The wave we’re riding
The tools of drug creation – causal target biology, computational design and delivery – are maturing at the same time and compounding drug discovery.
Start from causally-validated human biology
The largest cause of clinical failure is choosing a target the disease doesn’t depend on. Biobank-scale human genetics and affordable functional genomics now let a company anchor its target in causal human biology from day one. Genetically-supported targets are roughly twice as likely to reach approval. Genetics validates the target, not the drug, but it attacks the single biggest reason drugs fail.
From screen-and-hope to design-to-spec
Protein and molecule discovery is shifting from searching to specifying. Since AlphaFold, de novo design and sequence models have moved from demonstration to production: increasingly, you define the binder or enzyme you need and get it, raising developability and shortening the discovery cycle. The design still has to meet the right biology; that is why we start with the target.
Delivery is opening, tissue by tissue
For a decade the binding constraint on genetic medicine wasn’t the payload; it was reaching the right tissue. The advances that opened the liver now reach muscle, the central nervous system and immune cells. Each tissue that opens converts a backlog of known-but-undruggable targets into programs. Delivery is becoming solved for specific tissues, not everywhere at once.
We underwrite the science directly
Scientific risk is the hardest variable in private biotechnology to assess. Capital that cannot assess it tends to discount it heavily or avoid it altogether.
Our team and expert network underwrite the science directly: the quality of the evidence, the strength of the intellectual property and the path to validation. That lets us form a view on value before the rest of the market does.
We apply the same discipline whether we are backing a company at inception or acquiring an existing position later in its life.
How we work with founders
We partner early. We give feedback on study design and protocols, review results with the team, and connect our companies with leading experts in their fields, so that early results become validated outcomes.
You can see the thesis in our portfolio.
Delivery beyond the liver. Editing as a platform. Proteins designed, not discovered. In vivo where it used to be ex vivo.