Empirico Raises $17M, Inks 3-Year Antisense Collaboration with Ionis
Xconomy San Diego —Empirico, a biotech that has developed tools to analyze genomics data and use those insights to identify potential therapeutic targets, has signed a collaboration deal with antisense drug developer Ionis Pharmaceuticals that includes a $10 million equity investment.
The 14-person startup, founded in 2017, has developed technology that it says uses big data sets, human genetic data, and advanced algorithms to find potential targets for drugs. Empirico, which is headquartered in San Diego, also has laboratories in Madison, WI. Carlsbad, CA-based Ionis will work with Empirico to leverage its software, which Empirico calls its Precision Insights Platform, for work related to existing Ionis programs, such as target validation, indication and biomarker selection, and patient stratification.
Under the terms of the agreement, the startup and Ionis (NASDAQ: IONS) agreed to work together for three years to select up to 10 targets amenable to the RNA medicine company’s technology. Ionis would be responsible for preclinical and clinical development activity for any targets it decides to advance…