Proceeds of the financing will be used to accelerate clinical development of GNSC-001, the company’s lead program in osteoarthritis (OA). GNSC-001 is a genetic medicine – a recombinant adeno-associated vector (AAV) carrying a coding sequence for interleukin-1 receptor antagonist (IL-1Ra), a potent inhibitor of interleukin-1 (IL-1) signaling. IL-1 is considered one of the key mediators involved in the pathogenesis of OA, causing inflammation as well as cartilage destruction. GNSC-001 is designed to offer long-term, sustained inhibition of IL-1 following a single injection into the affected joint.

As part of the financing, Brian Kotzin, M.D., senior vice president and chief medical officer at Nektar Therapeutics, and UF Innovate’s Jackson Streeter, M.D., partner, DeepWork Capital and director, University of Florida Ventures, join Genascence’s board of directors. Dr. Chalberg was elected chairman of the board.

In his role, Dr. Mayfield will mentor select biotech startups from UF Innovate | Accelerate’s 80+ client portfolios at both Sid Martin Biotech and The Hub.

Dr. Mayfield is currently driving business development efforts at EQRx to build a robust pipeline of important new medicines to bring to patients at radically lower prices. Previously, he was director of business development at Voyager Therapeutics where he helped build strategic partnerships to advance Voyager’s gene therapy programs and provide capital to reach corporate objectives.

Prior to that, he served as associate director of business and corporate development at Foundation Medicine where he built global biotech and pharma partnerships to integrate the company’s testing within clinical trials. He also held roles in medical reporting and product development at Foundation Medicine and Illumina.

“The journey from scientist to biotech executive has been one of the most rewarding in my career, and I am thrilled to return to my alma mater to not only help researchers navigate the process of bringing life-saving and world-changing technologies to market but to also help foster their entrepreneurial spirit and talent,” says Dr. Mayfield. “At the end of the day, for me, it’s about helping people.”

Dr. Mayfield earned his Ph.D. in the plant molecular and cellular biology program in the laboratory of Dr. Robert Ferl at University of Florida in 2007, followed by postdoctoral research appointments in breast cancer biology at Washington University in St. Louis and genomics at Duke University’s Institute of Genome Science and Policy. In 2012, he founded Triangle Biotech Tuesday, a biotechnology networking and industry advocacy group in North Carolina’s Research Triangle that continues to grow and hold monthly events.

“In addition to the expertise that John brings from being immersed in the biomedical community for over a decade, his passion for bettering the world and paving the pathway for entrepreneurial success make him a perfect fit for the UF Innovate team,” says Karl R. LaPan, director of UF Innovate | Accelerate. “He will undoubtedly be a huge asset to our mentoring and advising program, and especially to our rapidly-growing regional biotech industry, and the community of patients who benefit from the scientific advances our startups are pioneering.”

UF Innovate | Accelerate provides a place and a program, coaching, and connections for young companies. The goal is to give them the best chance for ongoing success.

The program plays a crucial role in Alachua’s and Gainesville’s innovation landscapes. Resident client and alumni startups of Sid Martin Biotech and The Hub have generated more than $10.7 billion in invested capital, grants and revenue, and created thousands of jobs, most in the local economy.

About UF Innovate | Accelerate

UF Innovate | Accelerate includes Sid Martin Biotech, the globally recognized biotechnology incubator headquartered in Alachua, Florida, at Progress Park, and The Hub, the award-winning mixed-used incubator in the Gainesville, Florida, Innovation District. The incubation programs have been honored with nine national and international awards for incubator excellence and achievements in technology commercialization, funding access, job creation, and technology-based economic development. UF Innovate | Accelerate is dedicated to mentoring and accelerating the growth of innovative early-stage bioscience and biotechnology companies and supporting the economic growth of the North Central Florida region. For more information, visit UF Innovate.

UF Innovate Contact:

UF Innovate | Accelerate
Karl R. LaPan
Director
klapan@ufl.edu
https://innovate.research.ufl.edu/ 

“I am excited to announce the creation of our strategic advisory board and to invite Allen Nissenson and John Cooper as inaugural members,” said Helena Cowley, chief executive officer of Oxidien. “I look forward to working with both John and Allen to continue to build value and position us well for the future.”

UF Innovate | Sid Martin Biotech is pleased to announce a new board of advisors to provide mentorship for client companies at the business incubator, which is celebrating its 25^th anniversary in 2020. The Advisory Board will further Sid Martin Biotech’s mission to facilitate the growth of its biotech companies.

“In our continuing efforts to support our resident clients, we are bringing more local expertise to our Advisory Board,” said Mark Long, director of Sid Martin Biotech. “These volunteers provide advisement, networking and support to our clients, enhancing the ability of Sid Martin to build, grow and support companies who fuel, feed and heal the world around us!”

The six board members include seafood industry expert LeeAnn Applewhite, who cofounded Applied Food Technologies, Inc., a Sid Martin alumni company; incubation expert Jim Bowie, associate director of UF Innovate | The Hub, the second of UF’s business incubators; and entrepreneur John Engels, who cofounded AxoGen, a leading med tech company dedicated to nerve repair that graduated from Sid Martin.

The board also includes mergers and acquisition expert Rupa Lloyd, a shareholder at Gray|Robinson, P.A. with nearly two decades of experience in health law; bioscience attorney Dan O’Korn, a partner with Hutchison PLLC focusing on issues related to pharma and biotech companies; and mechanobiology engineer Chelsey Simmons, who is also a serial entrepreneur.

“These individuals voluntarily give their time and expertise to assist our startups,” said Merrie Shaw, assistant director at Sid Martin Biotech. “Each one brings a different ’specialty‘ that our companies find extremely beneficial.”

The board’s varied experiences and expertise offer a width and breadth of knowledge to meet the individual needs of the nearly 20 biotech companies residing in the 40,000 square feet of labs and offices the world-renown incubator offers.

The Advisory Board, which will meet quarterly, holds its first meeting Thursday, February 27. These individuals will critique pitches, offer advice to CEOs and make networking connections to assist with company growth.

By Sara Dagen, Marketing & Communications Manager, UF Innovate

About UF Innovate | Sid Martin Biotech

UF Innovate | Sid Martin Biotech is a world-recognized leader in bioscience incubation. The incubator program has well-equipped wet labs, specialized equipment, greenhouses, and offices, as well as seminars, pitching opportunities, management training, and introductions to investors and attorneys. Located in Progress Park in Alachua, Sid Martin Biotech is surrounded by 40 other bioscience companies – many that have graduated from its program. Along with its sister facility The Hub, located between the University of Florida and downtown Gainesville, the incubators offer more than 140,000 square feet of space for local startups and growth companies.

Meda contact:

Sara Dagen, (352) 294-099, saradagen@ufl.edu