Adapsyn Bioscience secures financing from Pfizer R&D Innovate and Genesys Capital

Adapsyn Bioscience Inc. has raised undisclosed amount from Pfizer R&D Innovate and Genesys Capital. Adapsyn Bioscience has also entered into a research collaboration agreement with Pfizer Inc.

Founded in 2016, Hamilton, Ontario based Adapsyn Bioscience Inc. is a biotechnology company focused on the discovery and development of novel medicines derived from evolved small molecule natural products.

The Adapsyn platform combines genomic and metabolomic data with artificial intelligence and machine-learning to identify novel, mechanistically diverse evolved small molecules from human and environmental microbiomes. The financing will support the company’s internal drug development programs.

“We are excited to apply our platform to unlock the unique targeting capacity of these evolved compounds and realize new therapeutics,” commented Nathan Magarvey, PhD, Founder and Chief Scientific Officer of Adapsyn. “Recent technological advances in machine learning, artificial intelligence, and large-scale genomic and metabolomic analysis are reenergizing the field of natural product drug development, and Adapsyn is excited to be at the forefront of this work.”

“Discovering truly novel compounds that exhibit new pharmacological signatures from natural products has historically been a very time- and labor-intensive process,” said Edmund Graziani, Chemistry Research Fellow and Head of Synthetic Biology and Natural Products, Pfizer. “Adapsyn’s technology could potentially help take much of the guess work out of the process, and help reveal novel chemistry and biology from our natural product samples.”

Under the terms of the research agreement, Adapsyn and Pfizer are working together to employ Adapsyn’s proprietary platform technologies with the goal of identifying and testing previously undiscovered natural products from Pfizer’s collection of microbial strains. Both companies have exclusive rights to pursue select novel compounds and their derivatives identified through the collaboration. In addition to an upfront payment, should Pfizer advance any potential compounds identified through the collaboration, Adapsyn is entitled to potential preclinical, and regulatory milestone payments of up to $162 million, as well as royalties on potential future sales of any product that may be derived from this collaboration. Should Adapsyn advance any potential compounds identified through the collaboration, Pfizer will be eligible for future milestone and royalty payments as well.

Dr. Magarvey will be joined on Adapsyn’s board of directors by Dr. Margi McLoughlin, Pfizer; Kelly Holman, Genesys Capital; Dr. Andrew Haigh, Adapsyn’s COO; and Iain Buchanan, former CEO of Novexel S.A. and NOXXON Pharma AG, as Chairperson of the board.

photo credit: Adapsyn

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.