Mendra Emerges with $82M to “Modernize” and Roll Up Shelved Rare Disease Assets

SAN FRANCISCO —January 21, 2026— Mendra, a Bay Area biotech startup led by a team of BioMarin veterans, launched today with an $82 million Series A financing. The round was co-led by heavyweights OrbiMed, 8VC, and 5AM Ventures, with participation from Lux Capital and Wing VC. The company plans to act as a specialized “aggregator” for rare disease medicines, acquiring high-potential assets that have been stalled or deprioritized by larger pharmaceutical firms.

A “Contrarian” Approach to Orphan Drug Commercialization

Mendra’s CEO, Joshua Grass, a 15-year BioMarin veteran, describes the company as a “contrarian” bet against a venture capital landscape that currently favors early M&A exits. Grass argues that the true value of orphan drugs is realized at commercialization—a phase many startups are currently unequipped to fund.

• The Strategy: Acquire a diversified suite of assets ranging from post-proof-of-concept to registrational stages.

• The Goal: Build a sustainable commercial infrastructure that can support multiple rare disease products simultaneously, spreading out the high costs associated with orphan drug launches.

• The Pipeline: While Mendra currently has no disclosed drugs, Grass aims to bring the first asset in-house within the next 12 months.

Applying the “BioMarin Playbook” 2.0

Mendra’s leadership team is deeply rooted in the history of the rare disease sector but is intentionally avoiding the traditional “heavy” R&D models of the past.

• Asset Sourcing: The team will search globally, from academic compassionate-use programs to “shelved” candidates sitting in big pharma portfolios.

• Lean Infrastructure: Unlike BioMarin, Mendra will not build internal R&D or manufacturing. Instead, it will leverage the modern CDMO ecosystem to remain agile.

• AI-Powered Patient Finding: Mendra plans to use advanced data tools to solve the industry’s hardest problem: finding patients with ultra-rare disorders.

Leadership with “Rare Disease Chops”

The C-suite is built for late-stage execution and commercialization. Alongside CEO Joshua Grass (who previously led Escient Pharmaceuticals to a $750M sale), the team includes Jeff Ajer as Chief Commercial Officer (former BioMarin CCO) and Lalarukh Haris Shaikh as Chief Technology Officer (formerly of Palantir). This combination of regulatory experience and data-driven technology is designed to give Mendra a “modern” edge in a sector traditionally defined by slow, manual patient identification.