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Investment Committee Memo Drafter

Paste a pitch deck summary, founder email, or company write-up. Claude returns a structured IC memo in Tenmile's voice — thesis fit, science, team, terms, risks, recommendation.

Source material

Heliotrope Bio (Sydney) — preclinical biotech developing a small-molecule inhibitor of TNIK for treatment-resistant colorectal cancer. Founded 2024 by Dr Anna Petros (ex-WEHI) and Dr Sam O'Donnell (ex-Bristol Myers Squibb). 8 FTE. Closed seed of A$3.2m in Q4 2025 (Brandon Capital + angels) at A$11m post.

Pipeline: HEL-101 (lead), small-molecule TNIK inhibitor; in vitro and patient-derived organoid data showing ~70% growth inhibition vs vehicle in 3 of 4 KRAS-mutant lines. IND-enabling tox studies underway, expecting CTN/IND-equivalent submission Q4 2026 with first-in-human dose-escalation in Q2 2027 at Peter Mac and Royal Melbourne. Patent filed (PCT) on the chemotype.

Market: chemo-refractory mCRC ~50k US patients per year; current SoC (regorafenib, TAS-102) yields median OS ~6 months. Competitive set includes Replimune (oncolytic), Verastem (FAKi), one undisclosed Chinese TNIK programme.

Asks: A$8m Series A to fund IND, FIH and 12 months of operations. Pre-money A$22m. Reserved director seat.

Founders flagged risks: clinical translation from organoid models, capital intensity post-Series A, competing TNIK programme in China.

161 words

Draft IC memo

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