Enlila buys majority stake in US biotech Crescenta for $24M

What's the deal? EnlilaDealroom has a profile for this one. Try Dealroom →, the health technology company backed by İş Girişim SermayesiDealroom has a profile for this one. Try Dealroom → — an affiliate of Türkiye's İş Bankası Group — has acquired a majority stake in US-based biotech startup Crescenta BiosciencesDealroom has a profile for this one. Try Dealroom →. Enlila took a 50.1% stake for $24 million, becoming the company's main shareholder.

What do they do? Enlila develops new treatments for chronic conditions, primarily obesity and age-related diseases. Crescenta Biosciences works on next-generation drugs for chronic diseases, inflammation, and cancer, focusing on the discovery and development of small-molecule drug candidates.

What's the endgame? Enlila will provide financial and strategic support to Crescenta's drug discovery platforms and clinical research. The deal is expected to speed Crescenta's candidates into clinical stages and support their route to the global market.

Who's involved? Harvard University holds a 10% stake in Enlila, which develops therapeutics under research and licensing agreements with the Harvard T.H. Chan School of Public Health. Crescenta was founded by Princeton-rooted Turkish academic and entrepreneur Dr Emre Koyuncu and small-molecule discovery expert Dr Hahn Kim, with Harvard's Prof Dr Gökhan Hotamışlıgil chairing its scientific board.

The signal: With the acquisition, İş Girişim Sermayesi and Enlila aim to connect Türkiye's academic knowledge and capital with the US biotech ecosystem, developing and scaling next-generation treatments globally.

Read more: Webrazzi