Closings

PreciThera, Inc. Completes $36 Million Series A Financing

PreciThera, Inc. Completes $36 Million Series A Financing

Funding to develop novel biologics targeting orphan bone diseases into clinical trials

MONTREALJuly 27, 2017 /CNW/ — PreciThera, Inc. a privately-held, precision medicine company, dedicated to the design and development of innovative biological therapeutics for the treatment of orphan bone diseases, today announced the completion of a Series A Financing of CAD$36 million (US$29 million).  Investors participating in the financing include Sanderling Ventures, Arix Bioscience, Fonds de solidarité FTQ, CTI Life Sciences and Emerillon Capital.

Proceeds of the Series A financing will be used to develop novel molecules and to advance PreciThera’s lead candidate through IND and into clinical studies with the goal to establish clinical proof of concept and identify a path to registration.

PreciThera is focusing on orphan bone diseases that cannot be treated via traditional protein replacement therapies. The company utilizes a combination of informatics-based tools to combine information from RNA sequencing and from genomic and clinical databases to validate the major pathway responsible for clinical symptoms in rare genetic disorders. Its precision medicine strategy is particularly well-suited to address genetic diseases that, until now, were classified based on their clinical manifestations and treated with non-specific agents. By leveraging both a novel understanding of the biology of these disorders and its precision medicine strategy, PreciThera aims to achieve truly disease-modifying outcomes for patients.

Industry veterans and scientific experts Dr. Philippe Crine and Dr. Susan Schiavi founded Montreal, Canada-based PreciThera in 2016. Prior to PreciThera, Dr. Crine founded Enobia Pharma, which advanced its lead product, asfotase alfa, into clinical development for treatment of the orphan bone disease hypophosphatasia. Enobia Pharma was acquired for $1.1B in 2012 by Alexion, which now markets the product as Strensiq. Dr. Schiavi brings bone and metabolic disease expertise from her many years as director of Genzyme’s Bone and Mineral Metabolism team in support of the company’s blockbuster drug, Renvela.

Quotes

Dr. Philippe Crine, co-founder of PreciThera, said: “We are grateful for the support of these premier healthcare investors who believe in our vision of novel therapeutic strategies for rare diseases and the potential of precision medicine for speeding up and de-risking drug development in this rapidly expanding area of the pharmaceutical industry. Our mission is to provide highly innovative and life changing therapies to patients with heterogeneous genetic diseases affecting the skeleton who had up to now no or inadequate therapeutic options.”

Pierre Beauparlant, chief executive officer of PreciThera, commented: “This fundraising validates the potential that investors see in PreciThera’s approach. The decision to support the company’s efforts was based on strong scientific research, combined with the great market potential for the company’s drug candidates.”

Peter McWilliams, Ph.D., managing director of Sanderling Ventures, said: “We are pleased to be part of this oversubscribed Series A financing combining a strong syndicate of Quebec based and US based investors to launch PreciThera, another important new venture enhancing the vibrant life science innovation ecosystem in Quebec.”

About Sanderling Ventures
Sanderling Ventures is one of the oldest investment firms dedicated to building new biomedical companies. Sanderling emphasizes early-stage financing and active management of its portfolio companies. Its principals play an active role in new ventures by providing seed and early-stage funding, contributing management leadership and administrative support, developing cost-control strategies to extend available dollars, supplying technical and regulatory expertise where needed, and offering the insight and perspective of those who have “done it before.”
For further information, please visit www.sanderling.com

About Arix Bioscience plc
Arix Bioscience plc is a global healthcare and life science company supporting medical innovation. Headquartered in London and with an office in New York, Arix Bioscience sources, finances and builds world class healthcare and life science businesses addressing medical innovation at all stages of development. Operations are supported by privileged access to breakthrough academic science and strategic relationships with leading research accelerators and global pharmaceutical companies.
Arix Bioscience plc is listed on the Main Market of the London Stock Exchange.
For further information, please visit www.arixbioscience.com

About the Fonds de solidarité FTQ
Fonds de solidarité FTQ is a development capital investment fund that channels the savings of Quebecers into investments. As at May 31, 2017, the organization had $13.1 billion in net assets, and through its current portfolio of investments has helped create and protect 186,440 jobs. The Fonds is a partner in more than 2,700 companies and has 645,664 shareholder-savers.
For further information, please visit http://www.fondsftq.com

About CTI Life Sciences
Based in Montréal, CTI Life Sciences, is a Canadian venture firm that invests in high quality emerging life sciences companies at the pre-clinical and clinical development stage in Canada and in the U.S. CTI Life Sciences has $245 million in assets under management.
For further information, please visit http://www.ctisciences.com

About Emerillon Capital
Based in Montreal, Emerillon Capital is a venture capital fund dedicated to investing and supporting companies with strong technological expertise that are positioned in sectors with strong growth potential. It aims to accelerate commercial start-up and support their expansion. Emerillon Capital invests primarily in Canada. By leveraging the network of CIC Capital, the Canadian subsidiary of CM-CIC Investissement, its lead sponsor, Emerillon Capital offers entrepreneurs a gateway to support their development projects in Europe.
For more information, visit www.emerilloncapital.com/en/

About PreciThera, Inc.
PreciThera, Inc. is a biotechnology company committed to the development of therapies for rare bone diseases using the combined application of computational technology and a deep understanding of disease pathology. The company focuses on heterogeneous genetic disorders that primarily manifest in bone dysfunction. Understanding of novel biology will allow PreciThera’s targeted strategies to meaningfully impact both the skeletal symptoms as well as the extraskeletal issues found in these patients.
For further information, please visit www.precithera.com

For more information, please contact:

PreciThera, Inc.
Pierre Beauparlant, CEO
pbeauparlant@precithera.com
Tel: (514) 700-0764 x 230

Media Relations:
Russo Partners
Alex Fudukidis
alex.fudukidis@russopartnersllc.com
Tel: (646) 942-5632

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SOURCE PreciThera, Inc. 

SutroVax Announces Closing of $64M via Series B Financing

SutroVax Announces Closing of $64M via Series B Financing

  • Announces achievement of pre-clinical proof-of-concept with lead program: Potential best-in-class pneumococcal conjugate vaccine
  • Advancing lead into IND-enabling development to obtain clinical proof-of-concept

Foster City, CA, March 21, 2017SutroVax, a biopharmaceutical company dedicated to the delivery of best-in-class conjugate vaccines and novel complex antigen-based vaccines to prevent serious infectious diseases, today announced the closing of a $60 million Series B financing. The financing was led by new investors Frazier Healthcare Partners and Pivotal bioVenture Partners, and included participation from all existing investors: Abingworth, Longitude Capital, Roche Venture Fund and CTI Life Sciences Fund. In addition to Series B funds raised, the Company’s existing investors are investing an additional $4 million in SutroVax.

SutroVax will use the proceeds from this financing to advance its lead pneumococcal conjugate vaccine (PCV), which prevents invasive pneumococcal disease caused by Streptococcus pneumoniae, and accelerate the Company’s antigen discovery and early-stage development efforts in other disease areas. SutroVax’s broad-spectrum PCV is designed to provide expanded protection against circulating strains of pneumococcus and has the potential to replace the current vaccines used in infants and adults. SutroVax has generated pre-clinical proof-of-concept in head-to-head studies with its broad-spectrum PCV compared to current vaccines using well accepted immunological endpoints.

“The closing of this round, which was highly competitive and oversubscribed, is an important milestone for SutroVax and reflects the significant achievements we have made in developing a pneumococcal conjugate vaccine product candidate with the potential to disrupt a market with annual sales of over $7 billion,” said Grant Pickering, CEO of SutroVax. “This financing enables us to advance our lead PCV program into the clinic and expand our R&D, clinical development and manufacturing organizations.”

SutroVax conjugate vaccines are developed utilizing the Company’s exclusive rights to Sutro Biopharma’s Xpress CF Platform, a cell-free protein synthesis technology. The platform represents a major advancement over conventional conjugate vaccine production methods, by enabling precise and consistent conjugation of antigens to site-specific locations on a protein carrier that do not impede T-cell help resulting in higher-potency conjugates. SutroVax is utilizing these more potent conjugates to develop a broader-spectrum PCV product.

“Frazier Healthcare Partners has followed SutroVax’s progress since its founding and is delighted to make SutroVax its first vaccine investment,” stated Patrick Heron, Managing General Partner.

 

Tachi Yamada, M.D., Frazier Venture Partner, former President of the Bill & Melinda Gates Foundation Global Health Program and former head of GlaxoSmithKline and Takeda Pharmaceuticals R&D added, “SutroVax’s lead product candidate and technology platform has the potential to deliver the next generation of vaccines for major infectious diseases including pneumococcal disease.”

 

“We are pleased to make SutroVax the pioneer investment from Pivotal bioVenture Partners, our recently closed inaugural fund. I am delighted to join with the preeminent group of life sciences investors backing the company,” said Tracy Saxton, Ph.D., Managing Partner. “We are excited by the Company’s differentiated approach and ground-breaking progress in developing a potential best-in-class pneumococcal conjugate vaccine to provide coverage of circulating pathogenic strains outside of the current standard of care.”

 

As part of the financing, Patrick Heron and Tracy Saxton will join the SutroVax Board of Directors.

 

About Frazier Healthcare Partners

 

Founded in 1991, Frazier Healthcare Partners is a leading provider of growth and venture capital to healthcare companies. With nearly $3.0 billion total capital raised, Frazier has invested in over 170 companies, with investment types ranging from company creation and venture capital to buyouts of profitable lower-middle market companies. The firm’s Growth Buyout team invests in healthcare and pharmaceutical services, medical products and related sectors. The Life Sciences team invests in therapeutics and related areas that are addressing unmet medical needs through innovation. Frazier has offices in Seattle, WA and Menlo Park, CA, and invests broadly across the US, Canada, and Europe.

 

About Pivotal bioVenture Partners

 

Pivotal bioVenture Partners is a newly launched, San Francisco-based venture capital firm investing in early stage biotechnology companies. Pivotal closed a $300 million fund, and its investment strategy is centered on identifying companies developing differentiated science from discovery to early clinical development with the potential to deliver transformative therapies. The Pivotal team includes experienced life science investors and entrepreneurs with a track record of venture investing and scientific acumen.

 

About Pneumococcal Disease and the Pneumococcal Vaccine Market

 

Pneumococcal disease is an infection caused by Streptococcus pneumoniae. This infection can cause a wide range of serious illnesses including pneumonia, meningitis and blood stream infection as well as ear and sinus infections. According to the Centers for Disease Control and Prevention (CDC), an estimated 900,000 Americans suffer from pneumococcal pneumonia each year and up to 400,000 hospitalizations occur in the US.  In addition, about 18,000 older adults die each year from pneumococcal disease in the U.S. The market-leading vaccine is a 13-valent PCV, Prevnar 13®, that has worldwide sales of approximately $6 billion annually yet does not protect against a significant number of circulating strains of pneumococcus causing invasive disease in adults and children. In the U.S., the CDC’s Advisory Committee on Immunization Practices (ACIP) recommends all children aged two months to five years and immunocompromised children aged six years and older be vaccinated with Prevnar 13®.  In addition, the ACIP recommends all adults aged 65 years and older and immunocompromised adults aged 19 years and older be vaccinated with Prevnar 13®and Pneumovax®, a 23-valent non-conjugate vaccine with over $600 million in annual sales.

 

About SutroVax

 

SutroVax is an independent vaccine platform and development company whose mission is to deliver best-in-class conjugate vaccines and novel complex antigen-based vaccines to prevent serious infectious diseases. The company is leveraging its exclusive license to Sutro Biopharma’s Xpress CF platform to perform cell-free protein synthesis and site-specific conjugation for the field of vaccines. For more information, visit www.sutrovax.com.

 

# # #

 

Contact:

Julie Rathbun

Rathbun Communications

206-769-9219

julie@rathbuncomm.com

 

 

CellAegis Devices raises $12.8 mln in CTI-led Series C round

CellAegis Devices raises $12.8 mln in CTI-led Series C round


CellAegis Devices (Toronto, Canada) has patented and developed the non-invasive autoRIC Device, which delivers Remote Ischemic Conditioning (RIC) therapy to patients with acute and chronic cardiovascular conditions. © 2000–2015 CellAegis® Devices Inc. All rights reserved.

Toronto medical device company CellAegis Devices Inc has secured about $12.8 million (US$9.5 million) in a Series C financing. The round was led by Canadian venture capital firm CTI Life Sciences Fund and co-led by an undisclosed U.S. strategic investor. MaRS Catalyst Fund, Broadview Ventures and several family offices also invested. With the deal, Dr. Shermaine Tilley, a CTI managing partner, and Broadview’s Christopher Colecchi have joined the board. CellAegis has developed the non-invasive autoRIC Device, which delivers therapy to patients with cardiovascular conditions. It will use the funds raised to support U.S. clinical testing and commercialization.

PRESS RELEASE

CellAegis Devices Announces US$9.5 Million Financing to Support Clinical and Regulatory Advancement of its autoRIC® Device

TORONTO, March 14, 2017 /PRNewswire/ – CellAegis Devices Inc, a Toronto-based medical device company, today announced closing a US$ 9.5 million Series C financing to support a U.S. clinical trial and de novo 510(k) regulatory filing for marketing of its autoRIC Device as an adjunct therapy to stenting. This device automatically delivers Remote Ischemic Conditioning (RIC) to provide a non-invasive, cardio-protective therapy shown to reduce heart damage during heart attacks and other cardiovascular procedures. The autoRIC Device is approved by Health Canada and in Europe where it is being used in multiple large investigator-sponsored trials to assess its efficacy in reducing clinical events after a heart attack.

The financing was led by CTI Life Sciences Fund, a leading Canadian venture capital investor, and co-led by a U.S. based strategic investor. Other investors included MaRS Catalyst Fund, Broadview Ventures and strategic family offices.
Dr. Shermaine Tilley, Managing Partner in CTI Life Sciences Fund, and an appointee from the US Strategic will join CellAegis’ board of Directors. Christopher Colecchi, from Broadview Ventures’, will also serve as a Director.

“We are ready to advance clinical commercialization of autoRIC Device in the EU and Canada, complete the FDA trial and gain approval to open the US market,” said Rocky Ganske, Chief Executive Officer of CellAegis Devices. “This financing adds the experience of seasoned Canadian and U.S. medical technology investors, and demonstrates the support of our existing investors.”

Dr. Tilley stated, “CTI Life Sciences Fund is enthusiastic to provide capital to CellAegis at this important juncture in the company’s development. The autoRIC Device shows promise in significantly improving outcomes in cardiovascular and other organ systems following ischemic events such as heart attacks, and we look forward to facilitating its clinical testing and regulatory submission for the U.S. market.”

*CellAegis autoRIC Device is not cleared or approved for clinical use in the United States.

About CellAegis Devices.
CellAegis Devices (Toronto, Canada) has patented and developed the non-invasive autoRIC Device, which delivers Remote Ischemic Conditioning (RIC) therapy to patients with acute and chronic cardiovascular conditions. This medical procedure protects the heart as well as other organs from ischemia and reperfusion injury. The autoRIC Device has CE Mark and Health Canada approvals for treatment during heart attacks, cardiothoracic or surgical procedures. Investigator sponsored clinical research studies for chronic conditions such as heart failure and stroke are also underway. The autoRIC Device was developed from the clinical work of Dr. Andrew Redington and colleagues at the Hospital for Sick Children in Toronto, and funded in part by the Fondation Leducq’s Transatlantic Networks of Excellence.

About CTI Life Sciences Fund.
CTI Life Sciences Fund L.P. was created in 2006 and is based in Montreal. The firm makes venture capital investments mostly in high quality biotech and medtech companies at the pre-clinical and clinical development stages, in North America, and primarily in Canada. Since its second mandate in 2014, CTI Life Sciences Fund manages $245 million of assets. For more information, please visit www.ctisciences.com.

About Broadview Ventures.
Broadview’s mission is to accelerate the development of promising technology for the diagnosis and treatment of cardiovascular and neurovascular disease through targeted investments. For more information visit http://broadviewventures.org

About MaRS Catalyst Fund.
MaRS Catalyst Fund launched in 2016 provides funding and support to Canadian companies pursuing social and environmental outcomes with business models that scale. MaRS Catalyst focuses on businesses that can deliver better Health outcomes, provide a more sustainable Planet and support happier People through innovative education products and work sustainability services. For more information please visit www.marscatalystfund.ca

**CellAegis and autoRIC are registered Trademarks of CellAegis Devices Inc.

Related Links

http://cellaegisdevices.com

Photo courtesy of CellAegis Devices Inc

Profound Medical Corp. Completes Previously Announced $17.4 Million Bought Deal Offering of Common Shares

Profound Medical Corp. Completes Previously Announced $17.4 Million Bought Deal Offering of Common Shares

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

TORONTO, Nov. 14, 2016 (GLOBE NEWSWIRE) — Profound Medical Corp. (“Profound” or the “Company”) (TSX-V:PRN) today announced that it has completed its previously announced bought deal offering of 15,820,000 common shares of the Company (“Common Shares”) at a price of $1.10 per Common Share (the “Offering”) for gross proceeds of approximately $17.4 million. The Offering was completed through a syndicate of underwriters led by GMP Securities L.P., and including Echelon Wealth Partners Inc. and Mackie Research Capital Corp.

The Common Shares were offered by way of a short form prospectus in all of the provinces of Canada as well as in the United States under applicable registration statement exemptions. The Company intends to use the net proceeds from the Offering (a) to support certain costs and expenses of the TACT Pivotal Clinical Trial; (b) for ongoing expansion of infrastructure to execute on European sales and marketing plans; and (c) for general corporate purposes, including working capital.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Profound Medical Corp.

The Profound team is committed to the effort to achieve a new therapeutic standard in prostate cancer. For the millions of men currently living with prostate cancer, and the thousands more who are diagnosed with it every year, current treatment options often mean having to make difficult choices based on potential side effects that can significantly impact quality of life. The Company’s mission is to profoundly change the standard of care by creating a tomorrow where clinicians can confidently ablate cancerous prostate tissue with precision, while actively protecting critical anatomy from potential side effects; a tomorrow where patients have access to a safe, fast and effective treatment option, so they can quickly return to their daily lives.

Established in 2008, Profound is commercializing a novel technology, TULSA-PRO™, which combines real-time Magnetic Resonance Imaging with transurethral, robotically-driven therapeutic ultrasound and closed-loop thermal feedback control that is designed to provide precise ablation of the prostate while simultaneously protecting critical surrounding anatomy from potential side effects. TULSA-PRO™ is CE Marked and Profound is sponsoring a multicenter, prospective FDA-registered clinical trial, TACT, which is designed to further demonstrate the safety and effectiveness of this innovative technology.

Forward Looking Statements

This release includes forward-looking statements regarding Profound and its business which may include, but is not limited to, the expectations regarding the efficacy of Profound’s technology in the treatment of prostate cancer. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of Profound. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks regarding the pharmaceutical industry, economic factors, the equity markets generally and risks associated with growth and competition. Although Profound has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Profound undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For investor or media inquiries, please contact:

Steven Kilmer
Investor Relations
Profound Medical Corp.
skilmer@profoundmedical.com
T: 647.872.4849

Rashed Dewan
Vice President, Finance
Profound Medical Corp.
T: 647.476.1350

Immunovaccine Announces Closing of $8 Million Bought Deal Private Placement Financing

Shermaine Tilley of CTI Life Sciences Fund Will Join IMV Board of Directors

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Halifax, Nova Scotia; June 8, 2016 – Immunovaccine Inc. (“Immunovaccine”, “IMV”, or the “Company”) (TSX: IMV; OTCQX: IMMVF), a clinical stage vaccine and immunotherapy company, has closed the previously announced bought deal private placement (the “Offering”), raising gross proceeds of $8,002,500. Under the terms of the Offering, a total of 14,550,000 units (the “Units”) were issued at a price of $0.55 per unit. Each Unit consists of one common share in the share capital of Immunovaccine (a “Common Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each whole Warrant entitles the holder thereof to purchase one additional Common Share upon payment of the exercise price of $0.72 per share until June 8, 2018.

“There is a growing awareness in the biotechnology industry of the potential of the human immune system to effectively address a range of serious diseases,” said Frederic Ors, Chief Executive Officer of Immunovaccine. “Closing this funding comes at an optimal time for our company, as we continue building out the value of our DepoVax™ platform. It will allow us to further advance our very active immuno-oncology program, while continuing to cultivate the collaborations we have established in infectious disease. We look forward to growing our leadership position in this space, working to harness immunogenic responses to increase the treatment options for patients who need new and novel treatments.”

Mackie Research Capital Corporation and Echelon Wealth Partners Inc. served as co-lead underwriters and joint bookrunners on the Offering.

The net proceeds of the Offering will be used to advance the research and development and clinical advancement of the Company’s cancer and infectious vaccine candidates and for general corporate and working capital purposes.

Certain insiders of the Company participated in the Offering and subscribed for an aggregate of 2,481,855 Units under the Offering. Participation of insiders of the Company in the Offering constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), but it is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders will exceed 25% of the Company’s market capitalization. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of the insiders of the Company had not been confirmed at that time.

All the common shares issued under the Offering are subject to a four (4) month statutory hold period until October 9, 2016.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

The Company also announced the nomination of Shermaine Tilley, PhD, Managing Partner of CTI Life Sciences Fund (LSF), to the Immunovaccine Board of Directors. Dr. Tilley has served CTI LSF, a Montreal-based venture capital fund investing across Canada and the U.S., since its inception in 2006. She was instrumental in leading CTI LSF’s investments in Medicago, a company that was acquired by Mitsubishi Tanabe for an enterprise value of $357 million in 2013, as well as those in Phemi, Xagenic and Zymeworks. During her tenure at CTI LSF, she also served as a board observer in Enobia, which was acquired by Alexion in 2012 for up to $1.1B (assuming all milestones are achieved). CTI LSF currently has $245 million under management.

Prior to joining CTI LSF, Dr. Tilley was a Senior Vice President at Drug Royalty Corporation (DRC), where she led operations overseeing the royalty transactions in the biotech/pharma space. At DRC (now DRI), Dr. Tilley played a leading role in closing 12 transactions totaling over $200 million in investments.

Dr. Tilley has also held positions managing a research laboratory and serving as a faculty member at the NYU School of Medicine and Public Health Research Institute (PHRI), and on the PHRI Board of Directors. Concomitantly with her tenure at NYU School of Medicine and PHRI, she consulted for the National Institutes of Health (NIH) Small Business Innovation Research (SBIR) program in immunology and infectious disease for 10 years. She holds a PhD in biochemistry from the Johns Hopkins University School of Medicine, an MBA from the University of Toronto, and is a member of the CFA Society of Toronto. She currently sits on the boards of Phemi, Xagenic, Zymeworks and BIOTECanada.

“Dr. Tilley’s unique experience will allow her to provide strategic insights for Immunovaccine that are particularly valuable as we expand our investor and research base across important markets in North America,” said Frederic Ors, Immunovaccine’s Chief Executive Officer. “I am thrilled to be gaining someone with her significant expertise in both biotech financing and immunology research. I look forward to working with Dr. Tilley and our entire Board as IMV continues to advance our DepoVax™-based candidates through the clinic.”

About Immunovaccine
Immunovaccine Inc. develops cancer immunotherapies and infectious disease vaccines based on the Company’s DepoVax™ platform, a patented formulation that provides controlled and prolonged exposure of antigens and adjuvant to the immune system. Immunovaccine has advanced two T cell activation therapies for cancer through Phase 1 human clinical trials and is currently conducting a Phase 2 study with its lead cancer vaccine therapy, DPX-Survivac, in recurrent lymphoma. DPX-Survivac is expected to enter additional Phase 2 clinical studies in ovarian cancer and glioblastoma (brain cancer). In collaboration with commercial and academic partners, Immunovaccine is also expanding the application of DepoVax™ as an adjuvanting platform for vaccines targeted against infectious diseases. Immunovaccine’s goal in infectious diseases is to out-license its DepoVax™ platform to partners to generate earlier revenues. Connect at www.imvaccine.com

Immunovaccine Forward-Looking Statements
This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Company, including access to capital, the successful completion of clinical trials and receipt of all regulatory approvals. Immunovaccine Inc. assumes no responsibility to update forward-looking statements in this press release except as required by law.

Contacts:

MEDIA
Mike Beyer, Sam Brown Inc.
T: (312) 961-2502 E: mikebeyer@sambrown.com

INVESTOR RELATIONS
Kimberly Stephens, Chief Financial Officer
T: (902) 492-1819 E: kstephens@imvaccine.com

DalCor raises $100M in series B

 

DalCor raises $100M in series B

DalCor Pharma U.K. Ltd. (London, U.K.) raised $100 million in a series B round with Sanderling Ventures, Andre Desmarais, Caisse de depot et placement du Quebec, the Fonds de solidarite FTQ, CTI Life Sciences and undisclosed investors. The company is developing dalcetrapib (formerly RG1658), a small molecule inhibitor of cholesteryl ester transfer protein (CETP) to treat cardiovascular disease.
DalCor in-licensed the molecule from Roche (SIX:ROG; OTCQX:RHHBY) last year. This month, DalCor plans to start a 5,000-patient Phase III study of dalcetrapib in a genetically defined subset of acute coronary syndrome patients.
Roche discontinued development of dalcetrapib in 2012 after it failed in a Phase III study to treat coronary heart disease (CHD). DalCor said retrospective analyses of the Roche study showed dalcetrapib had efficacy in the subset of patients DalCor is pursuing.
DalCor also disclosed on Tuesday that it raised $50 million in a series A round last year.

Source: BioCentury 

Zymeworks Completes Acquisition of Kairos Therapeutics Creating a Leader in Biologics Drug Discovery and Development

Zymeworks Announces $61.5 Million Financing to Support the Clinical Development of its Pipeline of Azymetric™ Antibody Therapeutics

VANCOUVER, British Columbia-Zymeworks Inc., a leader in the development of bi-specific and multi-specific antibodies, announced today that it has completed the merger and acquisition of Kairos Therapeutics, specialists in the discovery and development of antibody drug conjugates (ADCs), spun out of The Centre for Drug Research and Development (CDRD). The integration of Kairos’ technology and pipeline with Zymeworks’ research platforms creates one of the industry’s leading biologics drug discovery and development organizations. With the completion of the acquisition, a number of Kairos staff will join Zymeworks, including John Babcook, President & Chief Scientific Officer of Kairos, who will join Zymeworks as Senior Vice President of Discovery Research.

“The completion of this merger is a transformative event for both Zymeworks and Kairos, and brings us closer to our goal of delivering life-changing medicines to patients who need better options”

Along with key scientific talent, the Kairos acquisition provides Zymeworks with a proprietary next-generation antibody-drug conjugate platform based on novel toxin, linker, and site-specific conjugation technology. This platform is synergistic with Zymeworks’ Azymetric™, AlbuCORE™, and EFECT™ technologies and will enable the design of highly targeted and potent bi-specific antibodies and multivalent protein therapeutics across a range of indications. The Kairos platform has the potential to be a key enabler of personalized medicine as it allows for the development of therapeutics that target cancer with increased potency and efficacy, while reducing toxic side-effects.

Zymeworks is transitioning to a clinical stage company, with its two lead compounds nearing first-in-human clinical trials. In addition to its platform technology, Kairos brings a pipeline of partnered ADCs targeting novel cancer targets with the potential to move into clinical development in the near term.

“The completion of this merger is a transformative event for both Zymeworks and Kairos, and brings us closer to our goal of delivering life-changing medicines to patients who need better options,” said Ali Tehrani, Ph.D., President and Chief Executive Officer of Zymeworks. “Combining Kairos’ superior ADC technology with our platforms, scientific experience, and resources positions us as a clear leader in the field of biotherapeutics with tremendous potential to discover and bring forth new medicines.”

“The Kairos team is excited to complete the merger with Zymeworks and bring together protein engineering, ADC, and bi-specific antibody technologies that will significantly enhance our ability to create innovative medicines that make a meaningful impact to lives of patients,” said Babcook. “We believe that by combining forces we will be able to expedite the development of a pipeline of best-in-class therapeutics. I also want to recognize the pivotal role CDRD played in enabling the development of this technology. Their platform is proving invaluable in creating and supporting a new generation of leading life sciences companies.”

The combined company will continue to be headquartered in Vancouver. Financial details were not disclosed.

John Babcook has more than 20 years of experience in biomedical research and biologics, as well as first-hand experience commercializing these technologies. Earlier in his career, Babcook led the development of the Selected Lymphocyte Antibody Method (SLAM™), a novel strategy to generate monoclonal antibodies from single, isolated lymphocytes. Based on this technology, he co-founded ImmGenics Pharmaceuticals, Inc., which was acquired by Abgenix and subsequently Amgen, where he led the Canadian research team, specializing in creating therapeutic antibodies. During his career, Babcook has worked to advance more than 100 therapeutic antibody-based programs, 11 of which are currently in clinical development, including three antibody-drug conjugates.

Babcook also led the establishment of the Biologics Division at CDRD where he has served as VP Biologics. He is currently an Adjunct Professor in the department of Molecular Biology and Biochemistry at Simon Fraser University. He is the recipient of the LifeSciences British Columbia “Innovation and Achievement” Award and of an Honorary Doctorate from the British Columbia Institute of Technology for his significant scientific and business-related contributions to the biotechnology industry.

About Zymeworks Inc.

Zymeworks is a privately held biotherapeutics company that is developing best-in-class Azymetric™ bi-specific antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and inflammatory diseases. The company’s novel Azymetric™, AlbuCORE™, and EFECT™ platforms, its Zymelink™ conjugation platform and cytotoxins, and its proprietary ZymeCAD™ structure-guided protein engineering technology, enable the development of highly potent bi-specific antibodies, multivalent protein therapeutics, and antibody drug conjugates across a range of indications. Zymeworks is focused on accelerating its preclinical biotherapeutics pipeline through in-house research and development programs and strategic collaborations. More information on Zymeworks can be found atwww.zymeworks.com.

Zymeworks Announces $61.5 Million Financing to Support the Clinical Development of its Pipeline of Azymetric™ Antibody Therapeutics

Zymeworks Announces $61.5 Million Financing to Support the Clinical Development of its Pipeline of Azymetric™ Antibody Therapeutics

VANCOUVER, British Columbia–(BUSINESS WIRE)–Zymeworks Inc. today announced the closing of a US$ 61.5 million Series A mezzanine financing to support the advancement of its Azymetric™ therapeutics pipeline. The financing was supported by a syndicate of U.S. and Canadian institutional investors, including all existing institutional and strategic investors.

The financing was co-led by new investors BDC Capital and Lumira Capital, and joined by existing Zymeworks investors Eli Lilly and Company, Celgene, CTI Life Sciences Fund, and the Fonds de solidarité FTQ. New investors in the financing include Perceptive Advisors, Teralys Capital, Northleaf Venture Catalyst Fund, Brace Pharma Capital, Merlin Nexus and others. Proceeds of the financing will support clinical development of Zymeworks’ lead therapeutic candidates, ZW25 and ZW33, which the Company plans to move into clinical development later this year.

Dion Madsen, Senior Managing Partner in BDC Capital’s Healthcare Venture fund will join Zymeworks’ board of Directors, and Dr. Daniel Hétu, Managing Director in Lumira Capital, will join as an observer.

“This financing provides Zymeworks the capital and resources to move multiple potentially game-changing therapeutic candidates not only into the clinic, but through to meaningful clinical inflection points,” said Dr. Ali Tehrani, President and Chief Executive Officer of Zymeworks. “Furthermore, this financing adds the experience of seasoned U.S. and Canadian biotech investors, and demonstrates the support of our existing strategic and institutional investor base as we look forward to the next stage in our growth and evolution as a leader in the field of bispecific and multivalent antibody therapeutics.”

Added Mr. Madsen, “BDC Capital is excited to provide acceleration capital to Zymeworks at this important time in the company’s evolution. The company is building the leading technology platform for targeted therapies and the addition of this capital enables the company to advance life enhancing therapies into clinical testing.”

Added Dr. Hétu, “The potential of Zymeworks’ science and technology are underscored by the significant commitments made by leading oncology companies and biotech investors. Having closely followed the progress of the company for many years, we are excited to be a part of Zymeworks’ growth as they further leverage the Azymetric™ platform and their pipeline to build an enduring company with the potential to help many patients.”

MTS Securities, LLC, an affiliate of MTS Health Partners, and BMO Capital Markets Corp. acted as advisors to Zymeworks in the transaction.

About Zymeworks Inc.

Zymeworks is a privately held biotherapeutics company that is developing best-in-class Azymetric™ bi-specific antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and inflammatory diseases. The company’s novel Azymetric™, AlbuCORE™, and EFECT™ platforms, and its proprietary ZymeCAD™ structure-guided protein engineering technology, enable the development of highly potent bi-specific antibodies and multivalent protein therapeutics across a range of indications. Zymeworks is focused on accelerating its preclinical biotherapeutics pipeline through in-house research and development programs and strategic collaborations. More information on Zymeworks can be found at www.zymeworks.com.

PHEMI Closes $12.2 Million Venture Financing

PHEMI Closes $12.2 Million Venture Financing

Led by team of serial entrepreneurs, new financing will expand sales, marketing and engineering capabilities to bring privacy to big data

VANCOUVER, British Columbia–(BUSINESS WIRE)–PHEMI, the company delivering security, privacy and governance insights through the promise of big data, today announced it has raised a $12.2 million round of venture financing to expand the commercialization phase of the company. Secured by a combination of new and existing investors, the financing was co-led by CTI Life Sciences Fund (CTI) and British Columbia Discovery Fund (Discovery Capital). It also included significant participation from early investors BDC Capital Healthcare Venture Fund and Yaletown Venture Partners.

“The big data market represents a tremendous growth opportunity for PHEMI in a variety of industries”

A team of serial entrepreneurs, Dr. Paul Terry, Adam Lorant and John Seminerio—with expertise in developing and commercializing innovative business and technology solutions for a wide variety of industries, including healthcare, telecommunications and high-performance computing— joined Chris Thompson and Alan Rabinowitz, two St. Paul’s Hospital cardiologists, in their start-up called PHEMI. With its initial focus in the healthcare and life sciences sectors, PHEMI will expand its focus to include a variety of data-driven communities, including public sector, insurance and financial services.

“Enterprises of all sizes are recognizing the enormous opportunity for discovery and innovation buried in their data,” said Dr. Paul Terry, president and CEO of PHEMI. “Data growth is massive—smart devices, the digitization of healthcare, genomics and other omics data, and dataflow from various sources such as email and the Internet—businesses must be able to take advantage of big data to remain competitive. Organizations that can move quickly to unlock their data silos, transform them into digital assets, and share this information, while protecting privacy and security, will win. With this additional capital, PHEMI will expand our sales, marketing and engineering efforts to ensure our partners and customers can use all of their data to create value and innovate.”

Innovative companies are striving to be more data-driven. PHEMI helps them unlock and share data without compromising privacy. PHEMI combines the scale and performance of big data with features that support rigorous security and performance, so enterprises can turn their focus from collecting and storing data to using it strategically, deriving insights to drive operational efficiencies, fuel innovation for competitive advantage, and lower costs. With the new financing in place, PHEMI will expand the sales channel for its award-winning solution, extending their solution offerings and sales reach through application and system integrator partners and data science expertise.

Dr. Shermaine Tilley, managing partner at CTI Life Sciences Fund stated: “Healthcare IT is an exciting and new investment direction for CTI. PHEMI’s unique solution and highly accomplished leadership team are on a rapid path to commercialization and we expect them to exceed expectations for current and prospective customers.”

“The big data market represents a tremendous growth opportunity for PHEMI in a variety of industries,” said Charles Cook, CMA for Discovery Capital. “PHEMI shares our vision for serving this segment of the market with a turnkey solution that helps organizations address the dual challenges of gathering data for insights while ensuring data privacy and security. We look forward to working with them as they evolve the way enterprises deploy big data and accelerate the rewards.”

About PHEMI

PHEMI is a big data warehouse company that lets organizations easily access and mine any variety of data at any volume to drive insights that lower costs, improve outcomes, and allow better decisions faster. An Organizational Ambassador for Privacy by Design (PbD), PHEMI brings both privacy and performance to big data, along with the data management and control to ensure innovation, and privacy, security and governance. For more information visit http://www.phemi.com/ and follow us on Twitter.

About CTI Life Sciences Fund

CTI is a Montreal-based limited partnership making venture capital investments in high quality emerging life sciences companies at the start-up and development stage primarily in Canada. CTI has a diverse team of professionals in science and finance with extensive experience in the biotechnology and the pharmaceutical industries. The Fund works closely with entrepreneurs and researchers to increase the value of young companies. More information on CTI can be found at http://www.ctisciences.com.

About British Columbia Discovery Fund (VCC) Inc.

British Columbia Discovery Fund (VCC) Inc. was established to make venture capital investments in a portfolio of small businesses in British Columbia that qualify under the Small Business Venture Capital Act, focusing on all of B.C.’s top internationally recognized technology clusters: information technology (software and hardware); mobile technology (wireless and networking solutions); clean technology (alternative energy and energy-saving technology solutions); new media; and health and life sciences. To obtain further information about the Fund, please visit www.sedar.com or www.bcdiscoveryfund.com.

About BDC Capital

A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1.6 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term.

BDC Capital’s Healthcare Venture Fund invests in transformative Canadian companies that will dramatically increase healthcare productivity by reducing healthcare costs while improving patient health. The experienced team manages $270 million in capital across two different funds and invests in drugs, devices, diagnostics and digital health sectors. For more information, please visitwww.bdccapital.ca/health.

About Yaletown Venture Partners

Yaletown Venture Partners invests in emerging-growth sustainability innovation and intelligent enterprise technology companies in Canada and the US Pacific Northwest. With offices in Vancouver, Calgary and Seattle, Yaletown is led by a team that brings together industry relationships and more than 130 years collective experience building and financing technology companies. Founded in 2002, Yaletown is backed by leading institutional investors and a network of successful technology entrepreneurs, executives, and angel investors. Find out more about Yaletown and our portfolio of companies at www.yaletown.com.

SutroVax raises $22 million in Series A

SutroVax is an independent vaccine platform and development company that was spun-out of Sutro Biopharma.

SutroVax is an independent vaccine platform and development company that was spun-out of Sutro Biopharma.

Vaccine Spin-off from Sutro Biopharma to Utilize Site-Specific Conjugation Technology

SOUTH SAN FRANCISCO, Calif., July 23, 2015 /PRNewswire/ — SutroVax, a recently established biopharmaceutical vaccine company, today announced the completion of a $22 million Series A financing.  SutroVax is developing vaccines for infectious disease targets, with an initial emphasis on best-in-class conjugate vaccines, using an exclusive license to Sutro Biopharma’s Xpress CF™ and Xpress CF+™ platforms for cell free protein synthesis and site-specific conjugation respectively.

The Series A financing was led by Abingworth, the international investment group, with participation from Longitude Capital, Roche Venture Fund and CTI Life Sciences Fund. SutroVax will use the funds to advance multiple vaccines in its pipeline through pre-clinical proof of concept.

Grant Pickering, CEO of SutroVax, said, “Our platform technology is already industrialized and uniquely enables precise site-specific conjugation and production of protein antigens that are beyond the reach of current technologies.  We intend to develop best-in-class vaccines to address an array of high-impact infectious diseases.”

Conjugate vaccines comprise the largest segment of the vaccine industry with annual sales of approximately $8 billion across multiple licensed indications, including pneumococcus, meningitis, and H flu.  By far the largest of those indications is the pneumococcus market with annual sales of nearly $6 billion. Despite the successes to date, there are not only a significant number of additional bacterial strains that have yet to be incorporated into current conjugate vaccines, but also many infectious diseases that have yet to be addressed using this potent modality.

“Abingworth is pleased to work with the talented team at SutroVax and this prestigious group of co-investors,” commented Kurt von Emster, Managing Partner of Abingworth.

As part of the financing, Kurt von Emster will become interim Chairman at SutroVax. In addition, Patrick Enright and Dr. Tracy Saxtonfrom Longitude Capital and Roche Venture Fund, respectively, will join Grant Pickering and William Newell, CEO of Sutro Biopharma, on the board of directors.

“It’s gratifying to see another high-value cache of applications gain momentum leveraging the platform and its well-developed infrastructure, including our large-scale cGMP facility,” commented William Newell, CEO of Sutro Biopharma.

About SutroVax:  SutroVax is an independent vaccine platform and development company that was spun-out of Sutro Biopharma. The company will leverage Sutro’s Xpress CF and Xpress CF+ platforms for cell-free protein synthesis and site-specific conjugation to develop novel vaccines for an array of disease targets. SutroVax was founded by Grant Pickering, Jeff Fairman, Ph.D. (VP Research) and Ash Khanna, Ph.D. (Chief Business Officer) and received initial funding from Sutro Biopharma and Johnson & Johnson Innovation.

About Xpress CF+:  Xpress CF+ is a proprietary cell-free protein synthesis platform that enables site-specific incorporation of multiple non-natural amino acid substitutions at precisely defined positions in proteins that enable attachment of chemical moieties, including polysaccharide antigens, via click chemistry.  Incorporation of non-natural amino acids for conjugation using Xpress CF+ has been applied to antibody drug conjugates and multi-specific antibody-based therapeutics for cancer therapy, including immuno-oncology therapies by Sutro Biopharma. It has also been industrialized to large-scale production under cGMP conditions and has been the subject of multiple major collaborations with select pharmaceutical and biotech companies.

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SOURCE SutroVax