ImmixBio CEO Dr. Ilya Rachman/ Courtesy of ImmixBio
The company's therapy has shown promising results in treating glioblastoma, ovarian tumors and multiple myeloma in preclinical studies
Rachman said he wants to take the company public so he can further the development of the cancer drug and expand it to treat colon cancer. He also hopes to continue Immix's work on inflammatory bowel disease treatment that is in preclinical stages.
"This company truly benefits the ultimate consumer, which is the massive patient population, as well as investors who want to back worthwhile clinical innovation that bring meaningful improvement to standards of care in oncology," said Rachman.
The therapy is currently undergoing clinical trials to treat ovarian cancer, breast cancer, pancreatic cancer and solid tumors to determine what dose is appropriate for patients. The first U.S. patient was dosed in 2020.
Early clinical trials showed promising results for patients dealing with soft-tissue sarcoma, a rare type of cancer. Using Immix therapy, patients' cancers were controlled for roughly four months, which allows doctors to continue experimenting with different treatments before the cancer either grows or evolves.
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Capsida's new 15,000-square-foot manufacturing site in Thousand Oaks will be used to engineer small viral particles to treat rare diseases like ALS and Friedreich's Ataxia, both of which severely impact mobility.
It's a rare move for a company that young; most startups developing therapeutics often partner with a contract manufacturing facility that makes drugs for multiple companies. But Capsida, already a fully-integrated company that works on research and development and preclinical studies, will be able to create therapeutics at a higher rate than if they were to contract.
"We've decided that, given our platform and what we feel like we can do with capsid engineering, the speed to market and the ability to get to clinic is such that if we have our own internal capabilities, we can move faster. We can be more agile," Capsida Chief Manufacturing Officer Rayne Waller said.
Photo by Keerthi Vedantam
Capsida's facility comes with two production suites where equipment can move flexibly (which will be useful as the company scales up, scales out or pivots), a sterile fill room to package drugs, and a large storage facility to preserve drugs in freezers. The facility will employ 40 to 50 people. Capsida is still building out a research space that will be anywhere from 20,000 to 25,000 square feet that will look into different use cases for capsid engineering — and the facility can support three to four clinical programs a year, allowing Capsida to test for a variety of use cases.
Capsida's facility is yet more proof of the impact local funding can have on keeping companies in L.A. The company announced in April it raised $140 million from Westlake Village BioPartners, a two-year-old venture capital firm founded by Amgen executives that raised one of the biggest funding rounds of 2020 in L.A and invested in several life science companies in Southern California. The firm recently built out an incubator space and office spaces for companies like Capsida to move into.
Venture capital firms like Westlake Village BioPartners are key to establishing biotech companies in L.A., according to Stephanie Hsieh, head of the Los Angeles' office for Biocom. In order to successfully pull off drug development, she said startups need need "the right investors with the sophistication and the knowledge of what it takes to really invest in biotech."
"It's super long lead times. It's a really complex product when you're talking about drugs and all that goes into it," Hsieh said.
The facility is another win for Thousand Oaks, which changed its zoning laws two years ago in a bid to accommodate more biotech companies. Capsida's facility is surrounded by medical technology facilities, including manufacturer ECA Medical Instruments, immunotherapy company Atara Biotherapeutics and pharma giant Amgen.
"We realized early on how important it is to make way for growth in the sector and to attract some of the best research companies in the world," said Thousand Oaks Mayor Claudia Bill-de la Peña.
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"We believe that an A-plus team can turn a C-minus product into a really successful venture," he said. But the inverse, he said, isn't always true.
The 12 companies chosen for TechStars LA's 2021 Accelerator includes a social network platform for traders, a startup making a wristband that detects strokes and an app to handle small claims court cases.
Kozlov, who took the helm in February, is also taking his inaugural TechStars Los Angeles class in-person after the accelerator went remote during the pandemic.
"Nothing is better than an in-person experience for the mentors and founders," he said. "We are planning this year to bring the best of both worlds."
Kolzov, who spent the last two years working from home with "little" human interaction, is looking forward to swapping ideas across a table. TechStars LA is also in for other changes. The class will be held at an office space in Culver City, where most of the mentorships and instruction will take place.
But with LA County's new mask rules and an unpredictable virus, he's braced for the prospect of returning restrictions if COVID-19 cases rise.
"We've done it before, and we have to, we'll do it again," Kozlov said.
Kozlov said making sure the startups are racial diversity was a major area of focus for the accelerator. Many of the companies are led by Latino, Black and Asian American founders, and a majority of the businesses have women in their leadership.
"In terms of diversity, we really set that as a requirement when constructing this cohort," Kozlov said. "We wanted to make sure that the community of TechStars that we're bringing into this portfolio represents the community of LA."
Chelsie Hall, the co-founder of ViralMoment, said she's looking forward to collaborating with other startups and has already benefited from TechStars' network.
"The program hasn't even started yet, and they've already connected us to people who are just absolute experts in the space," said Hall, whose company helps brands identify internet trends.
The TechStars LA Accelerator's 2021 class will receive three months of training mentoring. Each company will receive $20,000 in exchange for 6% equity in the company, as per TechStars' usual accelerator agreements.
Here's a preview of this year's class:
Born out of Yale University, Alva Health wants to help people identify strokes sooner with a wristband that helps detect "the silent killer." Strokes are among the top leading causes of death worldwide. Detecting a stroke early is often a key way to improve survival rates and reduce side-effects for stroke victims.
"It's kind of a problem that has not been solved," said Sandra Saldana, CEO and co-founder of the Houston and New Haven based startup.
Butterfly Labs wants to make at-home lab testing easier for telehealth companies.
Based out of Los Angeles, Butterfly's software provides telehealth companies access to labs, testing and results that can be shared with patients via their portal and mailing services. So far, they have partnered with 10 labs to offer blood and other tests.
Cheres is a social network for stock tracking.
The platform allows users to see what their friends and followers are investing in. The app has pre launched and already has thousands on its waitlist, according to the company.
Co-founder Cimeran Kapur co-founded Communikind, an app that lets families track their health history and health data, after finding out she had cancer while in medical school. Available on both the IOS and the Google Play Store, the app also lets users share data with physicians.
Kapur created the app to give patients more control over their medical histories.
Led by Shilo Johnson, a former accountant, ComplYant sells software that helps businesses keep track of tax deadlines, bills and other paperwork.
Erdos Ventures buys small e-commerce businesses. Based out of Canada, Erdos generates an offer within 14 days and lets owners choose between fully selling the company or sharing profits.
Based out of India, Eunimart offers machine learning and AI-based tools to help companies manage their businesses across major ecommerce platforms, including Shopify and Amazon.
The company primarily operates in Asia and the Middle East and is aiming to expand into the U.S.
Lightbox wants to combine the online and in-person shopping experience. The company's main product is a smart, 43-inch touchscreen that connects in-store shoppers with their online accounts.
Co-founder Sumant Yerramilly is no stranger to the program; he went through Techstars Boston in 2009, where he worked on Amp Idea, a company that designed an interactive touchscreen for taxis. The company was later acquired by Verifone Transportation.
PeopleClerk is an app that lets customers prepare small claims lawsuits and file the correct paperwork online. It operates in all 58 California counties and is hoping to expand into other states.
PeopleClerk co-founder and attorney Camila Lopez said it takes 30 to 40 hours and multiple court visits just to navigate the court system, which is often exacerbated by filing the wrong paperwork or missing a step in the process.
"If you watch a small claims hearing, you will see that people are showing up with evidence everywhere," Lopez said. "It's kind of a mess, and you're leaving money on the table."
Renno is an online business that aims to streamline the home renovation process. Led by former real estate consultant and CEO Khalief Brown, the company's app lets customers design a renovation, get pricing quotes and find contractors.
SanityDesk is a software aimed at "solo-preneurs" and small businesses. The software helps businesses improve their web presence, marketing strategy and customer relations management.
ViralMoment wants to make it easier for companies to better understand what's trending on the internet so it can make its own "viral moment."
The company uses Artificial Intelligence to generate reports on what people are saying about a company online based on images, videos and memes posted online.
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