Our venture capital arm Leaps by Bayer has announced investments in four companies this year. In June, Leaps invested in SonoThera Therapeutics, Inc., United States, a biotechnology company developing an ultrasound-mediated nonviral genetic medicine platform. The program aims to achieve redosable delivery of DNA and RNA payloads to tissues and organs without the use of viral vectors, thereby addressing the challenges associated with conventional gene therapies. The company is leveraging its platform to develop genetic medicines for diseases such as Duchenne muscular dystrophy (DMD) and autosomal dominant polycystic kidney disease (ADPKD).
Also in June, Leaps announced further investment in Leaf, Inc., United States, the world’s leading agricultural data company. The company is developing an API-based platform that unifies, cleans, structures and makes available agricultural data from disparate systems including machinery, soil labs, weather stations, satellites and farm management software. The program aims to collate fragmented agricultural data on a standardized basis upon which agricultural companies, insurers, retailers, seed and crop protection companies, and developers can build AI-supported applications. Today, the platform is already processing data from over 20% of global crop acres.
In July, Leaps announced that it had invested in US company Celea Therapeutics, Inc. Celea’s lead program deupirfenidone (LYT-100) is a Phase III-ready active ingredient candidate with the potential to serve as a new standard of care for people living with idiopathic pulmonary fibrosis (IPF) and other fibrotic lung diseases. The treatment has already demonstrated promising efficacy in comparison with the current standard of care. Following the completion of the financing round, Celea announced that treatment of the first patients will now commence as part of a Phase III clinical trial.
Likewise in July, Leaps led the series B financing round for Sabanto, Inc., United States, a company that develops autonomous retrofit technology for row crop farming. By enabling tractors to operate autonomously during planting and other field operations, Sabanto helps growers extend operating hours to virtually any time of day while reducing dependency on seasonal labor constraints.
In addition to Leaps’ new investments, its existing portfolio also reached further significant milestones. In healthcare, the portfolio company Ukko, Inc., United States, began treatment of the first patients in its Phase I/IIa clinical trial evaluating its leading therapeutic program for peanut allergies. Furthermore, Dewpoint, Inc., United States, enrolled the first patients in the Phase Ia/IIa trial of its beta-catenin program for the treatment of advanced solid tumors. In addition, Leaps portfolio company NuCicer, Inc., United States, entered into a commercial partnership with Stricks Ag, a major grower of chickpeas in the United States.