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HEALTHCARE | Biotechnology

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Founded Year

2018

Stage

Series A | Alive

Total Raised

$21M

Last Raised

$20M | 5 mos ago

About Acrivon Therapeutics

Acrivon Therapeutics is a biotech company specializing in drug development through early clinical treatment success using our unique predictive biomarker approach.

Acrivon Therapeutics Headquarter Location

700 N. Main Street

Cambridge, Massachusetts, 02139,

United States

Latest Acrivon Therapeutics News

Can a small band of biopharma players succeed where Eli Lilly failed? They’re taking a shot

Jun 29, 2021

John Carroll Editor & Founder Eli Lil­ly didn’t try to spin any­thing about the mid-stage da­ta they got on their CHK1/CHK2 drug prex­as­ert­ib for ovar­i­an can­cer pa­tients. The drug failed to move the di­al in a sig­nif­i­cant fash­ion and they un­cer­e­mo­ni­ous­ly swept it right out of the pipeline a lit­tle more than 2 years ago. Usu­al­ly, that would have been it, an­oth­er once-promis­ing drug that didn’t make the cut. We see it reg­u­lar­ly. But a small group of biotech play­ers has come to­geth­er to take an­oth­er crack at a piv­otal play on this drug. And they be­lieve they have the key to mak­ing a suc­cess of it. Jes­per Olsen They’re launch­ing their new biotech — Acrivon Ther­a­peu­tics, with ops in the Boston area and Lund, Swe­den — af­ter forg­ing an in-li­cens­ing deal for prex­as­ert­ib, swap­ping eq­ui­ty for Lil­ly’s rights to the drug. And they are show­cas­ing a new com­pan­ion di­ag­nos­tics plat­form tech­nol­o­gy with a big goal: us­ing pro­teomics to tri­an­gu­late a va­ri­ety of drug mech­a­nisms to the ac­tive dis­ease-dri­ving process­es of can­cer in pa­tients. “We be­lieve it’s the next wave of pre­ci­sion med­i­cine. We have worked on ge­net­ics and us­ing ge­net­ics-based med­i­cines for 20 years and they work great when they do work,” CEO Pe­ter Blume-Jensen tells me. “But they are lim­it­ed. Ge­net­ic al­ter­ations most of­ten do not tell you ex­act­ly what’s go­ing on with the tar­get … We are try­ing to more di­rect­ly to mea­sure what are the dis­ease-dri­ving mech­a­nisms in the tu­mor.” Blume-Jensen says they’ve iden­ti­fied 3 bio­mark­ers — he’s not of­fer­ing de­tails yet — that al­low them to iden­ti­fy the pa­tients most like­ly to re­spond to the treat­ment, bank­ing on the monother­a­py re­spons­es that Lil­ly has tracked to point them to a nar­row mar­ket niche where the drug can more re­li­ably work. And they be­lieve they have found 2 oth­er tu­mor types that can al­so work — which rounds out the bas­ket study that is now be­ing set up as they pur­sue the FDA’s ac­cel­er­at­ed ap­proval path­way. Kristi­na Mas­son It’s not a big play, at least not yet. Blume-Jensen says they’ve raised a lit­tle more than $20 mil­lion for the com­pa­ny, with more talks un­der­way with a syn­di­cate that in­cludes Chione, NEA, and Alexan­dria Ven­ture In­vest­ments. He and his in­vestors filed a Form D ear­li­er this year out­lin­ing a $15.5 mil­lion raise. The com­pa­ny co-founder is Kristi­na Mas­son, who leads and runs the sub­sidiary out of Medicon Vil­lage, in Lund, Swe­den. Jes­per Olsen, a pro­fes­sor at the No­vo-Nordisk Foun­da­tion Pro­tein In­sti­tute in Copen­hagen and an ex­pert in phos­pho­pro­teomics, is the aca­d­e­m­ic co-founder. The rough­ly 20-mem­ber team is led by Blume-Jensen, who’s worked in a va­ri­ety of roles in bio­phar­ma R&D, along with CMO Er­ick Gamelin and oth­ers. They’re al­so not plan­ning on be­ing a one-hit biotech. Acrivon has al­so been build­ing a “pro­pri­etary pipeline of struc­ture-based drug pro­grams tar­get­ing crit­i­cal nodes in the DDR and cell cy­cle reg­u­la­tion.” AUTHOR Kyle Blankenship Managing Editor With Moderna and Pfizer/BioNTech paving the road for mRNA therapeutics, a gold rush is underway across biopharma to take that promising baton and run with it into new disease areas. Now, Sanofi is engineering an ambitious — and expensive —plan to retool its R&D approach around mRNA vaccines, and it’s leaning on a major research pact to help get it there. Sanofi will invest up to $477 million per year to build out its “end-to-end” internal capabilities in mRNA, the cell therapy technology underpinning Moderna and Pfizer/BioNtech’s Covid-19 vaccines with red-hot potential in other diseases, the French drugmaker said Tuesday. Keep reading Endpoints with a free subscription Unlock this story instantly and join 110,300+ biopharma pros reading Endpoints daily — and it's free. SIGN UP Jason Mast Editor In a landmark study, researchers successfully used CRISPR to directly edit DNA in humans, a milestone that could pave the way for treatments for scores of serious genetic and non-genetic diseases. Intellia, a biotech co-founded by 2020 Nobel laureate Jennifer Doudna, used CRISPR/Cas9 to cut a gene out of the liver cells of patients with ATTR amyloidosis, a deadly disease where a misshapen protein called TTR builds up and damages organs throughout the body. Patients who received a high dose of the therapy saw their protein levels fall between 80% and 96%, indicating the therapy permanently cut the genome where desired. Read More June 29, 2021 09:28 AM EDTUpdated 10:04 AM Nicole DeFeudis Editor It took more than a decade and billions of dollars for scientists to sequence the first human genome back in 2003. While DNA sequencing costs much less today, a slew of companies is working on next-gen approaches to save researchers time and money. Element Biosciences is one of them, and on Tuesday, the company unveiled a $276 million round. The Series C brings Element’s total raise to about $400 million. While the company declined an interview with Endpoints News, it appears as though CEO Molly He could have the company’s S-1 papers in her back pocket. Read More Zachary Brennan Senior Editor New FDA review documents from the Aduhelm decision released Monday make clear why the agency’s own statisticians dissented on the controversial accelerated approval. At the center of the accelerated approval, according to the nearly 400-page clinical review , is two large, international pivotal trials (Studies 301 and 302) that were nearing completion but were terminated prior to their planned conclusion. Modeling and simulation allowed the FDA and Biogen to complete those two trials, which established that their results were interpretable and suitable for additional consideration. Whereas the positive Study 302 “provides the primary evidence of effectiveness” for the approval, Study 301 failed. Keep reading Endpoints with a free subscription Unlock this story instantly and join 110,300+ biopharma pros reading Endpoints daily — and it's free. SIGN UP Nicole DeFeudis Editor Despite repeated calls to diversify the biotech industry, women and those in minority groups make up just 14% of board members at public micro- and small-cap companies, according to a new report by the Bedford Group and Transearch. “Just the total percentage of CEOs [who] are female was much lower than anticipated,” said Darren Raycroft, partner and managing director at the Bedford Group. For over a decade, the firm has compiled executive compensation reports in other verticals. But for the first time, they’re releasing a report based on 225 public biotech companies in the US with market caps under $2 billion — and what they found was a stark lack of diversity among the highest ranks of the industry. Keep reading Endpoints with a free subscription Unlock this story instantly and join 110,300+ biopharma pros reading Endpoints daily — and it's free. SIGN UP Senior Editor In an continued effort to monitor the effectiveness of its Covid-19 vaccine, Moderna has rolled out the latest slate of neutralization data against different variants — including the Delta variant first identified in India. The data were published on the preprint server bioRxiv as the Delta variant has engulfed a number of countries, leading to resurgence of infections. Deploying a well-documented method, investigators took blood samples from eight participants of Moderna’s Phase I trial one week after their second dose of mRNA-1273, and pitted them against pseudovirus engineered to bear features of variants of concerns (VOCs), including the “the Beta variant (B.1.351, first identified in South Africa), three lineage variants of B.1.617 (first identified in India), including the Kappa (B.1.617.1) and the Delta variants (B.1.617.2); the Eta variant (B.1.525, first identified in Nigeria); and the A.23.1 and A.VOI.V2 variants first identified in Uganda and Angola, respectively.” Read More

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Acrivon Therapeutics is included in 2 Expert Collections, including Pharma Startups.

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