Proteome-Focused ProFound Emerges From Flagship Pioneering
The company says its platform technology has uncovered “tens of thousands” of previously undiscovered proteins.
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Private Company Edition: Biomedtracker found that 53% of financings during the first quarter were venture capital deals versus 32% in Q1 of last year. Also, Qiming closed a $260m fund, Transition Bio raised a $50m series A round, ProfoundBio completed a $70m series A+ and MycoMedica raised $60m.
By hijacking a process that cells use to keep themselves shipshape, targeted protein degradation has become a hot new area of drug development. Scrip takes an in-depth look at the field ahead of a wave of data expected this year from early candidates that will give some insight into whether this strategy will truly open a new way to combat disease.
Many industry leaders expect broad progress in the field of RNA technologies following the rapid and successful roll-out of mRNA vaccines against COVID-19 last year. Genetic medicines of various types, emerging platforms for tackling previously “undruggable” targets and the microbiome were among other areas singled out as areas to watch in 2022.