Plus another Eli Lilly acquisition moves to Arsenal Yards
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64 Pleasant Street: Watertown Square Lab & Flex Lease Options
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Corner Therapeutics spinout ai3Bio launches to target autoimmune diseases.
ai3Bio, headquartered at 99 Coolidge Ave, as well as in Pittsburgh, launched with $48 million with a mission of treating autoimmune diseases. The company is the result of a merger of Corner Therapeutics’ autoimmune disease program and Pittsburgh-based Novasenta, which was previously focused on developing antibodies for inflammatory disease and heme cancers. According to the launch release, the company aims to develop therapies to treat autoimmune diseases (an “immune reset” in their words) by eliminating Th17 cells, one of the cells that mediates autoimmune diseases. The company is building on two platforms inherited from their parent companies: a CD161 targeting antibody program from Novasenta, and an LNP/mRNA targeted cell death platform inherited from Corner Therapeutics. The companies share leadership, with Dr. Steven Altschuler serving as CEO for both companies, and Nick Seaver serving as CFO/CBO. They also share scientific leadership, with Harvard Medical School Professor Dr. Jonathan Kagan serving on both Scientific Advisory Boards. While they share leadership, the companies will continue to operate independently, according to an ai3Bio spokesperson.
Read more: BioPharmaDive has coverage of the launch
23 Elm Street offers 66,634 SF of cutting -edge, fully furnished spec lab space, engineered to support scientific innovations and empower research with best-in-class facilities.
Matchpoint Therapeutics Raises $150 million Series B to bring covalent autoimmune and inflammatory drug into clinical trials.
Matchpoint Therapeutics, headquartered at 99 Coolidge Ave, announced that they had raised $150 million in a Series B funding round, co-led by Nextech Invest and Norwest. Matchpoint’s main focus is on developing small molecule therapeutics that form covalent bonds with the target proteins, essentially irreversibly binding to their target to block its activity. According to Matchpoint, covalent therapeutics have the potential to increase the number of disease targets and the potency and selectivity of their therapy compared to traditional reversible inhibitors. The proceeds will be used to support the clinical development of their lead asset MPT-062 for undisclosed autoimmune and inflammatory diseases, which is expected to begin in 2027. It will also be used to advance their broader pipeline. Matchpoint is also advancing a separate program funded by Novartis.
Read More: FierceBiotech has coverage of the raise
Foghorn Therapeutics and Enanta Pharmaceuticals announce layoffs
While 2026 has been a net positive year for Watertown’s biotech sector, two rounds of layoffs were announced in the last two weeks:
Foghorn Therapeutics: Based at 99 Coolidge Ave, Foghorn announced it was cutting about 40% of its workforce after it and partner Lilly decided not to advance FHD-909, a SMARCA2 inhibitor, past Phase 1 dose escalation, and also dropped the related SMARCA2 degrader program. The company says the restructuring extends its cash runway into the second half of 2029. Foghorn will now focus on its wholly owned programs in oncology and inflammation and immunology. More from Fierce Biotech.
Enanta Pharmaceuticals: Enanta laid off 37 employees across all departments in what it described as “right-sizing” ahead of its fiscal year end. Enanta is currently in the middle of pivoting from an infectious disease focus to an inflammation and immunology focus. The company had about 120 full-time employees as of Sept. 30, 2025, per its annual report, and had $211.5 million on hand at the end of June. Enanta expects a Phase 1 readout for its oral KIT inhibitor EDP-978 by the end of the year. More from Fierce Biotech.
As we discussed in our Mid-year review, while fundraising has recovered, and more companies are moving to the city, employment is still lagging behind these metrics. If you’re looking to hire, Foghorn has put together a resume book to help those let go.
Quick Hits
Leasing
Merida Biosciences is moving to Arsenal Yards, according to the Banker & Tradesman. Merida is developing biologics for autoimmune and allergic diseases, with their lead program in Phase 1 development for Graves’ disease and thyroid eye disease. Merida was acquired by Eli Lilly in August for $2.875 billion. At Arsenal Yards, they will join fellow Lilly subsidiary Orna Therapeutics, which was acquired in February for $2.4 billion.
Science/Clinical News
Prime Medicine, which operates a lab in Watertown, announced the first patient was dosed in their Phase 1/2 trial of PM577a for H1069Q-mutated Wilson Disease.
Dyno Therapeutics presented data on a new AAV capsid targeting muscle tissue at WMS.
Century Therapeutics presented nonclinical data for CNTY-813, a cell therapy in development for Type 1 diabetes at EASD.
Business News
ChemPartner received a Governor’s Citation from Governor Healey on the one year anniversary of their Boston Center of Excellence, which is located on Arsenal Street .
People
Remix Therapeutics appointed Michael Landsittel to their Board of Directors.
Averna Therapeutics announced Christian Dombrowski as their CTO.
K2B Therapeutics appointed Anthony M. Manning, PhD to their Board of Directors.
In conjunction with their $150 million Series B, Matchpoint appointed Kanishka Pothula, Ph.D. and Brian Matesic, M.D. to their Board of Directors.
That’s all for this week!
