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Avilar Therapeutics Launches With $60 Million Seed Financing to Pioneer Extracellular Protein Degradation – Yahoo Finance

Summary

Company founded and financed by RA Capital Management with vision to extend protein degradation beyond intracellular proteins

Proprietary platform enables creation of novel degraders called ATACs to treat wide range of diseases

WALTHAM, Mass., November 18, 2021–(BUSINESS WIRE)–Avilar Therapeutics, a biopharmaceutical company focused on extracellular protein degradation, today announced a $60 million seed financing from founding investor RA Capital Management. Avilar is creating …….

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Company founded and financed by RA Capital Management with vision to extend protein degradation beyond intracellular proteins

Proprietary platform enables creation of novel degraders called ATACs to treat wide range of diseases

WALTHAM, Mass., November 18, 2021–(BUSINESS WIRE)–Avilar Therapeutics, a biopharmaceutical company focused on extracellular protein degradation, today announced a $60 million seed financing from founding investor RA Capital Management. Avilar is creating a novel class of protein degrader therapeutics designed to target disease-causing extracellular proteins, extending the reach of protein degradation beyond initial degraders that target intracellular proteins.

Avilar has built a proprietary technology platform to develop novel extracellular protein degraders called ATACs, or ASGPR Targeting Chimeras. ATACs harness a natural process through which endogenous proteins are internalized into hepatocytes via the asialoglycoprotein receptor (ASGPR) and degraded. Designed as bi-functional molecules, ATACs comprise a ligand that binds to a target protein, conjugated to a second ligand that binds to ASGPR. ATACs work by binding to and shuttling disease-causing proteins from circulation to the hepatocyte endolysosome, where the unwanted proteins are degraded.

“We believe the universe of extracellular proteins represents the next frontier in protein degradation and we are excited to launch Avilar as a pioneer company in this new space,” said Daniel Grau, CEO and President of Avilar Therapeutics. “Avilar has demonstrated in vivo proof-of-concept of ATAC‑mediated protein degradation in both rodent and nonhuman primate studies, and we look forward to advancing ATACs as novel medicines to degrade proteins involved in the pathogenesis of a wide range of human diseases.”

Proceeds from the $60 million financing have been allocated to developing Avilar’s ATAC degrader platform and to systematically applying this platform to create a pipeline of ATAC therapeutics.

“RA Capital has deep experience in the protein degradation field based on our investments to date in intracellular degradation companies such as Arvinas, C4 Therapeutics, Frontier Medicines, and Vividion. We are thrilled to now launch Avilar to go beyond intracellular degradation and establish a leading position in the extracellular protein degradation field,” said Josh Resnick, M.D., Managing Director at RA Capital and a member of the Avilar Board of Directors.

Proprietary ATAC Technology Platform for Extracellular Protein Degradation

Avilar’s proprietary technology platform enables the modular design and synthesis of ATACs to target diverse extracellular proteins. Key components of the ATAC technology platform include:

  • Novel ASGPR Chemistries: Avilar has deployed an X-ray structure guided approach to discover a library of small molecule, high-affinity ASGPR ligands that offer monovalent functionality and superior properties.

  • Modular Assembly: Avilar’s optimized small molecule ASGPR ligands are modular and can be efficiently incorporated into ATACs with different protein binders to target …….

    Source: https://finance.yahoo.com/news/avilar-therapeutics-launches-60-million-120000590.html