Key Takeaways
- Steven St. Peter, M.D., and Luke Evnin, Ph.D., have launched Vie Ventures, a VC firm focused on autoimmune diseases.
- The firm collaborates with several non-profit organizations to enhance investment in biotech during series B and C rounds.
- Vie Ventures plans to donate a portion of their earnings to establish the Vie Ventures Foundation, aimed at advancing autoimmune disease research.
New Venture Focused on Autoimmune Diseases
Steven St. Peter, M.D., and Luke Evnin, Ph.D., both seasoned investors in the biotech field, have come together to create a new venture capital firm named Vie Ventures. This firm is dedicated to funding biotechnology companies that are raising series B and C rounds, particularly those focused on autoimmune diseases.
The launch of Vie Ventures is marked by collaborations with several prominent non-profit organizations. Key partners include the Crohn’s and Colitis Foundation, the Lupus Research Alliance, the National Multiple Sclerosis Society, the Scleroderma Research Foundation, and the Sjögren’s Foundation. These collaborations are intended to bridge the gap between philanthropic efforts aimed at disease-focused research and the profit-driven biotech industry. Lou DeGennaro, Ph.D., the former CEO of the Leukemia & Lymphoma Society, has been enlisted as a senior advisor to direct collaboration strategies.
St. Peter emphasized the unique opportunity presented by leveraging their extensive experience in biotech investments to make more informed decisions. “This bridge is unique, and we believe it will enable us to make more informed investment decisions, be a value-added investment partner for our portfolio companies, and increase the probability they succeed,” he stated.
Within Vie Ventures, St. Peter holds the position of managing director, while Evnin serves as a senior advisor. The duo previously worked together at MPM BioImpact for a decade, a Boston-based venture capital firm known for its investments in psychedelic and RNA companies. After leaving MPM, St. Peter took on a role as managing director of the T1D Fund, which focuses on drug development for type 1 diabetes. Evnin has been the chairperson of the Scleroderma Research Foundation for over 20 years.
Furthermore, Vie Ventures has committed to donating a portion of its profits to establish a new public charity called the Vie Ventures Foundation. This charity aims to accelerate research and innovation in the prevention, diagnosis, and treatment of autoimmune and inflammatory diseases.
The biotech landscape for immune-focused companies has shown promising developments this year, with firms like Ouro Medicines, Hillstar Bio, and Merida Biosciences successfully securing substantial funding in early rounds. Notably, Abcuro, supported by Sanofi, raised $200 million in February for a series C round to advance its anti-KLRG1 antibody through critical trial phases aimed at muscle-wasting diseases.
Vie Ventures is poised to play a significant role in this evolving market, equipped with strong partnerships and a clear mission to improve outcomes in the treatment of autoimmune diseases.
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