Sharjah:CE-Ventures, the corporate venture capital platform of Crescent Enterprises based in Sharjah, has announced its investment in UK-based Oyster Therapeutics. This investment is part of a $60 million Series A financing round for the pharmaceutical company, which was formerly known as Kesmalea Therapeutics.
According to Wam, Oyster Therapeutics is focused on developing next-generation targeted protein degraders, particularly targeting tau-driven neurodegenerative diseases such as Alzheimer's. The recently secured financing will facilitate the advancement of Oyster's lead program, which involves an oral, brain-penetrant degrader targeting the protein tau, moving it towards clinical development.
Abnormal accumulation of tau protein is a hallmark of neurodegenerative diseases known as tauopathies, including Alzheimer's disease. Rob Johnson, CEO of Oyster Therapeutics, expressed enthusiasm about the partnership with CE-Ventures, highlighting the potential of this financing to accelerate the company's lead tau degrader towards clinical trials and advance their SELFTAC platform for central nervous system diseases.
Tushar Singhvi, Deputy CEO and Head of Investments at Crescent Enterprises, emphasized that the investment aligns with CE-Ventures' strategy to expand its life sciences portfolio by supporting innovative technologies addressing significant unmet medical needs. Oyster Therapeutics' proprietary platform focuses on neurodegenerative diseases, aiming to tackle underlying disease biology with new therapeutic approaches.
Dr. Damir Illich, VP of Life Sciences at CE-Ventures, noted the uniqueness of Oyster's SELFTAC® platform, which combines bifunctional degraders with properties supporting brain penetration and oral delivery. This approach provides a differentiated strategy in the field of neurodegenerative disease, backed by scientific expertise and a clear path towards clinical development.
CE-Ventures' life sciences portfolio includes drug discovery, genetic medicine, and targeted therapeutics. The addition of Oyster Therapeutics broadens this portfolio by incorporating neuroscience and targeted protein degradation technologies.