over the past decade, as well as to the talented team of dedicated and enthusiastic professionals working with us in the US, UK and beyond.
“In addition, we welcome Al and Shaan to the board and look forward to benefiting from their unique skills and experiences.”
Business News Mike Scialom