ENCINITAS, Calif., March 9, 2021 /PRNewswire/ -- Ventyx Biosciences, Inc. ("Ventyx"), a clinical-stage biotechnology company advancing a pipeline of immune modulators to treat inflammatory diseases and autoimmune disorders, today announced the completion of a $114 million equity financing led by venBio Partners alongside new investors, including Third Point, RTW Investments, LP, Janus Henderson Investors, Wellington Management, OrbiMed, Surveyor Capital (a Citadel company), Farallon Capital, Vivo Capital, Logos Capital, Qiming Venture Partners USA, Cormorant Asset Management, and participation from founding investor New Science Ventures. In connection with the financing, Richard Gaster and Aaron Royston of venBio Partners and Jigar Choksey of Third Point will be joining the Ventyx Board of Directors.
"We are extremely proud to have the support of such prominent investors who share our enthusiasm, dedication and vision to build a world-class immunology company," said Raju Mohan, Chief Executive Officer of Ventyx. "The additional capital will allow us to accelerate our clinical development programs while simultaneously expanding our portfolio of small molecule therapeutics with best-in-class potential for patients with inflammatory and autoimmune diseases. We have brought together a syndicate of experienced investors that can support the long-term growth and development of our deep pipeline of immune modulators."
Ventyx's internally discovered and wholly-owned portfolio of potent and selective small molecule drug candidates target multiple indications in the immunology space, including gastrointestinal and dermatological diseases. The company's pipeline combines the clinical stage programs of three companies founded by Raju Mohan and New Science Ventures:
- A tissue selective S1P1R modulator for inflammatory bowel disease (IBD) and other indications that was developed by Oppilan Pharma;
- A selective allosteric TYK2 inhibitor, developed by Ventyx, that is projected to demonstrate high efficacy and therapeutic utility across a broad range of immunological disorders; and
- the NLRP3 inhibitor program, created by Zomagen. The first candidate of this program will enter the clinic in the second half of this year.
In addition, the company is leveraging its world-class drug discovery platform to advance preclinical programs against other biologically relevant targets involved in difficult to treat inflammatory diseases and autoimmune disorders.
"The Ventyx team has done an extraordinary job of rapidly and efficiently advancing high-quality drug candidates into the clinic against compelling biological targets," said Richard Gaster of venBio. "We have been closely tracking the I&I space and are excited to bring these assets together into one outstanding company and lead the current financing round. We are eager to support Ventyx's efforts to bring meaningful new treatments to patients."
"We are pleased to bring in such a distinguished group of healthcare investors to support the development of the company's innovative immunology programs, and we welcome Rich, Aaron and Jigar to the Board," added Somu Subramaniam of New Science Ventures.
About Ventyx Biosciences, Inc.
Ventyx Biosciences, Inc. is a clinical-stage biotechnology company advancing a broad pipeline of potent and selective small-molecule drug candidates to treat inflammatory diseases and autoimmune disorders. Ventyx Biosciences combines assets from three formerly independent, asset-centric companies: Oppilan Pharma, targeting S1P1R, Zomagen Biosciences, targeting the NLRP3 inflammasome, and the original Ventyx Biosciences, targeting TYK2. The diversified portfolio in the newly formed joint entity includes best-in-class, highly differentiated clinical-stage programs and preclinical programs focused on high-value targets.
Ventyx is headquartered in Encinitas, California. For more information about Ventyx, please visit www.ventyxbio.com.
About venBio Partners
venBio Partners is a life sciences investment firm that partners with industry leaders to build and invest in innovative medicines and technologies, with a focus on novel therapeutics for unmet medical needs. See www.venbio.com.
About New Science Ventures
New Science Ventures, LLC (NSV) is a New York-based venture capital firm that invests in companies using breakthrough science to create and build great companies in the life sciences and information technology sectors. NSV was founded in 2004 by Somu Subramaniam, Managing Partner, and has invested approximately $800 million in both early and late-stage companies located in the United States and Europe. For more information, please visit www.newscienceventures.com.
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