Affomix Corporation, located in New Haven, CT, is developing technology that permits high throughput production and screening of antibodies, and was founded, in part, on research licensed by Affomix that was developed at a large pharmaceutical company. Two Yale scientists are co-founders. Elm Street is funding proof-of-principle experiments in preparation a full Series A preferred round. Elm Street partner Michel Sherman is the interim President, and is joined on the board by Elm Street partner Greg Gardiner and Jon Soderstrom, Executive Director of Yale’s Office of Cooperative Research (the technology transfer office).
BioRelix, Inc., also located in New Haven, CT, is developing new antibiotics based on the breakthrough discovery by Ron Breaker’s lab at Yale of riboswitches, a new class of bacterial targets. As riboswitches are not present in higher animals, the team expects to be able to develop drugs highly effective against bacteria with minimal side effects in patients. Elm Street participated in the initial seed financing in 2006 with co-investors CHL Medical Partners, Novartis BioVentures, and Alexandria Real Estate. In May, the initial investors, including Elm Street, participated in a $26 million Series A preferred stock financing. New investors were New Leaf Ventures and Aisiling Capital. www.biorelix.com
