Published: May 12, 2021
MALVERN, Pa. (BUSINESS WIRE) Shifa Biomedical Corporation (Shifa), a drug discovery company developing an oral small molecule PCSK9/low density lipoprotein-cholesterol receptor (LDLR) antagonist, P-21, to treat dyslipidemia, today announced their launch with a seed investment from Xontogeny, LLC to advance their lead program through IND-enabling research.
“We are excited to announce our collaboration with Shifa to address the unmet need for oral drugs that can treat dyslipidemia without the need for injections,” said Chris Garabedian, Founder, Chairman and Chief Executive Officer of Xontogeny. “The expertise of our team at Xontogeny complements that of the team at Shifa, and we are aligned on the key milestones we plan to achieve with this seed investment.”
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At least 6 biotech startups launched in the past year after creating or acquiring smaller ventures.
These mega biotechs are fueled by record amounts of VC flowing into the drug industry.
Insiders say they are priced for perfection and could fail to live up to their early valuations.
To understand the hottest new trend in biotech, take a look at the firm Centessa Pharmaceuticals.
Centessa was formed just seven months ago by the life-sciences venture-capital firm Medicxi, which fused together 11 startups.
These startups likely would have been harder to finance as independent entities, said Perceptive Advisors Chris Garabedian and another venture capitalist who was not authorized to speak to the media (Neither had inside knowledge of the deal, and both said their assessment was bas
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