Novartis ($NVS) teed up its second discovery deal of the day with an investment and partnership with Perlara PBC to discover and develop treatments for lysosomal storage disorders using CRISPR-engineered animal models. The San Francisco-based startup is a graduate of well-known startup accelerator Y Combinator, which has provided seed funding.
Interestingly, Perlara is structured as a public benefit corporation (PBC), a company structure in California that’s intended to facilitate a devotion to a charitable purpose rather than profit. Perlara has tasked itself with orphan disease drug development. Organizations such as hospitals and colleges are sometimes organized as PBCs.