Velia Therapeutics Closes Operations, Remains Committed to Microprotein Therapeutic Potential
Closure:
Velia Therapeutics, a San Diego-based biotech company focused on microproteins, is winding down its operations approximately two years after securing a $55 million Series funding13.
Background:
Velia Therapeutics was founded by leading researchers in the microprotein field, including Alan Saghatelian, Eric Olson, and Jonathan Weissman, with a mission to discover and develop novel, disease-relevant microproteins25.
Microprotein Research:
The company aimed to catalog the entire human microproteome and identify microproteins with biological activity that could be leveraged as drugs or therapeutic targets5.
Leadership:
Alan Saghatelian, PhD, a co-founder and pioneer in the microprotein field, was named Chief Technology Officer in August 2024 to oversee critical development activities and advance the company’s microprotein-based platform2.
Industry Context:
Despite Velia’s closure, the field of microproteins remains promising, with thousands of short proteins being uncovered that could lead to new biology and drugs5.
Sources:
1. https://endpts.com/microprotein-biotech-velia-backed-by-tcg-and-foresite-to-wind-down/
2. https://www.businesswire.com/news/home/20240812836871/en/Velia-Therapeutics-Names-Alan-Saghatelian-PhD-as-Chief-Technology-Officer
3. https://www.fiercebiotech.com/person/james-waldron
5. https://cen.acs.org/biological-chemistry/proteomics/Exploring-world-microproteins/101/i19