Aditum Bio Announces Formation of Ancora Bio, to Focus on Treatment-Resistant Depression
Ancora Bio is the fifth company formed by Aditum Bio
OAKLAND, Calif., June 30, 2021 /PRNewswire/ -- Aditum Bio, the biotech investment firm co-founded in 2019 by former Novartis CEO Joe Jimenez and former President of the Novartis Institutes for BioMedical Research (NIBR) Dr. Mark Fishman, today announced the formation of Ancora Bio, a portfolio company developing a new therapy for treatment-resistant depression. Ancora Bio is being formed following the successful in-licensing of a selective vasopressin 1b receptor (V1b) antagonist (ANC-501) from Taisho Pharmaceutical Co., Ltd.
"Depression is unfortunately one of the fastest growing mental health challenges, exacerbated by the past 12 months of isolation during the Covid-19 pandemic," said Joe Jimenez, Co-Founder and Managing Director of Aditum Bio. Dr. Mark Fishman, Co-Founder and Chair of the Medical and Scientific Advisory Boards added, "ANC-501 has been shown to impact a definable subset of patients with treatment-resistant depression. We look forward to advancing this important therapy into the clinic to help these patients."
Ancora Bio is the fifth company launched by Aditum Bio, whose mission is to give large patient populations access to medicines which otherwise may not be developed. To speed these drugs to market, Aditum Bio fosters an incubator model, focusing on the translational phase of drug development. The "spin out" model enables a nimble, start-up culture with its own dedicated team of managers.
Aditum Bio has partnered with TrialSpark, a technology driven research company that can complete clinical trials faster and at a lower cost than traditional trials. TrialSpark has developed a digital platform which enables faster patient recruitment, together with common data entry and analysis across sites which leads to speed, quality, and standardization.
About Aditum Bio
For more information, please visit www.aditumbio.com.
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SOURCE Aditum Bio