What is Red Arrow Therapeutics?
Q: Could you introduce yourself and your startup?
A: I am Takuya Miyazaki, the CEO of Red Arrow Therapeutics. Our primary focus is on developing pH-sensing drug delivery systems tailored for biologics, including therapeutic proteins.
The journey with this venture commenced in 2021 in Japan in collaboration with Professor Cabral. Our goal is to craft interleukin-based therapeutics, with a specific aim at the global market for intractable cancer.
Currently based in Boston, we are actively involved in fundraising and establishing partnerships with pharmaceutical companies. We are in the midst of preclinical development for our first asset and concurrently expanding our team in the US. Additionally, we are making partnerships with Contract Development and Manufacturing Organizations (CDMOs).
Q: Can you share the origin of your startup idea and how your past experiences influenced it?
A: The inception of the startup idea can be traced back to my background and experiences. As a PhD candidate, I collaborated with Professor Cabral and developed messenger RNA delivery systems and chemotherapy during pregnancy. Drawing from my expertise in polymer-based therapeutics, the concept of Red Arrow Therapeutics began to take shape during this period.
Why MassChallenge?
Q: Why did you decide to apply to MassChallenge?
A: Before MassChallenge, our team took part in the SkyDeck acceleration program at UC Berkeley. A friend from there recommended MassChallenge, highlighting its broader focus on both clinical and preclinical aspects. MassChallenge’s alignment with early-stage startups, particularly those in post-drug discovery and focusing on lead optimization, resonated with our goals.
The scope of MassChallenge seamlessly aligned with our objectives, making it an ideal fit. Beyond that, we were keen on engaging with the vibrant communities in Boston and Dallas. Advisors in these locations emphasized Boston being an ideal environment for cancer therapy and Texas as being ideal with the presence of MD Anderson, the renowned cancer hospital. The goal was to forge connections with key individuals in Boston, making MassChallenge a strategic and well-suited choice for our journey.
MassChallenge Application Process
Q: Can you provide an overview of the MassChallenge application process?
A: In the initial stage, we embarked on the journey by submitting documentation. The application underwent evaluation, with a single document serving as the focal point for meticulous review. Following this, the process advanced to an interview conducted by judges, marking the second screening phase. Eventually, the selection process culminated with the announcement of successful applicants.
Q: What, in your opinion, distinguished your company and led to acceptance into the program?
A: During the application process, I noticed a distinct preference not just for Boston-based biotech startups but also for highly international companies with significant diversity. Our team is a testament to this ethos, representing a rich blend of backgrounds—Japan, Argentina, India, Boston, Indonesia, Albania, Belarus, and Indonesia—creating a truly international composition.
A noteworthy aspect is the predominant presence of women within our team, underscoring our commitment to the empowerment of women in the startup landscape. This emphasis on diversity and inclusivity played a pivotal role in our MassChallenge journey.
MassChallenge Program Experience
Q: After acceptance, can you describe the structure of the program?
A: Participating in the MassChallenge program has been marked by highly inclusive sessions, fostering a collaborative environment. Through engaging with our advisor, a notable capitalist in Texas, I gained invaluable insights into fundraising strategies applicable in both Texas and Boston.
Interactions with diverse biotech startups at various stages proved to be a rich source of learning. These sessions provided practical lessons on crucial aspects such as hiring, fundraising, and effective communication with investors and pharmaceutical partners. The immersive program spans six months, offering a comprehensive and hands-on experience.
Q: Could you elaborate on mentorship within the program?
A: Within MassChallenge, I experienced an open-door policy when it comes to mentors—it’s not limited to a single individual. I engaged in meaningful discussions with various mentors, spanning roles such as a venture capitalist, an IP officer, and lawyers based in Boston.
Currently, we are actively collaborating with one of the lawyers to lay the foundation for a robust intellectual property portfolio. This mentorship network has proven instrumental in navigating complex aspects of our startup journey and is a key element of our experience at MassChallenge.
Q: Did you receive funding directly from MassChallenge?
A: No, MassChallenge does not directly invest in companies with equity. However, they can facilitate introductions to other programs, such as Chancellor X, where the potential for a 200k investment exists if accepted. MassChallenge itself does not take equity from the participating companies.
Program Milestones and Challenges
Q: Can you recall a significant achievement during the program?
A: A significant goal for us during the MassChallenge program was to lay out comprehensive plans for preclinical development and manufacturing, with a primary focus on refining our R&D strategies. This strategic initiative aimed to set the foundation for our continued growth.
Another noteworthy milestone that we achieved was the successful recruitment of a Chief Operating Officer (COO) based in Boston. The identification and selection of this COO candidate took place during our involvement in MassChallenge, underscoring the program’s impact on our team. The COO joined our company in January, marking a fantastic achievement and contributing to the advancement of our strategic objectives.
Q: Were there any challenges faced during the program?
A: A challenge encountered during the program was the limited opportunity to meet venture capitalists in Boston. While we expected to connect with new individuals, including venture capitalists and pharmaceutical professionals in the area, the program’s focus was primarily on fostering communication among founders and members of biotech startups.
Red Arrow TX Current Status and Upcoming Goals
Q: What is the current status of the company and its future plans?
A: The company has successfully raised 1 million USD so far. With these funds, we have accomplished re-optimization and analysis for manufacturing modules. The upcoming steps involve manufacturing with CDMOs, obtaining crucial preclinical data with translational models, and expanding the team to establish a strong presence in the US market.
Final Advice for Potential MassChallenge Participants
Q: What advice do you have for founders considering applying to MassChallenge?
A: I recommend setting clear goals, emphasizing the importance of establishing strategies for both R&D and building a robust IP portfolio. This approach would be fantastic for prospective participants.