Japansk teknologigigant kjøper OncoImmunity AS

Radforsk sitt porteføljeselskap OncoImmunity AS ble 29. juli solgt til den japanske teknologigiganten NEC Corporation (NEC). OncoImmunity AS vil bli et datterselskap av NEC og vil nå fra nå av hete NEC OncoImmunity AS.

 

«Dette er en virkelig stor dag for Radforsk som tidligfase investor. Vi har arbeidet med OncoImmunity AS siden 2015. Vi sto bak den den første emisjonen i 2016 og har som største eier vært dypt involvert i utviklingen av selskapet,», sier Anders Tuv. Tuv er investeringsdirektør i Radforsk og har vært arbeidende styreleder i OncoImmunity AS fram til i dag.

Tuv har vært ansvarlig for gjennomføringen av salgsprosessen mot det japanske storkonsernet NEC Corporation på vegne av aksjonærene. Aksjonærene er fornøyd med transaksjonen og verdiskapingen den har realisert for dem.

NEC er en global leder innen IT integrasjon og nettverksteknologier med over 110 000 ansatte totalt. I mai i år lanserte selskapet sin strategi for utvikling av legemidler basert på kunstig intelligens, AI. NEC skriver i en pressemelding at oppkjøpet av norske OncoImmunity AS vil styrke NEC sin satsing på utvikling av persontilpassede immunterapier.

«Det er åpenbart utfordrende å selge et selskap til et så stort og profesjonelt system som NEC. De gjør svært grundige forundersøkelser, stiller strenge kvalitetskrav til de selskapene de kjøper og gjennomfører oppkjøpsprosesser med høy grad av profesjonalitet. I Radforsk er vi kompromissløse på å investere i kvalitet og profesjonalitet i alle ledd i de selskapene vi investerer i, både i utviklingsfasen og i forbindelse med transaksjoner. Jeg tror det er avgjørende for å lykkes på vegne av aksjonærene med å få i stand suksessfulle transaksjoner med de største og mest sofistikert aktørene i denne industrien», sier Tuv.

 

Stor anerkjennelse for selskapet og det norske kreftmiljøet
OncoImmunity AS har utviklet en software som kan brukes til både å identifisere pasientspesifikke mål for persontilpassede immunterapier, og til å forbedre utvelgelsen av pasienter til kliniske studier. Selskapet tilbyr produktet som en tjeneste til både globale legemiddelfirmaer og biotekselskaper, og melder i forbindelse med oppkjøpet at denne forretningsmodellen videreføres.

«Det er en stor anerkjennelse at en global aktør som NEC ser verdien av produktet og kompetansen vi har utviklet i OncoImmunity AS, og at de kjøper selskapet for å styrke sin satsning og utvikling av AI-drevet kreftbehandling. Dette er også en anerkjennelse av det vi får til i Norge på kreftområdet, og viser at Radforsk har forutsetninger for å utvikle tidligfaseselskaper til betydelige globale posisjoner innenfor den digitale / AI-drevne delen av industrien. Vi mener NEC vil være en god eier fremover, og ønsker virksomheten lykke til i den videre utviklingen», sier Tuv.

NEC OncoImmunity AS holder til i Oslo Cancer Cluster Innovasjonspark og er en del av miljøet i Oslo Cancer Cluster Incubator.

Se mer:

NEC Corporation

www.nec.com

NEC OncoImmunity AS:

www.oncoimmunity.com

 

 

 

 

Japanese technology giant buys OncoImmunity AS

Radforsk’s portfolio company OncoImmunity AS was on July 29th sold to the Japanese technology giant NEC Corporation (NEC). OncoImmunity AS will become a subsidiary of NEC and will now operate under the name NEC OncoImmunity AS.

 

‘This is truly a great day for Radforsk as an early-phase investor. We have worked with OncoImmunity AS since 2015. We were behind the first share issue in 2016, and as its biggest owner we have been deeply involved in the company’s development,’ says Anders Tuv. Mr Tuv is Investment Director of Radforsk and has been executive chair of OncoImmunity AS until today.

 

Mr Tuv has been responsible for managing the sales process in relation to the Japanese group NEC Corporation on behalf of the shareholders. The shareholders are happy with the transaction and the value creation that was realised through it.

NEC is a global leader in the field of IT integration and network technologies, and the group employs more than 110,000 people. In May this year, the company launched its strategy for drug development based on artificial intelligence (AI). NEC writes in a press release that the acquisition of the Norwegian company OncoImmunity AS will strengthen NEC’s individualised immunotherapy programme.

‘It is of course a challenge to sell a company to such a large and professional system as NEC. They are very thorough in their initial examinations, set strict quality requirements for the companies they acquire and conduct the acquisition process in a highly professional manner. Radforsk maintains an uncompromising focus on investing in quality and professionalism throughout the companies we invest in, both during their development phase and in connection with subsequent transactions. I believe this to be crucial to succeeding in bringing about successful transactions with the biggest and most sophisticated industry players on behalf of the shareholders,’ says Mr Tuv.

 

Important recognition of the company and the Norwegian cancer research community
OncoImmunity AS has developed a software capable of selecting patient-specific targets for personalised immunotherapies and improving the selection of patients for clinical trials. The company provides this product as a service to global pharmaceutical companies as well as biotech companies, and stated in connection with the acquisition that this business model will be continued.

‘It is a huge recognition that such a global player as NEC sees the value of the product and expertise that have been developed in OncoImmunity AS and buys the company to strengthen their own investments in and development of AI-driven cancer treatment. It is also a recognition of what Norway is achieving in the field of cancer research, and it shows that Radforsk has what it takes to develop early-phase companies into significant global positions within the digital/AI-driven part of the industry. We believe that NEC will be a good owner going forward, and we wish the enterprise the very best in its future development,’ says Mr Tuv.

NEC OncoImmunity AS is based in Oslo Cancer Cluster Innovation Park and is part of the Oslo Cancer Cluster Incubator environment.

 

For more information, see:

 

NEC Corporation

www.nec.com

 

NEC OncoImmunity AS:

www.oncoimmunity.com

 

 

 

 

Ultimovacs med vellykket børsnotering

Vårt porteføljeselskap  Ultimovacs ASA har hentet inn 370 millioner kroner i en overtegnet emisjon, og ble notert på Oslo Børs 3. juni

 

Investorer viste stor interesse for Ultimovacs ved noteringen på Oslo Børs og emisjonen ble overtegnet. Store norske og internasjonale institusjonelle investorer er kommet inn som nye aksjonærer i selskapet. Blant de nye, store aksjonærene er også spesialiserte helsefond. Ultimovacs opplevde en bred interesse for tegning av aksjer og selskapet vil ved notering ha omkring 1.500 aksjonærer.

«Det er svært gledelig for norsk helsenæring og for Ultimovacs at nasjonale og internasjonale investorer viser selskapet denne tilliten. I dagens usikre marked er det ekstra hyggelig med så stor interesse, både fra internasjonale investorer og småsparere. Jeg ser fram til å følge selskapet videre», sier Jonas Einarsson, styreleder i Ultimovacs og administrerende direktør i Radforsk.

Midlene Ultimovacs henter inn ved børsnoteringen skal finansiere selskapets utviklingsplan for den universelle kreftvaksinen UV1.

 

Ultimovacs med massiv mediaoppmerksomhet

Vårt porteføljeselskap Ultimovacs har fått massiv medieoppmerksomhet det siste døgnet.

Selskapet utvikler en universell kreftvaksine, UV1, og dette ble presentert i et lengre innslag på NRK Søndagsrevyen 12. mai, som ble plukket opp av en rekke norske medier via en NTB-melding.

Se innslaget på NRK her.

 

 

 

Our portfolio company OncoImmunity receives €2.2 million

OncoImmunity receives €2.2 million to roll out its machine-learning platform to enable the development of personalized cancer immunotherapies.

The bioinformatics company OncoImmunity has been awarded the prestigious EU SME Instrument funding. The company’s flagship product, the ImmuneProfiler™, is a unique machine learning solution that has made inroads into solving the neoantigen prediction challenge. OncoImmunity enables their partners to solve the “needle in the haystack” challenge of identifying the right cocktail of neoantigens for each individual patient, and design a vaccine or cell therapy uniquely tailored to their specific tumor.

The machine learning company is based in both Oslo Norway and Cambridge Massachusetts in the USA, and this funding will advance further its capability to tailor the ImmuneProfiler™ for specific vaccine platforms, facilitating the design of safer and more efficacious personalised cancer vaccines.

“This project matches our ambition to position OncoImmunity as the leading supplier of neoantigen identification software in the personalized cancer vaccine market,” says Dr. Richard Stratford, Chief Executive Officer and Co-founder of OncoImmunity.

– The ImmuneProfiler™ is already a powerful antigen presentation prediction tool, with demonstrated utility in predicting antigens that are presented and visible to a patient’s T cells. With these funds OncoImmunity will further advance its generic platform to learn the precise constellation of potential neoantigens that are immunogenic in different vaccine delivery systems, says Dr. Trevor Clancy, Chief Scientific Officer and Co-founder of OncoImmunity.

About OncoImmunity:

OncoImmunity is a machine-learning company offering a proprietary technology to address the key knowledge gaps in the prediction of bone fide immunogenic neoantigens for personalized cancer immunotherapy. OncoImmunity’s software facilitates effective patient selection for cancer immunotherapy, and identifies optimal neoantigen targets for truly personalized cancer vaccines & cell therapies in a clinically actionable time-frame.

www.oncoimmunity.com

Source: OncoImmunity

Nordic Nanovector receives Promising Innovative Medicine Designation

Our portfolio company Nordic Nanovector receives Promising Innovative Medicine Designation in the UK for the Treatment of Follicular Lymphoma with their lead product Betalutin®.

 

Lisa Rojkjaer MD, Nordic Nanovector Chief Medical Officer, commented:

“We are delighted by the MHRA’s decision to award PIM designation to Betalutin®. This acknowledges the high unmet medical need of this patient population as well as the potential of Betalutin® to offer therapeutic benefits to FL patients. Both the PIM and Fast Track designations (granted by the FDA in June) are very encouraging, as they provide opportunities for enhanced dialogue with health authorities and the potential to bring Betalutin® to patients more quickly.”

 

PIM designation constitutes Step 1 of the UK Early Access to Medicines Scheme (EAMS). EAMS aims to give patients in the UK early access to medicines that do not yet have a marketing authorisation but meet a medical need that is currently not being met. PIM designation means that a medicinal product is a promising candidate for the EAMS, for the treatment, diagnosis or prevention of life-threatening or seriously debilitating conditions with an unmet need.

 

Source: Nordic Nanovector

Om Vaccibody i NRK EKKO

NRK EKKO, NRK sitt aktuelle samfunnsmagasin på radio, har laget et eget innslag om den persontilpassede kreftvaksinen som vår porteføljebedrift Vaccibody utvikler.

 

Targovax: Reports full data set on clinical trial of cancer vaccine TG01

Our portfolio company Targovax reports encouraging disease-free survival (DFS) data from TG01 trial in resected pancreatic cancer:

  • 16.1 months median DFS with TG01 and gemcitabine combination for all 32 patients in the trial
  • 19.5 months DFS in 2nd cohort who received an optimized dosing regimen
  • 94% of patients had mutant RAS specific adaptive immune activation

The results are based on the full data set from the 32-patient phase I/II clinical trial evaluating TG01 in resected pancreatic cancer in combination with standard of care chemotherapy, gemcitabine.

 

Dr. Magnus Jäderberg, CMO of Targovax, said:

“We have previously reported strong immune activation and signal of efficacy for TG01 in resected pancreatic cancer. The median DFS data now presented further strengthens our confidence that TG01 provides a clinically meaningful benefit for this patient population, especially when in the context of historical controls. The DFS benefit appears to be more pronounced in the second cohort, which indicates that the post-chemo vaccination schedule is an optimal dosing regimen that we should select in subsequent development. It is also worth noting that median overall survival has not yet been reached in the second patient cohort, and we will continue to track how these patients perform with great interest”.

 

New CEO in Photocure

Our portfolio company Photocure ASA has appointed Daniel Schneider as Chief Exceutive Officer and President. 

Mr Schneider joins Photocure from the position of General Manager for Ablynx N.V. in North America.

Mr Schneider will commence the position upon further agreement, expected prior to 1 November 2018. Erik Dahl will continue to serve as the acting Chief Executive Officer until Mr Schneider’s commencement of his position, after which Mr Dahl will resume his previous role as the Chief Financial Officer of Photocure.

“The Photocure team has built a unique company within the field of bladder cancer, with excellent people, world leading technology and high-potential products. The company has developed a solid infrastructure in key regions, especially in the U.S. We will continue to scale and leverage on this growth platform to deliver on the commercial opportunities in the bladder cancer markets. I look forward to work with the team to expand the commercial footprint and to embark on the growth journey for Photocure”, says Mr Schneider.

 

Accelerated growth in the U.S market
“I am pleased to announce Dan Schneider as our new President and Chief Executive Officer. Photocure is entering a period of accelerated growth in the important U.S. market with strengthened focus on commercial development. Dan brings over 25 years of experience in developing and expanding rapidly growing healthcare companies in the U.S. He will further leverage on the opportunities arising from Photocure’s unique position in the bladder cancer market. I look forward working with Dan to develop Photocure into becoming the leading bladder cancer company”, says Jan H. Egberts, M.D. Chairman of the Board.

Mr Schneider follows Kjetil Hestdal as CEO, whom stepped down July 1st after being part of the company in over two decades.

“As Photocure is entering a phase with vast growth opportunities and an ambition to expand the global commercial footprint, the timing is right to inform all stakeholders that I will not lead Photocure in the company’s next era. I am proud of having been part of a company that has helped tens of thousands of bladder cancer patients in fighting their disease. Photocure is a great company with excellent people, world leading technology and products, and is perfectly positioned to be a true industry leader within the field of bladder cancer”, says Kjetil Hestdal.

Listen to our interview with Kjetil Hestdal in our podcast Radium.

 

About Photocure ASA
Photocure, The Bladder Cancer Company, delivers transformative solutions to improve the lives of bladder cancer patients. Our unique technology, which makes cancer cells glow bright pink, has led to better health outcomes for patients worldwide. Photocure is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (OSE: PHO). The US headquarters for Photocure Inc., are in Princeton, New Jersey.

For more information, please visit us at www.photocure.com, www.hexvix.com or www.cysview.com

 

Source: Photocure

Update on PARADIGME from Nordic Nanovector

Our portfolio company Nordic Nanovector provided an update on its clinical development programme, including updated guidance on expected milestones for the pivotal PARADIGME trial in early April. At the same time CEO Luigi Costa informed that he would resign from his position. 

 

 

Nordic Nanovector’s lead clinical-stage candidate is Betalutin®, a novel CD37-targeting Antibody-Radionuclide-Conjugates (ARC) designed to advance the treatment of non-Hodgkin’s Lymphoma (NHL). PARADIGME is a global randomised Phase 2b study comparing two Betalutin® dosing regimens in third line follicular lymphoma (3L FL) patients, which have shown a promising clinical profile in the LYMRIT 37-01 Phase 1/2a trial.

 

  • The pivotal PARADIGME study was initiated at the end of 2017 in Europe and the first patient is expected to be dosed during the first half of 2018. The trial is aiming to enrol 130 patients in 20 countries
  • To date, PARADIGME is open for enrolment at 13 sites and in six countries
  • In Norway, PARADIGME is pending approval and the company is working closely with the Norwegian regulators to address its questions
  • In the USA, the Food & Drug Administration (FDA) has completed its review of the PARADIGME study and Nordic Nanovector expects US sites to be open for enrolment during mid-2018

Lisa Rojkjaer MD, Nordic Nanovector CMO, said: “While we are encouraged with the progress being made to the start-up of the pivotal PARADIGME study, a re-analysis of the patient enrolment rate and the fact that it has taken longer than expected to enrol the first patient have led us to adjust the timelines we previously communicated. We now expect to deliver data from PARADIGME in the first half of 2020.

“The PARADIGME study reflects our conviction in the significant potential of Betalutin® based on the promising clinical data generated to-date. We therefore remain committed to completing this robust study, which is designed to select the best dosing regimen to support Betalutin® as an important new treatment option for 3L FL patients.”

 

Highlights from the update:

• A re-assessment of expected recruitment rates has led the company to revise its timelines for the pivotal PARADIGME Phase 2b trial with Betalutin® in third line (3L) follicular lymphoma (FL) patients. Results from PARADIGME are targeted for 1H 2020 (previously 2H 2019) and first regulatory filing in 2020. The first patient is expected to be dosed in 1H 2018.

• The company will focus its resources towards PARADIGME and other Betalutin® clinical programmes, which has led to the decision to postpone the start of the first-in-human clinical trial with Humalutin® for the foreseeable future; this study was being prepared to start in 2H 2018.

• Guidance is unchanged for previously reported milestones for ARCHER-1 (Betalutin® plus rituximab in second line FL; first patient dosed) and LYMRIT 37-05 (Betalutin® in R/R diffuse large B cell lymphoma, DLBCL; preliminary data read-out), both anticipated in 2H 2018.

• Financial resources are expected to be sufficient to reach data read-out from PARADIGME

 

About Nordic Nanovector

Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The Company aspires to become a leader in the development of targeted therapies for haematological cancers.

Nordic Nanovector’s lead clinical-stage candidate is Betalutin®, a novel CD37-targeting Antibody-Radionuclide-Conjugates (ARC) designed to advance the treatment of non-Hodgkin’s Lymphoma (NHL). NHL is an indication with substantial unmet medical need, representing a growing market forecast to be worth nearly USD 20 billion by 2024.

Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation of Betalutin® in core markets.

The Company is also advancing a pipeline of ARCs and other immunotherapies for multiple cancer indications.

Further information about the Company can be found at www.nordicnanovector.com

 

Source: Nordic Nanovector