F-Prime

We are thrilled for Ryan Watts and the entire Denali Therapeutics team on the exciting #FDA approval of AVLAYAH™ — a groundbreaking new therapy for Hunter syndrome! 🎉 This marks a major milestone as Denali’s first U.S. regulatory approval and introduces a much-needed treatment option for children living with this rare genetic disorder. Avlayah is an enzyme replacement therapy designed to address the neurologic symptoms of Hunter syndrome (MPS II) — a condition caused by a deficiency in the iduronate-2-sulfatase enzyme, which leads to the harmful buildup of large sugar molecules in the body. Existing therapies for Hunter syndrome are unable to enter the brain and therefore cannot prevent the neurological decline these children face. As the first therapy specifically designed to target the neurologic complications of the disease, this represents a meaningful step forward for families impacted by MPS II. It also marks the first FDA approval of a therapeutic utilizing blood–brain barrier–crossing technology. Congratulations to the entire Denali team on this remarkable achievement and the meaningful progress it brings to the rare disease community. It has truly been an honor to be on this journey with you from the very beginning, and we are incredibly proud to see how far you’ve come. #RareDisease #HunterSyndrome Learn more in the comments 👇 Stephen Knight | Stacie Weninger

Huge congratulations to 吉武益広, and the whole team at J-Pharma for their successful listing on the Tokyo Stock Exchange Growth Market (520A)!🎉 J‑Pharma is a specialized biotech innovator focused on developing first‑in‑class cancer therapeutics through LAT1‑mediated drug discovery. The company is advancing a pipeline of novel LAT1 inhibitors, with a clear strategy to expand its anti‑LAT1 therapies across multiple cancer types—as well as potential autoimmune indications. We’re proud to have supported J‑Pharma as they redefine what’s possible in oncology. Congratulations again on this milestone. Looking forward to what’s ahead! Learn more in the comments! Robert Weisskoff,PhD | Brian Yordy, PhD

Congratulations to Mihriban Tuna and the whole team at Immutrin on raising a £65 million ($87 million) Series A to develop the next generation antibody therapy for ATTR amyloidosis! Immutrin’s lead asset is being developed for the treatment of ATTR cardiomyopathy—a progressive and potentially fatal heart disease. Their approach is designed to harness the body’s own immune mechanisms, enabling the active removal of amyloid deposits from affected tissues, an important step toward addressing a long‑standing unmet need and improving outcomes for patients with amyloidosis. We are proud to back Immutrin as they push the boundaries of what is possible in the field of cardiology. Looking forward to what’s ahead! Learn more in the comments 👇 Nihal Sinha, MB BChir | Anastasiya Sybirna, PhD Frazier Life Sciences | Qiming Venture Partners | SR One Capital Management | Cambridge Innovation Capital | Cambridge Enterprise

We are excited to share that Xaira Therapeutics has introduced X‑Cell, a new virtual cell model designed to more accurately predict the outcomes of biological experiments. Built on large‑scale perturbation data and advanced model architecture, X‑Cell represents a meaningful step toward more predictive, data‑driven approaches in early drug development. This milestone brings the field closer to achieving in‑silico biology at scale, with the potential to accelerate and improve therapeutic discovery. Learn more about the announcement from Marc Tessier-Lavigne, Ci Chu, Bo Wang, and Hetu Kamichetty in the video below. Exciting days ahead for AI‑powered drug discovery! Stephen Knight, MD | Nihal Sinha MB BChir

Huge congratulations to Krishna Polu, L Mary Smith, and the entire R1 Therapeutics team as they launch with an oversubscribed $77.5M Series A financing to advance first-in-class treatment for hyperphosphatemia in patients with chronic kidney disease (CKD)! R1 Therapeutics is a clinical-stage biopharmaceutical company focusing on the development of first-in-class therapies for patients with kidney disease. AP306, their lead program, is a differentiated pan phosphate transporter inhibitor entering Phase 2b clinical development that has the potential to deliver significant serum phosphate reduction with fewer pills in a space long constrained by high pill burden and difficulty achieving target phosphate control. We’re proud to support R1 as they reimagine kidney care and deliver better outcomes for CKD patients facing persistent phosphate‑management challenges. Excited for what’s ahead! Learn more in the comments. Chong Xu, PhD | Connie Li

In honor of International Women’s Day, we celebrate the women across F‑Prime’s global portfolio who are driving innovative solutions to some of the world’s most significant challenges in healthcare and technology. We are also grateful for the incredible women across the F-Prime team whose insight, partnership, and leadership help make this work possible every day. From entrepreneurs and academics to scientists, founders, and beyond, we are proud to partner with the women whose leadership, talent, and vision continue to inspire and empower change around the world.

Congratulations to Pat Duffy, Alex Wilson, David Christopher Johnson, and the whole team at Cyclops on raising $8M! Cyclops is the first stablecoin and crypto infrastructure platform built exclusively for the payments industry. With low and no code solutions, Cyclops is the fastest way for payments companies to bring crypto and stablecoin offerings to market. We are excited to support Cyclops as they improve the way payment service providers use stablecoins and crypto. Excited for what’s ahead! Learn more in the comments. Sachin Patodia | Bala Varadhan | Jingwei Li | Jack Neureuter

On Rare Disease Day, we are reminded why innovation in this space matters so deeply. More than 300 million people worldwide are living with a rare disease. For many, effective treatments still don’t exist. Behind every statistic is a patient, a family, and a community. At F-Prime, we’re proud to partner with founders and teams working at the frontier of rare disease research and drug development. Rare disease innovation demands creativity where traditional approaches fall short, the patience to build, and deep compassion for the patients and families who depend on progress. Today, we recognize our portfolio companies advancing breakthroughs for rare disease communities, and the scientists, clinicians, and entrepreneurs whose persistence continues to redefine what is possible. #RareDiseaseDay Stephen Knight, MD | Ketan Patel, MD | Robert Weisskoff, PhD | Alex Pasteur, PhD | Nihal Sinha, MB BChir | Chong Xu, PhD | Stacie Weninger, PhD | Jessica Alston, PhD | Kevin Chu |Brian Yordy, PhD | Nikhil Ananth |Martin Taylor, PhD |Anastasiya Sybirna, PhD | Raj Basak, PhD | Connie Li | Tashy Rodgers , MB BChir

We’re excited to share that F-Prime has once again been recognized by Endpoints News as a top investor in biotech in 2025!   Innovation in healthcare is driven by bold ideas and strong partnerships, and we’re proud to support visionary companies pushing the boundaries of science and medicine. As we continue into 2026, we remain deeply committed to advancing patient care through thoughtful, strategic investments and close collaboration with founders and partners across the ecosystem.