Jnana Therapeutics Raises Funding, Closes Deal with Roche

Boston biotech Jnana Therapeutics has raised $107 million in a Series C financing led by Bain Capital Life Sciences. The proceeds from the funding will be used to progress the company’s lead program in phenylketonuria (PKU), a rare genetic metabolic disease, through a clinical proof-of-concept (POC) study, and to advance additional wholly owned, potential first-in-class medicines in immune-mediated diseases and cancer.

In addition, Jnana announced that it has entered into a second collaboration and license agreement with Roche for the discovery of small molecule drugs for the treatment of cancer, immune-mediated and neurological diseases. The collaboration covers multiple targets from a diverse range of target classes to address diseases with high unmet need. Under the terms of the agreement, Jnana will receive an upfront payment of $50 million, significant near-term milestone payments, and additional potential future payments that could exceed $2 billion, as well as tiered royalties. Jnana will conduct discovery and preclinical activities against multiple cancer, immune-mediated and neurological disease targets, and Roche will be responsible for development and commercialization of any resulting products.

“We are thrilled to welcome Bain Capital Life Sciences to our strong syndicate of leading life science investors who share our vision for the potential of our platform and lead program in PKU,” said Joanne Kotz, Ph.D., co-founder and CEO of Jnana Therapeutics. “With their support and the initiation of our second collaboration with Roche, we are well positioned to deliver on our aim of developing breakthrough medicines for patients.”

Jnana also announced the dosing of the first healthy volunteers in a Phase 1 study evaluating JNT-517, its clinical candidate for the potential treatment of PKU. After the Phase 1a portion in healthy volunteers, JNT-517 will be evaluated in a Phase 1b study in individuals with PKU, with the potential to demonstrate clinical POC. In addition, the company announced that JNT-517 has been granted Rare Pediatric Disease Designation by the US Food and Drug Administration.

“With its unique mechanism of action of blocking phenylalanine reabsorption in the kidney, JNT-517 has the potential to be the first therapy for all individuals living with PKU, regardless of genetic background or age,” said Joel C. Barrish, Ph.D., co-founder, President and CSO of Jnana Therapeutics. “The Rare Pediatric Disease Designation by the FDA underscores the promise of JNT-517 to accelerate innovation for these patients with limited treatment options.”

(Source: Jnana Therapeutics Website, 15 November, 2022)