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Initial Therapeutics Launches with $75M From Apple Tree to Combat “Undruggable” Protein Targets

Initial Therapeutics Launches with $75M From Apple Tree to Combat “Undruggable” Protein Targets

Life sciences-focused venture capital firm Apple Tree Partners (ATP) has established South San Francisco, CA-based biotech startup Initial Therapeutics and infused it with $75 million Series A funding.

With its platform, the company plans to develop new pill drugs that can go after so-called “undruggable” protein targets that promote cancer.

The three-year old company was founded by Spiros Liras, a venture partner at Apple Tree, and three University of California researchers – Kevan Shokat, Jamie Cate and Brian Paegel.

“We started Initial Therapeutics to go after therapeutically important proteins that no one has been able to target successfully. I’m thrilled to see the amazing progress the Initial team has made on that front, with profound implications for the treatment of life-threatening diseases,” Cate said.

With $2.65 billion in committed capital, ATP is also behind the recently launched Replicate Biosciences, a biotech studying self-replicating RNA, and Intergalactic Therapeutics, which aims to create non-viral gene therapies.

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Initial TherapeuticsApple Tree Partners

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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