selectION Secures $4.1M Series A Financing to Advance Peptide-Based Ion Channel Blockers

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that biotechnology company selectION recently announced the completion of a $4.1 million Series A financing round. The round was jointly participated in by new investor SDL Ventures and existing investor Global Source Ventures. It is reported that this round constitutes the first tranche of selectION’s Series A financing.

Headquartered in San Diego, California, selectION is a biotechnology company focused on the development of peptide ion channel blockers. The company has developed an enhanced phage display platform that enables the design of ion channel blockers with exceptionally high selectivity, allowing them to specifically target and bind to ion channels.

Ion channels perform diverse physiological functions and influence the pathogenesis of various diseases, including autoimmune disorders and cancer. However, due to the high structural similarity among ion channels, it is difficult for blockers to precisely target specific ion channels, and non-selective binding of blockers can lead to the loss of function of small-molecule antibodies.

Leveraging genomics and X-ray crystallography to deeply explore the structural characteristics of ion channels, selectION has developed si-544, a lead molecule that selectively binds to ion channels. si-544 is a highly selective peptide binder designed based on peptide structures found in venomous animals such as scorpions. Using its phage display platform, selectION conducts multi-round screening of peptides from venomous animals, recovers the binding phages, and determines the peptide sequences through sequencing. This technology can be applied to every single ion channel target expressed in cellular systems, thereby reducing non-selective peptide binding and lowering the incidence of off-target effects.

In certain immune-mediated diseases, effector memory T cells (TEM) evade immune surveillance and control, thereby causing tissue damage. Notably, TEM cell function is dependent on the potassium channel Kv1.3; thus, Kv1.3 expression levels can constrain the “aberrant behavior” of these cells, making Kv1.3 a promising molecular target for selective TEM cell targeting. The lead compound si-544 is a highly selective Kv1.3 peptide blocker that disrupts signaling pathways essential for TEM cell proliferation, thereby preventing disease onset.

In addition to its core R&D pipeline, si-544, selectION is also developing LS-04, a candidate specifically targeting pain. This pipeline is currently in the preclinical research stage.

selectION R&D Pipeline (Image source: official website)

Regarding this financing, Dr. Antonius Schuh, CEO of selectION, stated: “With the financial support from SDL Ventures and Global Source Ventures, we will be able to complete the preclinical development of si-544 and treat a variety of TEM cell-mediated diseases, including certain rare autoimmune diseases and oncology indications. selectION will initiate the clinical development program for si-544 by the end of 2020.”

SDL Ventures is an early-stage investment firm primarily focused on sectors such as medicine, energy, and the internet. Since its establishment in 2003, the firm has participated in over 20 investment rounds across 14 companies.

Global Source Ventures is a venture capital firm under Global Sources that primarily provides funding to early-stage life sciences companies, along with related management and consulting services. Currently, the firm mainly invests through a combination of equity, convertible notes, stock options, and warrants.

(Compiled by Wang Chan)