Merck KGaA has committed $50 million to build a new biotech with prolific life science investor Versant Ventures, with the ultimate goal of devouring the NewCo down the line.
The new outfit is called Saturnus Bio, Merck KGaA announced today, and will focus on developing medicines for rare genetic heart diseases. The German drugmaker’s cash will support Saturnus’ research work and grant Merck KGaA a minority stake in the company.
Merck KGaA has also committed additional funding tied to preclinical milestones, and the pharma holds the exclusive option to acquire Saturnus should the biotech succeed in its heart-focused mission.
“Through our partnership with Saturnus Bio, we aim to fast track the development of innovative therapies for genetic cardiomyopathies through precision cardiology, targeting the rare population impacted by these conditions,” David Weinreich, M.D., Merck KGaA’s head of R&D and chief medical officer, said in the release. “By leveraging Saturnus' expertise and cutting-edge approach, we can build upon our armed antibodies capabilities and explore novel directions to rapidly bring new, targeted treatments to patients.”
Saturnus’ CEO is Rick Dewey, M.D., an entrepreneur-in-residence at Versant who previously held roles at Foresite Labs and Regeneron Genetics Center.
With Merck KGaA’s support, Saturnus “is in strong position to accelerate development of its pipeline of first-in-class medicines for genetic cardiomyopathies,” Dewey said in the release.
Genetic cardiomyopathies are defects in heart muscle structure and function that are passed down through families. They come in a variety of forms and can cause heart failure and even sudden death. Saturnus will focus on cardiomyopathies that are caused by mutations in single genes, according to the release.
The man leading the new biotech’s discovery research venture is Russell Miller, Ph.D., according to his Google Scholar and LinkedIn profiles. Miller previously led the cardiometabolism research group at Pfizer and ended his decade-long stint there studying rare cardiomyopathies in the Big Pharma’s rare disease unit.
An eventual acquisition of Saturnus would help strengthen Merck KGaA’s early pipeline, which the company’s healthcare CEO Danny Bar Zohar called “rather slim” in May.