Two promising New York City biotech startups, GenKardia Inc.and Sidereal Therapeutics, each received $250,000 grants as winners of the 2025 XSeed Award. Now in its fifth year, the annual award honors early-stage companies in New York City led by minority and women entrepreneurs whose work in preclinical drug development has transformative or first-in-class potential.
“The XSeed Award offers the catalytic seed funding that allows an entrepreneur to begin the journey to translate groundbreaking ideas into real solutions, with a focus on minorities and women who are often overlooked in the innovation ecosystem,” said Seema Kumar, CEO of Cure, during the award ceremonies at Cure’s Manhattan headquarters on May 6, 2025.
Cure is an affiliate of Deerfield Management, which founded and funds the award with support from the New York City Economic Development Corporation (NYCEDC).
“It's particularly important right now to highlight great science, great entrepreneurs, and progress toward cures,” said James Flynn, Managing Partner at Deerfield Management, at the event.
He noted that the XSeed Award partnership between Deerfield and EDC has been valuable, adding, “EDC has been one of the strongest forces in bringing biomedical innovation to New York and making it competitive with Boston and the other strong research regions.”
In recognizing the winners,Melissa Román Burch, Chief Operating Officer of NYCEDC, described how EDC expands and diversifies the New York City economy by focusing on emerging industries in innovation sectors, such as the life sciences, deep tech, AI and climate innovation.
“EDC is laser-focused on breaking down barriers and leveling the playing field to ensure that underrepresented groups not only have the opportunity to participate in our economy, but to chart its future pioneering new advancements and new innovations,” said Burch, during the ceremony. “And that is what the XSeed Award is celebrating.”
2025 XSeed Award winners focus on unmet needs in kidney and heart disease
The award-winning team at GenKardia Inc., led by Richard Nkulikiyinka, MB BChir, is engineering novel gene-based therapeutics to combat the underlying drivers of pediatric and adult heart failure, including diastolic dysfunction and metabolic remodeling.
Nkulikiyinka noted that receiving the XSeed Award would support experiments in engineered heart tissues and then with a proof-of-concept studies in a mouse model of heart failure. GenKardia’s evidence suggests that that the targeted pathway is viable, offering a de-risked approach to drug development, he said.
“Along with that, we'll continue to solidify our IP position, which is already pretty good, as well as continuing to work on the ultimate drug product, including the method of delivery,” he said.
Nkulikiyinka is GenKardia’s Chief Development Officer and Chief Medical Officer. He co-founded the company with David C. Zebrowski, PhD, who serves as GenKardia’s Chief Executive Officer and Chief Science Officer.
Sidereal Therapeutics’ winning team, led by founder and CEO Maura Lane Warner, is developing precision therapies to protect kidney function, starting with acute kidney injury (AKI). This common and serious condition currently lacks any FDA-approved treatments. AKI often arises in hospitalized patients undergoing cardiac surgery or receiving nephrotoxic drugs and can accelerate the path to chronic kidney disease and dialysis.
“This award helps us do a lot of things to move forward with our development plan,” Warner explained. The company plans on doing key preclinical experiments like IND-enabling studies in animal models that will yield a strong proof-of-concept dataset, which Warner noted will enable more fundraising to get into Phase 2 clinical trials.
Sidereal’s work has helped de-risk their target to generate a “solid IP position and precision therapeutics to improve the patient experience. There's a lot of patients that we can help out there,” added Warner.
The Sidereal Therapeutics team also included Jonathan Barasch, MD, PhD, Inventor and Scientific Advisor, and Andong Qiu, PhD, Inventor and Chief Science Officer.
“This year's XSeed award winners demonstrate the type of healthcare innovation that is possible when the life sciences are more reflective of New York's diversity," said Manhattan Borough President Mark Levine. “The life science industry is strong and growing in NYC, and I'm proud that Manhattan continues to be at the forefront of equitable healthcare innovation. I’m grateful to Cure and NYCEDC for their support of New York’s life scientists and congratulate Sidereal Therapeutics and GenKardia on their awards.”
“It is critical that we support women and minority-led business endeavors,” said New York Assembly Member Harvey Epstein. “Far too often, women and people of color are excluded from receiving much-deserved funding. Today, we congratulate the teams led by Richard Nkulikiyinka and Maura Warner on winning the XSeed Award.”
More than 50 compete for the 2025 XSeed Award
The 2025 XSeed Award received more than 50 applications, with five finalists pitching to a judging panel of industry leaders, including experts from Syneos Health, Deerfield, BioLabs@NYU, and the Lasker Foundation.
In addition to the two winning teams, the 2025 XSeed Award finalists included:
Adiutrix Therapeutics, which is developing a novel targeted therapy for the lung-stiffening disease known as idiopathic pulmonary fibrosis with the potential to be safer and more potent than current treatments.
Aggregate Biosciences, which is developing precision diagnostics and therapeutics aiming to transform treatment for Alzheimer’s, type 2 diabetes, and other amyloid-related diseases.
Vasocure LLC, which is advancing targeting therapies to prevent arteriovenous graft stenosis for patients on kidney dialysis that may also unlock new treatments for atherosclerosis.
“With continued investments, New York City is poised to expand its role as a leader in life sciences, and I commend Deerfield Management and the New York City Economic Development Corporation for their collaboration that has propelled innovation and strengthened the industry locally,” said New York City Council Member Carlina Rivera (D-02. “I am happy to congratulate the Sidereal Therapeutics team and GenKardia team on winning the XSeed Award, which will help support meaningful research and work to improve healthcare delivery and outcomes. The XSeed Award ensures that the life sciences industry reflects the great diversity of our city and supports women and underrepresented populations to improve lives and move life sciences forward.”
Biotech leaders discuss a future ‘Rich In Possibilities’
The XSeed Award ceremonies also featured a panel of biotech leaders addressing how innovation can continue in the current challenging environment and find ways to bring new solutions to market.
Kumar noted that even amid a complex, challenging and constantly shifting landscape, innovation will persist and that the mission to bring new healthcare solutions to market will continue. Key to driving this innovation ecosystem, she explained, are entrepreneurs who have resilience, courage, and a deep belief in the power of innovation to create meaningful change.
Joining Kumar for the discussion were Michael Banyas, Program Lead for Small Business Innovation Research/ Small Business Technology Transfer at the National Institute on Minority Health and Health Disparities, and two life science entrepreneurs, Rekha Hemrajani, biotech board member and advisor, and Erika Smith, Chief Executive Officer of EpiTET and Chair of the Emerging Company Section and Executive Committee of BIO.
Cure helps XSeed Award winners build an inclusive biotech ecosystem
The XSeed Award provides non-dilutive capital and welcomes winners into Cure’s innovation ecosystem, granting them access to mentors, investors, and a growing network of fellow founders working at the intersection of science and equity.
The 2025 XSeed Award winners will also join a cohort of their fellow awardees. Previous XSeed awardees can serve as mentors and coaches for future cohorts, further strengthening the entrepreneurial community in New York City.
Read more about past XSeed Award winners in Cure’s “Spotlight on XSeed Award Winners.”