One Year Later…Onward!
Project Jubilie hits its stride
Julie passed away from GBM one year ago today (see here). The past year was the “Year of Transition” as we worked to ensure that all the nuts-and-bolts of family affairs were completed, and that our children were moving forward within their professional and personal lives. There were weddings, engagements, graduations and all the joyous things that one hopes for in life. Julie is undoubtedly happy. We miss her.
Onward! Investment in Brain Cancer is Having a Moment.
It was also an intense year of activity within Project Jubilie and Mission GBM to build several new companies and investments in the brain cancer space. We wanted to remain in Stealth Mode over the past year because company formation is best done below the radar, especially in a therapeutic area as historically challenged as brain cancer.
But now, it’s time to pull back the curtain in stages. Over the next few months, readers can expect a series of posts outlining the investments that have been made. Suffice it to say, brain cancer investment is having a moment. Over the last 15 months, there has been more aggregate investment in promising new therapies from Tier 1 capital sources than at any previous point that we can identify. The amount of committed capital so far exceeds $200 million (exclusive of a couple of M&A transactions) with all four of our Project Jubilie investment finalists from my time as a Venture Partner at RA Capital Ventures (aka “RAVen”) now funded and operating. And there are a couple more investments that are about to close or are actively being considered. Watch this space.
Suffice it to say, brain cancer investment is having a moment.
What do the funded companies have in common, and how were they able to attract significant capital in an area historically unencumbered by success? Damn good translational science carefully conducted by teams of committed and rigorous researchers who were hand-selected from worldwide institutions, often apart from the “Usual Suspects” in historical Neuro-Oncology. While the approach is no guarantee of ultimate clinical success, in our view it is absolutely the right way to enhance the probability of success, and to convince Tier 1 institutional and strategic investors that the time is right to back such efforts. Let’s be frank, the historical approach was not working over more than four decades.
Fresh Content for the “Brain Cancer Science Talk” and “Investing in Brain Cancer” Series
Mission GBM readers overwhelmingly enjoyed the opportunity to meet the Mission GBM Team and to hear what innovative science they were pursuing to generate new treatment options. Expect more video chats in this regard. In addition, we are planning to post some video interviews in which our leading institutional and strategic investor colleagues talk with Mission GBM about what they look for when contemplating an investment in brain cancer, and why they have chosen to put capital to work now in brain cancer. Check out the “Brain Cancer Science Talk” and “Investing in Brain Cancer” navigation tabs at the top of the website to see previous interviews, and to catch the new content when it is posted.
Some Other Interesting Project Jubilie Initiatives
In addition to the company building and investment activities, we are working on some projects that have been suggested by Mission GBM readers.
Fireside Chat with Mission GBM families – Talking about how they interacted with Mission GBM, and what sort of support and connections were helpful to patients, caregivers and families.
Support for Brain Cancer Advocacy and Patient Groups – While non-profit patient support and advocacy activities are not our focus, we do recognize the importance of such organizations…and we want to help. Fun things ranging from a series of Jubilie Jam live concerts (we do like our live music, and have sponsored many artists over the years) to meet-ups and a particularly intriguing art project are in the planning stages. Please let us hear from you if your organization has ideas or wants to partner. The Mission GBM community is large, active and encompasses many leading worldwide brain cancer centers, researchers and families.