Delenex extends its A round to CHF 30.2 million
(Thomson Reuters ONE) -
Delenex Therapeutics AG /
Delenex extends its A round to CHF 30.2 million
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
Thomas Dyrberg from Novo A/S joins the Board of Directors
Schlieren, Switzerland - May 3, 2011
Delenex Therapeutics AG ("Delenex"), a Swiss biotech company developing
therapeutic antibody fragments for diseases with high unmet need, has extended
its Series A venture equity investment round securing an additional CHF 16.7
million (USD 19.3 mio, EUR 13.0 mio) providing a total A Round investment of CHF
30.2 million (USD 34.8 mio, EUR 23.5 mio). The extended A round was led by new
investor Novo Ventures, with the existing A round major investors (SV Life
Sciences, HBM BioCapital, HBM BioVentures, BioMedInvest and VI Partners) all
contributing. Thomas Dyrberg, MD, Senior Partner with Novo Ventures, will join
the Board of Directors of Delenex.
Delenex discovers novel antibodies using its proprietary PENTRA(®) platform and
is soon to start clinical trials in inflammatory diseases, including
dermatology, with its DLX105 compound, an anti-TNFalpha single-chain Fv
antibody. The extended funding will enable Delenex to bring DLX105 to proof of
concept in this therapy area. In addition, to evaluate the potential of Delenex'
PENTRA(®) antibodies against other targets, further pre-clinical programs will
advance to clinical candidate status, including use in other body compartments
such as the central nervous system.
Delenex is based in Schlieren (Zurich) and the management team consists of Eric
de La Fortelle PhD, MBA (CEO), Titus Kretzschmar PhD (CSO) and Jakob Schlapbach,
MBA (CFO), a team with a strong track record in the pharma and biotech
industries.
Thomas Dyrberg commented: "Delenex has an attractive profile for a Series A-
stage company. Its strong intellectual property position, broad pipeline of
clinical and pre-clinical compounds, original approach to antibody therapeutics,
and focus on locally-delivered biologics addressing unmet medical needs
motivated our interest to invest. Novo Ventures is excited to be working with
the other investors and Delenex management to further build the company's
capabilities and pipeline."
Thomas Hecht, MD, Chairman of the Board, commented: "The willingness of Novo
Ventures, as well as the existing investor syndicate, to fund this company
through its planned clinical proof-of-concept studies, is a strong testimony as
to how far we have built Delenex since the spinoff from ESBATech in September
2009. We are delighted to welcome Thomas Dyrberg to our Board. His personal
track record as an investor, and that of Novo Ventures, further strengthen our
commitment to advance novel medicines to clinical proof of concept."
Graham Boulnois, Senior Partner at SV Life Sciences in London, added: "We are
happy to have Novo A/S complementing our series A round. The arrival of this new
investor validates Delenex' business model and strengthens our ability to bring
our clinical candidates to proof of concept."
Delenex develops best-in-class, reduced-size antibody formats for local and
topical application. Apart from its main focus on dermatology, it also pursues
approaches to CNS and other localized body compartments, to treat inflammatory,
degenerative and proliferative diseases.
For further information, please contact:
Eric de La Fortelle
Chief Executive Officer
Ph: +41 44 730 5183
Fax: +41 44 730 5181
E-mail:eric.de_la_fortelle(at)delenex.com
Website:www.delenex.com
About Delenex
Delenex was created in September 2009 as a spin-off from ESBATech (now part of
Alcon, the eye care division of Novartis), and is the exclusive licensee for any
non-ophthalmic uses of ESBATech's products and IPR pre-dating the license
agreement. Delenex' lead compound is DLX105, an anti-TNFalpha optimized single-
chain Fv monoclonal antibody that the company intends to develop for topical
treatment in dermatologic indications. Delenex also has several compounds at
pre-clinical stages, among which anti-VEGF, anti-ALK and anti-Abeta antibodies.
It is also using its PENTRA(®) platform to discover new compounds against a
selection of dermatology, CNS and inflammation targets. Delenex' strategy is to
discover highly potent, selective, soluble and stable compounds for
administration to specific body compartments.
About Novo Ventures
Novo A/S is the holding company of the Novo Group, and is wholly owned by the
Novo Nordisk Foundation. Novo A/S was established in 1999 to manage the assets
of the Foundation and actively make investments on behalf of the Foundation.
Novo A/S is not a corporate strategic fund; Novo A/S invests for financial
rather than strategic returns. Novo A/S is active in both Europe and North
America. The Novo A/S venture investments are managed by a team of four Partners
in Copenhagen, one in London and three in San Francisco. With an evergreen
structure, Novo A/S annually invests approximately EUR 200 million through Novo
Ventures, Novo Seeds, and Novo Growth Equity. In total Novo A/S has more than
EUR 15 billion under management, which includes significant shareholdings in the
independently operating and publicly listed companies Novo Nordisk A/S and
Novozymes A/S. For more information, visitwww.novo.dk
About SV Life Sciences
SV Life Sciences is a leading international life sciences venture capital firm.
SVLS affiliated funds have been investing in life sciences companies since the
early 1980s and the firm closed its first defdicated life sciences fund in
1994. The SVLS team manages five venture capital funds and a publicly traded
investment trust with approximately $2 billion of capital under management. The
firm employs a diversified strategy within life sciences in order to selectively
capitalize on an expanding opportunity in biotech, medical devices and health-
care services. SVLS has offices in Boston, London and San Francisco.
About HBM Partners
HBM Partners is among the global leaders in healthcare-focused investing with
approximately USD 800 million under management. HBM focuses on development-
stage, growth and buy-out financings of private companies as well as investments
in public companies. HBM Partners advises HBM BioVentures AG, HBM BioCapital and
further specialized private-equity and public-equity funds. Since 2001, HBM
Partners has realized over 40 IPOs and trade sales from its portfolios of
healthcare and life sciences companies.
About BioMedInvest
BioMedInvest AG I is a healthcare-dedicated venture capital fund based in
Switzerland, providing private equity financing to early- to mid-stage companies
in Switzerland and neighbouring regions (Alpine Rim). BioMedInvest currently
invests out of Fund I, which has a size of CHF 100 million and was closed in
2003. The investment strategy allows for investments in start-up companies
looking for first-round funding through to later-stage or spin-off companies
focused on product development in the biotechnology, emerging pharmaceuticals,
healthcare and medical technology sectors. The amount to invest over the life
time of portfolio companies is about CHF 1-10 million. BioMedInvest typically
plays the lead or co-lead investor role structuring the transaction and
syndicating with other venture capital firms.
About VI Partners
VI Partners is a Swiss venture capital firm that supports university spin-offs
as well as other promising start-up companies with capital, coaching, consulting
and networks. Via the current "Venture Incubator" fund, VI Partners invests
"Smart Money" to develop promising technology-based ideas for products and
services into successful businesses. Venture Incubator was established by
McKinsey & Company and the Swiss Federal Institute of Technology in Zürich
(ETHZ), and started operations in 2001. It now manages an investment fund of CHF
101 million. Its investors represent 10 blue-chip enterprises from industry and
finance.
--- End of Message ---
Delenex Therapeutics AG
Wagistrasse 23 Zürich-Schlieren Switzerland
Press Release (PDF):
http://hugin.info/144623/R/1511488/446921.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Delenex Therapeutics AG via Thomson Reuters ONE
[HUG#1511488]
Unternehmensinformation / Kurzprofil:
Datum: 03.05.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 54137
Anzahl Zeichen: 9890
contact information:
Town:
Zürich-Schlieren
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 180 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Delenex extends its A round to CHF 30.2 million"
steht unter der journalistisch-redaktionellen Verantwortung von
Delenex Therapeutics AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
