VIOLET Pharmaceuticals increases the effectiveness of immunotherapies for metastatic cancer

There is currently no specific treatment for metastatic cancers that focuses on the tumour’s invisibility to immune system cells. Tumour cells evade immune surveillance because of defects in the set of molecules and cellular processes that regulate the presence of antigens on the cell surface, which are required for recognition by the immune system. But now VIOLET Pharmaceuticals has been created with the aim of developing a solution to this challenge.

This spin-off of the Hospital del Mar Research Institute Barcelona seeks to make tumour cells visible by forcing them to overexpress the LCOR protein, which regulates tumour “visibility” by promoting the presentation of neoantigens. “By forcing tumour cells to express LCOR, we can make them visible to the immune system. By combining LCOR with immunotherapy, we open the door to treating metastatic breast cancer,” explains Dr Toni Celià-Terrassa, Chief Scientific Officer of VIOLET Pharmaceuticals and coordinator of the Cancer Stem Cells and Metastasis Dynamics Laboratory at the Hospital del Mar Research Institute.

To achieve this, the new company aims to advance the development of the first treatment based on mRNA therapy for metastatic breast cancer. The goal is to develop a nanotherapy that enhances immunotherapy’s effectiveness, following the model of mRNA vaccines used against COVID-19. LCOR messenger RNA would be responsible for inducing tumour cells to express the LCOR protein, thereby properly activating neoantigen presentation on the tumour cell surface to facilitate immune detection and elimination.

This translational research, led by Dr. Celià-Terrassa’s team, has already enabled the generation of intellectual property in a field where no treatment currently targets these mechanisms. “Our therapy emerges as a critical alternative to make tumour cells visible and vulnerable to immunotherapy,” he adds.

Thirty percent of breast cancer patients develop metastases, and the metastatic stage of the disease cannot be cured. Very few breast cancer patients currently benefit from immunotherapy. In experimental models, the approach pursued by VIOLET Pharmaceuticals has achieved complete responses in several preclinical models of different types of breast cancer. “VIOLET Pharmaceuticals is the tool that allows us to bring to life a novel alternative for treating these tumours, as there is currently no therapy on the market that acts on the mechanism allowing cancer to remain invisible,” states Dr Joan Albanell, Head of the Medical Oncology Department at Hospital del Mar, Director of the Cancer Research Programme at its research institute, and Medical and Clinical Director of the new company.

The new company has opened a funding round to finalise optimisation of the clinical candidate and validate its effectiveness in preclinical models of breast cancer and other cancers. The goal is to deliver the project to a pharmaceutical company between 2030 and 2032 to complete the steps required to commercialise the new therapy. The VIOLET Pharmaceuticals startup will be located at the Barcelona Biomedical Research Park (PRBB).

VIOLET Pharmaceuticals is the fourth company backed by the Hospital del Mar Research Institute Barcelona, following Palobiofarma, MedBioinformatics and Chemotargets, further consolidating the institute’s experience in knowledge transfer and the valorisation of biomedical research. Through its Technology Transfer and Translation Unit, HMRIB actively promotes the creation of spin-offs as a pathway to transform research into innovative solutions with real impact on people’s health, positioning the centre as a reference in transfer, translation, and biomedical innovation in Catalonia.

More info :https://violet-pharmaceuticals.com/ and https://www.linkedin.com/company/violet-pharmaceuticals/

European early-stage VC firm ‘Project A’ on Europe’s startup scene taking the next step

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Project A, the Berlin-based VC, just raised a new $200 million fund (€180 million) to continue backing European startups at Seed and Series A stage.

In addition, the firm — whose investments include WorldRemit, Catawiki, Voi and Uberall — announced it will now have a presence in London and Stockholm in order to put people on the ground in what it says are “two of its favorite ecosystems.”

What better time, therefore, to catch up with the team at Project A, where we talked investment thesis, why Stockholm and London, and the increasing interest in Europe from U.S. LPs and VCs. Other subjects we touched on include diversity in venture, and, of course, Brexit!

TechCrunch: You last raised a fund in 2016, totaling €140 million, what changes have you noticed since then with regards to the types of companies you are seeing and the European ecosystem as a whole?

Uwe Horstmann: Entrepreneurs definitely matured a lot over the last few years. We see more and more of serial founders who combine drive with experience delivering great results. We also noticed an increase in more tech / product-centric and in B2B models.

This doesn’t come as a surprise as the market for consumer-oriented models started developing much earlier and is now reaching its limits after a few years. Many entrepreneurs gained experience in the Old Economy or have been consulting companies for a few years, learned about the struggle with products and processes first-hand and developed solutions specifically tailored to the industry’s needs.

We also notice a rise in professionalism in company setups and a higher ambition level in founding teams. This is probably also due to a more professional angel and micro fund scene that has developed in Europe.

TC: I note that you have U.S. LPs in the new fund, which I think is a first for Project A, and more broadly we are seeing a lot more interest from U.S. VCs in Europe these days. Why do you think that is, and how does this change the competitive landscape for deal-flow and the ambition of European founders?

Thies Sander: Having our first U.S. LPs on board makes us proud. LPs have noticed that European VC returns have really picked up during recent fund cohorts.

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