I2020 ACCELERATOR ANNOUNCES THE LAUNCH OF GWYNANT THERAPEUTICS AND CELYN THERAPEUTICS TO DEVELOP NOVEL SMALL MOLECULES FOR ONCOLOGY TARGETS
i2020, an accelerator program backed by the San Diego-based venture company Torrey Pines Investment, has announced two new start-up investments together with OrbiMed Advisors. The start-up proceeds will finance new oncology-focused companies: Gwynant Therapeutics and Celyn Therapeutics. The companies will use the proceeds to bring proprietary small molecule products to the clinic targeting cancer. With this new financing, the partners continue to build a robust innovative asset pipeline focused on breakthrough drug targets. The new investment from i2020 and OrbiMed brings the total funding for 9 companies in the Loch platform to over $68.5 million. The Loch platform aims to rationally design and develop novel targeted treatments for cancer, immunological and neurodegenerative diseases.
In connection with the financing, Carl Gordon and Iain Dukes from OrbiMed, Nikolay Savchuk from Torrey Pines Investment and Augustine Lawlor from Health Care Ventures have joined the Boards of Gwynant and Celyn Therapeutics.
The Loch platform and its programs are supported by the AI and computer aided drug design of Molsoft LLC and ChemDiv Inc., San Diego, CA, as well as other research partners from i2020 Accelerator's global network.
About OrbiMed
OrbiMed has been investing globally for over 20 years across the healthcare industry: from early-stage private companies to large multinational corporations. Our team of over 100 distinguished scientific, medical, investment and other professionals manages over $19 billion across public and private company investments worldwide. From biopharmaceuticals to medical devices, diagnostics, and healthcare services, OrbiMed is scouting the globe for innovations that will help ensure humanity lives healthier, longer and more productive lives.
About i2020 Accelerator
i2020 Accelerator strives to accelerate early-stage drug discovery platforms towards advanced lead and clinical candidates within a two-year framework to rapidly de-risk novel science and enrich partner pipelines with first or best-in-class molecules. i2020's scientific and global resources network tailored specifically to the needs of early programs allows to accelerate development in multiple high value therapeutic areas, from immunology to inflammation and from oncology and CNS to infectious diseases and beyond. The i2020 accelerator program inaugurated by Torrey Pines Investment in 2017 is now co-creating, growing and graduating breakthrough drug discovery programs towards future medicines.