The founder of a biotech bought by Gilead Sciences has birthed another startup. Dania Therapeutics begins life with a discovery program based on Kristian Helin’s work and plans to advance small-molecule inhibitors of new oncology targets.
Helin previously founded EpiTherapeutics, an epigenetic cancer biotech that Gilead bought in 2015. To set up the new firm, Helin, now chief executive and president of The Institute of Cancer Research, and co-founder Karl Agger have contributed inhibitors of new oncology targets that will be taken forward in partnership with fragment- and structure-based drug discovery specialist Vernalis Research.
Vernalis, which China’s HitGen bought last year, has agreed to carry out all activities up to lead optimization in return for a stake in Dania. The agreement gives Vernalis the option to fund further discovery activities until the nomination of a preclinical candidate.
“This innovative business model where Vernalis trades the usual cash and milestones payments for equity demonstrates Vernalis’ confidence in its expertise and its ability to collaborate with talented scientists and successful entrepreneurs. We have been impressed by the quality of the work from Kristian,” Mike Wood, managing director at Vernalis, said in a statement.
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Biotech accelerator Hannibal Innovation is the other player behind the formation of Dania. Hamed Brodersen, founder of Hannibal, will serve as Dania CEO. Fellow Hannibal founder Karin Absalonsen has occupied the post of chair of the board of directors. Lundbeck veteran Kim Andersen has taken up the chief operating officer position. Hannibal will run Dania in the early stages of the biotech.
Details of the targets pursued by Dania are yet to emerge, but the résumés of co-founders Helin and Agger point to the broad areas that could be of interest to the biotech. Helin and Agger have previously collaborated on the discovery and characterization of histone demethylases. In recent years, the co-founders have published papers on targets including PRC2.