35Pharma

The company's scientific approach centers on targeting the transforming growth factor-beta (TGF-beta) superfamily of proteins, specifically Activins and Growth Differentiation Factors (GDFs). These proteins are recognized as causal drivers for various conditions, including pulmonary hypertension and cardiometabolic diseases. 35Pharma employs advanced protein engineering, including structure-based AI-assisted design, to develop 'ligand traps'. This technology allows for the creation of multi-specific and highly selective traps that can neutralize multiple pathological Activin and GDF ligands simultaneously, which is crucial due to the redundant and compensatory nature of these growth factors. This method is designed to overcome the limitations of older generation traps that lacked selectivity and potency.

Ilia A. Tikhomirov, the Chief Executive Officer, is a serial biotech entrepreneur who previously founded Forbius, which was acquired by Bristol Myers Squibb in 2020. The leadership team includes experienced drug developers and biotech entrepreneurs with a track record of advancing complex biologics from discovery to clinical validation. Many members of the team, including the CSO Maureen O'Connor and VP of Preclinical Development Gilles Tremblay, previously worked at Forbius.

The company's pipeline includes two primary clinical-stage assets. HS135 is being developed for the treatment of pulmonary hypertension. The second, HS235, is a candidate for treating cardiometabolic diseases and obesity, including heart failure with preserved ejection fraction (HFpEF). In early 2024, 35Pharma received clearance from Health Canada to initiate a Phase 1 clinical trial for HS135 in healthy volunteers. The company's business model is centered on advancing these proprietary drug candidates through clinical trials to demonstrate safety and efficacy. These therapies are designed for infrequent subcutaneous injection. Revenue generation will likely depend on future partnerships, licensing agreements, or the eventual commercialization of its products upon regulatory approval.

35Pharma is a venture-backed private company and has successfully raised significant capital to fund its operations. It has completed multiple financing rounds, including a Series C financing of $53 million in late 2024, led by Frazier Life Sciences, with participation from investors such as Vivo Capital, Janus Henderson Investors, and Deep Track Capital. The company has received recognition for its work, including being named “Promising Biotech Company of the Year” at BIOTECanada's 2025 Gold Leaf Awards.