Morningside Ventures today announced the launch of Adiso Therapeutics, a clinical-stage biotechnology company advancing a pipeline of novel therapeutics targeting inflammatory diseases. Morningside has financed the Adiso development plans to date, with plans to further support the company’s rapid growth moving forward.
Adiso is advancing an innovative pipeline of small molecules with novel mechanisms of action and single strain live biotherapeutic products (SS-LBP), pursuing lead indications in ulcerative colitis (UC), and C. difficile infection (CDI). In addition to two Phase 1 programs (UC & CDI) and a Phase 2 program (UC), Adiso is developing a novel inflammasome program in discovery phase which is being initially explored in respiratory inflammation, with multiple future potential therapeutic areas to pursue.
The company is comprised of 25 employees who previously, under the Morningside umbrella, successfully opened three Investigational New Drug (INDs) and have filed numerous patents as well as attaining U.S. FDA Fast Track Designation, ultimately leading to the formation of Adiso. Adiso will operate under the leadership of recently appointed Chief Executive Officer, Scott Megaffin. Mr. Megaffin possesses over 30 years of industry experience and a successful track record in senior leadership roles at Bristol-Myers Squibb, Pfizer, Schering-Plough, Adolor, Onconova, and Churchill. Most recently, Mr. Megaffin served as CEO of Adastra Pharmaceuticals, an oncology clinical-stage development company, where he guided the company to a successful transaction with Cothera Bioscience in October 2021.
“Critical unmet medical needs exist for new therapies that target the underlying biology of inflammatory diseases without causing systemic immunosuppression,” said Jason Dinges, Morningside Technology Advisory and Adiso Board Member. “Adiso is sprinting out of the gate with three very promising clinical programs for the treatment of ulcerative colitis and the prevention of recurrent CDI. We believe that under Scott’s leadership and with a highly talented team of drug developers, Adiso is poised for success.”
“At Adiso we are tackling inflammatory diseases with diverse mechanisms and a bold approach. We envision a new reality for patients, leveraging known advances of inflammatory therapeutics which promise to recalibrate the immune system of the host, so that the underlying inflammatory disease is neither overactivated nor does the patient becoming immunocompromised,” said Scott Megaffin, CEO of Adiso Therapeutics. “I’m honored to be leading such an exceptional, world-class, and dedicated team at Adiso in the development of these highly unique therapies designed to precisely halt the dysregulation generated by inflammation.”
Mustafa A. Noor, M.D., FACP has also joined the Adiso leadership team. Dr. Noor assumes the position of Chief Medical Officer, bringing more than 20 years of drug development expertise across multiple therapeutic areas in multiple early- to mid-stage and global companies including AMAG Pharmaceuticals, Akcea Therapeutics, Ipsen, Pfizer, Glaxo-Smith Kline, and Bristol Myers Squibb.
“Inflammatory dysregulation is central to many serious diseases and the damage it causes wreaks havoc for the health and well-being of patients. Current treatment options are inadequate to stop disease progression and improve quality of life in a safe and meaningful way,” said Dr. Noor, CMO of Adiso Therapeutics. “The unique attributes of the Adiso portfolio for the treatment of inflammatory disorders have the potential to ultimately become important novel medicines for patients. Building on the successful preclinical and early clinical studies to date, I look forward to leading the next stages of clinical development of our portfolio with an experienced team of clinical developers.”