BGF has welcomed the successful acquisition of a 50% shareholding in Brindley Healthcare by French multinational Orpea, a leading European operator in dependency care.  As a result of the transaction, BGF has now exited the business which was its first investment in the Republic of Ireland.

Speaking today, Leo Casey, Head of BGF in Ireland, wished Brindley Healthcare and Orpea every success in the future; “Brindley was our first investment in Ireland and we are immensely proud of it.  Brindley is now one of the largest nursing home groups in the country.  We were delighted to be able to support Amanda Torrens and her team on their ambitious growth agenda over the past two years.  Typically, our investments are for longer terms than is the case in this instance but in BGF we also don’t stand in the way of our investee companies when the right exit comes around.  In Orpea, Brindley have attracted a highly credible international operator that will underpin their leadership position in the Irish market.”

Amanda Torrens, founder and CEO of Brindley Healthcare paid tribute to BGF and the support they provided to the business; “I can’t speak highly enough of BGF.  Their support for the business over the past two years enabled us to grow strongly and make two acquisitions.  At every stage BGF were supportive and enthusiastic for our plans and I particularly want to acknowledge the generous manner in which they encouraged us to explore this opportunity with Orpea.”

BGF began working with Brindley Healthcare in 2018 and announced its investment in the company at the start of January 2019.  BGF invested €10 million at that time which was used to finance a number of strategic acquisitions and expand the management team.  With BGF’s support, Brindley grew from a network of 8 nursing homes with 400 beds to its current position of 10 nursing homes with a total of 600 beds.

Over the past two years, BGF has made four further investments in businesses in the Republic of Ireland since the investment in Brindley Healthcare.

eries A led by new investors Panakès Partners, INKEF Capital and SHS Gesellschaft für Beteiligungsmanagement

Eindhoven, the Netherlands, September 22, 2020 – Salvia BioElectronics B.V., a neurostimulation platform company targeting chronic migraine, today announced it has raised EUR 26M in new financing from new and existing investors. The Series A investment round was led by Panakès Partners, INKEF Capital and SHS Gesellschaft für Beteiligungsmanagement with participation from BOM Brabant Ventures, Thuja Capital and Dolby Family Ventures. The total raised includes a EUR 5M deferred risk-bearing Innovation Credit from the Netherlands Enterprise Agency (RVO, part of the Dutch ministry of Economic Affairs and Climate Policy). Salvia BioElectronics will use the funds to develop a unique neuromodulation technology capable of addressing known neural targets in chronic migraine and provide its therapy to those suffering from debilitating headaches.

Migraine is the first cause of disability in under 50s, affecting one out of seven people, predominantly women¹. People with migraine experience episodes of throbbing, pulsating pain, sometimes accompanied by nausea, vomiting, and sensitivity to light, that can last anywhere from a few hours to a few days. More than five percent of patients suffer from chronic migraine, where they experience migraines for an average of 22 days per month².

Neurostimulation has been proven as an effective treatment in chronic migraine, but there are no approved implantable devices available today. While traditional neurostimulation systems are not designed to be compatible with the anatomy of the head, Salvia BioElectronics develops highly conforming bioelectronic foils that can be inserted below the skin in a minimally invasive procedure.

Commenting on the news, Hubert Martens, CEO of Salvia BioElectronics said: “We are building a team of highly talented people that are passionate to develop a therapy that can change the lives of people suffering from chronic migraine. We are delighted to welcome our new investors, and I would like to thank our existing investors for their continued support. This strong syndicate of highly renowned medical technology investors validates our approach and the funding enables us to complete our therapy development towards market entry.”

In conjunction with the financing, Diana Saraceni, Founder and Managing Partner at Panakès Partners, Roel Bulthuis, Managing Partner at INKEF Capital and Sascha Alilovic, Managing Partner of SHS Gesellschaft für Beteiligungsmanagement will join the Board of Directors.

Diana Saraceni, Founder and Managing Partner at Panakès Partners, added: “Panakès is excited to be part of the Salvia BioElectronics journey which combines a seasoned team and a unique and promising proposition in the neuromodulation space. It is a great opportunity for Panakès to work with the team and build towards its continued success.”

Roel Bulthuis, Managing Partner at INKEF Capital, added: “Salvia BioElectronics represents a very compelling and differentiated approach within the neurostimulation field. Based on its novel technology, Salvia BioElectronics is uniquely positioned to translate a proven therapy to marketable products for migraine sufferers. We are very pleased to be working with this talented team to help transform their ideas into a successful international business.”

Sascha Alilovic, Managing Partner of SHS Gesellschaft für Beteiligungsmanagement, continued: “Having looked at a number of promising companies in the BeNeLux region, we are proud to add Salvia BioElectronics to our portfolio of innovative healthcare companies. Utilizing Salvia BioElectronics’ neuromodulatory device we hope to improve the situation of patients suffering from chronic migraine and at the same time have a positive impact on health economics.”

Enquiries

For more information please contact:

Salvia BioElectronics

Daniel Schobben, Chief Operating Officer

mb.info@salvianeuro.com

Optimum Strategic Communications

Mary Clark, Supriya Mathur, Manel Mateus

+44 (0) 20 3922 1906 / +44 (0) 203 922 0891

Salvia@optimumcomms.com

¹Steiner, T.J., Stovner, L.J., Vos, T. et al. Migraine is first cause of disability in under 50s: will health politicians now take notice?. J Headache Pain 19, 17 (2018). https://doi.org/10.1186/s10194-018-0846-2

² Richard B Lipton, Merle L Diamond, Stewart J Tepper, Expert Perspectives—Migraine Prevention

for Highly Impacted Patients

 About Salvia BioElectronics B.V. (Salvia BioElectronics)

Salvia BioElectronics is an innovative Dutch startup active in the emerging field of bioelectronics. Salvia BioElectronics was founded in 2017 by neuromodulation industry veterans with the ambition to develop a bioelectronics therapy for people suffering from chronic migraine that is as easy as taking medication yet side-effect free. Building on research around known neural targets in migraine, the startup is working to develop the right form factor for stimulation that is effective, safe, and affordable.

Migraine is the first cause of disability in under 50s, affecting one out of seven people, predominantly women. People with migraine experience episodes of throbbing, pulsating pain, sometimes accompanied by nausea, vomiting, and sensitivity to light, that can last anywhere from a few hours to a few days. More than five percent of patients experience migraines for 15+ days per month – with an average of 22 days – a condition described as chronic migraine. www.salvianeuro.com

About Panakès Partners (Panakès)

Panakès Partners is a venture capital investor that finances medical companies, early-stage startups and SMEs, with extremely promising products and great ambition, in Europe and Israel, improving both patient outcomes and healthcare economics. Investments focus on the medical device, diagnostics and healthcare IT fields. Panakès Partners is headquartered in Milan, Italy. www.panakes.it

About INKEF Capital (INKEF)

INKEF Capital is a venture capital firm based in Amsterdam, backing promising early stage companies in Europe. INKEF takes pride in being a patient, long-term investor with the ability to support companies through several rounds of funding. From the early stages of being a technology or life science venture, INKEF Capital supports entrepreneurs building their ideas into successful international businesses. www.inkefcapital.com

About SHS Gesellschaft für Beteiligungsmanagement (SHS)

SHS Gesellschaft für Beteiligungsmanagement is based in Tuebingen, Germany, and invests in medical technology and life science companies with a focus on expansion financing, changes in shareholder structures and successor situations. SHS holds minority as well as majority interests. The company was founded in 1993 and has since gained extensive experience as an industry investor which supports the growth of its portfolio companies through a network of partnerships regarding the introduction of new products, regulatory issues or entering new markets. The SHS fund’s European based investors include pension funds, strategic investors, funds of funds, family offices, entrepreneurs and the SHS management team. The AIFM-registered company invests up to €30 million in equity capital and volumes exceeding this amount are implemented with a network of co-investors. SHS is currently investing from its fifth fund which received capital commitments of more than €130 million. Further information: https://www.shs-capital.eu/en/

About Brabant Development Agency (BOM)

BOM (the Brabant Development Agency) works together with entrepreneurs to create a strong, sustainable, and future-proof Brabant economy. BOM uses the Brabant Ventures label to focus, using knowledge and capital, on the accelerated and future-proof growth of ambitious Brabant startups and scale-ups in the life sciences & health, high-tech systems and software, agri-food, maintenance, supply chain, and bio-based economy top industries. www.bom.nl/english

About Thuja Capital Management (Thuja)

Thuja manages several venture capital funds aimed at building and scaling companies in the fields of (bio)pharmaceuticals, MedTech, and digital health. In addition to generating a financial return for its investors, Thuja’s investments positively impact the health and well-being of patients. Thuja serves physicians and patients worldwide by providing capital to daring entrepreneurs with ground-breaking product concepts locally. www.thujacapital.com

About Dolby Family Ventures

Dolby Family Ventures is an early stage venture firm focused on building great technology and life sciences companies. We partner with best-in-class innovators and strong investment syndicate partners. The fund honors the legacy of Ray Dolby and his commitment to entrepreneurs and their vision to solve the world’s toughest problems. Our life science investments focus on novel disease modifying therapeutics for Alzheimer’s disease, clinical depression, and neuromodulation therapies. www.dolbyventures.com

About Netherlands Enterprise Agency (RVO)

The Dutch government encourages ambitious entrepreneurs with access to capital, knowledge, and business partners. The implementation of the financing instruments aiming at innovation and growth forms an important part of the activities of RVO.nl.  Innovation Credit is one of these financing instruments. Netherlands Enterprise Agency is part of the Ministry of Economic Affairs and Climate Policy. www.rvo.nl

Inflazome is a pioneering inflammasome company developing orally available NLRP3 inflammasome inhibitors to address clinical unmet needs across a wide variety of inflammatory diseases
• Acquisition gives Roche full rights to the Inflazome portfolio
• Activation of the NLRP3 inflammasome in the body is implicated in many diseases caused by chronic, uncontrolled inflammation
• Inflazome shareholders received €380 million upfront, and are eligible to receive additional milestone payments

Naarden, The Netherlands 21 September 2020: Forbion, a leading European life sciences venture capital firm, notes that its portfolio company Inflazome announced today that it has closed a share purchase agreement with Roche (SIX: RO, ROG; OTCQX: RHHBY). Inflazome’s shareholders have received an upfront payment of €380 million and are eligible to receive additional contingent payments to be made based on the achievement of certain predetermined milestones.

Inflazome was founded in 2016 by leading medical researchers Prof Matt Cooper (University of Queensland, Australia) and Prof Luke O’Neill (Trinity College Dublin, Ireland). The company is a leader in the development of inflammasome inhibitors.

The acquisition gives Roche full rights to Inflazome’s entire portfolio which is composed of clinical and preclinical orally available small molecule NLRP3 inhibitors. Roche intends to further develop NLRP3 inhibitors across a wide variety of indications with high unmet medical need.

Matt Cooper, Chief Executive Officer, Inflazome, commented “We are delighted to close this deal with Roche, an outstanding pharmaceutical company with a broad commitment to multiple indications. With Inflazome now part of the Roche organization, Inflazome’s pioneering drugs are well positioned to be developed quickly and effectively so they can help patients suffering from debilitating diseases.”

Marco Boorsma, General Partner, Forbion, said “Having been the lead investor in Inflazome’s Series B fundraising in 2018, we are pleased to see this deal closed with Roche, a trusted partner, which leaves the Company well-positioned to unlock the potential of its NLRP3 inhibitors. We believe this transaction reflects well on the Forbion team to help companies grow and develop, and delivering excellent returns to our funds. We are delighted to have been part of Inflazome’s journey and will follow the development of Inflazome‘s promising compounds with great interest.”

Lazard acted as financial advisor and Goodwin Procter and Byrne Wallace acted as legal counsel to Inflazome.

For more information please contact:

Forbion contact:
Marco Boorsma, General Partner
P: +31 (35) 699 3000

Instinctif Partners for Forbion
Melanie Toyne-Sewell/Phillip Marriage/Kiki Zaccagnini
Email: forbion@instinctif.com

Notes to Editors

About Forbion
Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands, Germany and Singapore. Forbion invests in life sciences companies that are active in the (bio-) pharmaceutical space. Forbion’s investment team has built an impressive performance track record since the late nineties with successful investments in over 66 companies. Forbion manages well over EUR 1.25 billion across ten funds.

Forbion is a signatory to the United Nations Principles for Responsible Investment. Besides financial objectives, Forbion selects investments that will positively affect the health and well-being of patients.

Its investors include the EIF, through its European Recovery Programme (ERP), LfA, Dutch Venture Initiative (DVI), AMUF and EFSI facilities and KfW Capital through the Programme, “ERP – Venture Capital Fondsinvestments”.

Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany.
For more information, please visit: www.forbion.com.

About Inflazome
Inflazome is a biotech company leading the development of orally available drugs to address clinical unmet needs in inflammatory diseases by targeting inflammasomes. Inflammasomes are understood to drive many chronic inflammatory conditions, from Parkinson’s and Alzheimer’s to asthma, inflammatory bowel disease, chronic kidney disease, cardiovascular disease, arthritis and NASH. Inflazome has a portfolio of orally available small molecule NLRP3 inhibitors, with lead molecules having successfully completed Phase I clinical trials, as well as several high potential earlier-stage programmes.

Inflazome has raised €55m in Venture Capital financing from leading investors Forbion, Longitude Capital, Fountain Healthcare Partners and Novartis Venture Fund.

Inflazome is headquartered in Dublin, Ireland.

About the NLRP3 Inflammasome
Activated NLRP3 acts as a ‘danger sensor’ in the body to release the pro-inflammatory cytokines IL-1β, IL-18 and induce uncontrolled, lytic cell death (pyroptosis). These processes lead to chronic inflammation, and as such, NLRP3 has been implicated in a large number of diseases.

Utrecht (The Netherlands) and Philadelphia – Gilde Healthcare company Lava Therapeutics announced the closing of an oversubscribed $83 million (€71 million) Series C financing to fund the advancement of its pipeline and platform. The financing was co-led by new investors Novo Ventures and Sanofi Ventures, and included additional new investors Redmile Group LLC, Ysios Capital and BB Pureos Bioventures. In addition, current investors Gilde Healthcare, Versant and MRL Ventures Fund LLC participated significantly in the round.

“We are grateful to have attracted a high-quality syndicate of new investors complementing strong continued support of our existing investors. This financing provides meaningful capital to advance our bispecific gamma-delta T cell engager portfolio into multiple proof-of-concept clinical trials expected to start in 2021 for the treatment of solid tumors and hematologic malignancies,” said Stephen Hurly, chief executive officer of Lava Therapeutics. “We believe our targeted approach, leveraging the unique features of gamma9-delta2 T cells with innovative bispecific antibodies, will deliver novel T cell-based therapies offering advantages over today’s oncology treatments”.

Gamma-delta T cells are the natural surveillance cells of the immune system, continuously patrolling the human body for the identification and targeting of tumor cells. These cells bridge the innate with the adaptive immune system and are a largely untapped opportunity in cancer treatment. Lava Therapeutics’ bispecific gamma-delta T cell engager platform is harnessing the unique properties of these T cells creating a revolutionary truly tumor-targeted immunotherapy to improve outcomes for cancer patients.

Gilde Healthcare acted as lead investor in the first institutional investment round of €16M in 2018. Gilde Healthcare’s Operational Partner Prof. Dr. Paul Parren is actively involved as Head of R&D.

About Lava Therapeutics

Lava Therapeutics is developing a proprietary bispecific antibody platform that engages gamma-delta T cells for the treatment of hematological and solid cancers. The company’s first-in-class immuno-oncology approach activates gamma delta T cell upon binding to membrane-expressed tumor targets. Lava Therapeutics was founded in 2016 based on intellectual property originating from the Amsterdam University Medical Center. The company has established a highly experienced antibody research and development team located in Utrecht, the Netherlands and Philadelphia, USA. For more information, please visit www.lavatherapeutics.com.

About Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in fast growing companies active in digital health, medtech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. For more information, visit the company’s website at www.gildehealthcare.com.

15/09/2020 – 11:19 | Portfolio