On April 6, 2023 Foundery, a biotechnology venture studio focused on translating immunology discoveries into drug candidates, reported the company has entered into a master agreement with the University of Arizona’s ("UArizona") Tech Launch Arizona ("TLA") unit to facilitate the process of translating immunology discoveries into drug candidates (Press release, Foundery Biosciences, APR 6, 2023, View Source [SID1234656474]). The partnership is designed to support research and create opportunities to develop and commercialize new immunotherapeutics.
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"Our venture studio model is structured to identify therapeutic opportunities emerging from fundamental research in immunology conducted by leading scientists," said Michel Streuli, Ph.D., Chief Executive Officer and Co-Founder of Foundery. "Because time and financial commitments to conduct industry-standard translational research are typically not feasible for university researchers, Foundery helps bridge the gap by using its in-house immunologists and drug developers to validate targets and generate drug development candidates. Additionally, our unique win-win business model provides scientific and financial rewards to investigators and their institutions. We are thrilled to collaborate with Michael Kuhns, Ph.D., and UArizona to translate their discoveries into clinically testable therapeutics."
The master agreement enables UArizona researchers to propose candidate drug targets and concepts that might be crucial in the immunotherapeutic treatment of human diseases. Once a researcher proposes a candidate concept or target, Foundery’s scientific team conducts further research on the translatability of the idea and its therapeutic potential, with the ultimate goal of transitioning drug candidates to IND enabling studies or early clinical development via outlicensing to a biopharmaceutical company or through a venture-backed financing round. In addition, Foundery, as an impact investor, is structured such that a portion of the company’s profits can be directed toward charitable initiatives and advancing underrepresented founders.
"As we pursue our ultimate goal of generating impact from university research and improving lives through the innovations our research community is creating, this relationship with Foundery will be one more tool to help us maximize how quickly and effectively we’re able to bring those inventions to the world for the public good," said Rakhi Gibbons, director of licensing and intellectual property for TLA.
Max Krummel, Ph.D., University of California, San Francisco, Professor & Endowed Chair in Experimental Pathology and Co-Founder and Managing Member of Foundery added, "Building strong and lasting relationships with major research universities through master agreements is a key feature of our venture studio fund strategy. The agreement with UArizona is the second master agreement that we have announced this year. We anticipate more to come as the academic research community better understands our venture model and how it benefits all our constituencies."