Former BioMarin executives launched Mendra, a Bay Area biotech that raised $82 million to acquire rare‑disease assets and apply AI to accelerate development. The new company will seek undervalued or shelved programs and use computational platforms to modernize clinical and regulatory strategies for rare indications. Mendra’s approach—asset aggregation plus ML/AI-enabled development—reflects a growing alternative to traditional single‑asset startups. Backing from experienced rare‑disease operators and significant seed capital give Mendra capacity to close acquisitions and advance multiple programs in parallel.