University of Pennsylvania

EpiVario, a biotech company spun out of Penn in 2017, develops novel therapeutics for memory-related psychiatric disorders. The company’s core technology stems from National Institutes of Health (NIH)-funded research, led by Dr. Shelley Berger at UPenn, which discovered the role of a key enzyme, acetyl-CoA synthetase 2 (ACSS2), in memory formation. By targeting ACSS2, EpiVario aims to help patients by reducing the impact of memories associated with addiction and PTSD.

Linnaeus Therapeutics is a clinical-stage biotech company focused on developing smallmolecule oncology therapeutics. Founded by Penn researchers Dr. Todd Ridky and Christopher Natale, PhD, Linnaeus received substantial federal support through NIH’s Small Business Innovation Research program, including $8.3 million from the National Cancer Institute. The company’s lead compound, LNS8801, targets the G protein-coupled estrogen receptor and is being developed as a safe oral therapy for metastatic melanoma and other cancers.

EpiVario has shown significant progress in attracting investment and advancing its research pipeline. The company raised $717,000 in seed funding by early 2021 and has since secured additional NIH grants totaling over $830,000 for research on various substance use disorders. EpiVario’s potential market impact is substantial, given that its target conditions affect millions globally – over 16 million people worldwide suffer from opioid use disorder alone. The company’s innovative approach could disrupt the current treatment landscape for addiction and PTSD, leading to significant healthcare cost savings and improved patient outcomes.

Linnaeus Therapeutics continues to make substantial progress in advancing its oncology therapeutics pipeline while contributing to the regional economy. Linnaeus’s success underscores the economic impact of Penn’s entrepreneurial ecosystem by creating jobs within Philadelphia’s growing biotechnology sector and attracting federal funding that supports innovation.

The University of Pennsylvania’s support for startups like EpiVario and Linnaeus exemplifies its broader economic impact. UPenn’s PCI Ventures office has been instrumental in commercializing university research exemplified by 81 active companies that collectively raised nearly $1 billion in funding. These startups are pivotal in establishing Philadelphia as a hub for biotechnology and high-tech industries.

In fiscal year 2024 alone, Penn’s research investments generated $2.5 billion in total annual output within Philadelphia, supporting 9,400 jobs and $875 million in employee compensation. Across the Commonwealth of Pennsylvania, these investments contributed $2.8 billion in output, supporting 10,800 jobs and $964 million in employee compensation.

By translating federally funded research into tangible societal benefits through its startups, Penn continues to serve as a powerhouse of innovation and a catalyst for regional economic growth.