Fate Therapeutics Buys Verio Therapeutics
Fate (FATE) Therapeutics had (4/8/10) announced the acquisition of Verio Therapeutics Inc., a privately held biotechnology company based in Ottawa, Ontario, which is developing drug candidates targeting the activation of endogenous stem cells. Terms of the purchase weren’t shared, but it adds considerable experience in muscle and pancreatic regeneration. FATE is developing small molecule and biologic drug candidates to modulate stem cell pathways to stimulate a desired outcome, such as regenerating tissue or blocking cancer growth. To accelerate therapeutic development in stem cell medicines, FATE is exploring both novel and human-experienced small molecules and biologics to develop lead drug candidates to develop therapeutics based on modulating cell fate and to enable a new drug discovery paradigm with their proprietary induced pluripotent stem cell (iPSC) technology. Its platform is positioned to interrogate the pathways which control cell fate and has the potential for multiple applications to treat diseases and conditions, which currently have limited to no therapeutic options.
- Activate stem cells in the body to stimulate healing and repair or block cancer growth,
- Create and differentiate iPS cells for personalized cell replacement therapies,
- Broad therapeutic potential in areas such as regenerative medicine, hematological diseases, metastatic cancer, traumatic injury and degenerative diseases,
- Currently conducting a Phase 1b clinical trial of FT1050, a small molecule SCM designed to increase hematopoietic stem cell number and function in dual umbilical cord blood transplant recipients with hematologic malignancies, such as leukemia and lymphoma.
Fate, which is privately held and based in San Diego, Cal, landed $30 M in a 2nd round investment in 11/09 led by OVP Venture Partners which included a syndicate of 3 investors: Astellas Venture Management, Genzyme Ventures and an undisclosed partner.
For Ottawa-based Verio, being acquired offers a chance to move its “therapeutic programs into advanced pre-clinical and clinical testing for the treatment of major medical conditions, such as sarcopenia, diabetes and heart disease,” stated Verio CEO Frank Gleeson. Visit: http://www.fatetherapeutics.com