Tag Archives: Biotechnology

Centessa Pharmaceuticals Launches with $250 Million Series A Financing and Unveils a New Kind of Pharmaceutical R&D Model

Merger of 10 Privately Held Biotech Companies with Highly Validated Programs Led by Industry Leading Teams to Operate Under Centessa Umbrella

Company Founded by Medicxi with Financing Led by General Atlantic, and Co-led by Vida Ventures and Janus Henderson Investors

Saurabh Saha, M.D., Ph.D., Former Senior Vice President, R&D, and Global Head of Translational Medicine at Bristol Myers Squibb Appointed as Chief Executive Officer

Moncef Slaoui, Ph.D., Former Chief Scientific Advisor of Operation Warp Speed, Former Chairman of R&D at GlaxoSmithKline, Partner at Medicxi, Appointed as Chief Scientific Officer, Advisor

February 16, 2021

Centessa Pharmaceuticals (“Centessa”) launched today as a novel asset-centric pharmaceutical company designed and built to advance a portfolio of highly validated programs. Our asset-centric R&D model applied at scale has assembled assets led by specialized teams committed to accelerate development and reshape the traditional drug development process. The company was founded by Medicxi and raised $250 million in an oversubscribed Series A financing led by General Atlantic and co-led by Vida Ventures and Janus Henderson Investors. Additional blue-chip investors participated in the financing, including Boxer Capital, Cormorant Asset Management, T. Rowe Price Associates, Inc., Venrock Healthcare Capital Partners, Wellington Management Company, BVF Partners L.P., EcoR1 Capital, Franklin Templeton, Logos Capital, Samsara BioCapital, LifeSci Venture Partners and an undisclosed U.S.-based, healthcare-focused fund.

In conjunction with its launch, Centessa has completed the merger of 10 private biotech companies (“Centessa Subsidiaries”) that will each continue to develop its assets with oversight from the Centessa management team. Each Centessa Subsidiary team is asset-focused, in that it prosecutes a single program or biological pathway, with leadership provided by subject matter experts who are given a high degree of autonomy to advance each program. With a singular focus on advancing superior science, combined with proprietary capabilities, including structure-based drug discovery and design, the subsidiary teams enable Centessa to potentially develop and deliver impactful medicines to patients.

“The vision of Centessa is to build a pharmaceutical company with a unique operational framework that aims to reduce some of the key R&D inefficiencies that classical pharmaceutical companies face because of structural constraints,” said Francesco De Rubertis, Ph.D., co-founder and Partner at Medicxi and Chairman of the Centessa Pharmaceuticals Board of Directors. “Our operations will be driven by an asset-centric approach, whereby each Centessa Subsidiary is solely focused on the execution of its programs with oversight from the highly experienced Centessa management team. The ambition of applying asset centricity at scale is to be able to deliver life altering medicines to patients with improved efficiency by boosting R&D productivity.”

Our Approach

Centessa brings together 10 companies from Medicxi’s portfolio with 15 high conviction programs led by experienced teams. Each Centessa Subsidiary is led by industry leaders and subject matter experts with deep experience directly related to key biological pathways that underpin the programs being advanced. These entrepreneurs who have catalyzed the creation of subsidiary companies will continue to advance novel science within the Centessa enterprise.

The Centessa Subsidiaries are comprised of ApcinteX, Capella BioScience, Janpix, LockBody, Morphogen-IX, Orexia Therapeutics, Palladio Biosciences, PearlRiver Bio, Pega-One, and Z Factor. The current Centessa Pharmaceuticals portfolio consists of four clinical stage programs, including two that are in late-stage clinical development, and more than 10 additional programs spanning diseases with high unmet need across oncology, hematology, immunology, inflammation, neuroscience and rare diseases.

“With this first-of-its kind model, we are bringing together programs with robust genetic and biological validation under one new pharmaceutical company that provides centralized resources to enable and empower asset-focused teams to advance highly impactful programs for patients,” said Saurabh Saha, M.D., Ph.D., Centessa’s Chief Executive Officer. “This approach encourages an environment where scientific teams are incentivized to maintain an unwavering focus on advancing medicines to key go/no-go inflection points based on data-driven decisions.”

Centessa will have the flexibility to deploy capital by adhering to a “follow-the-data” philosophy and will support each Centessa Subsidiary with centralized capabilities that enable advancement of its respective programs. These include manufacturing, regulatory and operational support to enable and expedite scientific prosecution of programs by subsidiary teams. Each team is uniquely incentivized to expeditiously interrogate key scientific hypotheses.

Moncef Slaoui, Ph.D, Chief Scientific Officer, Advisor of Centessa added, “In creating Centessa, we have strategically assembled our subsidiary portfolio to include programs with strong biological validation, mechanistic diversification, and teams with proprietary capabilities and insights. This high quality portfolio aims to deliver enhanced diversification, reduced risk and asymmetric upside with a view to withstanding the inherent low probability of success associated with drug development.”

Meet the Team

The Centessa Pharmaceuticals management team consists of biotech and pharmaceutical industry leaders who oversee decisions related to capital allocation, development plans and strategic transactions in partnership with the Centessa Subsidiaries.

Saurabh Saha, M.D., Ph.D., former Senior Vice President, R&D, and Global Head of translational medicine at Bristol Myers Squibb has been appointed as the company’s Chief Executive Officer and a member of the Board of Directors. In addition, Moncef Slaoui, Ph.D., former Chief Scientific Advisor of Operation Warp Speed, former Chairman of R&D at GlaxoSmithKline, and Partner at Medicxi, has been appointed as Chief Scientific Officer, Advisor.

The Centessa Board of Directors includes Francesco De Rubertis, Ph.D., Medicxi, who will serve as the company’s Chairman; Aaron Kantoff, Medicxi; Brett Zbar, M.D., General Atlantic; and Arjun Goyal, M.D., M.Phil., Vida Ventures.

“We believe Centessa represents a unique opportunity in our sector,” said Brett Zbar, M.D., Managing Director and Global Head of life sciences at General Atlantic. “The high-quality science and entrepreneurial drive within each of the Centessa Subsidiaries, combined with this deeply experienced leadership team, has the potential to bring important medicines to patients with speed and efficiency.”

“Centessa’s bold vision and unique operating model are supported by compelling clinical programs, strong data and a stellar team,” said Arjun Goyal, M.D., M.Phil., Co-Founder and Managing Director at Vida Ventures. “We believe Centessa’s approach can ultimately lead to impactful medicines that will benefit patients globally.”

ABOUT THE CENTESSA SUBSIDIARIES

ApcinteX

ApcinteX is developing SerpinPC, a specific inhibitor of the anticoagulant protease activated protein C (APC), for the treatment for hemophilia A and hemophilia B, with or without inhibitors.

Capella BioScience

Capella Bioscience is developing CBS001, a neutralizing therapeutic monoclonal antibody to the inflammatory membrane form of LIGHT (known as TNFSF14), for the treatment of idiopathic pulmonary fibrosis. Capella BioScience is also developing CBS004, a therapeutic monoclonal antibody to blood dendritic cell antigen 2 (BDCA2), for the treatment of lupus erythematosus (systemic and cutaneous) and systemic sclerosis.

Janpix

Janpix is developing a novel class of selective dual-STAT3/5 small molecule monovalent degraders for the treatment of various hematological malignancies, including leukemias and lymphomas.

LockBody

LockBody is pioneering a platform technology to develop LockBody CD47 (LB1) and LockBody CD3 (LB2) for optimal targeting of solid tumors by the innate immune system.

Morphogen-IX

Morphogen-IX is developing MGX292, a protein-engineered variant of human bone morphogenetic protein-9 (BMP9), for the treatment of pulmonary arterial hypertension.

Orexia Therapeutics

Orexia Therapeutics is developing oral and intranasal orexin receptor agonists using structure-based drug design approaches. These agonists target the treatment of narcolepsy type 1, where they have the potential to directly address the underlying pathology of orexin neuron loss, as well as other neurological disorders characterized by excessive daytime sleepiness.

Palladio

Palladio is developing lixivaptan, an oral non-peptide, new chemical agent that works by selectively suppressing the activity of the hormone vasopressin at the V2 receptor, as a treatment for autosomal dominant polycystic kidney disease with the goal of slowing the progression of kidney function decline and avoiding the liver safety issues associated with tolvaptan.

PearlRiver Bio

PearlRiver Bio is developing ​potent and selective oral exon20 insertion mutation inhibitors intended to have ​minimal activity on wild-type EGFR and optimal pharmacokinetic properties, ​for the treatment of EGFR exon 20 insertion (with potential to target and treat Her2 exon 20 insertions) non-small cell lung cancer (NSCLC). PearlRiver Bio is also developing oral inhibitors targeting C797S-mutant EGFR and undisclosed next generation EGFR inhibitors for NSCLC.

PegaOne

PegaOne is developing imgatuzumab, a humanized, non-fucosylated, anti-EGFR monoclonal antibody for the treatment of cutaneous squamous cell carcinoma and other solid tumor indications.

Z Factor

Z Factor is developing ZF874, a small molecule chemical chaperone intended to rescue folding of the Z variant of alpha-1-antitrypsin, increasing serum levels of active protein and reducing accumulation in the liver, for the treatment of alpha-1-antitrypsin deficiency.

ABOUT CENTESSA

Centessa Pharmaceuticals Limited is a next-generation biopharmaceutical company that aims to reshape the traditional drug development process. The company applies an asset-centric R&D model at scale to advance a portfolio of highly validated programs led by industry leading teams. Each program is developed by an Centessa Subsidiary and supported by a centralized infrastructure and the Centessa management team. The company is headquartered in Cambridge, Mass. For more information, visit www.centessa.com

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. Statements we make in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are usually identified by the use of words such as “estimates,” “expects,” “intends,” “anticipates,” “believes,” “may,” “should,” “will,” “plans,” “projects,” “seeks,” and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements, including statements relating to expectations, plans and prospects regarding the clinical development plans and timing, clinical trial designs, clinical and therapeutic potential, and strategy for any of our programs reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a number of risks, uncertainties and assumptions, including, but not limited to, the success of clinical trials, regulatory filings, and approvals. These forward-looking statements are based upon the current expectations and beliefs of Centessa’s management team as of the date of this release and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Furthermore, Centessa operates in a very competitive and rapidly changing environment in which new risks emerge from time to time. Except as required by applicable law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

Dan Budwick
1AB dan@1abmedia.com

Mary Clark & Shabnam Bashir
Optimum Strategic Communications centessa@optimumcomms.com

Marcus Veith
VEITHing Spirit +41 79 20 75 111 marcus@vspirit.ch

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Bain Capital Private Equity and Cinven enter into definitive agreements to acquire Lonza Specialty Ingredients

Cinven

Today, Bain Capital Private Equity (“Bain Capital”) and Cinven (together “the consortium”) have entered into definitive agreements to acquire Lonza Specialty Ingredients (“LSI”), a division of Lonza AG, for a total enterprise value of CHF 4.2 billion.

LSI is a world-leading provider of specialty chemicals for microbial control solutions, used to eliminate or control harmful and unwanted micro-organisms. LSI’s products are critical ingredients in disinfectants, preservatives, sanitisers, personal care products, as well as coatings and other industrial uses. The business also produces a range of other specialty chemicals, centred around its unique production facility in Switzerland.

Headquartered in Basel, Switzerland, LSI has approximately 2,800 employees, 11 R&D centres and 17 manufacturing sites across the world. The business serves circa 5,300 customers across a wide range of end-markets.

LSI is a strong company, which presents an attractive investment opportunity for a number of reasons:

  • LSI provides a range of differentiated specialty chemical products, underpinned by strong R&D capabilities, regulatory and IP protections, and a highly qualified and dedicated workforce;
  • The microbial control solutions market benefits from structural growth due to favourable penetration trends, supportive regulatory dynamics, and the growing need to protect society from harmful micro-organisms;
  • The business serves a diversified set of attractive end-markets, with a particularly strong presence in the Professional Hygiene and Home & Personal Care segments;
  • The business enjoys leading positions in North America and Europe, with longstanding customer relationships and extensive regulatory expertise.

The strategy of the consortium is to:

  • Enhance the R&D capabilities of LSI to continue to develop innovative chemistries to control the spread of microbes (such as viruses and bacteria) in a sustainable and responsible manner;
  • Build deeper customer relationships through customised application development in a complex regulatory environment, and to provide an even greater range of microbial control formulations;
  • Consolidate the microbial control solutions market through buy-and-build opportunities in the sector, which remains fragmented;
  • Invest further in the world-class production facility in Visp, Switzerland, to enhance its unique technical capabilities and high quality specialty chemicals portfolio.

Pontus Pettersson, Partner at Cinven, commented:

“Cinven and Bain Capital are delighted to invest in LSI, as a global leader in a specialty chemicals category that serves a critical need for society, across a broad range of end-markets.”

“LSI enjoys a strong market position globally, underpinned by deep customer relationships, a continuous track record of innovation and product development, and extensive regulatory capabilities.”

David Danon, Managing Director at Bain Capital added:

“LSI has multiple attractive growth opportunities as the leading global player in the growing market for microbial control. Our strategy is to reinforce the company’s market position, to accelerate growth through further investment in R&D and innovation, and to use LSI as a platform for further industry consolidation, in line with Bain Capital’s and Cinven’s strategies in other sectors.”

The consortium is committed to growing businesses responsibly, and recognises the importance of the environmental, regulatory and stakeholder responsibilities of LSI. Both Bain Capital and Cinven have a strong track record of growing industrial companies in Europe and North America, as well as successfully carving out businesses in an efficient, seamless manner for all stakeholders. The consortium intends to collaborate closely with Lonza AG going forward (notably at the Visp site), as well as with employee representative bodies in Switzerland and across the group, and to become the employer of choice in this sector.

The transaction is expected to close in H2 2021, subject to customary closing conditions.

Advisors to the consortium include: Kirkland & Ellis, Freshfields, Lenz & Staehelin (legal); Ernst & Young (financial, tax); Boston Consulting Group (commercial); Alvarez & Marsal (operations); ERM (environment, regulation); Nexant (technical); The Valence Group of Piper Sandler, Opus Corporate Finance, Trumont (M&A).

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General Atlantic to Invest US$55 Million in Kalbe Genexine Biologics

Capital to fuel Company’s strategic growth into a leading biologics platform in the Southeast Asia region

January 26, 2021

Kalbe Genexine Biologics (“KGBio” or “the Company”), a leading integrated biologics holding company focused on the in-licensing, clinical development,  and manufacturing of novel biologicals and biosimilar molecules, today announced that General Atlantic, a leading global growth equity firm, will invest US$55 million in primary capital in the Company. The investment will support KGBio’s ongoing clinical development and commercialization needs, asset acquisition plan, and production capacity expansion efforts.

KGBio’s ambition is to play a leading role in increasing biological and biosimilar drug availability in the Southeast Asia region. Founded as a joint venture between Kalbe Farma, a leading healthcare and pharmaceuticals company in Indonesia and Southeast Asia, and Genexine, a leading clinical-stage biotechnology company in South Korea, KGBio is positioned for strategic growth. A combination of factors, including affordability constraints and lack of local manufacturing capabilities, have slowed the penetration of biologicals in the region. Biologicals have emerged as an important category of drug development over the past 20 years, with breakthrough advances in disease management, particularly in areas such as immuno-oncology, a key focus area for the Kalbe Group and KGBio. KGBio has built robust capabilities in clinical development and manufacturing and plans to leverage Kalbe Farma’s strength in distribution and global networks to create a large portfolio of biologicals for the Southeast Asia region.

Irawaty Setiady, President Commissioner of Kalbe Farma, said, “Biologicals is a key growth lever for the Kalbe Group. As an R&D-driven organization, we are committed to bringing global innovation in medicine and improving the accessibility and affordability of critical drugs for patients across the Southeast Asia region. We welcome the opportunity to partner with General Atlantic, a leading global investor in life sciences, to help realize our vision in Southeast Asia and beyond.”

Sandeep Naik, Managing Director and Head of India & Southeast Asia at General Atlantic, said, “We admire KGBio’s vision to bring affordable, high-quality biological products to Southeast Asia and look forward to working in partnership with Kalbe Farma and Genexine to advance this mission. With significant existing momentum, we believe KGBio is positioned to becoming a leading biologics platform in the Southeast Asia region as the Company continues to scale.”

Dr. Sung Young-Chul, CEO of Genexine and commissioner of KGBio, said “We are very pleased to have General Atlantic come onboard as a partner in KGBio. Genexine shares Kalbe Farma’s vision to create a leading biotech platform for the Southeast Asia region. Our partnership with Kalbe to bring leading global biotechnology innovation has been very successful so far, and we look forward to the next phase of growth as this new alliance helps us bring our goal closer.”

Sie Djohan, Director of Kalbe Farma and CEO of KGBio, said, “Our partnership with General Atlantic represents a new milestone in KGBio’s growth trajectory beyond Indonesia and Southeast Asia. As a global player in life sciences, General Atlantic brings an extensive network and deep expertise in innovation that KGBio aims to leverage. Having made considerable progress in the clinical development, regulatory approvals and commercialization of our novel and biosimilar molecules, we aim to further expand our portfolio and reach with the support of Genexine and General Atlantic as our partners.”

Ashish Saboo, Managing Director and Head of Indonesia at General Atlantic, said, “KGBio is committed to meeting the challenging healthcare needs of the Southeast Asia region by providing effective, affordable treatments for chronic health conditions. The Company is underpinned by Kalbe Farma’s leading R&D and governance standards, strong portfolio, integrated facilities, experienced management team, and extensive distribution network, as well as Genexine’s clinical development expertise. We are thrilled to back KGBio on their journey to drive global biotechnology innovation.”

About Kalbe Genexine Biologics (KGBio)

KGBio aims to provide high-quality, affordable, and innovative biologics, biosimilars, and immuno-oncology products to the Southeast Asia market. KGBio was founded in 2016 as a joint venture between Kalbe Farma Tbk (IDX:KLBF), a leading pharma company in Indonesia and Southeast Asia, and Genexine (KOSDAQ: 095700), a South Korea-based clinical-stage biotechnology company.

KGBio has licensed two advanced clinical-stage biological drugs (PD-1 for various oncology indications, and a third-generation Erythropoietin for CKD-induced anemia) and one early clinical-stage novel biological drug:

  • PD-1 Antibody (HLX10): HLX10 is a humanized anti-PD1 monoclonal antibody. It is being evaluated for the treatment of multiple tumor indications, as well as chronic hepatitis B infections. KGBio has taken licenses for squamous non-small-cell lung cancer and hepatocellular carcinoma indications in which global phase III studies are in progress.
  • EPO hyFc (GX-E4): GX-E4 is a novel long-acting erythropoietin-hybrid Fc fusion protein. It is being evaluated in a phase III study for the treatment of anemia related to chronic kidney disease in Southeast Asian countries, Taiwan, and Australia.
  • CD73 Antibody (TJD5): TJD5 is a CD73-antagonistic antibody. CD73 is the rate-limiting enzyme that converts extracellular AMP to adenosine, a potent immunosuppressive molecule in the tumor micro-environment. TJD5 is being evaluated in a phase I study in combination with Atezolizumab.

KGBio fully owns Innogene Kalbiotech (“Innogene”) and holds a controlling stake in Kalbio Global Medika (“Kalbio”). Innogene is a biosimilar platform and currently has four monoclonal antibody drugs (Rituximab, Nimotuzumab, Trastuzumab, and Bevacizumab). Kalbio is a biological manufacturing facility with bioreactor capacity for mammalian cell-lines. For more information, please visit the website: www.kg-biologics.com.

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build market-leading businesses worldwide. General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Genexine

Genexine, Inc. (KOSDAQ:095700) is a clinical stage biotechnology company, focused on the development and commercialization of immunotherapeutics and long-acting biologics in South Korea. It develops hyFcTM platform, a proprietary technology designed to drive the discovery of various differentiated agonistic protein therapeutics, and the Immune Enhancing Technology, a therapeutic DNA vaccine technology. For more information, please visit the website: www.genexine.com.

About Kalbe Farma

PT Kalbe Farma Tbk (IDX:KLBF) is a leading pharmaceuticals company in Indonesia and Southeast Asia. It was established in 1966 and is headquartered in Jakarta, Indonesia. Kalbe Farma operates in four main divisions: prescription pharmaceuticals, consumer health, nutrition, and distribution and logistics. For more information, please visit the website: www.kalbe.co.id.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

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MinervaX raises upsized EUR 47.4M (USD 57M) Series B to advance its novel Group B Streptococcus vaccine through mid-stage clinical trials

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On the back of highly promising Phase Ib data, MinervaX has raised financing from leading investors to accelerate development of its novel vaccine through the end of Phase II trials and preparations for Phase III pivotal trials

– Sanofi Ventures, Wellington Partners, Adjuvant Capital, and Industrifonden join existing investors Novo Holdings REPAIR Impact Fund, Sunstone Life Science Ventures and LF Investment

– Group B Streptococcus (GBS) is one of the leading causes of stillbirth and infant mortality representing a significant unmet need globally, including in the US and Europe; nearly one in five women globally are colonized by GBS

News provided by

MinervaX

Dec 15, 2020, 02:00 ET

COPENHAGEN, Denmark, Dec. 15, 2020 /PRNewswire/ — MinervaX, a privately held Danish biotechnology company developing a novel vaccine against Group B Streptococcus (GBS), announced today that it has raised an upsized EUR 47.4 million Series B financing. The round included new investors Sanofi Ventures, Wellington Partners, Adjuvant Capital, and Industrifonden, along with existing investors Novo Holdings REPAIR Impact Fund, Sunstone Life Science Ventures, and LF Investment. Proceeds will advance the clinical development of MinervaX’s novel GBS vaccine through Phase II clinical trials, as well as manufacturing and regulatory preparation for Phase III.

Concurrent with the financing, Christopher Gagliardi from Sanofi Ventures, Karl Nägler from Wellington Partners, Kabeer Aziz from Adjuvant Capital and Bita Sehat from Industrifonden will join MinervaX’s board of directors.

GBS is responsible for nearly half of all life-threatening infections in newborns. MinervaX’s protein-only GBS vaccine targets pregnant women for the prevention of adverse pregnancy outcomes and life-threatening neonatal infections associated with GBS. Globally, 15-25% of women are colonized with GBS, and they run the risk of transmitting the bacteria to their child in utero, during birth and / or during their first months of life. GBS colonization may lead to late-term abortions, premature delivery or stillbirth; and in newborn children may result in sepsis, pneumonia or meningitis, all of which carry a significant risk of severe morbidity, long-term disability or death.

Currently, the only preventative strategy available involves the use of intravenously delivered prophylactic antibiotics, which does not comprehensively prevent GBS infection in utero or protect against late-onset infection in newborns. As this approach is expensive and logistically challenging, it fails to cover all, including the most severe cases in the US and Europe, nor is it available in resource-limited settings.

Commenting on the financing, Per Fischer, CEO of MinervaX, said: “Prevention of GBS infections in pregnant women and newborns represents a large unmet medical need. The current preventive strategy is insufficient and involves excessive use of prophylactic antibiotics, which has resulted in the emergence of wide-spread antibiotic resistance.”

“We are pleased to have received funding from such a strong investment syndicate. It is a significant endorsement of the potential of our vaccine. We look forward to advancing our novel vaccine candidate through Phase II clinical trials to develop a new standard of care in preventing GBS infections.”

Commenting on the investment, Christopher Gagliardi, Director of Investments at Sanofi Ventures, said: “Sanofi Ventures is tremendously excited by the first and best in class potential of MinervaX’s GBS vaccine. We are thrilled to invest alongside a top-tier investor syndicate while supporting Sanofi’s strategic goals and commitment to early stage companies advancing global public health.”

Karl Nägler, Managing Partner at Wellington Partners said: “We are proud and excited to back MinervaX’s GBS program that will address an unmet high medical need and represents a blockbuster commercial opportunity. Beyond prevention of GBS infections in newborns, we are eager to explore important further indications for this much needed vaccine.”

Emmanuelle Coutanceau, Partner at Novo Seeds and Board Member at MinervaX, added: “MinervaX is developing an important vaccine against a potentially fatal pathogen and, in doing so, is furthering the battle against antimicrobial resistance.  This is a landmark for the Novo Holdings REPAIR Impact Fund with the first company in the fund moving to Phase II. We are also delighted to help bring together such a strong syndicate in a company where Novo was one of the first investors.”

MinervaX has completed Phase I studies across 300 healthy female subjects, generating compelling data to support advancing its novel vaccine candidate to Phase II trials. Studies to date have demonstrated a favourable safety profile, while generating high levels of long-lasting antibodies, which are capable of mobilizing the immune system against GBS bacteria and preventing invasion of epithelial and endothelial cell barriers.

The development of MinervaX’s novel GBS vaccine candidate is also endorsed by Group B Strep Support and Group B Strep International, and GBS has been prioritised by a number of public health organisations. Both increased uptake of immunisation among pregnant women and greater awareness of the implications of GBS suggest that a safe and effective vaccine targeting GBS would be well suited to address this unmet need.

About MinervaX

MinervaX is a Danish biotechnology company, established in 2010 in order to develop a prophylactic vaccine against Group B Streptococcus (GBS), based on research from Lund University. MinervaX is developing a GBS vaccine for maternal immunization, likely to have superior characteristics compared with other GBS vaccine candidates in development. The latter are based on traditional capsular polysaccharide (CPS) conjugate technology. By contrast, MinervaX’s vaccine is a protein-only vaccine based on fusions of highly immunogenic and protective protein domains from selected surface proteins of GBS (the Alpha-like protein family). Given the broad distribution of proteins contained in the vaccine on GBS strains globally, it is expected that MinervaX’s vaccine will confer protection against virtually 100% of all GBS isolates. www.minervax.com

About Group B Streptococcus (GBS)

GBS is responsible for nearly 50% of all life-threatening infections in newborns. At any given time, some 15-25% of women are spontaneously colonized with GBS, and they run the risk of transmitting the bacteria to their child in the womb, during birth and/or during the first months of life. GBS colonization may lead to late abortions, premature delivery or stillbirth and, in the newborn child, may result in sepsis, pneumonia or meningitis, all of which carry a significant risk of severe morbidity, long-term disability or death.

About Sanofi Ventures 

Sanofi Ventures is the corporate venture capital arm of Sanofi. Sanofi Ventures invests in early-stage biotech and digital health companies with innovative ideas and transformative new products and technologies of strategic interest to Sanofi. Among these areas are vaccines, oncology, immunology, rare diseases, potential cures in other core areas of Sanofi’s business footprint, and digital health solutions. For more information, visit www.sanofiventures.com.

About Novo Holdings A/S

Novo Holdings is recognized as a leading international life science investor, with a focus on creating long-term value. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. Further information: http://www.novoholdings.dk

About REPAIR Impact Fund

The Fund invests in start-ups, early-stage companies and corporate spin-outs around the world. It gives priority to first-in-class therapies, covering small molecules, biologics and new modalities, from the early stage of drug development (lead optimization) to later stages of clinical development (into Phase 2). It can invest as the sole investor or in a syndicate, with investments ranging from EUR 1 million to EUR 12 million.

The projects are selected through an investment process with support from a highly qualified Scientific Selection Board, comprising ten world-class experts. For more information about members of the Scientific Selection Board, see www.repair-impact-fund.com/people.

The Fund focuses on priority pathogens as defined by the World Health Organization and the United States Centers for Disease Control and Prevention, a catalogue of 18 families of bacterial and fungal pathogens that pose the greatest threat to human health. For more details about the investment process, see www.repair-impact-fund.com/investment-process.

REPAIR is an acronym: Replenishing and Enabling the Pipeline for Anti-Infective Resistance

About Wellington Partners

Wellington Partners is a leading European venture capital firm investing in early- and growth-stage life science companies. Wellington Partners is focused on investing in the most promising life science companies in the fields of biotechnology, therapeutics, medical technology, diagnostics and digital health. With funds totaling more than €1 billion, thereof €430 million committed to Life Sciences, Wellington Partners has been actively supporting world class private companies translating true innovation into successful businesses with exceptional growth. To date, Wellington Partners has invested in 46 innovative life science companies, including Actelion (acquired by J&J), Definiens (acquired by AZ), Invendo (acquired by Ambu), Rigontec (acquired by MSD), Symetis (acquired by Boston Scientific), and Themis (acquired by MSD). www.wellington-partners.com

About Adjuvant Capital

Adjuvant is a New York– and San Francisco-based life sciences investment fund built to accelerate the development of new technologies for the world’s most pressing public health challenges. Backed by prominent healthcare investors such as Novartis, Merck, the International Finance Corporation, and the Bill & Melinda Gates Foundation, Adjuvant draws upon its global network of scientists, public health experts, biopharmaceutical industry veterans, and development finance professionals to identify new investment opportunities. Adjuvant invests in companies developing promising new vaccines, therapeutics, and diagnostics for historically overlooked indications targeting high-burden infectious diseases, maternal and child health, and antimicrobial resistance, with a commitment to make these interventions accessible to those who need them most in low- and middle-income countries. For more information, visit www.adjuvantcapital.com

About Industrifonden

Industrifonden is a Nordic venture capital investor based in Stockholm that invests in early-stage growth companies. Our areas of expertise include Life Sciences, Deep Tech and Transformative Tech. In the life science space, our focus is on biotech, heathtech and medtech, and our life-science portfolio includes companies like Oncopeptides, Calliditas and Bonesuppport. www.industrifonden.com

About Sunstone Life Science Ventures

Sunstone Life Science Ventures is an independent European venture capital investment firm founded in 2007 by an international team of industry experts with combined entrepreneurial, operational and financial experience. Sunstone Life Science Ventures focuses on developing and expanding early-stage Life Science companies with strong potential to achieve global success in their markets. Since the inception, Sunstone Life Science Ventures has invested in more than 50 companies in the areas of pharmaceuticals, medical technologies and diagnostics, and has completed more than 20 successful IPOs and large M&A transactions. Managing total funds of approx. €500 million, Sunstone Life Science Ventures is one of the largest Nordic venture capital investors. https://sunstone.eu/

LF Investment

LF Investment is an investment company fully owned by The Lauritzen Foundation. www.lauritzenfonden.com

SOURCE MinervaX

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Latour establishes Latour Future Solutions and invests in Gaia BioMaterials AB

Latour logo

2020-11-23 08:30

Investment AB Latour (publ) has, through its subsidiary Latour Industries, established a new investment area, Latour Future Solutions. The investment area targets sustainability-focused growth companies, where Latour can contribute with industrial expertise to accelerate the development of solutions for a long-term sustainable society. Pelle Mattisson has been recruited to lead Latour Future Solutions AB.

In connection with the establishment, Latour has made its first investment in Gaia BioMaterials AB, a company that develops and manufactures biodegradable biomaterials from renewable sources to replace fossil-based plastics. The company was founded in 2011 and has 16 employees with headquarters and manufacturing in Helsingborg, Sweden. Net sales in 2019 amounted to SEK 40 m.

“With its patented biomaterial BioDoloMer®, Gaia BioMaterials is involved in changing the plastics industry. Their material helps to reduce climate change and do not create microplastics during degradation, areas we have identified as very interesting. We have known them for some time and are proud to become a partner in their continued growth journey”, says Björn Lenander, CEO of Latour Industries.

“Becoming part of Latour not only means that we get a strong and stable minority owner, it also opens up new expansion and development opportunities for us. We look forward to continuing to develop Gaia BioMaterials together”, says Peter Stenström, CEO of Gaia BioMaterials.

The investment has taken place via a directed share issue in Gaia BioMaterials, where Latour Future Solutions AB has entered as a minority owner.

Göteborg, 23 November 2020

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Björn Lenander, CEO Latour Industries AB, +46 708 19 47 36
Pelle Mattisson, Latour Future Solutions AB, +46 705 80 06 57

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 68 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

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TFS enters partnership in the US with the Duke Clinical Research Institute

Ratos

TFS has entered into a strategic partnership with the Duke Clinical Research Institute (DCRI) in North Carolina, US, to provide data management solutions in clinical trials.

The unique collaboration expands TFS’s capability to execute clinical trials for both commercial and government sponsors in the U.S. It supports the company’s growth strategy and further develops its scientific offering. Duke Clinical Research Institute is a world-renowned research institute, recognized for bringing innovation to clinical trial design and execution.

“DCRI is known for ushering in new and innovative approaches to clinical research, and TFS is a leader in providing quality clinical development services through operational excellence and a customer-centric approach. TFS data management solutions ensure quality data services while it continues to push boundaries in study design and management as part of our shared mission to serve patients throughout the world,” says Bassem Saleh, TFS Chief Executive Officer.

“The partnership with Duke Clinical Research Institute is a strategic step toward expanding TFS’ service offering in North America and it opens up doors for further collaboration. TFS provides tailored solutions and is well-positioned to manage complex global studies. The recent agreement strengthens our US presence, while leveraging the European capabilities,” says Joakim Twetman, Head of Business Area Industry at Ratos.

 

For further information, please contact:
Joakim Twetman, Head of Business Area Industry, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98, helene.gustafsson@ratos.se

 

About TFS:
TFS is a global, mid-sized, clinical contract research organisation (CRO) that supports biotech companies through the entire clinical development process. TFS focuses its scientific and medical competence across a broad therapeutic spectrum, with industry-leading capabilities in dermatology, oncology and ophthalmology. TFS has two business Areas: Clinical Development Services (CDS), which offers clinical trials for small pharmaceutical companies during the development process, and Strategic Resourcing Solutions (SRS), which offers resource solutions featuring clinical professionals and targeting major pharmaceutical companies. Over the past five years, TFS has been involved in approximately 1,100 studies in 40 countries across Europe and North America.

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Patricia Industries acquires Advanced Instruments, the global market leader in analytical osmolality

Investor

2020-09-28 13:58 GMT+02

Patricia Industries, a part of Investor AB, has signed an agreement with Windjammer Capital to acquire US company Advanced Instruments, the leading global provider of osmolality testing instrumentation and consumables for the clinical, biopharmaceutical, and food & beverage markets.

Advanced Instruments manufactures a broad portfolio of innovative osmolality testing products used in over 90 countries. The company’s rapidly growing biopharmaceutical product range is used in the research laboratories and manufacturing facilities in all top 10 global biopharmaceutical companies. The products are also used by numerous emerging cell and gene therapy companies to optimize and monitor formulation and production of complex biologics products. Advanced Instruments’ clinical products are used by leading academic and community hospitals across the world for diagnosing a variety of medical conditions. The food & beverage products are used by many leading global producers and has a particular focus on ensuring product quality in the dairy market.

Since its formation in 1955, Advanced Instruments has entrenched osmolality as a critical and high-value test enabling the measurement of the number of dissolved particles in a fluid to diagnose medical conditions and assess product quality in a variety of settings. The company has built a strong brand reputation and deep customer relationships, it is recognized as the global authority on osmolality testing, and its products are the standard within each of its core markets. Clinical is the largest segment, followed by biopharma, then food & beverage. Geographically, North America is the single largest market.

“Advanced Instruments fulfils many of the criteria we seek in new investments. It is the clear global leader in a highly attractive market segment with durable long-term growth prospects. The company’s products are critical for its customers yet represent a fraction of their overall costs. Advanced Instruments has a compelling financial profile with high growth and profitability, strong cash flow generation, and a large share of recurring revenue. We believe that Advanced Instruments is a great addition to Patricia Industries”, comments Investor AB President and CEO Johan Forssell.

The enterprise value amounts to USD 780m. For the 12-month period ending June 30, 2020, sales amounted to USD 72 m and the adjusted EBITDA margin was approximately 45 percent. While covid-19 impacted both sales and profitability during the second quarter, the company has showed good resilience. Over the past 15 years, organic sales growth has averaged approximately 10 percent, with strong profitability and cash conversion.

“Advanced Instruments has a market-leading technology and a track record of successful innovation. The company has a resilient business model, strong long-term organic growth potential and multiple ways to expand through acquisitions in both existing and new markets. We look forward to working with the management team and our strong industrial network to further develop the business”, says Noah Walley, Co-Head Patricia Industries.

“I am excited for Advanced Instruments to become part of the Patricia Industries and Investor AB family. We share a values-oriented culture and passion for innovation, and I firmly believe that their long-term investment approach, healthcare industry expertise, and engaged ownership model will be invaluable to Advanced Instruments in our next phase of growth”, says Byron Selman, CEO of Advanced Instruments.

Patricia Industries plans to inject approximately USD 620m in equity for majority ownership of the company. The remainder of the acquisition will be financed by external debt and equity participation by Advanced Instruments’ management, board and other key individuals.

Upon closing, Advanced Instruments becomes Patricia Industries’ fourth North American subsidiary, in addition to BraunAbility, Laborie, and Sarnova.

The acquisition is subject to approval by the relevant competition authorities. Closing is expected during the fourth quarter 2020.

About Patricia Industries
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.

About Advanced Instruments
Advanced Instruments is a global provider of scientific and analytical instruments for the biotechnology, clinical, and food & beverage industries. Since 1955, the company’s innovations have helped organizations improve quality of results, achieve reliable outcomes, and increase workplace productivity. Advanced Instruments has a diverse portfolio of products, including freezing-point osmometers, cerebrospinal fluid cell counters, anaerobic jar systems, cryoscopes, pasteurization test systems, and testing standards and controls.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability,
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

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Chr. Hansen to sell its Natural Colors business to EQT

eqt

  • Chr. Hansen to sell its Natural Colors business, the leading global developer and manufacturer of natural coloring ingredients for food and beverages, to EQT IX
  • Natural Colors’ underlying market is supported by favorable secular megatrends, such as increasing consumer awareness around health and the environment, the ongoing transition from synthetic coloring components to natural ingredients, and a growing demand for sustainable and plant-based food
  • EQT plans to invest significantly in Natural Colors’ organization and strengthen its digital infrastructure, sustainability capabilities and supply chain setup. EQT will support organic growth in Natural Colors’ existing markets and acquisitive expansion in the highly fragmented food coloring market
  • Natural Colors is expected to leverage on EQT’s inhouse expertise within digitalization and sustainability, and EQT’s global advisory network, which possesses significant experience from developing strong ingredient companies

Chr. Hansen Holding A/S (“Chr. Hansen”) and the EQT IX fund today announced that EQT has agreed to acquire the Natural Colors Division (“Natural Colors” or “the Company”), a subsidiary of Chr. Hansen, the global bioscience leader and developer of natural solutions for the food, nutritional, pharmaceutical and agricultural industries. The purchase price amounts to EUR 800 million.

Headquartered in Hørsholm, Denmark, Natural Colors is the leading developer and manufacturer of natural coloring ingredients, serving over 1,600 customers in the food and beverages (F&B) industry. The Company is the global leader in the natural colorants industry in terms of innovation, application, formulation, product portfolio breadth and geographical reach. The Natural Colors Division employs approximately 650 people and has grown organically by around 9 percent per annum during the past five years up to 2018/19. The Company generated sales of EUR 224 million in 2018/19.

Natural Colors’ products are made from all-natural fruit and vegetable concentrates from sweet potatoes, grape skin, spirulina, carrots and beetroots. The products are primarily used within F&B applications where the conversion from artificial to natural colorants is highest, such as dairy- and fruit preparations, confectionary, ice cream, prepared foods and beverages.

Natural Colors’ underlying market is supported by favorable secular megatrends, such as increasing consumer awareness around health and the environment, the ongoing transition from synthetic components to natural ingredients, and a growing demand for sustainable and plant-based food. The Company’s solutions contribute to society and support several of the United Nations Sustainable Development Goals, including SDG 12 (Responsible Consumption and Production): via R&D into higher crop yields, use of renewable resources such as grape skin. SDG 13 (Climate Action): via a ‘Go Green’ project to make energy and CO2 improvements, using science-based targets.

EQT intends to build on the existing strategy of continued organic growth in current markets with a focus on the US and Asia. EQT will also support acquisitive expansion within the highly fragmented foods coloring market by utilizing the Natural Colors platform for industry consolidation. Moreover, EQT plans to invest significantly in the Company’s organization and strengthen its digital infrastructure, sustainability capabilities and supply chain setup. Natural Colors is expected to leverage on EQT’s inhouse expertise within digitalization and sustainability, and EQT’s global advisory network, which possesses significant experience from developing strong ingredient companies.

Mauricio Graber, CEO of Chr. Hansen, commented: “The divestment of the Natural Colors Division completes the Review part of our recently launched 2025 Strategy. Chr. Hansen can now focus on fulfilling the ambition of becoming a pure-play, microbial and fermentation company with industry leading, profitable growth. I am convinced EQT will be a great owner of the Natural Colors business which has a leading global position in the industry. During the process it has become clear that EQT showed the strongest conviction in the potential of the business, and the highest dedication to the future development of it. I want to thank all the employees of the Natural Colors business for their contribution to Chr. Hansen over many years and wish them all the best in the future journey as an independent company.”

Mads Ditlevsen, Partner at EQT Partners, and Investment Advisor to EQT IX, commented: “We are immensely proud and humble of having been chosen as the future owner of Natural Colors. It is a high-quality and truly global business with a proud legacy of servicing customers all over the world for more than 100 years. We are highly impressed by the strong ESG profile, the high-quality organization and talented people we have met during this process, as well as the dedicated focus on food safety. Natural Colors fits very well with EQT’s thematic investment criteria and is operating in two of EQT IX’s five prioritized sub-sectors within Industrial Technology. EQT’s ambition is to help the business achieve further growth both organically and through acquisitions.”

Klaus Bjerrum, Executive Vice President of Natural Colors Division, said: “I am very pleased to announce EQT as the new owner of Chr. Hansen’s Natural Colors Division. EQT has acquired our great business (pending closing) to grow it organically and inorganically based on our capabilities and organization, and not least our leading market position. It is my conviction that this marks a new and exciting chapter for us, and I am excited to embark on this journey with EQT and all our talented employees around the world.”

The transaction is subject to customary conditions and regulatory approvals. It is expected to close in H1 2021.

Goldman Sachs acted as exclusive financial advisor, Gorrissen Federspiel as legal advisor, Baker McKenzie as legal advisor and Deloitte as M&A transaction services, tax and carve-out advisor to Chr. Hansen. J.P. Morgan and Nordea acted as financial advisors, Accura as legal advisor, PWC as M&A transaction services, tax and carve-out advisor and Boston Consulting Group as commercial advisor to EQT.

With this transaction, EQT IX is expected to be 15-20 percent invested, based on its target fund size.

Contact
Camilla Lercke, Head of Media Relations, Chr. Hansen, +45 5339 2384
EQT Press Office, press@eqtpartners.com

About Chr. Hansen
Chr. Hansen is a leading, global bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. We develop and produce cultures, enzymes, probiotics and natural colors for a rich variety of foods, confectionery, beverages, dietary supplements and even animal feed and plant protection. Our product innovation is based on around 40,000 microbial strains – we like to refer to them as ‘good bacteria’. Our solutions enable food manufacturers to produce more with less – while also reducing the use of chemicals and other synthetic additives – which make our products highly relevant in today’s world. Sustainability is an integral part of Chr. Hansen’s vision to improve food and health. In 2019 Chr. Hansen was ranked as the world’s most sustainable company by Corporate Knights thanks to our strong sustainability efforts and our many collaborative partnerships with our customers. We have been delivering value to our partners – and, ultimately, end consumers worldwide – for over 140 years. We are proud that more than one billion people consume products containing our natural ingredients every day.

More info: www.chr-hansen.com/en

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

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Scenic Biotech Enters into Genetic Modifier Collaboration with Genentech

Inkef Capital

  • Multi-year strategic collaboration in target discovery and therapeutic development based on Scenic Biotech’s disease modifying approach
  • Utilises Scenic’s unique Cell-Seq platform and its proprietary data warehouse of genetic modifiers
  • Scenic Biotech will receive an undisclosed upfront payment and is eligible to receive milestone payments and royalties across multiple products meeting certain pre-defined conditions

 

Amsterdam, The Netherlands, September 20, 2020 – Scenic Biotech BV (“Scenic”), a pioneer in the discovery of genetic modifiers to enable the development of disease modifying therapeutics for rare genetic disorders and other devastating illnesses, today announced that it has entered into a multi-year strategic collaboration with Genentech, a member of the Roche Group, to discover, develop and commercialize novel therapeutics that target genetic modifiers.

Genetic modifiers are genes that counteract the effect of a disease-causing gene. They may explain why some people with genetic mutations linked to severe disease end up having only mild or no symptoms. Also known as disease suppressors, genetic modifiers therefore positively influence the severity of disease and act as a ‘natural form of protection’. Their discovery is leading to a completely new class of drug targets.

Under the terms of the agreement, Scenic will utilize its Cell-Seq platform and its data warehouse of genetic modifiers to identify drug targets in multiple therapeutic areas. The collaboration enables Genentech to select multiple targets for further development with an option to extend the collaboration. Scenic will receive an undisclosed upfront payment and is eligible to receive additional target selection fees for drug targets taken forward by Genentech. In addition, Scenic is eligible for success-based payments for each target based on achievement of certain predetermined milestones, as well as royalties on sales of certain products resulting from the collaboration. Total deal value could exceed US $375M.

Scenic has built an extensive proprietary data warehouse of genetic modifiers and its Cell-Seq platform enables the development of potential disease modifying therapeutics for devastating diseases with an in-house focus on inherited rare diseases and immuno-oncology/inflammation.

The Company was founded in 2017 as a spin-out of the Netherlands Cancer Institute, and Oxford University and recently appointed Oscar Izeboud, PhD as its Chief Executive Officer.

 

Dr Sebastian Nijman, Co-founder and CSO of Scenic Biotech said:

“Genentech is the pioneer in innovative biotech and has world leading research and development capabilities. Scenic is a science-driven company and having Genentech as our first major industry partner is a great validation of our technology and by working together it will extend the utility of our platform beyond our current therapeutic areas of interest. The collaboration also brings significant strategic value for Scenic as it enables us to realise the potential of our genetic modifier expertise alongside independently advancing our own programs towards clinical development.”

 

About Scenic Biotech

Scenic Biotech is focused on identifying genetic modifiers, a completely new class of disease targets, for drug intervention. Also known as disease suppressors, genetic modifiers are genes that act to suppress or completely block the effect of a disease-causing mutated gene.

As a pioneer in the field, Scenic Biotech is building the largest proprietary data warehouse of genetic modifiers and has already identified a number of novel genetic modifiers for over a dozen inherited diseases. This approach is enabling the development of disease modifying therapeutics for devastating diseases including inherited rare diseases and cancer.

Scenic Biotech is headquartered in Amsterdam, the Netherlands. The Company was founded in 2017 as a spin-out of the Netherlands Cancer Institute, and Oxford University, backed by a Dutch-UK syndicate of Venture Capital investors that include BioGeneration Ventures, Inkef Capital, and Oxford Sciences Innovation.

Scenic Biotech refers to all companies within the Scenic group, comprising Scenic Holding BV and its two fully owned subsidiary companies: Scenic Immunology BV and Scenic Biotech BV.

For further information please visit: www.scenicbiotech.com

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Ansa Biotechnologies Raises $9.2 Million in Combined Seed and Pre-Seed Financing

Horizons Ventures

BERKELEY, Calif.–(BUSINESS WIRE)–Ansa Biotechnologies today announced that it has raised $7.9 million in an oversubscribed Seed round of funding led by Horizons Ventures, with participation from Mubadala Capital, Humboldt Fund, and additional investors. Combined with a Pre-Seed round raised in December 2018 led by Fifty Years, the company has raised $9.2 million to date.

The new investment will accelerate the development of Ansa’s next-generation DNA synthesis technology. Ansa will use the funds to recruit world-class talent, build out new, state-of-the-art R&D facilities, and establish strategic industrial partnerships. “Biology-based technology will continue to revolutionize multiple industries, and Ansa is poised to deliver the next generation of synthetic DNA to support this transformation. We believe that faster and more accurate DNA synthesis is foundational to fueling innovation in both biotechnology and basic biological research,” said Daniel Arlow, Ph.D., CEO of Ansa. “To achieve our goals, we will rapidly expand our team by hiring top talent from industry and academia over the next few months.”

“DNA read, write, and edit are the core pillars of synthetic biology,” said Seth Bannon, Founding Partner at Fifty Years. “Currently, the ability to write DNA is the main bottleneck in the synthetic biology industry. By enabling faster, longer, and higher quality DNA synthesis with their fully enzymatic process, Ansa will help accelerate the entire synthetic biology industry.”

“Ansa’s unique and versatile enzymatic approach promises to set the standard for DNA synthesis speed and accuracy,” said Patrick Zhang of Horizons Ventures. “We are excited to partner with Ansa to support the development of this critical technology that will streamline writing the DNA code that powers the synthetic biology industry.”

About Ansa Biotechnologies

Ansa Biotechnologies is building a faster and cheaper DNA synthesis service to accelerate synthetic biology research. Ansa’s core technology is a novel DNA synthesis method based on enzymes that will be faster, cleaner and more accurate than existing methods. The unique approach, developed by the founders at UC Berkeley, uses an engineered template-independent polymerase conjugated to a single nucleoside triphosphate molecule to rapidly build a DNA sequence one base at a time. For more information, visit ansabio.com or follow on Twitter and LinkedIn.

About Horizons Ventures

Horizons Ventures, the private investment arm of Mr. Li Ka-shing, is a leading investor in some of the world’s most innovative companies and disruptive technologies including Facebook, Spotify, Zoom, Impossible Foods, Perfect Day and Demetrix. For more information, visit horizonsventures.com.

About Fifty Years

Fifty Years is a San Francisco based seed fund that backs entrepreneurs solving the world’s biggest problems with technology. They’re a leading pre-seed and seed investor in synthetic biology. They’ve seeded many synthetic biology startups shaping the world for the better — companies like Memphis Meats, Solugen, Lygos, Geltor, and OpenTrons. For more information, visit www.fiftyyears.com.

Contacts

George McArthur (Head of Product, Ansa Biotechnologies)
(540) 440 1414, media@ansabio.com

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