Paratus Sciences Press Release
March 8, 2023
Paratus Sciences Launches with $100M Series A Financing to Develop Novel Therapeutics Based on the Unique Biology of Bats.
Paratus harnesses the extraordinary biology of bats to create novel therapeutics using a proprietary platform.
Focus on inflammation, virology, metabolism, oncology, and autoimmune disorders.
Series A co-led by Polaris Partners, ARCH Venture Partners, ClavystBio, EcoR1 Capital, and Leaps by Bayer, with participation from Alexandria Venture Investments.
New York, NY, and Singapore. Paratus Sciences (paratussciences.com) a therapeutics discovery engine, announced a $100 million Series A financing co-led by Polaris Partners, ARCH Venture Partners, ClavystBio, EcoR1 Capital, and LEAPS by Bayer, with participation from Alexandria Venture Investments. The capital will be used to accelerate its drug discovery platform based on a groundbreaking approach to identify novel therapeutic targets based on the unique attributes of bat biology, with an initial focus on inflammation as well as other areas of high unmet need. The company has dual sites in New York and Singapore to access bat samples and scientific expertise globally, and is led by: founding CEO Amir Nashat, Managing Partner at Polaris Partners; founding President Phil Ferro, a virologist, and former official on the National Security Council staff at The White House; and Chief Scientific Officer Deborah Slipetz, former Executive Director of the RTW Charitable Foundation Research Institute, and Executive Director in preclinical drug discovery at Merck and Co.
“We believe that understanding bat biology holds the key to a healthier world. We are delighted to have recruited an experienced and diverse team and to have the backing of a world-class syndicate to develop novel therapeutics,” said Amir Nashat, CEO and Managing Partner at Polaris Partners.
Over the last ~65 million years, bats have developed many remarkable physiological traits that may very well hold the key to transforming human health. In addition to being the only mammals that fly, bats have evolved the ability to control inflammation, tolerate viral infection, resist cancer, accept extreme diets, and live exceptionally long lives for a mammal of their size. “The elusive lifestyle of bats coupled with a lack of scientific tools and reagents has made the study of these extraordinary animals difficult. For the first time ever we will be able to elucidate insights related to the amazing physiology of bats to develop better medicines,” said Ferro.
Paratus is founded by Paul Matsudaira, Richard Young, and Thomas Zwaka.
“Patients continue to suffer from cancer, viral infections, chronic inflammation, metabolic disorders, and diseases of aging. We are excited about the new approaches that Paratus is exploring to treat these diseases through its platform,” said Lucio Iannone of Leaps by Bayer.
About Paratus Sciences
Paratus Sciences is committed to improving human health and health security through an understanding of bat biology. They are focused on identifying and developing groundbreaking therapeutics for a myriad of diseases by developing the tools and methods necessary to understand the extreme and unique attributes of bat biology and apply these insights to identify and develop new therapies to address some of the most challenging health issues facing humankind. Founded by Paul Matsudaira, Richard Young, and Thomas Zwaka, Paratus is accelerating a drug discovery platform that leverages the power of cell biology, genomics, and informatics. The company’s investors include Polaris Partners, EcoR1 Capital, ClavystBio, Bayer Leaps, Arch Venture Partners, with participation from Alexandria Venture Investments. To learn more about how Paratus is changing the face of drug discovery through an understanding of bat biology, visit paratussciences.com or follow us on LinkedIn.
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About our Investors
About Polaris Partners
Polaris Partners has a 25-plus-year history of partnering with repeat entrepreneurs and world-class innovators who are improving the way we live and work. The multibillion-dollar firm manages specialty and diversified funds in healthcare and technology with investments across all stages. Polaris has offices in Boston, San Francisco, and New York. www.polarispartners.com
About ARCH Venture Partners
ARCH Venture Partners invests in advanced technology companies and is one of the largest early-stage technology venture firms in the United States. The firm is a recognized leader in commercializing technologies developed at academic institutions, corporate research groups and national laboratories. ARCH invests primarily in companies it co-founds with leading scientists and entrepreneurs, bringing innovations in life sciences and physical sciences to market.
ClavystBio’s mission is to accelerate life sciences translation and innovation in Singapore. The company invests in early-stage ventures in the biotech, medtech, and digital health sectors, as well as in real estate and service platforms to launch and grow global life sciences companies. ClavystBio is established by CLA Real Estate Holdings, a wholly owned subsidiary of Temasek.
For more information on ClavystBio, please visit www.clavystbio.com
About Leaps by Bayer
Leaps by Bayer, a unit of Bayer AG, leads impact investments into solutions to some of today’s biggest challenges in health and agriculture. The investment portfolio includes more than 50 companies. They are all working on potentially breakthrough technologies to overcome some specific challenges such as, e.g., developing a sustainable protein supply, reducing the environmental impact of agriculture, preventing or curing cancer, and others. For more information, go to leaps.bayer.com
About Alexandria Venture Investments
Alexandria Venture Investments, founded in 1996, is the strategic venture capital platform of Alexandria Real Estate Equities Inc. (NYSE:ARE). Since the platform’s inception, it has actively invested in disruptive life science companies as well as promising agrifoodtech, climate innovation, and technology companies that are advancing new, transformative therapeutic modalities and platforms to meaningfully improve human health. With over $1.6 billion under management, Alexandria Venture Investments has been recognized by Silicon Valley Bank as the #1 most active corporate investor in biopharma by new deal volume for six consecutive years and by AgFunder as one of the top five most active U.S.-based investors in agrifoodtech for three consecutive years. For more information, please visit www.are.com/venture-investments.html.