Anaveon Raises CHF 110 Million in Oversubscribed Series B Funding | Nation / World
– First international union led by Forbion and founded by founding investor Syncona
– Confirms depth of support for Anaveon’s approach to the development of modified cytokines in multiple indications
BASEL, Switzerland, December 16, 2021 (GLOBE NEWSWIRE) – Anaveon, a clinical-stage immuno-oncology company, today announced that it has completed a CHF 110 million Series B financing led by incoming investor Forbion , whose cornerstone is the founder investor Syncona, also joined by existing investor Novartis Venture Fund, as well as new investors, Cowen Healthcare Investments (a division of Cowen Investment Management), Pfizer Ventures and Pontifax. As part of the Series B funding, Jasper Bos (Forbion), Tim Anderson (Cowen) and Denis Patrick (Pfizer Ventures) will join the Anaveon board at closing, which is expected before year end. .
Anaveon Undertakes Phase I / II Study to Evaluate the Safety, Dosage and Clinical Activity of Its Primary Program, ANV419, a Potent and Selective Interleukin-2 (IL-2) Agonist in Patients with solid tumors. The proceeds of this financing will allow the Company to pursue several parallel Phase II programs in order to explore the full therapeutic potential of ANV419. In addition, this will allow Anaveon to continue its work in the development of follow-up compounds to extend the success of ANV419 in delivering the IL-2 agonist to antitumor cells and thus extend the therapeutic potential to less immunogenic tumors. In addition, the Company relies on its expertise in cytokine engineering with preclinical stage programs exploiting the power of cytokines for therapeutic purposes.
“There is strong momentum behind Anaveon and we are delighted to welcome leading European and US investors Forbion, Cowen Healthcare Investments, Pfizer Ventures and Pontifax to the company. I would also like to personally thank our existing founding investors for their continued guidance and support in bringing the company to this point, ”said Andreas Katopodis, co-founder and CEO of Anaveon. “With this fundraiser, we have made it clear the extent and nature of our ambitions to rapidly bring cancer therapies to patients with high unmet medical need, as well as to benefit from the experience of our in-house cytokine engineering experts to expand our pipeline for the benefit of patients with immune deregulation pathologies.
“We continue to be very encouraged by Anaveon’s significant progress with its flagship product, ANV419, as well as its future ambitions to expand the pipeline,” added Martin Murphy, Managing Director of Syncona Investment Management Limited and Chairman of the Board of Directors of Anaveon. “The company seeks to develop modified cytokines in multiple indications and to draw on the deep expertise of the experienced team to deliver significant benefits to patients with limited treatment options. “
Jasper Bos, Managing Partner of Forbion and new Director of the Anaveon Board of Directors, said: “We were very impressed with the scientific co-founders, the management team, the board of directors and the vision for the company. , and we’re excited to support Anaveon as they advance ANV419 across the clinic and expand the pipeline into new indications.
Anaveon, founded in December 2017, is developing selective IL-2 receptor agonists, which have the potential to therapeutically enhance a patient’s immune system to respond to tumors. In the body, human IL-2 stimulates a type of immune cell called a T cell to multiply and become active. Activated T cells are able to attack tumors and, in accordance with this approach, human IL-2 is already approved as a therapy for the treatment of metastatic melanoma and kidney cancer; however, due to the lack of specificity, human IL-2 has severe dose-limiting side effects and a short half-life which requires frequent infusions. The lead compound, ANV419, is designed to preferentially signal via the IL-2 beta / gamma receptor and therefore overcome the known challenges of human IL-2. This new type of therapy, if approved, could potentially have great utility in oncology, including in combination with cell therapies, vaccines, checkpoint inhibitors and radiation therapy.
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Anaveon is a Swiss-based, clinical-stage biopharmaceutical company developing biologics to modulate cytokine function and provide substantial therapeutic benefit to cancer patients. Our vision is to develop new immune therapies benefiting patients suffering from a wide variety of diseases with immune pathology. For more information, please visit the company’s website at: www.anaveon.com.
Syncona’s goal is to invest to extend and improve human life. We do this by creating and building businesses to provide transformational treatment to patients in areas of high unmet needs.
Our strategy is to found, build and fund companies around exceptional science to create a diverse portfolio of 15-20 leading global healthcare companies for the benefit of all of our stakeholders. We are focused on developing treatments for patients by working closely with university founders and world-class management teams. Our track record underpins our strategy to take a long-term view as we seek to improve the lives of patients without treatment options or without treatment options, build sustainable life science companies and deliver strong risk-adjusted returns to shareholders.
Forbion is a dedicated life sciences venture capital firm with offices in the Netherlands, Germany and Singapore. Forbion invests in life science companies active in the (bio-) pharmaceutical field. Forbion manages more than 1.7 billion euros through several fund strategies that cover all stages of the development of (bio) pharmaceutical drugs. The current Forbion team consists of 20 life science investment professionals who have amassed impressive performance since the late 90s with successful investments in more than 70 companies. The firm is a signatory of the United Nations Principles for Responsible Investment. In addition to financial goals, Forbion selects investments that will have a positive impact on the health and well-being of patients. Its investors include the EIF, through its European recovery program (ERP), LfA, Dutch Venture Initiative (DVI), the AMUF and EFSI facilities and KfW Capital through the “ERP – Venture Capital Fund” program. investments ”. Forbion operates a joint venture with BGV, the seed and start-up fund manager, particularly focused on the Benelux and Germany.
For more information, please visit: www.forbion.com
About Novartis Venture Fund:
Novartis Venture Fund is an enterprise-class life sciences venture capital fund with the objective of fostering innovation, generating significant benefits for patients and generating superior returns by creating and investing in innovative life science companies at different stages of their development. For more information, visit: www.nvfund.com.
About Pfizer Ventures:
Pfizer Ventures, the venture capital arm of Pfizer Inc., was founded in 2004 and invests for return in areas of current or future strategic interest to Pfizer. Pfizer Ventures seeks to stay at the forefront of advancements in life sciences, seeking to identify and invest in emerging companies that develop transformative drugs and technologies that have the potential to enhance Pfizer’s pipeline and shape the future of our business. industry.
About Cowen Healthcare Investments:
Cowen Healthcare Investments invests trust capital in healthcare companies in the biopharma, diagnostics and digital health industries. Cowen Healthcare Investments is a strategy of Cowen Investment Management, which develops differentiated and actively managed products on behalf of its clients. Cowen Investment Management is a division of Cowen Inc. Read more about www.cowen.com.