Gencia LLC, a nine-person biotech based in Charlottesville, Va., made an auspicious debut on the biotech stage with a potential $500 million deal with Takeda Pharmaceutical Co. Ltd. to develop a class of small-molecule drugs called mitochondrial agonists of the glucocorticoid receptor, or MAGRs. Gencia said its compounds may offer the benefits of conventional glucocorticoids but with improved potency and safety.