Biotechnology firm Automera raised $16 M Series A funding from ALSP, ClavystBio
Accelerator Life Science Partners (ALSP) and ClavystBio have co-led a $16 million Series A funding round for Singapore-based Automera, a new biotechnology company.
In addition to Xora Innovation and other unnamed investors, Automera said in a statement on Wednesday that the funding also included participation from Singapore-based global investor EDBI.
Loong Wang from Automera, Drs. Alice Chen and Thong Q. Le from ALSP, and Dr. Wen Qi Ho from ClavystBio are joining the board of directors.
“Automera was founded on the premise that improving health outcomes for people with serious diseases requires new technologies that make it easier, faster, and less expensive to develop safe and effective medicines,” said Loong Wang, Co-Founder of Automera.
He thinks that one such technology is the company’s autophagy-targeting chimera small molecules (AUTAC) platform, which has broad application potential across a variety of disease indications that are challenging to treat with current therapeutic strategies.
“We greatly value the business and financial support that ALSP provides and are proud that leading healthcare investors are participating in Automera’s Series A financing,
“With these resources, Automera is well positioned to deploy our AUTAC platform toward the development of potentially transformative therapies,” he added.
AUTAC development is the primary objective of the newly founded biotechnology company Automera.
Co-founders Associate Professor Michael Lazarou, Loong Wang, and Taiyang Zhang founded the business at Talo Labs Pte Ltd.
The AUTAC platform from Automera is a cutting-edge method for maximizing the therapeutic potential of targeted protein degradation (TPD).
TPD, a new area of novel therapeutics, catalyzes the breakdown of proteins linked to disease while maintaining the advantages of small molecules.
The AUTAC platform from Automera is made to produce novel therapies that destroy pathogens as well as disease-related proteins and protein aggregates.
According to Automera, compared to current strategies for inducing protein degradation, such as proteolysis-targeting chimeras (PROTACs), AUTACs have the potential to be more adaptable.
