Acelyrin Wants to Move LA Biotech Beyond the 'Innovate and Exit' Model

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Acelyrin Wants to Move LA Biotech Beyond the 'Innovate and Exit' Model

The reality for most bioscience startups developing drugs is that, if they don't fail, they will be swallowed up by a pharmaceutical giant.

After a decade in the pharmaceutical industry and being involved in developing several high-profile drugs including Humira, Shao-Lee Lin wasn't interested in creating another company for big pharma. She wanted to create the next Amgen.


She created Acelyrin with biotech veteran Bob Carey last year to develop immunological drugs. They announced their first drug in development is izokibep; a high-potency, small molecular drug that aims to target several autoimmune diseases like axial spondyloarthritis, an arthritis that affects the spine; and hidradenitis suppurativa, a painful chronic disease. More than 300 patients have been dosed with it.

"We're not looking to be the typical startup company that ultimately will incubate something for a number of years and flip and exit and then cycle back and do it again," she said.

Lin moved from Chicago to Southern California after getting the backing of Westlake Village BioPartners, a venture firm co-founded by ex-Amgen executives Sean Harper and Beth Seidenberg.

"Part of our mission was to build the L.A. biotech hub," Lin said. "I was living in the Chicago area at the time and I agreed to relocate here and to headquarter Acelyrin here as part of [Westlake Village BioPartners] efforts to continue to build the L.A. biotech hub."

Now, the company has announced $250 million in Series B funding led by AyurMaya, Surveyor Capital and Westlake Village BioPartners. Acelyrin's $250 million raise will go towards further developing izokibep to get it in the hands of patients, and creating new drugs.

"It's this $250 million Series B that just makes it that much more real, tangible and vibrant for us, that enables us to continue to attract innovators and talent in the area, as well as enhance the opportunities of all of those people who are already in the area."

Westlake Village BioPartners launched in 2018 with several million dollars to invest in Southern California bioscience startups on the frontier of drug development. It opened a 130,000 square foot campus next to Amgen's headquarters to house many of the startups they invest in.

Lin spent more than a decade at biopharma giants like Amgen, Gilead and Abbvie and had a hand in several drugs like Humira and Enbrel.

"We really are after building a long-term sustainable biopharma company that ultimately has fully integrated R&D as well as commercialization," Lin said.

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Los Angeles’ Wage Growth Outpaced Inflation. Here’s What That Means for Tech Jobs

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Los Angeles’ Wage Growth Outpaced Inflation. Here’s What That Means for Tech Jobs

Inflation hit cities with tech-heavy workforces hard last year. Tech workers fortunate enough to avoid layoffs still found themselves confronting rising costs with little change in their pay.

Those national trends certainly touched down in Los Angeles, but new data from the Bureau of Labor Statistics (BLS) show that the city of angels was the only major metro area that saw its wage growth grow by nearly 6% while also outpacing the consumer price index, which was around 5%. Basically, LA was the only area where adjusted pay actually came out on a net positive.

So, what does this mean for tech workers in LA County?

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https://twitter.com/samsonamore
samsonamore@dot.la

Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups
Photo by Red Zeppelin on Unsplash

The Inflation Reduction Act contains almost $400 billion in funding for clean energy initiatives. There’s $250 billion for energy projects. $23 billion for transportation and EVs. $46 billion for environment. $21 billion for agriculture, and so on. With so much cash flowing into the sector, the possibilities for investment and growth are gigantic.

These investment opportunities, however, have typically been inaccessible for everyday retail investors until much later in a company’s development–after an IPO, usually. Meaning that the best returns are likely to be captured by banks and other institutions who have the capital and financing to invest large sums of money earlier in the process.

That’s where Pasadena-based Energy Shares comes in. The company wants to help democratize access to these investment opportunities and simultaneously give early-stage utility-scale energy projects another revenue stream.

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How These Ukranian Entrepreneurs Relocated Their Startups to LA and Found Success

Aisha Counts
Aisha Counts is a business reporter covering the technology industry. She has written extensively about tech giants, emerging technologies, startups and venture capital. Before becoming a journalist she spent several years as a management consultant at Ernst & Young.
How These Ukranian Entrepreneurs Relocated Their Startups to LA and Found Success
Joey Mota

Fleeing war and chasing new opportunities, more than a dozen Ukrainian entrepreneurs have landed in Los Angeles, finding an unexpected community in the city of dreams. These entrepreneurs have started companies that are collectively worth more than $300 million, in industries ranging from electric vehicle charging stations to audience monetization platforms to social networks.

Dot.LA spent an evening with this group of Ukrainian citizens, learning what it was like to build startups in Ukraine, to cope with the unimaginable fear of fleeing war, and to garner the resilience to rebuild.

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