Navan finished its first day trading at an approximate valuation of $4.7 billion, which is about half of its last private valuation of $9.2 billion.

The startup’s platform is built on several modular systems that clients can purchase individually or as a complete suite.

Although Maxim was convinced that gene therapy could reverse PKD, the biggest hurdle was creating a mechanism to deliver the drugs directly to the diseased cells.

The legendary firm launched a $750 million early-stage fund targeting Series A startups and a $200 million seed fund.