These are case studies prepared by various partners of the fund. The sole purpose of these case studies is to serve as training material for our fund's investment analysts and others who are new to biotech investing. The case studies are not investment recommendations and the information presented may be inaccurate or out-of-date. We do not offer professional investment advice. We recommend that readers conduct independent due diligence on the stock.

Aravive Case Study

Aravive is a single-asset biotechnology startup spun out of Stanford University. The company is pursuing treatments for platinum-resistant ovarian cancer and other cancers, as well as fibrotic diseases. The technology is a biologic derived from the natural AXL receptor and serves to sequester GAS6 ligand, thereby suppressing AXL/GAS6 signaling. At the time, Aravive was conducting Phase 1b/2 clinical trials to test whether AXL decoy in combination with standard-of-care chemotherapy improved clinical outcomes for platinum-resistant ovarian cancer patients.

Replimune Case Study

Replimune is a biotechnology startup developing oncolytic viruses as immunotherapies. These engineered viruses, derived from herpes simplex virus type 1, are designed to activate local and systemic immune response against cancers. Combinations with checkpoint blockade have demonstrated potent tumor response. The company is managed by those who led the development and commercialization of talimogene laherparepvec (T-Vec), the first oncolytic virus approved by the FDA.

Under development