Atlas Venture has announced the closing of its fourteenth fund, securing $450 million to fuel investment in early-stage biotech innovation. This fund aims to support talented entrepreneurs in founding, seeding, incubating, and investing in new biotech startups dedicated to bringing novel medicines to patients. Fund XIV follows Atlas' 2022 fund and reflects a continued commitment to a focused venture creation strategy across various disease areas, modalities, and business models.
Atlas Venture's Strategy
Atlas Venture emphasizes a disciplined approach, focusing on building biotech companies based on discoveries and technologies worldwide. Since closing Fund XIII in 2022, several companies supported by Atlas have achieved significant milestones. These include the acquisitions of Nimbus' Tyk2 program, Versanis Bio, Aiolos Bio, and Mariana Oncology by major pharmaceutical partners, as well as the public offerings of Disc Medicine, Korro Bio, Q32 Bio, and Third Harmonic Bio. Additionally, Day One Biopharmaceuticals received FDA approval for Ojemda in pediatric low-grade glioma.
Nuvig Therapeutics Secures $161 Million for Autoimmune Therapies
Nuvig Therapeutics has completed a $161 million Series B financing round to support Phase 2 trials of its lead drug candidate, NVG-2089, for autoimmune diseases. NVG-2089 is a recombinant Fc fragment immunomodulator designed to bind type II Fc receptors, aiming to improve autoimmune dysregulation without broadly suppressing the immune system. The funding will facilitate proof-of-concept clinical studies in chronic inflammatory demyelinating polyneuropathy (CIDP) and other indications with high unmet needs, including certain skin conditions. NVG-2089 has already demonstrated safety, tolerability, and confirmation of its mechanism of action in a Phase 1 trial.
Maze Therapeutics Raises $115 Million to Advance Kidney Disease Programs
Maze Therapeutics has raised $115 million in a Series D financing round to advance two of its drug candidates through clinical development. The company is focusing on MZE829, an oral APOL1 inhibitor, and MZE782, an oral SCL6A19 inhibitor. MZE829 is slated to begin a Phase 2 trial in APOL1 kidney disease (AKD) in the first quarter of 2025, while MZE782 is currently in a Phase 1 study for chronic kidney disease (CKD) and phenylketonuria (PKU).
Antag Therapeutics Obtains €80 Million for Next-Generation Obesity Therapy
Antag Therapeutics has secured €80 million ($84 million) in Series A funding to develop AT-7687, a glucose-dependent insulinotropic polypeptide receptor (GIPR) antagonist, positioned as a next-generation weight-loss therapy. AT-7687 is designed to be used in conjunction with existing incretin therapies like semaglutide and tirzepatide, or as a monotherapy for weight maintenance. Clinical trials are scheduled to commence next year. The therapy aims to address tolerability issues and muscle mass loss associated with current treatments, while enhancing weight loss efficacy by targeting GIPR, which influences body fat and BMI.
