Now raising a seed extension round to identify a lead drug candidate and advance its follow-on programmes, the company talked to us recently about its great progress, big plans and how the BioEscalator has played a part in its development.
Straight into the BioEscalator
Founded by Haematology Professors Adam Mead and Beth Psaila at the end of 2021, the company came straight to the BioEscalator to start its work on incurable blood cancers, specifically chronic blood cancers known as myeloproliferative neoplasms (MPNs). Ed Ainscow rapidly joined as Chief Scientific Officer, bringing his translational experience from the commercial world via AstraZeneca, Novartis and Carrick Therapeutics, excited by Alethiomics’ new target discovery technology.
The need for curative therapies in MPN (source – Alethiomics)
© MRC Weatherall Institute of Molecular Medicine, University of Oxford
MPNs begin with mutations occurring in stem cells in the bone marrow. Currently available treatments do not eliminate the disease -driving stem cells, meaning they do not alter the progression of the disease. Identifying new drug targets that selectively kill these mutant stem cells is critical to developing new and potentially curative therapies.
What made the BioEscalator the ideal location for the new enterprise? Ed cites the ability to start work quickly, the high specification of the labs, and access to the central research facilities both at the BioEscalator and in the surrounding University of Oxford academic buildings. The ability to tap into technical expertise, state-of-the-art equipment, core facilities and networks makes for a cost-effective and collaborative experience – dramatically enhancing efficiency for an early-stage start-up.
Other benefits of being at the BioEscalator include the camaraderie, the sharing of contacts and events such as the regular mini supplier shows which showcase a range of laboratory product vendors.
‘Amazing progress’ being made
Adam and Beth established Alethiomics to translate their complementary research discoveries into medicines, with an over-arching goal of improving outcomes for the patients with MPNs for whom they care in the clinic. The combination of their work on malignant stem cell populations (Adam) and fibrosis-driving megakaryocytes (Beth) has generated a target discovery platform that the company has called ‘Artemis’. The platform enables an unparalleled ability to discover new cancer cell-specific targets and then functionally validate them in large patient cohorts and a relevant human tissue environment.
In the three years since establishment, the company has made major progress with a lead candidate programme and now has a clear line of sight to a first in human clinical trial. Notably, part of their work was carried out through a research agreement with Adam and Beth’s academic groups at the University of Oxford. These industry links are really valuable for academic researchers, Beth says, bringing exposure to different career paths and showcasing the value of industry collaboration to translate discovery science to the clinic. This fits well with the BioEscalator’s objective to help develop the next generation of entrepreneurs too.
Backed up by solid data, Alethiomics is now optimising the design of antibody-drug conjugates against new targets with plans to identify a drug candidate over the next year or so. The team has grown from one to eight as work has progressed.
What’s happening in the future?
Investor outreach for the seed extension round is now underway, led by Executive Chairman Mark Throsby whose extensive corporate experience complements the rest of the team. The clinical insights provided by Adam and Beth add real value to the fundraising process, illustrating how the company’s programmes are aligned with unmet medical need.
As well as advancing its lead programme, the next couple of years will see Alethiomics building its portfolio and generating income through collaborative partnerships and research agreements based on its platform technologies. With a Phase I study expected to start in Oxford in the next couple of years, Adam and Beth can use their clinical networks to help it proceed efficiently… the benefits of Oxford immersion again!
The future was also something that Beth was thinking about when she accepted the recent invitation to join the BioEscalator Management Board. She notes how Alethiomics has ‘really benefited’ from being here so she’s keen to support the facility to enable future companies to do so too.
To find out more about Alethiomics, visit https://www.alethiomics.com/