Brightlands Maastricht Health Campus gaat een strategische samenwerking aan met investeerder Thuja Capital. Daarnaast investeert de campus samen met nog zes grote partijen waaronder de Limburgse ontwikkelingsmaatschappij LIOF en het Europees Investeringsfonds EIF in een nieuw investeringsfonds van Thuja. Het fonds heeft een startkapitaal van 45 miljoen euro om (door)starters in de healthcare op weg te helpen.

Volgens Jan Cobbenhagen, CEO van Brightlands Maastricht Health Campus, biedt de samenwerking met Thuja Capital extra kansen aan starters en spin-offs op de Maastrichtse campus. ‘Als een van de weinige life sciences venture capital fondsen investeert Thuja al vanaf de ‘seed’-fase. Daarbij wordt gekozen voor een actieve samenwerking met de Technology Transfer Organisaties (TTO) van universiteiten en UMC’s, zoals Brightlands Maastricht Health Campus. Deze strategische samenwerking stelt geselecteerde spin-offs in staat hun ‘investor readiness’ te vergroten middels toegang tot kennis, netwerk en expertise van Thuja.’

Thuja Capital is een van oudere venture capitalists in Nederland met vijftien jaar ervaring. In die periode heeft Thuja geïnvesteerd in een aantal succesvolle startups waaronder niet de geringste: ‘Argenx onder andere, inmiddels behorend tot de grootste biotechbedrijven van Europa’, zegt Michel Briejer, Managing Partner van Thuja Capital, niet zonder trots. ‘Sinds onze oprichting hebben we ons volledig geconcentreerd op startende ondernemers die een idee in de medische hoek willen omzetten in een bedrijf. Dan kan het gaan om de ontwikkeling van een nieuw medicijn, een medisch device of software. Producten die officieel gecertificeerd moeten worden, en waarvoor een markttoelating nodig is. Heel vaak ontstaan die ideeën in academische ziekenhuizen en universiteiten. Tijdens promotietrajecten bijvoorbeeld. Artsen en onderzoekers vinden een nieuwe aanpak voor een medicijn of bedenken een revolutionaire diagnosetool. Mooi, maar hoe gaat het verder? Geen bank of traditionele participatiemaatschappij die wil instappen, omdat het financiële risico te hoog is. Meestal blijft zo’n mooi idee dan op de plank liggen. Op zo’n moment komt een venture capitalist als Thuja Capital in beeld.’

Heeft Thuja dan een grote zak geld staan? ‘Zo eenvoudig is het niet’, vervolgt Michel Briejer. ‘Wij gaan eerst in gesprek met de onderzoeker danwel de ondernemer in spe. Na een eerste screening beslissen we of een nader onderzoek zinvol is. Zo ja, dan gaan wij bij ons brede netwerk te rade. Met specialisten toetsen we de technische en medische haalbaarheid, er volgt marktonderzoek en zo bouwen we aan een gedetailleerd businessplan. Dat bespreken we vervolgens met onze eigen adviesraad. Als zij ook enthousiast zijn, dan zorgen wij, in ruil voor aandelen, voor het benodigde kapitaal en begeleiding.’

Thuja is geen fonds dat uit is op snelle winst. ‘Integendeel. Participaties houden we gemiddeld acht tot tien jaar aan. Is het bedrijf volwassen, dan trekken we ons terug en verkopen we onze aandelen. Mooi voorbeeld is Nightbalance, dat een device voor behandeling van slaapapneu ontwikkelde en inmiddels door Philips is overgenomen. Of natuurlijk Argenx dat beursgenoteerd is. Uiteraard is het onze bedoeling om naast impact ook winst te maken. Voor onze aandeelhouders en omdat er altijd weer nieuwe ondernemers bij ons aankloppen. Onze missie is bijdragen aan innovaties met impact in de gezondheidszorg.’

Brightlands Maastricht Health Campus participeert voor een bescheiden bedrag in het Thuja Capital Healthcare Fund III. ‘Maar het gaat ons vooral om de strategische samenwerking. Die zal ertoe leiden dat we nóg beter in staat zijn de meest kansrijke ideeën van Universiteit Maastricht en Maastricht UMC+ om te zetten in succesvolle bedrijven met de noodzakelijke (vervolg)financiering’, aldus Jan Cobbenhagen. ‘Als campus is het onze taak spin-offs op te richten en hen te ondersteunen in hun groeiambities. Mooie ideeën moeten een vertaling vinden naar de maatschappij, naar praktische toepassingen zoals medicijnen en apparatuur. En dat vereist forse investeringen. De ‘investor readiness’ van spin-offs is dan ook cruciaal om succesvol die markt te bereiken. Thuja heeft veel ervaring met de financiering van spin-offs uit academische medische centra en universiteiten en heeft een breed venture capital netwerk. De participatie van LIOF in deze samenwerking is een pré voor ons ecosysteem. Ik ben er dan ook van overtuigd dat diverse spin-offs gaan profiteren van deze samenwerking.’

Thuja Capital is kind aan huis bij een aantal universitaire medische centra. In Nederland (Radboud en Utrecht UMC), België (Luik en Leuven) en ook in Duitsland (Aken). Ook twee Maastrichtse startups op de Brightlands Health Campus werken met kapitaal van Thuja. Via het derde Thuja Capital Healthcare Fund worden dat er ongetwijfeld meer. ‘Dat verwachten we wel’, zegt Michel Briejer. ‘Deze regio is zo innovatief met een aantal topcentra in Aken, Luik, Hasselt en Maastricht in een straal van pakweg 25 kilometer. We zien de grensoverschrijdende samenwerking groeien, krachten worden gebundeld. Het is niet voor niets dat Brightlands Maastricht Health Campus en LIOF in dit fonds instappen. Zij zien ons trackrecord, zij weten dat we met de expertise in ons netwerk goede keuzes maken. Andersom verheugen wij ons op de samenwerking. Met 45 miljoen euro hebben we flink wat slagkracht om 10 à 15 starters in het zadel te helpen. En dat kunnen er meer worden, want we willen het kapitaal verder uitbreiden. Er is belangstelling genoeg. Er is geen gebrek aan kapitaal. Wij werken echter niet met partijen die snel willen cashen.’

Tys van Elk, directeur van ontwikkelingsmaatschappij LIOF, over de deelname in het nieuwe fonds van Thuja Capital. ‘Een sterke fondsmanager met een sterk trackrecord, zowel inhoudelijk als qua rendementen op eerdere fondsen. Thuja is een zogenaamde lifecycle investeerder, waarbij het echt in groei van startup naar scale up en verder kan financieren. Het fonds sluit goed aan bij de ambities van de Brightlands Maastricht Health Campus, voor LIOF een belangrijke speler in het ecosysteem op dit gebied in Limburg.’

Bron: Brightlands (Persbericht)

BIMINI Biotech, an innovative therapeutics startup that develops new cancer drugs, has secured an investment of €200,000 from proof-of-concept fund UNIIQ to further develop its technology. The company aims to use the growth hormone receptor to uniquely inhibit cancer cell growth. The investment was announced digitally by Ida Haisma, director of Leiden Bio Science Park.

BIMINI’s technology is based on pioneering research by Professor Ger Strous at UMC Utrecht and has shown promising results in the preclinical phase. The startup recently moved to Leiden to continue preclinical research and make the transition to the clinical phase.

Human growth hormone (GH) modulates cellular metabolism, leading to cell growth, cell reproduction and cell regeneration. GH also stimulates the production and secretion of insulin-like growth factor 1 (IGF-1) in many tissues. GH and IGF-1 both promote cell proliferation and suppress apoptosis.

The scientific literature and numerous animal studies and retrospective human studies indicate that this GH/IGF-1 axis plays an important role in cancer development. Overexpression of the axis in various types of cancer leads to explosive cellular growth, with cells triggering growth in themselves or surrounding cells. The GH/IGF-1 axis is therefore the ideal target for anti-cancer drug development.

Using this axis as a target, BIMINI’s strategy is based on a new mechanism that renders the growth hormone receptor dysfunctional. This approach elegantly mimics nature by making cells less sensitive to growth hormone as seen in Laron syndrome (a specific type of dwarfism). People with this condition, characterised by growth hormone receptor deficiency, have been found to be resistant to diseases like cancer.

Three small molecules (BM001-003) have been identified and patented by BIMINI, of which BM001 is the lead compound currently being used in the preclinical phase. This compound has shown, both in vitro and in vivo, promising anti-cancer effects for different types of cancer.

The GH/IGF-1 axis is not only involved in cancer development but in other areas too, including metabolic disorders and the ageing process. This innovative approach may therefore prove applicable to other indications in the future. Indeed, BIMINI aims to develop a drug discovery platform around the GH/IGF-1 axis and aspires to become a leading innovator in growth hormone receptor-based therapeutics.

The startup will use UNIIQ’s capital injection for additional in vivo efficacy studies as well as for toxicological and ADME experiments, while further strengthening its IP position and organisational development.

Digvijay Gahtory, CEO of BIMINI Biotech: “We can use UNIIQ’s investment to conduct experiments that will be essential for bridging the gap to Series A funding and thus bring our innovative technology one step closer to patients.”

Hans Dreijklufft, fund manager at UNIIQ: “To improve prognosis and life expectancy, it is fundamental that new therapeutics reach cancer patients. BIMINI’s innovative technology has the potential to make a big difference. We are therefore very happy to invest in the company. We have a lot of faith in its team and are convinced that BIMINI Biotech is a strong addition to the Leiden ecosystem.”

Source: BIMINI Biotech (Press release)

Stimuleer startups met een aantrekkelijk financieel klimaat is de oproep van o.m. Alexander Rinnooy kan, Jeroen van der Veer en Prins Constantijn in het Financieele Dagblad vorige week. Daartoe doen zij drie verschillende aanbevelingen.

1. Maak medewerkersparticipatie mogelijk
2. Stimuleer herinvesteringen naar het voorbeeld van Sillicon Valley
3. Stel een impactkorting in

De briefschrijvers richten zich met name op tech startups, maar HollandBIO vindt dat de voorgestelde maatregelen juist ook toepasbaar zijn op kennis- en kapitaalintensieve biotech startups. Op die manier kan Nederland alle vruchten plukken van al het moois dat onze sector te bieden heeft.

Lees het hele bericht hier: https://fd.nl/opinie/1363931/een-goed-klimaat-voor-startups-vraagt-fiscale-aanpassingen

Pharvaris, a clinical-stage company focused on the discovery and development of novel oral bradykinin-B2-receptor antagonists for the treatment of hereditary angioedema (HAE) and other bradykinin-B2-receptor-mediated indications, announced the close of its oversubscribed $80 million Series C financing bringing its total venture funding to over $160 million to date. Viking Global Investors and General Atlantic co-led the financing, with participation by Cormorant Asset Management. Current investors Foresite Capital, Bain Capital Life Sciences, venBio Partners, and Venrock Healthcare Capital Partners also participated in the round.

“Our team is committed to developing and delivering differentiated products to patients – the oversubscription of our Series C highlights broad enthusiasm for our vision for HAE and beyond,” said Berndt Modig, Chief Executive Officer and co-founder of Pharvaris. “The backing from this prominent group of investors will enable us to develop our pipeline of compounds for the treatment of HAE and other bradykinin-B2-receptor-mediated indications. We expect to complete our Phase 1 assessments in healthy volunteers at the end of the year and anticipate announcing top-line data in 2021.”

The proceeds from the Series C financing will fund the clinical advancement of Pharvaris’ pipeline of novel oral bradykinin-B2-receptor antagonists for the treatment of HAE, including both on-demand treatment and prophylactic prevention. Pharvaris’ first product candidate, PHVS416 (PHA121 in soft capsules), is a potent, orally available bradykinin B2-receptor antagonist designed to block the effects of bradykinin during HAE attacks. Initiation of RAPIDe-1, a multi-center Phase 2 placebo-controlled on-demand study of PHVS416 in HAE patients, is expected in 2021. Pharvaris is also developing an orally available extended-release product containing PHA121 specifically for prophylaxis in HAE patients.

Brett Zbar, M.D., Managing Director and Global Head of General Atlantic’s Life Sciences sector, stated, “As I saw during my previous tenure as a director, Pharvaris has a demonstrated track record of executing against its development strategy for PHA121, underscored by the promising clinical data presented at ACAAI last week. We strongly believe in Pharvaris’ mission and are excited to back Berndt and the team as we put further momentum behind General Atlantic’s Life Sciences strategy.”

Source: Pharvaris & LSP

Immunicum AB (publ) (IMMU.ST) announced that it has entered into an agreement with Van Herk Investments B.V. to acquire all of the shares in DCprime B.V., a Dutch clinical stage company developing cancer relapse vaccines aimed to reduce tumor recurrence (the “Transaction”). Merging the complementary allogeneic dendritic cell biology approaches of both companies will enable Immunicum to further build and strengthen its position as a leader in cell-based cancer immunotherapies. Payment in the Transaction is effectuated through an issue in kind of 73,909,635 new shares in Immunicum representing 44 percent of the shares in Immunicum on a fully diluted basis. DCprime’s current majority shareholder, Van Herk Investments B.V., a leading European life science investor, will thereby become a significant shareholder of the combined entity. The issuance of the shares is subject to approval by an Extraordinary General Meeting (EGM) to be held on December 18^th, 2020.

The main objective of the combination is to establish a unified company built on decades of combined immuno-oncology and cell therapy expertise in the field of allogeneic dendritic cell biology. Moving forward, Immunicum’s scientific focus will continue to be on triggering immune responses against established tumors via intratumoral immune priming and expanded to include the reduction of tumor recurrence via relapse vaccination. To date Immunicum has established clinical proof of concept for its lead program, ilixadencel, which has been tested in a range of solid tumors. DCprime has produced equally encouraging clinical results for blood-borne tumors including interim data from its ongoing Phase II study in Acute Myeloid Leukemia (AML), which will be provided in an oral presentation at the upcoming ASH 2020 conference. Together, the companies will advance a synergistic pipeline spanning both large and orphan indications in solid as well as blood-borne tumors, with two programs in Phase II clinical development and multiple near-term value inflection points as well as a portfolio of preclinical programs and research capabilities to fuel future pipeline expansion. Importantly, the combined process development and manufacturing expertise and specialized in-house research and development facilities will support the shared goal of becoming a leader in the development of cell-based immunotherapies.

The newly combined company will maintain its corporate headquarters in Stockholm, Sweden and consolidate research, process development and future manufacturing efforts at the location in Leiden, the Netherlands. Immunicum’s shares will continue to trade on the Nasdaq Stockholm.

Following the closing of the transaction, Erik Manting, Ph.D., currently CEO of DCprime, will join Immunicum’s leadership team as Chief Business Officer and deputy CEO. Jeroen Rovers, MD, Ph.D., currently Chief Medical Officer at DCprime, will have the role of the Managing Director of DCprime in the combination. Erik Manting brings several years of research experience in immunology as well as 15 years in commercial and management roles in banking. Jeroen Rovers brings 15 years of industry experience in a variety of medical roles, including CMO at Kiadis Pharma.

In addition, Immunicum will call for an EGM in order for the shareholders to resolve upon the proposed elections of Andrea van Elsas, Ph.D. and Dharminder Chahal to the Board of Directors of Immunicum. Andrea van Elsas is currently a venture partner at Third Rock Ventures, and his scientific career includes leading the anti-PD1 program that became leading immunotherapy, pembrolizumab (Keytruda®). Dharminder Chahal is CEO and co-founder of an oncology diagnostics company, SkylineDx, and investment manager to Van Herk. Van Herk is a leading European investor in life science having made a number of successful investments including Zealand Pharma, Ablynx, Crucell and Galapagos. Van Herk is also the largest shareholder in Swedish listed biotech company, BioInvent, where Dharminder Chahal serves as a board member.

By way of the Transaction, Immunicum will acquire all outstanding shares in DCprime. Payment in the Transaction is effectuated through an issue in kind of 73,909,635 new shares in Immunicum to Van Herk. The share purchase agreement has been entered into with Van Herk Investment B.V. and has been adhered to by Van Herk Royalty B.V., which is a company within the Van Herk Group and the current shareholder of the shares in DCprime. Before closing the shares will be transferred to Van Herk Investments B.V. Further, prior to the closing of the Transaction, Van Herk will acquire the minority shareholders’ shares in DCprime and such minority shareholders will consequently partly be paid in cash and partly in Immunicum shares. As a result of the Transaction, Van Herk will be the largest shareholder in Immunicum, holding approximately 43 percent of the total outstanding shares after the Transaction. Customary lock-up provisions covering a period of twelve months have been put in place between Immunicum, Van Herk and DCprime minority shareholders receiving issued shares.

Van Herk Investments, together with Immunicum’s largest shareholder, Fourth Swedish National Pension Fund (AP4), have expressed their support to the new, combined entity. In addition, Van Herk Investments, Immunicum’s largest shareholder following the Transaction, intends to invest up to SEK 82.5 million in the company.

Closing of the Transaction is conditional upon approval of issuance of the shares by the EGM, with a two-thirds majority requirement for the approval of both the votes cast and the shares represented at the EGM,¹ approval and publication of the prospectus, and Van Herk’s acquisition of the minority shareholders’ shares in DCprime. The closing of the Transaction is expected to take place at the end of December 2020.

Immunicum’s assessment is that the current funds available for the combined entity will be sufficient to finance operations into the beginning of 2022 based on immediate financial benefit from the companies’ operational synergies. Immunicum will further propose to the EGM the approval of a mandate for the Board of Directors to resolve to issue shares in a directed issue of up to 20 percent of the outstanding shares after the Transaction to facilitate financing activities.

“As announced in the recent corporate and clinical update from September, one of Immunicum’s main goals is to expand the Company’s pipeline with the vision of becoming a leading cell therapy company. As such, joining forces with DCprime, an innovative company with extensive  expertise in allogeneic dendritic cell biology, stands as an exciting opportunity with great potential for Immunicum that will build additional value for the Company, our shareholders and future patients,” stated Sven Rohmann, MD, Ph.D., Chief Executive Officer of Immunicum. “Together, we can pursue the treatment of both solid tumor and blood-borne tumors by intratumoral priming as well as systemic boosting using the next-generation of allogeneic, off-the-shelf cell-based therapies. Our teams and our technologies are complementary and would significantly increase the potential of our pipeline and deliver more value-inflection points and potential partnering opportunities.”

“DCprime has established a strong position in cell-based cancer therapy with a Phase II asset in blood-borne tumors. By integrating with the Immunicum team, we look forward to the continued advancement of our unique relapse vaccine approach in parallel to the ongoing clinical progress of Immunicum’s lead candidate, ilixadencel,” stated Erik Manting, Ph.D., Chief Executive Officer of DCprime. “From a corporate perspective, DCprime’s and Immunicum’s lean and focused organizations and excellent teams are the perfect match to drive the development of the combined pipeline products and identify additional novel therapeutic solutions to address unmet medical needs in the field of cancer therapy.”

“This transaction is a transformative milestone for Immunicum as it will bring additional value to the company and enable it to further establish itself as a leader in the development of cell-based immuno-oncology treatments,” said Michael Oredsson, Chairman of the Board at Immunicum. “Together, we will have world class competence with in-house process development and manufacturing expertise and specialized research and development facilities as well as strengthened ownership by the addition of Van Herk, a renowned and committed life science investor known for their success stories in Galapagos and Zealand Pharma, BioInvent, Galapagos and successful trade sale exits in Ablynx (Sanofi), Crucell (J&J), among others.”

“The combination of Immunicum and DCprime creates a well-positioned company with a broad pipeline with two programs in the clinical phase as well as several preclinical opportunities,” said Dharminder Chahal, Chairman of the Board at DCprime and representative for Van Herk. “We look forward to supporting Immunicum as the company further advances its innovative immuno-oncology projects.”

Source: Immunicum (Press release)