Blacksmith Medicines merged with Forge Therapeutics in a combination of two San Diego-based biotechnology companies.
The Blacksmith platform has been validated through multiple pharmaceutical partnerships, including deals with Roche, Eli Lilly and Company and Basilea Pharmaceutica, which have the potential to earn more than $800 million in milestone payments plus royalties. The company has earned non-dilutive federal awards of up to $25.3 million to fully fund its infectious disease programs to the end of Phase 1. Blacksmith investors include Evotec A.G., MagnaSci Ventures, MP Healthcare Partners, Alexandria Venture Investments and Eli Lilly.
Blacksmith Medicines works to discover and develop small molecule inhibitors of metal-dependent enzymes.
Forge Therapeutics was founded in 2015 to discover and develop novel classes of antibiotics and it is employing its proprietary chemistry technology to discover novel small molecule inhibitors of bacterial metalloenzymes.
Terms of the transaction were not disclosed.
According to data captured from our LevinPro HC database, there were 141 Biotechnology deals reported in 2022. This compares with 121 Biotechnology transactions in 2021.
