Enavate Sciences Backs Graviton Bioscience in Financing Round to Advance Development of Selective ROCK2 Inhibitors
Enavate Sciences joins Cormorant Asset Management, Pontifax Venture Capital and Ovid Therapeutics in supporting Graviton's development of ROCK2 inhibitors across multiple indications
NEW YORK, Jan. 2, 2024 /PRNewswire/ -- Graviton Bioscience, a privately held clinical-stage biotechnology company focused on therapies that inhibit Rho/Rho-associated coiled-coil containing protein kinase 2 (ROCK2) announced completion of financing from Enavate Sciences, a portfolio company of Patient Square Capital. Proceeds from Enavate's investment will help to advance clinical development of GV101 and Graviton's pipeline of ROCK2 inhibitors to treat a range of serious fibrotic, inflammatory and neurologic conditions.
The funding represents the eighth portfolio investment Enavate has made in partner companies to date and follows Ovid Therapeutics' investment as part of a collaboration with Graviton announced in May 2023.
ROCK2 is an effector of the small GTPase Rho and belongs to the AGC family of kinases. It is implicated in the pathology of multiple diseases, including metabolic, autoimmune, inflammatory and neurologic disorders for which there is either inadequate or no treatment at all. Graviton's team previously successfully pioneered the development of Rezurock®, the first approved ROCK2 inhibitor, for graft vs. host disease.
"Enavate recognizes the enormous potential for novel ROCK2 therapies to treat severe medical conditions," said James Boylan, Chief Executive Officer of Enavate Sciences. "Sam's history of success and expertise in developing new treatments led us to make this commitment. We are looking forward to collaborating with our talented group of partners to advance these technologies."
"Finding safe and effective treatments for conditions that currently have no cure is our priority," added Samuel Waksal, Ph.D., CEO and founder of Graviton. "We believe the advancement and commercialization of ROCK2 inhibitors will lead to breakthrough medicines for a range of diseases. We are enthusiastic about the support from Enavate Sciences as our partners."
In conjunction with the financing, Mr. Boylan has joined Graviton's Board of Directors.
About Enavate Sciences
Enavate Sciences is a portfolio company of Patient Square Capital dedicated to supporting therapeutic companies advancing medicines and enabling technologies with transformative potential to address unmet patient needs. Through the application of capital support and operational experience, Enavate strives to enable and empower a diverse portfolio of therapeutics companies to accelerate innovation. To learn more about Enavate, please visit www.enavatesciences.com.
About Graviton Bioscience
Graviton Bioscience is a clinical stage drug discovery and development company, dedicated to engineering and developing best-in-class therapeutics for treating CNS, autoimmune, fibrotic and other serious diseases where ROCK2 plays a pivotal role in pathology. Graviton's first drug candidate GV101 is in clinical studies, with additional assets advancing through the preclinical pipeline. Leading the company is Dr. Samuel Waksal, the founder and former Chairman and CEO of Kadmon Pharmaceuticals (acquired by Sanofi) where he led the development of REZUROCK® (belumosudil), the first approved ROCK2 inhibitor. Dr. Waksal is also the founder and former CEO of ImClone Systems (acquired by Eli Lilly) and a founder of MeiraGTx.
About GV101
GV101 is a best-in-class, clinical-stage selective inhibitor of Rho/Rho-associated coiled-coil containing protein kinase 2 (ROCK2) with blood-brain-barrier penetration capability, as demonstrated in preclinical studies. GV101 is in clinic in an ongoing Phase 1 multiple ascending dose trial in healthy volunteers and has achieved clinically relevant exposure with a favorable safety profile. A separate formulation of GV101 has completed a Phase 1 single and multiple ascending dose trial in China, also with a favorable safety profile at clinically relevant exposures.
Graviton Bioscience Contact:
Julia Balanova
Corporate Strategy and Communications
Julia.Balanova@gravitoncorp.com
Enavate Sciences Contacts:
Doug Allen/Zach Kouwe
Dukas Linden Public Relations
Enavate@DLPR.com
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SOURCE Graviton Bioscience
