“There’s a lot of talent coming out of the [Research Triangle] universities, not only PhD scientists, but medical scientists and physicians, as well as people on the business side. Being able to connect to that larger ecosystem is really important,” says Aubrey Smith, Associate Director at Orange Grove Bio, a biopharmaceutical company-creation firm.
Orange Grove partners with university researchers to develop and commercialize transformative therapies. That makes Orange Grove Bio and Eshelman Innovation natural collaborators. In spring of 2025, Orange Grove co-sponsored an Eshelman Innovation summit highlighting opportunities for innovative autoimmune therapies. Following the event, Eshelman Innovation made two strategic grants to Carolina faculty to advance cutting-edge autoimmune research.
“One of the best parts about working with [Eshelman Innovation] is your deep insights into the innovation happening at UNC and understanding the primary investigators who are doing the interesting science,” Smith tells Sumitra Pati, Commercial Strategy Director for the Eshelman Innovation Therapeutics Accelerator, during the latest episode of the video series “North Carolina Innovators You Should Know.” “Understanding our investment thesis — what we’re looking for — has made you really helpful as a partner.”
Unlike traditional venture capital firms, Orange Grove Bio invests in early-stage research but also supports company formation and even operations. Trained in immunology, Smith helps run one of Orange Grove Bio’s portfolio companies, Allonix Therapeutics, a spinout of Emory University that’s developing a first-in-class treatment for inflammatory bowel disease.
“We have medicinal chemists, pharmacologists, toxicologists, regulatory experts, CMC experts — all of these folks who we employ at Orange Grove who are then deployed to each of the sub-companies we form. They work from Day One on those companies … to get the innovation started.”
Through its monthly video series, Eshelman Innovation introduces viewers to individuals like Smith who are working to advance the healthcare innovation ecosystem in North Carolina.
Thank you to the UNC Hussman School of Journalism and Media for filming this interview at the Curtis Media Center.
