Jessica Owens and Iana Dimkova are co-founders of Initiate Ventures—a female-led venture capital firm and studio that launched recently with a $45 million debut fund.

Initiate Ventures is shaking up the traditional venture capital model by blending investments in healthcare, life sciences, and technology with a company creation platform. The company is tackling some of the most pressing challenges in healthcare, and their innovative approach offers fresh insights into what it takes to scale transformative startups.

Owens was the co-founder of GRAIL (acquired by Illumina for $8bn) and was a partner at Kleiner Perkins, where she helped shape some of the most successful health tech startups. Dimkova is a former healthcare technology investor at GE Ventures, who also scaled a company that raised more than $700m and built one of the largest radiation therapy networks in the US.

Their approach is reflected in their dual model: funding existing companies while also co-creating ventures alongside founders in their startup studio. They helped launch groundbreaking companies like Macro Trials, a precision clinical research platform, and Persana, a leader in oncology diagnostics.

This week on the podcast, we have a conversation with one of the co-founders of the company, Jessica Owens.

00:40-05:19: About Initiate Ventures
05:19-08:33: What sets Initiate Ventures apart from other venture funds?
08:33-10:59: Revitalizing healthcare
10:59-13:46: Determining realistic company visions
13:46-15:15: Initiate Ventures and Initiate Studios
15:15-19:50: Working with companies
19:50-21:36: Working with new companies
21:36-23:00: Evaluating potential success
23:00-24:40: How hands on is Initiate Ventures?
24:40-28:24: Is there a change in what attracts capital?
28:24-30:02: Infectious disease – a neglected area
30:02-33:08: How important are ESG considerations?
33:08-35:42: Trends for 2025
35:42-36:42: Goals for 2025

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Brixton Biosciences, a clinical-stage life sciences company spun out from Massachusetts General Brigham, has been awarded $2m from the NIH HEAL Initiative to support the development of non-opioid, injectable pain relief solutions.

As part of the NIH's efforts to tackle the U.S. opioid crisis, the funding will advance research into safer, drug-free alternatives to opioid pain management. Brixton’s Neural Ice is an injectable, drug-free pain management technology designed to provide long-lasting relief from chronic and post-operative pain.

On the podcast this week, we have a conversation with Sameer Sabir, CEO and co-founder of Brixton Biosciences, to dive deeper into pain treatment, the opioid crisis, and Brixton’s mission.

01:05-02:47: About Brixton Biosciences
02:47-03:39: Brixton’s pipeline 
03:39-07:46: The opioid crisis
07:46-08:41: The extent of the crisis
08:41-12:00: Current alternatives to opioids
12:00-12:40: Managing pain
12:40-17:19: How was Neural ice developed?
17:19-18:33: Duration of treatment
18:33-21:01: Suitability for different levels of pain
21:01-21:31: Speed of effect
21:31-22:37: Side effects
22:37-24:18: Opioids vs. non-opioids
24:18-25:33: Are there different responses to Neural Ice?
25:33-26:29: Standardized doses
26:29-27:42: Pricing 
27:42-28:49: Other work on alternatives to opioids
28:49-30:45: Challenges to developing new pain treatments
30:45-31:57: Other priorities at Brixton
31:57-32:16: Timeline for Neural Ice 

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While our podcast takes a brief break, Labiotech invites you to enjoy some of our favorite episodes. We will return with a brand-new episode on January 3rd, 2025! Have an awesome holiday season!

On this podcast, we speak to Artiva Biotherapeutics’ CEO, Fred Aslan, M.D.

The company has demonstrated the potential for efficacy and safety with natural killer (NK) cells in two cancer clinical trials. In August 2023, the company announced FDA clearance for an IND for lupus – marking a first for an allogeneic, off-the-shelf NK or CAR-T cell therapy in autoimmune disease.

AlloNK (also known as AB-101) is a non-genetically modified, cord blood-derived, allogeneic, cryopreserved, ADCC-enhancing NK cell therapy candidate for use in combination with monoclonal antibodies or innate-cell engagers in the out-patient setting. 

Artiva is investigating AlloNK in a phase 1/2 multicenter clinical trial to assess the safety and clinical activity of AlloNK alone and in combination with the anti-CD20 monoclonal antibody, rituximab, in patients with relapsed or refractory B-cell-non-Hodgkin lymphoma (B-NHL). Artiva is also investigating the safety and clinical activity of AlloNK in combination with rituximab in patients with lupus nephritis. 

In addition, Artiva is collaborating with Affimed in a phase 2, open-label, multi-center, multi-cohort study, testing a combination therapy, comprised of AlloNK and the innate cell engager AFM13, for the treatment of patients with relapsed/refractory CD30-positive lymphomas. Artiva selects cord blood units with the high affinity variant of the CD16 receptor and a KIR-B haplotype for enhanced product activity. 

Using the company’s cell therapy manufacturing platform, Artiva can generate thousands of doses of pure, cryopreserved, infusion-ready NK cells from a single umbilical cord blood unit while retaining the high and consistent expression of CD16 and other activating NK receptors, without the need for engineering. AlloNK is being administered in the outpatient setting over multiple doses and multiple cycles.

Artiva’s pipeline also includes AB-201, an anti-HER2 CAR-NK cell therapy candidate for the treatment of HER2-overexpressing tumors, such as breast, gastric, and bladder cancers, and for which an IND has been allowed by FDA, and a pipeline of CAR-NK candidates targeting both solid and hematopoietic cancers. Artiva has also entered into therapeutic NK cell collaborations with Merck Sharp & Dohme.

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Our guest on the podcast this week is John Cassidy, director of life sciences and healthtech investments at SoftBank Vision Fund.

Softbank Vision Fund is the world’s largest technology-focused investment fund, with $166bn assets under management, and a portfolio of more than 250 companies.

In the discussion, we cover investment trends within life sciences, the European health and biotech scene, as well as the precise applications of new and emerging AI technologies. We also look ahead to what the biotech and life sciences fields may hold in 2025.

00:55-02:03: About the SoftBank Vision Fund
02:03-02:47: Developing timelines
02:47-04:27: Managing a large portfolio
04:27-11:18: Portfolio company profiles
11:18-13:36: Investment criteria
13:36-17:06: Trends in funding
17:06-19:09: Effects of the US election
19:09-21:45: How can companies reduce risk and raise funds?
21:45-25:25: What sectors are attracting interest currently?
25:25-27:49: Focusing on patients not profits
27:49-29:53: The impact of AI 
29:53-31:45: Focus on applications
31:45-35:24: Trends in European biotech funding
35:24-38:19: Trends for 2025

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There is a constant risk of severe, potentially life-threatening allergic reactions for individuals with peanut allergies, which leads to significant physical, social, and emotional burdens.

IgGenix, a clinical-stage immunology biotechnology company, recently announced the first patient dosed in its phase 1 trial evaluating IGNX001, a novel monoclonal antibody-based therapeutic, for peanut allergy. 

Designed to neutralize the most clinically important peanut allergens and epitopes, IGNX001 combats peanut allergies by blocking the allergic cascade and reducing risk of anaphylaxis.

Should IGNX001 prove successful, it will provide a promising solution for peanut allergies and pave the way for IgGenix's technology to be applied to other types of food allergies and allergic diseases.

Our guest on the podcast this week is Jessica Grossman, chief executive officer of IgGenix.

01:14-02:51: About IgGenix
02:51-06:30: About peanut allergy
06:30-07:31: Are allergies on the rise?
07:31-08:46: Are allergy responses similar?
08:46-10:13: The problems with treating allergies
10:13-13:53: Current treatments for peanut allergy
13:53-15:45: The challenges of developing drugs to treat allergies
15:45-16:54: Overcoming the placebo effect
16:54-18:18: Are other companies working on allergy treatments?
18:18-21:32: IgGenix’s SEQ SIFTER platform
21:32-24:20: About IgGenix’s IGNX001
24:20-24:42: Repeat doses
24:42-26:19: Could peanut allergy sufferers eat peanuts?
26:19-27:46: Can the technology be adapted to treat other allergies?
27:46-28:56: Are there variations in the treatment of different allergies?
28:56-29:35: Treatments for other diseases
29:35-30:23: The future for people with allergies

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ambiom is a life science commercial-advisory business development company based in the Slovakian capital of Bratislava.

The company helps its corporate clients with their product strategy, in- and out-licensing efforts, including asset valuation (NPV, rNPV), M&A scouting, complex due diligence and dealmaking.

ambiom also provides input on regulatory matters, support in pricing and reimbursement decisions and communication with decision-making authorities. The company guides products from the beginning - the basic science - all the way to commercialization or spin-offs.

Our guest on the podcast this week is the founder and CEO of ambiom, Adam Marťák. We discuss the biotech scene in eastern Europe, the company, and look at some of the challenges facing biotech companies as they navigate the financial pathway alongside drug discovery, regulations, and commercialization.

00:45-02:33: About ambiom
02:33-03:11: ambiom clients
03:11-04:21: Biotech in eastern Europe
04:21-11:35: Focusing on a niche
11:35-13:13: What do startups need?
13:13-15:19: How do you help startups?
15:19-16:52: Tech transfer
16:52-18:35: Early-stage and late-stage biotech valuations
18:35-21:48: Different valuation methods
21:48-22:53: Why do early-stage biotech valuations offer higher upside potential for investors?
22:53-23:42: How do you measure the value of pipeline potential?
23:42-24:35: Does a bigger pipeline guarantee more success?
24:35-27:08: Can companies look more attractive to investors?
27:08-28:41: Does pipeline speed affect investment?
28:41-30:27: Which valuation method is better for biotech companies?
30:27-31:46: Are some areas of biotech better for valuations?
31:46-33:18: What affects valuation?
33:18-35:13: The difference between financing of expensive and cheaper drugs
35:13-36:57 : Is funding more difficult now, and is it changing?

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Biological control company Oxitec recently launched Sparks, a new platform designed to rapidly scale Wolbachia replacement technology to take on dengue fever.

Backed by a multi-million-dollar investment from the Gates Foundation, Sparks adds to Oxitec’s Aedes aegypti technology, called Friendly, which is taking on dengue fever in Brazil. 

With mosquito-borne diseases on the rise, Oxitec’s Friendly mosquitoes are designed to suppress populations of disease-spreading mosquitoes and, in turn, reduce biting and the threat of disease transmission. Wolbachia-carrying mosquitoes are designed to spread Wolbachia bacteria into the local mosquito population to limit the ability of the remaining infected mosquito population to transmit dengue. 

The platforms are designed for specific settings and intervention types, and provide options for governments and communities seeking suppression, replacement or hybrid approaches using both.

Our guest on the podcast this week is the CEO of Oxitec, Grey Frandsen.

00:56-02:12: About Oxitec
02:12-05:54: The state of mosquito-borne diseases
05:54-07:09: The effect of climate change
07:09-08:29: Moving into more developed countries
08:29-10:27: Wolbachia replacement technology
10:27-12:53: The Sparks program
12:53-13:46: Other companies’ approaches
13:46-15:00: World Mosquito Program
15:00-15:30: Establishing timelines
15:30-17:20: The effect on the environment
17:20-18:54: Could adaptation render the technology useless?
18:54-20:52: Are the Sparks and Friendly programs being used together?
20:52-21:57: Do the technologies work differently on different species?
21:57-26:28: How to determine rollout conditions
26:28-27:19: Are repeat interventions needed?
27:19-30:32: Are there limitations based on cost or politics?
30:32-33:11: Are the technologies applicable to other problems?
33:11-35:08: Is there anything else in Oxitec’s pipeline?

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Immunology is a key area in biotech and biopharma, both in terms of R&D and sales.

However, according to UK-headquartered Greywolf Therapeutics, the industry has only focused on two-thirds of the puzzle.

To have an immunological effect, you must activate the body’s T cells, which cells requires a chain of three key signals. The first is antigen recognition, i.e. the initial detection of a cell by a T-cell. The second is the co-stimulation of non-antigen presenting molecules, which enhances the immune response​. The final step is cytokine-mediated differentiation and expansion, which guides how T-cells target threats. ​

Companies have focused on the second two signals, with signal 2 most commonly seen in therapies such as checkpoint inhibitors and monoclonal antibodies. Signal 3, on the other hand, can be primarily seen in therapies for autoimmune disorders, such as anti-TNF and JAK inhibitors.

Greywolf Therapeutics is the first company to explore changing signal 1. The company says focusing on signal 1 applies in three key therapeutic areas: oncology, autoimmunity and virology. 

Greywolf’s first candidate has delivered strong results during its ongoing phase I/II trial in oncology, therefore demonstrating proof-of-mechanism and target engagement, with its next candidate well-progressed in preclinical development in autoimmunity.

To tell us more about the company and its work is Pete Joyce, CEO and co-founder of Greywolf Therapeutics.

01:19-04:12: About Greywolf Therapeutics
04:12-04:51: The origins of the name
04:51-06:52: The three ‘signals’ of the mechanics of immunological responses
06:52-08:31: Treatments associated with each signal
08:31-10:09: Why is step 1 important, and why has it not been investigated for treatments?
10:09-11:28: What areas of disease is this applicable to?
11:28-12:19: How do you inhibit ERAP?
12:19-14:01: Greywolf Therapeutics’ candidates
14:01-15:11: How is this an advance on current treatments?
15:11-16:05: What is success for patients?
16:05-17:20: How does the stage of disease affect treatment?
17:20-18:09: Are other companies looking into antigen modulation? 
18:09-19:47: Has this led to investment opportunities?
19:47-21:15: Next steps
21:15-21:55: Do you anticipate more interest in this space?
21:55-23:21: Attending events 

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The Bill & Melinda Gates Medical Research Institute (Gates MRI) is a non-profit medical research organization dedicated to the development and effective use of products like drugs, vaccines and monoclonal antibodies to address substantial global health concerns, for which investment incentives are limited, including malaria, tuberculosis, diarrheal diseases, and diseases that impact maternal, newborn, and child health.

This week, our guest is Dr Claire Wagner, head of corporate strategy and market access at Gates MRI.

Wagner has dedicated her life to global health. Her early years working in West Africa and East Africa – including five years working with the Rwanda Ministry of Health – were formative experiences for her. 

She helped document health sector outcomes in Rwanda and had a front row seat to the progress the country was making at the time, which led to her pursuing and obtaining an MD and MBA from Harvard.

Her experiences led to her becoming one of the early employees of the Gates MRI, where she is on the executive leadership team and leads the institute's global access strategy as well as related engagement with commercial partners, financial institutions and multilaterals.

She tackles the challenge of paving the way for the drugs, biologics and vaccines that the Gates MRI is developing – if they are successful in clinical trials – to be affordable and accessible to the people in low- and middle-income countries who would benefit most. In March 2024 the Gates MRI launched a phase 3 clinical trial for a tuberculosis vaccine candidate, and market access for this candidate is a top priority for Wagner.

01:51-04:47: Background on Dr Claire Wagner
04:47-06:24: Work in Rwanda
06:24-08:40: Gates MRI
08:40-12:50: Progress at Gates MRI
12:50-14:06: Gates MRI R&D priorities
14:06-16:26: The differences between Gates MRI and traditional biotechs
16:26-18:40: Gates MRI partnerships
18:40-22:52: The inequality of developing drug treatments
22:52-25:45: Return on investment
25:45-27:01: Did COVID increase global awareness?
27:01-27:44: Other companies working on treatments
27:44-31:48: Gates MRI pipeline and clinical trials
31:48-34:51: Working on tuberculosis
34:51-36:00: Treatment mode of action
36:00-37:25: Future work at Gates MRI

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This week, we are taking a look at an important subject, and that is women working as CEOs, or other senior roles, in the biotech space. 

Kate Yen is the CEO of oncology biotech Auron Therapeutics, and she has spent her entire career in science. 

Auron is working on the next generation of targeted cancer therapies by identifying and inhibiting the oncogenic cell states of cancer. Auron’s AURIGIN platform uses AI and machine learning to compare normal cell states with cancerous cell states to identify novel cancer targets, optimal development models, and biomarkers to guide patient selection. 

Auron is building a pipeline of small molecule targeted therapies, led by AUTX-703, which is being developed for the treatment of solid tumors and hematologic malignancies, including acute myeloid leukemia.

02:16-07:44: About Kate Yen and Auron Therapeutics
07:44-09:09: The challenges of setting up a company
09:09-11:56: Auron Therapeutics’ lead candidate
11:56-12:52: The rest of the pipeline
12:52-13:29: Auron timeline
13:29-15:01: Are there specific challenges being a female biotech CEO?
15:01-15:49: Is there support for women in biotech beyond the CEO level?
15:49-16:51: Helping others
16:51-17:41: Challenges in the boardroom
17:41-18:40: Diversity in biotech
19:40-21:03: Changing mindsets
22:05-22:59: Being a role model
22:59-24:43: Attracting women from outside hubs
25:42-27:28: Diversity and education
27:28-31:31: The importance of AI
31:31-32:34: The evolution of Auron

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This week’s podcast is sponsored by Cryoport Systems, the global leader in comprehensive temperature-controlled supply chain solutions, is proud to introduce IntegriCell™ to preserve the future of medicine. IntegriCell™ cryopreservation services provide an integrated, end-to-end solution to ensure the highest quality, consistency, and viability of manufacture-ready, cryopreserved leukopaks for cell therapies. IntegriCell™ enables seamless, efficient, and reliable cryopreservation services combined with end-to-end supply chain solutions to support the treatment of patients worldwide. For more information, visit Cryoport.com.