Confo Therapeutics Enters into Collaboration Agreement with Daiichi Sankyo to Discover Novel Medicines for CNS Diseases
Confo Therapeutics Enters into Collaboration Agreement with Daiichi Sankyo to Discover Novel Medicines for CNS Diseases
- Collaboration to make use of Confo’s unique suite of ConfoBody®-enabled technologies for fragment- and structure-based drug design
- Confo to receive upfront and milestone payments totaling EUR 168M
- Tiered royalties payable to Confo on net sales from resulting products
Ghent, Belgium – March 30, 2023 – Confo Therapeutics, a leader in the discovery of medicines targeting G-protein coupled receptors (GPCRs), today announced that it has entered a collaboration agreement with Daiichi Sankyo (TSE: 4568) for the discovery and development of small molecule agonists against an undisclosed target associated with CNS diseases.
Under the terms of the agreement, Confo will lead the discovery process deploying its GPCR platform to generate lead series of small molecule compounds. Daiichi Sankyo has an exclusive option to acquire a worldwide exclusive license for the resulting compounds and advance them towards clinical development and commercialization. Confo has the potential to receive upfront payments, development and commercial milestones totaling EUR 168M and royalties.
“Daiichi Sankyo has historically been at the forefront of leveraging innovative technologies to develop novel medicines. We are excited by this collaboration in which we will be using Confo’s expertise and platform to pursue a previously undruggable GPCR target in an area of high unmet medical need,” said Cedric Ververken, CEO of Confo Therapeutics. “As we expand the scope of our internal drug discovery and development efforts, we look forward to continuing to enter partnerships with leading innovators to create new therapeutic options for patients.”
About Confo Therapeutics
Confo Therapeutics’ unparalleled technology stabilizes functional conformations of GPCRs (G protein-coupled receptors), thereby enabling the discovery of chemical or biological ligands that are conformationally selective. This platform combined with the pharmacologic and biologic insight it provides, allows Confo to build a multi-indication pipeline of drug candidates with the vision of transforming therapeutic outcomes for patients with severe illnesses lacking disease-modifying treatments. Confo Therapeutics was spun out of VIB-VUB (Vrije Universiteit Brussel) in 2015. Supported by international life-science focused investors and led by an experienced team of entrepreneurial professionals and scientists from successful biopharmaceutical companies, Confo Therapeutics benefits from the rich scientific and innovative ecosystem in Belgium.
For more information, visit www.confotherapeutics.com
For more information, please contact:
Confo Therapeutics
Dr. Cedric Ververken, CEO
+ 32 (0) 9 396 74 00
ImCheck Appoints Thomas Civik as Independent Chairman of the Board
ImCheck Appoints Thomas Civik as Independent Chairman of the Board
Marseille, France, March 23, 2023 – ImCheck Therapeutics announced today the appointment
of Thomas Civik as independent Chairman of its Board of Directors. With a distinguished career
of 30 years in the biopharmaceutical industry, Mr. Civik has extensive experience in bringing
oncology innovations to patients and from executive leadership roles, most recently as CEO of
Five Prime Therapeutics. He will join ImCheck’s Board as the company further develops its lead
program ICT01 and a range of antibody therapeutics targeting butyrophilins,
a novel superfamily of immunomodulators. Dr. Debasish Roychowdhury, Chairman since 2018, will step
down from the Board and remain an advisor to the company.
“Welcoming Tom to our Board represents an important milestone as we transition into a more mature
organization advancing a broad and promising pipeline of immunomodulatory antibodies. With our
lead program ICT01 moving toward later-stage clinical evaluation, Tom will make important strategic
contributions through his experience and insights in clinical and corporate development. He will also
provide an extensive network in the U.S. as we continue to expand our footprint there,” said Pierre
d’Epenoux, Chief Executive Officer of ImCheck Therapeutics. “I would like to thank Debasish for
his steadfast support and guidance over the past five years.”
Mr. Civik added: “ImCheck has established a leadership position in gamma delta T-cell activation in
immuno-oncology and has created substantial value through the potential of its unique approach. I
look forward to joining ImCheck’s Board and being a part of the next exciting phase of the company’s
evolution.”
Thomas Civik’s most recent corporate position was as CEO and President of Five Prime
Therapeutics, where he oversaw the clinical development of the company’s oncology pipeline
and the acquisition by Amgen in 2021. Prior to that, he was the Chief Commercial Officer at
Foundation Medicine and led the launch of the first-ever, FDA-approved pan-cancer
comprehensive genomic test. Mr. Civik spent the majority of his career at Genentech, where
for over 15 years, he held increasing levels of responsibility, lastly as Vice President and
Franchise Head, after starting in the pharmaceutical industry at Sanofi. He holds an MBA from
the Kellogg School of Management at Northwestern University and currently serves on the
Board of Directors at Repare Therapeutics and Pyxis Oncology.
About IMCHECK THERAPEUTICS
ImCheck Therapeutics is designing and developing a new generation of immunotherapeutic
antibodies targeting butyrophilins, a novel super-family of immunomodulators.
As demonstrated by lead clinical-stage program ICT01, which has a mechanism of action to
simultaneously modulate innate and adaptive immunity, ImCheck’s “first-in-class” activating
antibodies may be able to produce superior clinical results as compared to the first-generation
of immune checkpoint inhibitors and, when used in combination, to overcome resistance to this
group of agents. In addition, ImCheck’s antagonist antibodies are being evaluated as potential
treatments for a range of autoimmune and infectious diseases.
Co-founder of the Marseille Immunopole cluster, ImCheck benefits from support from Prof.
Daniel Olive (INSERM, CNRS, Institut Paoli Calmettes, Aix-Marseille Université), a worldwide
leader in γ9δ2 T cells and butyrophilins research; from the experience of an expert management
team; and from the commitment of leading US and European investors.
For further information: https://www.imchecktherapeutics.com/
Press contacts:
US and EU
Trophic Communications
Gretchen Schweitzer
+49 (0) 172 861 8540
France
ATCG PARTNERS
Céline Voisin
+33 (0)9 81 87 46 72 / +33 (0)6 62 12 53 39
Seamless Therapeutics Launches with $12.5M Seed Financing to Advance Transformative Gene Editing Platform Based on Programmable Precision Designer Recombinases
Seed round co-led by Wellington Partners and Forbion, with non-dilutive funding from BMBF GO-Bio enables maturation of platform and pipeline towards first clinical evaluation
Dresden, Germany, March 16, 2023 – Seamless Therapeutics today announced a $12.5 million (€11.8M) seed financing round which will accelerate further development of its designer recombinases, a novel gene editing platform to transform the treatment of severe diseases. The company’s pioneering recombinase platform is able to program a widely used and established molecular biology tool to unlock the full potential of gene editing enabling the targeting of any site within the genome. The seed round was co-led by Wellington Partners and Forbion and includes non-dilutive financing from BMBF GO-Bio, a prestigious German government initiative aimed at supporting the most innovative startups in the life sciences. Representatives from both Wellington and Forbion will join the company’s newly formed board of directors. The proceeds from the round will be used to further advance the company’s proprietary technology platform to build a pipeline of therapeutic candidates towards first-in-human readiness as well as to expand the company’s presence in the EU & US.
Seamless Therapeutics was founded based on ground-breaking discoveries from its scientific founders, Prof. Dr. Frank Buchholz, Dean of Research at the Faculty of Medicine and Head of Systems Biology at the University Cancer Center of the Technische Universität Dresden, and Felix Lansing, PhD, Co-Founder and Chief Scientific Officer of Seamless Therapeutics. Both are pioneers in reprogramming recombinases. Felix Lansing, PhD, will be responsible for the continued development of the company’s proprietary technology.
“Our goal is to apply our deep understanding of recombinases to leverage their inherent benefits to repair genetic alterations that cause disease. We believe our pioneering technology will allow us to shatter the boundaries that exist in gene editing methods today,” said Anne-K. Heninger, PhD, Co-Founder and Chief Executive Officer of Seamless Therapeutics. “Both Wellington and Forbion are visionaries and highly experienced biotech investors, and we look forward to working closely with them in our efforts to transform the gene editing landscape.”
“Our modular platform has succeeded in reprogramming site-specific recombinases to any given target sequence effectively breaking the existing hurdles of leveraging this potential best-in-class gene editing system to treat human disease,” commented Felix Lansing, Co-Founder and Chief Scientific Officer of Seamless Therapeutics. “I look forward to working with our founding investors and our highly skilled team to apply our deep knowledge of recombinases to develop a pipeline of novel treatments.”
“We have entered a new era in drug discovery based on the promise of how precision gene editing can change the way we treat disease in the future. Seamless Therapeutics has a first-mover position with its innovative platform capable of modifying the long held standard recombination technology into a universal gene editing tool with unprecedented specificity. We are excited to support Seamless Therapeutics in its pursuit of taking a leadership position in the rapidly evolving gene editing arena,” added Karl Nägler, PhD, Managing Partner at Wellington Partners.
“At Forbion our philosophy is to seek out pioneering technologies early in their development and to enable founding teams to harness the true potential of their innovation. The team has developed a powerful new platform that has overcome key limitations of existing gene editing tools, such as CRISPR, prime & base editors,” said Dmitrij Hristodorov, PhD, Partner at Forbion.
Seamless Therapeutics’ platform has succeeded in reprogramming site specific recombinases to any given target sequence and make a range of specific changes including inversion, excision, exchange, and insertion from small to larger DNA fragments. Recombinases are a class of enzymes that have been widely used in scientific research for decades to precisely modify the genome of model organisms but until now could not be applied as a therapeutic due to their limited programmability to act on new target sites.
***
About Seamless Therapeutics
Seamless Therapeutics is changing the paradigm of gene editing through a pioneering approach to restore health in patients with severe conditions in a safe and precise manner. Our technology platform unlocks the reprogramming of recombinases, a highly versatile class of enzymes. We are applying our proprietary know-how to develop a pipeline of disease-modifying product candidates across a broad spectrum of indications to expand the therapeutic potential of gene editing.
About Wellington Partners
Wellington Partners is a leading European venture capital firm investing in the most promising early- and growth stage life science companies in the fields of biotechnology, therapeutics, medical technology, diagnostics and digital health. With funds totaling more than €1.2 billion, thereof €590 million committed to life sciences, Wellington Partners has been actively supporting world class private companies translating true innovation into successful businesses with exceptional growth. To date, Wellington Partners has invested in 56 innovative life science companies, including Actelion (acquired by J&J), Definiens (acquired by AZ), Immatics (Nasdaq: IMTX). invendo (acquired by Ambu), MTM Laboratories (acquired by Roche/Ventana), Oxford Immunotec (acquired by PerkinElmer), Rigontec (acquired by MSD), Symetis (acquired by Boston Scientific), and Themis (acquired by MSD).
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 manages well over EUR 2.3 billion across multiple fund strategies that cover all stages of (bio-) pharmaceutical drug development. Forbion’s current team consists of over 30 life sciences investment professionals that have built an impressive performance track record since the late nineties with investments in 95 companies. Besides financial objectives, Forbion selects investments that will positively affect the health and wellbeing of patients. The firm is a signatory to the United Nations Principles for Responsible Investment. Forbion operates a joint venture with BioGeneration Ventures (BGV), the manager of seed and early-stage funds, especially focused on Benelux and Germany.
About BMBF GO-Bio
The BMBF funding initiative GO-Bio supports life science researchers with innovative ideas who are looking to go into business. It provides excellent conditions from an early project stage on for a successful switch from the lab to the economy.
https://www.go-bio.de/gobio/de/go-bio/go-bio/go-bio_node.html
For more information, please contact:
Seamless Therapeutics
Dr. Anne-K. Heninger, CEO
Phone: +49 351 212 469 0
Email:
Seamless Therapeutics media inquiries
Trophic Communications
Desmond James / Stephanie May
Tel: +49 1516 7859086 or +49 171 1855682
Email:
Carisma Therapeutics Closes Merger with Sesen Bio
Carisma Therapeutics Closes Merger with Sesen Bio
Shares of Carisma to commence trading on Nasdaq under new ticker symbol “CARM” on March 8, 2023
Resulting cash position of approximately $140 million provides runway through 2024; expected to enable multiple clinical readouts across Carisma programs
PHILADELPHIA, March 7, 2023 /PRNewswire/ — Carisma Therapeutics Inc., a clinical stage biopharmaceutical company focused on discovering and developing innovative immunotherapies, and Sesen Bio, Inc. (“Sesen Bio”), announced today the closing of their previously announced merger. The combined company will operate under the name Carisma Therapeutics Inc. and shares of its common stock will commence trading under the ticker symbol “CARM” on March 8, 2023 on the Nasdaq Global Market.
“This merger represents a very exciting opportunity for stockholders of each company, and we believe it gets us one step closer to our goal of revolutionizing the field of immunotherapy,” said Steven Kelly, President and Chief Executive Officer of Carisma. “It will provide us with the financial strength to not only continue to develop our lead candidate CT-0508 but also accelerate the growth of our platform and pipeline within and outside of oncology and continue to develop additional strong strategic partnerships.”
Dr. Thomas Cannell, President and Chief Executive Officer of Sesen Bio, said, “I want to thank the entire Sesen Bio team for their steadfast commitment to our mission to save and improve lives. Patients, caregivers and investigators around the world have been important advocates of Sesen Bio and I want to thank them for their support. I am confident in the potential of Carisma’s promising technology and through the combined company, we can continue to advance our shared mission of saving and improving the lives of patients with cancer. I know the future of Carisma is bright and I am optimistic for their continued success.”
Concurrent with the closing of the merger, Carisma completed a $30 million financing from a syndicate of investors, including HealthCap, AbbVie, Wellington Partners, SymBiosis, Penn Medicine, TPG Biotech, MRL Ventures Fund, the therapeutics-focused corporate venture arm of Merck & Co., Agent Capital, Solasta, Livzon, Pictet Alternative Advisors and 4Bio. The projected cash and cash equivalents as of the close of the business combination are expected to be approximately $140 million, providing anticipated operating runway at least through the end of 2024.
In connection with the closing of the merger, a one-time special cash dividend of $75 million, or approximately $0.36 per share, will be paid no later than March 10, 2023 to Sesen Bio stockholders of record at the close of business on March 7, 2023. Under the terms of the merger, Sesen Bio stockholders also received one Contingent Value Right, which entitles the holder to receive a cash payment related to any potential proceeds from the sale of Sesen Bio’s legacy assets, including Vicineum, and the potential $30 million milestone payment under the Roche Asset Purchase Agreement.
The combined company will be headquartered in Philadelphia, Pennsylvania, and will be led by Steven Kelly, President and Chief Executive Officer of Carisma. The board of directors of the combined company will be composed of seven members, including Sanford Zweifach (Chair), Regina Hodits, Briggs Morrison, Björn Odlander, Chidozie Ugwumba, Steven Kelly (Carisma President & Chief Executive Officer) and Michael Torok.
“The successful completion of this merger marks an important milestone in Carisma’s journey and significantly strengthens its cash resources to advance the company’s differentiated pipeline and platform,” said Chairman of the Board Sanford Zweifach. “The dedication of the Carisma team, as well as the support and guidance of our advisors and stockholders, have been instrumental in bringing us to this moment. The Board and I look forward to the opportunities that lie ahead.”
SVB Securities acted as the exclusive financial advisor to Sesen Bio for the transaction, and Hogan Lovells US LLP served as Sesen Bio’s legal counsel. Evercore served as lead financial advisor to Carisma for the transaction, and BofA Securities, Inc. also served as financial advisor to Carisma for the transaction. Wilmer Cutler Pickering Hale and Dorr LLP is serving as legal counsel to Carisma. BofA Securities, Inc. and Evercore served as co-placement agents for Carisma’s concurrent financing and Shearman & Sterling LLP is serving as the placement agents’ legal counsel.
About Carisma Therapeutics
Carisma Therapeutics Inc. is a biopharmaceutical company dedicated to developing a differentiated and proprietary cell therapy platform focused on engineered macrophages, cells that play a crucial role in both the innate and adaptive immune response. The first applications of the platform, developed in collaboration with the University of Pennsylvania*, are autologous chimeric antigen receptor (CAR)-macrophages for the treatment of solid tumors. Carisma is headquartered in Philadelphia, PA. For more information, please visit www.carismatx.com
*Carisma has licensed certain Penn-owned intellectual property from the University of Pennsylvania, and Penn’s Perelman School of Medicine receives sponsored research and clinical trial funding from Carisma. Penn and certain of its faculty members are current equity holders in Carisma and have received and may be entitled to receive future financial consideration from Carisma from the development and commercialization of products based on licensed Penn intellectual property.
Cautionary Note on Forward-Looking Statements
Any statements in this press release about Carisma’s future expectations, plans and prospects, strategy or future operations, and other statements containing the words “anticipate,” “believe,” “contemplate,” “expect,” “intend,” “may,” “plan,” “predict,” “target,” “potential,” “possible,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. For example, statements concerning Carisma’s business, strategy, future operations, cash runway, the advancement of Carisma’s product candidates and product pipeline, and clinical development of Carisma’s product candidates, including expectations regarding timing of initiation and results of clinical trials are forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including without limitation: (i) risks associated with the possible failure to realize certain anticipated benefits of the merger, including with respect to future financial and operating results; (ii) the effect of the completion of the merger on Carisma’s business relationships, operating results and business generally; (iii) the outcome of any legal proceedings instituted against Sesen Bio, Carisma or any of their respective directors or officers related to the merger agreement or the transactions contemplated thereby; (iv) the ability of Carisma to protect its intellectual property rights; (v) competitive responses to the merger and changes in expected or existing competition; (vi) the success and timing of regulatory submissions and pre-clinical and clinical trials; (vii) regulatory requirements or developments; (viii) changes to clinical trial designs and regulatory pathways; (ix) changes in capital resource requirements; (x) risks related to the inability of Carisma to obtain sufficient additional capital to continue to advance its product candidates and its preclinical programs; (xi) legislative, regulatory, political and economic developments; and (xii) other factors discussed in the Company’s reports filed with the Securities Exchange Commission. In addition, the forward-looking statements included in this press release represent Carisma’s views as of the date hereof. Carisma anticipates that subsequent events and developments will cause its views to change. However, while Carisma may elect to update these forward-looking statements at some point in the future, Carisma specifically disclaims any obligation to do so, except as required under applicable law. These forward-looking statements should not be relied upon as representing Carisma’s views as of any date subsequent to the date hereof.
Media Contact:
Julia Stern
(763) 350-5223
SOURCE Carisma Therapeutics Inc.
Confo Therapeutics Announces Global Licensing Agreement With Lilly For Peripheral Pain Candidate, CFTX-1554
Confo Therapeutics Announces Global Licensing Agreement With Lilly For Peripheral Pain Candidate, CFTX-1554
- Confo to receive upfront and milestone payments totaling $630M
- Company is eligible for up to $590M in additional milestones if Lilly proceeds with a second product candidate
- Tiered royalties payable to Confo on net sales
- Confo to have a co-investment option
Ghent, Belgium – March 2, 2023 – Confo Therapeutics, a leader in the discovery of medicines targeting G-protein coupled receptors (GPCRs), today announced a worldwide licensing agreement with Eli Lilly and Company for Confo’s clinical stage CFTX-1554 and back-up compounds.
CFTX-1554, a novel inhibitor of the angiotensin II type 2 receptor (AT2R) currently in Phase 1 clinical development, represents a non-opioid approach to treating neuropathic pain, a devastating condition caused by damage to the nerves outside of the brain and spinal cord, and potentially additional peripheral pain indications. Current treatment methods are often insufficiently effective and can lead to serious side effects including addiction. Patients suffering from peripheral pain are therefore in urgent need of effective analgesics that are well-tolerated and do not impact quality of life.
Under the terms of the agreement, Lilly will continue the clinical development program beyond Phase 1. In addition, the agreement considers a program to further develop Confo’s existing therapeutic antibody candidates targeting the same receptor. Confo will receive a USD 40M upfront payment from Lilly as well as up to USD 590M in potential milestone payments per program and tiered royalties. Confo maintains a co-investment option to participate in the funding of future development programs after clinical proof-of-concept for additional royalties.
“We are pleased that Lilly, an expert in chronic pain with a wealth of experience in bringing novel therapies to patients, has recognized Confo’s ability to develop best-in-class GPCR drug candidates,” said Cedric Ververken, CEO of Confo Therapeutics. “CFTX-1554’s progression through the clinic will benefit from Lilly’s experience and global organization, while we will continue to develop and expand our growing, innovative pipeline of GPCR-targeted assets, both small molecules and biologics.”
About CFTX-1554
CFTX-1554 is Confo Therapeutics’ first product candidate in clinical development and is a non-opioid approach designed to address peripheral (neuropathic) pain while avoiding centrally mediated side effects, such as addiction and sedation. The compound is a novel inhibitor of angiotensin II type 2 receptor (AT2R), a clinically precedented target for the treatment of neuropathic pain. Whereas previous compounds targeting AT2R have failed to reach market approval, CFTX-1554 is distinct in that it interacts more efficiently with the AT2R binding site, resulting in improved drug-like properties. CFTX-1554 is currently being examined in a Phase 1 first-in-human clinical study (ClinicalTrials.gov Identifier: NCT05260658).
About Confo Therapeutics
Confo Therapeutics’ unparalleled technology stabilizes functional conformations of GPCRs (G protein-coupled receptors), thereby enabling the discovery of chemical or biological ligands that are conformationally selective. This platform combined with the pharmacologic and biologic insight it provides, allows Confo to build a multi-indication pipeline of drug candidates with the vision of transforming therapeutic outcomes for patients with severe illnesses lacking disease-modifying treatments. Confo Therapeutics was spun out of VIB-VUB (Vrije Universiteit Brussel) in 2015. Supported by international life-science focused investors and led by an experienced team of entrepreneurial professionals and scientists from successful biopharmaceutical companies, Confo Therapeutics benefits from the rich scientific and innovative ecosystem in Belgium.
For more information, visit www.confotherapeutics.com
For more information, please contact:
Confo Therapeutics
Dr. Cedric Ververken, CEO
+ 32 (0) 9 396 74 00