Tag Archives: healthcare

Within3 Raises over $100 Million in Growth Funding to Fuel Rapid Global Expansion

Life science companies worldwide are using Within3 as their primary platform for enterprise-wide virtual communication

Within3, the leading enterprise-wide solution for life science collaboration and communication, closed over $100 million in growth funding in a financing round led by Insight Partners, with participation from Silversmith Capital Partners. The funding will be used to accelerate product innovation, build infrastructure to outpace growing demand, and fuel international expansion.

20 out of the top 20 pharmaceutical companies already use Within3 for global collaboration to bring drugs to market more quickly, publish clinical studies, host advisory boards and engage virtually on any business initiative with multi-stakeholder involvement. With users in over 150 countries and thousands of implementations worldwide, Within3 is the pioneer in enabling complex virtual communication in a secure environment. Each implementation is carefully designed to drive business outcomes and allows asynchronous participation supplemented with real-time touchpoints. Always-available reporting and analytics ensure real-time alignment of program goals. Within3’s unique combination of real-time and over-time communication drive the highest level of engagement and strong, measurable business results across the enterprise.

“Global demand for our solution is surging at an unprecedented rate,” said Lance Hill, CEO of Within3. “Life science companies are looking for virtual work solutions that exceed the level of engagement of traditional live interactions, meet all their compliance needs, and that will scale across the enterprise. They have found that solution with Within3.”

“The funding will allow us to accelerate our growth and product pipeline to continue to meet the growing demand from the market,” continued Hill. “We will be able to accelerate new innovations in our product roadmap and bring our customers smarter, more innovative solutions faster.”

“Investment opportunities in companies like Within3 don’t come around very often,” said Deven Parekh, Managing Director at Insight Partners. “The company has seen explosive growth over the last 12 quarters and continues to break new records each month. Their unparalleled ability to enable companies to achieve the results they desire faster and cheaper, and scale across the enterprise solving complex problems in all divisions of an organization sets them apart from other virtual engagement solutions. At a time when collaboration, communication and cooperation are more critical than ever across the global life sciences ecosystem, we are excited to bring our strategic operations expertise to help Within3 scale.” Parekh, along with Insight Partners’ Managing Directors Adam Berger and Ross Devor will join Within3’s board.

With over 80 compliance features, translation into more than 100 languages and a world-class client success team that is a part of every single implementation, life science companies are turning to Within3 as an enterprise-wide solution and their primary resource for stakeholder engagement.

Aeris Partners LLC served as the exclusive financial advisor to Within3. Willkie Farr & Gallagher served as legal advisors to Insight, and Kirkland and Ellis represented Silversmith Capital Partners.

ABOUT WITHIN3

Within3 invented a better way for life sciences companies to have conversations with the people who matter most—from doctors to patients to payers, and more. Our virtual engagement platform gives stakeholders the freedom to communicate anytime, anywhere, on any device. With practical tools to foster meaningful discussions and a dedicated client success team on every project, most Within3projects achieve 100% stakeholder participation. Learn more at www.within3.com or follow us on Twitter @Within3.

ABOUT INSIGHT PARTNERS

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.

ABOUT SILVERSMITH CAPITAL PARTNERS

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $1.1 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies.

Contacts

Whitney Hausmann
whausmann@within3.com

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CDPQ co-invests with EQT in Colisée, a European leader in elderly care

Cdpq

nfrastructure Montréal,

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CDPQ’s investment alongside EQT Infrastructure V (EQT Infrastructure, majority shareholder) and Colisée’s management team will enable the company to consider new growth opportunities, including in new markets, while consolidating its high-quality care and services offering.Headquartered in Paris, Colisée currently operates more than 270 nursing home facilities as well as home care services agencies, mainly in France, Belgium, Spain and Italy. In addition to nursing home facilities, Colisée has diversified its offering to provide more services to help the elderly. The company employs more than 16,000 people and has annual revenues of over €1 billion.

This stake is the culmination of talks with Colisée management that began in 2019 and is part of CDPQ’s enhanced infrastructure investment strategy in Europe. As a long-term investor, CDPQ will support Colisée in its development plan, which takes into account major trends such as the aging population and growing demand for elder care services.

“For CDPQ, this acquisition represents a significant investment in health care infrastructure, an essential sector where needs are growing and where Colisée is well positioned,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. “Colisée’s excellent track record in terms of quality of care and resident well-being is a crucial element of this partnership, and is consistent with our ESG approach.”

“With the support of a long-term investor like CDPQ, Colisée will continue developing its elder care services. CDPQ shares common values with our company, and social responsibility is at the heart of its mission,” stated Christine Jeandel, President of Colisée.

“EQT Infrastructure is proud to have the participation of a high-quality partner such as CDPQ for this investment in social infrastructure, a thematic investment for EQT. With CDPQ’s investment alongside EQT Infrastructure, Colisée will benefit from shareholders who can support the group’s strong growth over the long term, said Ulrich Köllensperger, Partner and Thomas Rajzbaum, Managing Director at EQT Partners and investment advisors at EQT Infrastructure.

The transaction is subject to regulatory approvals. The financial terms of the transaction were not disclosed.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2020, it held CA$333.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

ABOUT COLISÉE

Colisée is a key player in the global health care and old-age dependency sector, and has developed a real expertise in elderly people care and well-being. Its network includes 270 facilities in France, Belgium, Spain and Italy. Colisée employs more than 16,000 people. For more information: www.groupecolisee.com.

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. For more information: www.eqtgroup.com. Follow EQT on LinkedIn, Twitter, YouTube and Instagram.

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BGF welcomes successful exit of Brindley Healthcare

BGF

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.

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Longitude Capital raises $585 Million Fund to invest in transformative healthcare companies

longitude-capital

– Longitude Venture Partners IV will build on the Firm’s commitment to improve clinical outcomes, enhance patient quality of life, and drive efficiency in healthcare delivery –

– In 2020 to date, Longitude portfolio companies announced 4 IPOs and 3 M&A transactions –

MENLO PARK, Calif., GREENWICH, Conn., and BOSTON, Mass., September 23, 2020: Longitude Capital, a leading healthcare venture capital firm, today announced the closing of Longitude Venture Partners IV, L.P. (“LVP4”), with $585 million in capital commitments. LVP4, the largest fund that Longitude Capital has raised to date, will build on the proven strategy of its predecessor funds by investing in biotechnology, medical technology, and health solutions companies that seek to transform the healthcare industry.

“We are in the golden era of medical and biological innovation. The significant unmet clinical needs and the inefficiencies of our current healthcare system are driving meaningful scientific breakthroughs and creative solutions,” said Patrick Enright, co-founder and Managing Director of Longitude Capital. Since inception in 2006, Longitude Capital has raised nearly $2 billion in cumulative capital commitments and managed over 30 company exits. “We are fortunate to have helped build many successful healthcare companies and look forward to working alongside the next wave of entrepreneurs and scientists to advance critical medicines, devices, and health solutions to the marketplace.

” Juliet Bakker, co-founder and Managing Director of Longitude Capital, added, “We are thankful for the continued support of, and partnerships with, our investors who value our differentiated venture growth investing approach, experienced team, and passion for forging new frontiers in healthcare.

” LVP4 will invest opportunistically across all stages of a company’s development through a variety of approaches that include traditional venture capital investing and special situations such as spin-outs, equitylinked transactions, and private investments in public equities. Many of these investments stem from Longitude’s proprietary research of targeted healthcare sectors, therapeutic areas, and technologies of interest. Longitude Capital’s recent Initial Public Offerings (IPOs) and exits include 89bio (NASDAQ: ETNB), Aimmune (NASDAQ: AIMT, recently agreed to be acquired by Nestlé Health Science), Axonics Modulation Technologies (NASDAQ: AXNX), Checkmate Pharmaceuticals (NASDAQ: CMPI), Inflazome (acquired by Roche), Inozyme Pharma (NASDAQ: INZY), KaNDy Therapeutics (acquired by Bayer), Molecular Templates (NASDAQ: MTEM), Poseida Therapeutics (NASDAQ: PSTX), and Vaxcyte (NASDAQ: PCVX).

About Longitude Capital Longitude Capital is a leading healthcare venture capital firm, that invests in transformative biotechnology, medical technology, and health solutions companies seeking to improve clinical outcomes, enhance quality of life, and drive efficiency of healthcare delivery. Founded in 2006, Longitude Capital invests in both privately held and publicly traded companies through a variety of investment approaches. Longitude Capital has offices in Menlo Park, CA, Greenwich, CT, and Boston, MA. For more information, including a complete listing of investments, please visit www.longitudecapital.com.

About Longitude Capital Recent IPOs and Exits • 89bio is a biopharmaceutical company developing and commercializing innovative therapies for the treatment of liver and cardio-metabolic diseases. 89bio was originally spun out of Teva Pharmaceuticals in 2018 by founding investors Longitude Capital and OrbiMed, and completed its IPO in November 2019. www.89bio.com.

• Aimmune is a biopharmaceutical company developing and commercializing treatments for potentially lifethreatening food allergies. Aimmune’s PALFORZIA® is the world’s first approved treatment for peanut allergy. Longitude Capital was the founding institutional investor of Aimmune. In 2020, Aimmune agreed to be acquired by Nestlé Health Science for $34.50 per share in cash, representing a total equity value of $2.6 billion. www.aimmune.com.

• Axonics Modulation Technologies is a medical technology company developing and commercializing novel implantable rechargeable sacral neuromodulation (SNM) devices for patients with urinary and bowel dysfunction. In 2018, Longitude Capital led a $40 million financing that preceded the company’s IPO later that year. www.axonics.com.

• Checkmate Pharmaceuticals is a clinical-stage biopharmaceutical company developing proprietary technology to harness the power of the immune system to combat cancer. In 2020, Longitude Capital and Novo Holdings led the company’s $85 million Series C financing that preceded the company’s IPO later in the year. www.checkmatepharma.com.

• Inflazome is a biotechnology company developing small molecules that block harmful inflammation by targeting inflammasomes, protein complexes that generate signals in order to activate an immune response. In 2020, Inflazome announced its acquisition by Roche for an upfront payment of €380 million, and potential predetermined milestone payments. www.inflazome.com.

• Inozyme Pharma is a rare disease pharmaceutical company developing novel therapeutics for the treatment of diseases of abnormal mineralization. Longitude Capital led Inozyme’s $49 million Series A financing in 2017, and was joined by New Enterprise Associates, Novo Holdings, and Sanofi Ventures. Inozyme completed its initial public offering in 2020. www.inozyme.com.

• KaNDy Therapeutics was a UK-based clinical-stage company focused on optimizing the potential of its unique NK-1,3 receptor antagonist NT-814 to treat common, chronic debilitating conditions related to menopause. In 2020, KaNDy Therapeutics was acquired by Bayer Pharmaceuticals for an upfront payment of $425 million, and a potential $450 million in R&D, regulatory milestones and additional commercial milestones.

• Molecular Templates is a clinical-stage company focused on the discovery and development of targeted biologic therapeutics. In 2017, Longitude Capital led Molecular Template’s $40 million PIPE (private investment into public equity) financing. Molecular Templates now has strategic collaborations with Takeda Pharmaceuticals and Vertex Pharmaceuticals. www.mtem.com.

• Poseida Therapeutics is a clinical-stage biopharmaceutical company dedicated to utilizing its proprietary gene engineering platform technologies to create next generation cell and gene therapeutics with the capacity to cure various cancers. Longitude Capital led Poseida’s $30 million Series B financing in 2018. Poseida completed its IPO in 2020. www.poseida.com.

• Vaxcyte is a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide. Longitude Capital invested in Vaxcyte’s $22 million Series A financing and served on the Board of the company through its IPO in 2020. www.vaxcyte.com. About Longitude Capital Recent Investments • Eargo is a medical device company dedicated to improving the quality of life of people with hearing loss. Longitude Capital and Gilde Healthcare led Eargo’s $81 million Series E financing in 2020. www.eargo.com.

• Epirium Bio is a clinical-stage biopharmaceutical company that uses insights related to the biology of mitochondrial function and tissue regeneration to pursue novel and clinically significant therapeutic approaches for neuromuscular, neurodegenerative, and mitochondrial disorders. Longitude Capital and ARCH Venture Partners led Epirium’s $85 million Series A financing in 2019. www.epirium.com.

• Polares Medical is a clinical-stage medical technology company focused on the development of a unique trans-catheter mitral valve hemi-replacement system to treat patients suffering from mitral regurgitation (MR). Longitude Capital led Polares Medical’s $40 million Series B financing in 2020. www.polaresmedical.com.

• WelbeHealth is a services company dedicated to unlocking the full potential of vulnerable seniors through PACE (Program of All-Inclusive Care for the Elderly), a comprehensive medical and social care model. Longitude Capital and .406 Ventures led WelbeHealth’s $30 million Series C in 2020. www.welbehealth.com.

Source: Longitude Capital

Contact Information Maggie Jamison Longitude Capital 650-854-5700 mjamison@longitudecapital.com

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Salvia BioElectronics raises EUR 26M (USD 31M) to develop innovative neurostimulation therapy for chronic migraine

Inkef Capital

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

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GeneWerk GmbH Announces Growth Equity Investment from Ampersand Capital Partners

GeneWerk will expand capabilities to meet rapidly growing demand for cell and gene therapy testing services

HEIDELBERG, Germany, Sept. 21, 2020 /PRNewswire/ — GeneWerk GmbH, a cell and gene therapy testing laboratory focused on providing preclinical and clinical trial patient sample analysis services, today announced a majority investment from Ampersand Capital Partners, a private equity firm specializing in growth equity investments in the healthcare sector.  Ampersand’s growth investment will be used to expand GeneWerk’s capabilities to meet rapidly growing demand for cell and gene therapy testing services.

GeneWerk provides cell and gene therapy sponsors with patient testing services in compliance with guidance by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).  The company is recognized as a leading provider of vector integration site analysis (ISA) services, a method that was developed by GeneWerk’s founders and that the FDA and EMA recommend performing after the administration of both integrating and non-integrating cell and gene therapies.  The company’s test menu also includes vector persistence testing, gene edited off-target analysis, vector copy number (VCN), vector quality control, immune repertoire analysis, and dedicated bioinformatics studies.  With a focus on vector safety, characterization, and functionality analysis, the company’s 30 employees work in compliance with GCP and in line with GLP standards in a BSL-2 classified state-of-the-art genomics and bioinformatics laboratory in Heidelberg, Germany.

Annette Deichmann, Ph.D., Co-Founder and Co-CEO at GeneWerk commented, “With the benefit of Ampersand as our partner, GeneWerk will strengthen and expand its position in the U.S. and European markets while further investing in our testing capabilities to service cell and gene therapy sponsors and patients.”  Co-Founder and Co-CEO Manfred Schmidt, Ph.D., then added, “Our partnership with Ampersand solidifies GeneWerk’s position in the space and will allow the company to continue to exceed our customers’ expectations by facilitating the development of innovative cell and gene therapies.  We are very pleased to have Ampersand on board as we take GeneWerk through its next phase of growth.” Christof von Kalle, M.D., Co-Founder concluded, “This will greatly further GeneWerk’s opportunities to contribute to medical breakthroughs and patient safety.”

Marina Pellon-Consunji, Principal at Ampersand said, “GeneWerk is a leading company in its field.  Given the exciting developments within the cell and gene therapy market and recent guidance by FDA and EMA, this is an excellent time for an investor with deep experience in cell and gene therapy to partner with the company.  We are looking forward to working with the team at GeneWerk to accelerate and continue its success in delivering leading testing services to ensure the safety of patients receiving cutting edge cell and gene therapies.”

About GeneWerk GmbH

Founded in 2014 by Prof. Dr. Christof von Kalle, Dr. Manfred Schmidt, and Dr. Annette Deichmann with the participation of the German Cancer Research Center (DKFZ) Heidelberg, GeneWerk is a cell and gene therapy testing laboratory focused on providing preclinical and clinical trial patient sample analysis services.  The company is recognized as a leading provider of vector integration site analysis (ISA) services, a method that was developed by the company’s founders and that the FDA and EMA recommend performing after the administration of both integrating and non-integrating cell and gene therapies.  For more information, please visit www.genewerk.com.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. Additional information about Ampersand is available at ampersandcapital.com.

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Ampersand Capital Partners Acquires American Laboratory Products Company

SALEM, N.H., Sept. 21, 2020 /PRNewswire/ — American Laboratory Products Company, Ltd. (ALPCO), a specialty in vitro diagnostics company, today announced the majority recapitalization of the company by Ampersand Capital Partners. Ampersand’s investment will be used to support ALPCO’s worldwide growth initiatives, including the expansion of the company’s diagnostics test kit offering, broadening the company’s geographic presence, and fueling internal R&D product development and production operations.

ALPCO is a Salem, NH-based in vitro diagnostics company that offers specialty immunoassay products (IVD and RUO) primarily focused on the clinical gastroenterology and diabetes research segments. Founded in 1990 by Richard and Jan Conley as an importer and distributor of immunoassay-based products for the North American life science markets, the company is now a leading global provider of both distributed and proprietary diagnostics products. As part of the transaction, Richard and Jan Conley will remain shareholders in the company, and Sean Conley will continue to lead the business as CEO. ALPCO has also announced the appointment of Larry McCarthy, PhD as Chairman of the company’s Board of Directors.

“We are very excited to partner with Sean and his team to continue to grow the business,” stated Eric Lev, General Partner at Ampersand. “With our operating and investment experience within the laboratory products and diagnostics markets, coupled with an injection of growth capital, we believe that ALPCO is poised to be a market leader in specialty immunoassay products worldwide.”

Sean Conley added: “We have always been committed to offering our customers the solutions they need to both advance the quality of care and enable better medical research. I am confident that this partnership with Ampersand will allow us to grow as an organization and better serve our customers as we invest in our infrastructure and service offering.”

About American Laboratory Products Company

Founded in 1990, American Laboratory Products Company (ALPCO) began as an importer and distributor of immunoassay-based products for the North American life science markets. The company is now a premier provider of proprietary and distributed diagnostics solutions, with over 60 collaborating partners from around the globe. While our vision has evolved to serve a broader segment of life science research and healthcare professionals, our mission to deliver “Scientific Solutions for Life” remains the same.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience in seeking to build value and drive strong long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. Additional information about Ampersand is available at ampersandcapital.com.

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Forbion portfolio company, Inflazome acquired by Roche

Forbion

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.

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Carlyle Makes Strategic Growth Investment in TriNetX; Acquires Majority Stake in Leading Global Health Research Network

Carlyle

Investment will Accelerate Development of New Clinical Research Capabilities for Healthcare Organizations and Life Sciences Customers, With the Aim of Capitalizing on Both Organic and Inorganic Growth Opportunities

NEW YORK and Cambridge, MA, September 21, 2020 — TriNetX (www.trinetx.com), the leading global health research network optimizing clinical research to bring new therapies to market faster, today announced global investment firm The Carlyle Group (NASDAQ: CG) has made a strategic growth investment and will acquire a majority stake in the Company. Terms of the transaction were not disclosed.

Since its founding in 2013, TriNetX has built the largest global network of research hospitals and academic institutions, top biotech and pharmaceutical companies, contract research organizations (CROs) and other specialty data partners. TriNetX is powered by an impressive network of 170 healthcare organizations in 30 countries and used by more than 40 life sciences organizations including 15 of the world’s top 20 pharmaceutical companies.

“Our goal is to be on the desktop of every healthcare researcher in the world,” said Gadi Lachman, CEO of TriNetX. “To accomplish this we need to continue to develop solutions to support clinical research at our healthcare organizations and bring more global data and technologies such as AI, machine learning and analytics to researchers so that they can ask more questions and generate more real-world evidence. Carlyle’s investment accelerates our growth plans and will shorten the time it takes to turn our vision into reality.”

TriNetX enables researchers to apply a data-driven approach to health research by providing web-based, on-demand access to harmonized global electronic health record (EHR) and claims data with a suite of highly intuitive analytics. TriNetX is utilized in all parts of the drug development cycle, including protocol design and feasibility, site selection and patient identification for clinical trials, as well as serving clinical research for drugs already in the market to help researchers understand efficacy, risks and other market dynamics and to generate real-world evidence (RWE) to support hypothesis and decision making, in real-time.

The longitudinal clinical and claims data representing over 400 million patients available through TriNetX is mapped to controlled terminology and consists of clinical facts from hundreds of healthcare organizations around the world, deep specialty data for all therapeutic areas, including COVID-19, cardiovascular, oncology, and rare disease, and linked medical claims, pharmacy claims and EHR data.

“With a deep clinical focus and a highly scalable data strategy, we believe TriNetX is well positioned for continued organic and inorganic growth opportunities,” said Joe Bress, a Principal specializing in healthcare at The Carlyle Group. “We’re excited to partner with Gadi and the TriNetX management team to help expand their global footprint and continue investing in the company’s mission to advance the collective understanding of human health.”

The investment in TriNetX is a continuation of Carlyle’s long-term global commitment to healthcare, in which it has invested more than $15 billion of equity since inception. Equity capital for the investment came from Carlyle Partners VII, an $18.5 billion fund that makes majority and strategic minority investments primarily in the U.S. in targeted industries, including healthcare.

SVB Leerink served as exclusive financial advisor to TriNetX.

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About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $221 billion of assets under management as of June 30, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 31 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

About TriNetX 

TriNetX is the global health research network that connects the world of drug discovery and development from pharmaceutical company to study site, and investigator to patient by sharing real-world data to make clinical and observational research easier and more efficient. TriNetX combines real time access to longitudinal clinical data with state-of-the-art analytics to optimize protocol design and feasibility, site selection, patient recruitment, and enable discoveries through the generation of real-world evidence. The TriNetX platform is HIPAA and GDPR compliant. For more information, visit TriNetX at http://www.trinetx.com or follow @TriNetX on Twitter.

Media Contacts:

Brittany Berliner
Brittany.Berliner@carlyle.com
+1 (212) 813 4839

Jennifer Haas
Jennifer.haas@trinetx.com
+ 1 (978) 697 3921

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TowerBrook announces sale of ICS to Onex Corporation

TowerBrook Capital Partners today announces that it has closed the sale of Independent Clinical Services (“ICS”) to Onex Corporation (“Onex”).

ICS provides specialised staffing, workforce management solutions and managed services to the healthcare, social-care and life sciences sectors internationally. Active across four continents, the company plays a vital role in private and public healthcare systems, providing solutions to address the structural imbalances between workforce supply and demand, and delivering preventative care and community services that support hospitals and other healthcare providers, as well as the clinical activities of life sciences companies.

TowerBrook will re-invest a portion of its proceeds from the sale of ICS back into the company and looks forward to partnering with Onex and the ICS management team to support the company in its future growth and development.

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