first-in-class
(11)
Antares Therapeutics
Antares Therapeutics is a Boston-based biotechnology company that discovers small-molecule precision medicines against historically 'undruggable' targets in cancer and other serious diseases. Spun out of Scorpion Therapeutics in June 2025 with $177 million in Series A financing, Antares combines proprietary compound libraries, next-generation mass spectrometry, chemical proteomics, and machine-learning-driven computational chemistry to find new binding pockets on proteins - such as transcription factors - that were long considered impossible to drug. Its lead program is slated to enter the clinic in 2026, and the company signed a collaboration worth up to $1.9 billion with Novartis in mid-2026.
Teon Therapeutics, Inc.
Teon Therapeutics is a clinical-stage, privately held biopharmaceutical company in Redwood City, California, developing a focused portfolio of orally administered small-molecule drugs that block immunosuppressive, cancer-promoting signaling pathways in the tumor microenvironment. Its GPCR-directed candidates - TT-702, a first-in-class adenosine A2B receptor antagonist, and TT-816, a first-in-class cannabinoid CB2 receptor antagonist - aim to restore anti-tumor immunity for the roughly 88% of solid-tumor patients who do not benefit from existing immunotherapies. The founding team members were primary inventors of Lexiscan, the only FDA-approved selective adenosine therapeutic.
Allysta Pharmaceuticals, Inc.
Allysta Pharmaceuticals is a private, venture-backed, clinical-stage biopharmaceutical company developing first-in-class therapeutic peptides that target adiponectin signaling. Its lead compound, ALY688, is described as the first adiponectin receptor agonist to enter human testing, with anti-inflammatory, anti-fibrotic, cell-regenerative and metabolic properties. Allysta is advancing ALY688 as an ophthalmic solution for dry eye disease and as an extended/sustained-release formulation for systemic conditions such as NASH/MASH and Duchenne muscular dystrophy.
AmMax Bio., Inc.
AmMax Bio is a clinical-stage biotechnology company in Redwood City, California, developing first-in-class cancer therapeutics built on a CSF1R-targeting antibody platform. Founded in 2020 by pharmaceutical veteran Larry Hsu, PhD, in partnership with Amgen, the company advances a pipeline that spans a monoclonal antibody for tenosynovial giant cell tumor (TGCT), a therapy for colorectal cancer minimal residual disease (in partnership with MD Anderson), and a lead antibody-drug conjugate, AMB-104, for acute myeloid leukemia. AmMax's strategy is to de-risk development by combining clinically validated antibodies with established linker-payload technology.
Vivace Therapeutics, Inc.
Vivace Therapeutics is a San Mateo, California oncology company turning novel Hippo-YAP pathway biology into first-in-class cancer drugs. Its lead small molecule, VT3989, is a first-in-class YAP/TEAD inhibitor that blocks TEAD auto-palmitoylation and has shown durable responses in treatment-resistant mesothelioma and NF2-mutant tumors. Built on a capital-efficient US-China 'virtual biotech' model, the company has raised roughly $105 million across four rounds and is preparing a registrational Phase 3 trial.
Alentis Therapeutics
Alentis Therapeutics is a Swiss clinical-stage biotech built around a single, unusual biological target: Claudin-1 (CLDN1), a tight-junction protein that becomes exposed in both fibrotic tissue and solid tumors. Founded in 2019 on the discovery of physician-scientist Professor Thomas Baumert, the company develops first-in-class monoclonal antibodies and antibody-drug conjugates that bind exposed CLDN1 to reverse organ fibrosis and treat CLDN1-positive cancers. Headquartered in Allschwil near Basel with R&D roots in Strasbourg, Alentis has raised roughly $365 million across rounds, including a $181.4 million Series D in November 2024, and is running clinical trials for its lead antibody lixudebart (ALE.F02) and two ADCs, ALE.P02 and ALE.P03.
Delphia Therapeutics
Delphia Therapeutics is a Cambridge, Massachusetts biotech pioneering a new field of cancer biology it calls activation lethality - the idea that cancer cells with oncogenic mutations live dangerously close to the upper limit of how much pathway activity they can tolerate, and can be pushed past it. Rather than blocking cancer signals like most drugs, Delphia designs targeted activators that overload cancer's stress pathways until the cell dies, aiming for durable benefit and a way around drug resistance. Founded in 2024 by Kevin Marks, Bill Sellers and Mike Dillon, it launched with a $67 million Series A led by GV, Nextech Invest, Polaris Innovation Fund and Alexandria Venture Investments.
Imagine Pharma
Imagine Pharma is a Pittsburgh biotechnology company built around IMG-1, a novel polypeptide its founder discovered in a tea plant from his native Vietnam. From that single molecule the company runs three platforms - Oral Delivery (making injectable biologics swallowable), Therapeutics, and Regenerative Medicine - with first-in-class programs aimed at curing type 1 diabetes, accelerating diabetic wound healing, and making injections obsolete. Alongside its pipeline, Imagine operates an NIH-approved islet isolation center that has completed dozens of clinical islet cell procedures for major U.S. hospital systems.
Salubris Biotherapeutics
Salubris Biotherapeutics (SalubrisBio) is a clinical-stage biotechnology company in Gaithersburg, Maryland that engineers complex biologics for diseases with few good options - chiefly heart failure and cancer. Founded in 2016 as the US arm of China's Shenzhen Salubris Pharmaceuticals, its lead candidate JK07 is an antibody-fusion protein designed to harness the regenerative NRG-1/ErbB4 pathway in failing hearts while dialing out the side effects, and its oncology programs JK08 and JK06 pursue solid tumors through immune engagement and a 5T4-targeted biparatopic antibody-drug conjugate.
Blue Oak Pharmaceuticals
Blue Oak Pharmaceuticals is a Waltham, Massachusetts biotech founded in 2016 to discover the next generation of drugs for brain disorders. Led by neurobiologist and former Eli Lilly and Sunovion executive Tom Large, the company designs novel, CNS-focused 'privileged chemotypes' and pairs them with systems-neurobiology behavioral assays and AI to hunt first-in-class small molecules for schizophrenia, bipolar disorder and treatment-resistant depression. Its work runs through partnerships with phenotypic-screening firm PsychoGenics and AI drug-design company Exscientia.
Keythera Pharmaceuticals Co., Ltd
Keythera (Suzhou) Biopharmaceuticals is a clinical-stage biotech building first-in-class small molecule drugs for cancer and autoimmune disease. Its core edge is ADMS - Affinity Detection by Mass Spectroscopy - an affinity-based high-throughput screening platform that can screen up to 250,000 compounds per day per workstation and fuses bioinformatics, structural chemistry, computer-aided drug design and AI to find and optimize drug candidates faster and at lower risk. Founded in 2020 by industry veteran Dr. Yongqi Deng, the company has built six pipelines, advanced its lead EP4 antagonist KF-0210 into the clinic, and raised roughly RMB 100M in Series A funding.