Over $100 million raised to progress its pipeline of next-generation oncolytic immunotherapies
Company has progressed from seed financing to IPO in three years
Forbion, a leading European life science venture capital firm, today announces that its portfolio company Replimune Group, Inc. (‘Replimune’) has successful completed an initial public offering (IPO) on NASDAQ, raising over $100 million for the development of its next-generation oncolytic immunotherapies. Replimune’s stock has started trading under the ticker symbol “REPL”.
Forbion has been a longstanding supporter of Replimune’s growth and development having invested seed capital three years ago at the time of the Company’s formation. Forbion identified the potential of Replimune following its investment in BioVex Inc. and knowledge and experience of oncolytic immunotherapy. BioVex was sold to Amgen in 2011 for up to US$1 billion which delivered a significant return for Forbion. Replimune’s co-founder and current Executive Chairman Philip Astley-Sparke was the President and CEO of BioVex Inc. and is now a Venture Partner at Forbion.
Replimune is developing oncolytic immunotherapies intended to improve the direct cancer-killing effects of selective virus replication and the potency of the immune response to the tumor antigens released. The Company’s Immulytic™ technology platform is designed to maximize systemic immune activation, in particular to tumor neoantigens, through robust viral mediated immunogenic tumor cell killing and the delivery of optimal combinations of immune activating proteins to the tumor and draining lymph nodes. The approach is expected to be highly synergistic with immune checkpoint blockade and other approaches to cancer treatment.
Commenting, Sander Slootweg, Managing Partner, said:
“We are proud to have been integrally involved in Replimune’s creation and to have nurtured its growth and development over the last three years. This successful IPO and fundraising only three years after we invested seed capital recognizes the potential of the company, its technology and pipeline and will help progress the development of its next generation oncolytic immunotherapies.”
Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands and Germany. Forbion invests in life sciences companies that are active in the pharmaceutical, as well as the medical device space. Forbion’s investment team has built an impressive performance track record since the late nineties with successful investments in over 50 companies. Forbion manages well over EUR 1 billion across ten funds. Its investors include the EIF, through its European Recovery Programme (ERP), LfA and Dutch Venture Initiative (DVI) facilities and the KFW through the ERP – Venture Capital Fondsfinanzierung facility. Forbion also operates a joint venture with BGV, the manager of seed and early stage funds focused on Benelux and Germany. www.forbion.com
P: +31 (0) 35 699 30 00
Instinctif Partners (on behalf of Forbion)
Ashley Tapp/Ambrose Fullalove
P: +44 (0) 20 7457 2020