Remora Capital achieves its first exit
Remora Capital SA, an independent investment company active since 2010 in healthcare, beauty care and nutrition start-ups, completes its first successful exit as PPF group acquires a significant minority stake inCytune Pharma, an oncoimmunology biotechnology company.
PPF group N.V. announced on February 4, 2015, the acquisition of a minority stake in biotech company Cytune Pharma in cooperation with SOTIO (www.sotio.com/news/ppf-group-acquires-a-minority-stake-in-biotech-company-cytune-pharma-in-cooperation-with-sotio). PPF Group, an investment group with assets of EUR 24 billion as of June 30, 2014, is active in the biotech oncology sector through stakes in SOTIO, Oribase Pharma, and now Cytune Pharma.
Remora Capital completed its initial investment in Cytune Pharma in 2011 after recognizing that this start-up owned a highly competitive drug candidate, RLI-15, for stimulating T-cells and NK-cells, the pivotal actors of anti-cancer immunity. RLI-15 has the potential to combine with new immuno-oncology drugs as check-point inhibitors (e.g. anti-PD-1 antibodies). Ever since, and in accordance with its entrepreneurial hands-on business model, Remora’s team of professionals has teamed up with Cytune Pharma as main strategic and financial advisor.
Remora Capital has chosen to remain a strategic minority investor in Cytune Pharma.
Managing Partner of Remora Capital, Jean-Marc Le Doussal said: “This first exit strengthens our investment model focusing on our selected sectors of expertise where our team provides strategic inputs.” He adds: “With Cytune Pharma and other portfolio companies, Remora will keep on seizing opportunities in the immuno-oncology market that should reach USD 40 billion within the next decade.”
Founder and President of Cytune Pharma, David Bechard commented: “I would like to thank our shareholders for their confidence and commitment, especially Remora for their long-term partnership based on mutual trust, intellectual challenge and operational commitment.”
Remora Capital SA, Lausanne, Switzerland, is an independent entrepreneurial investment company specialized in the healthcare, beauty care, and nutrition industries. Leveraging on its industrial and financial expertise, Remora Capital provides, though its advisory arm Remora Partners, hands-on and sustainable support to innovative companies in Switzerland and surrounding countries.
Remora Capital is currently invested in numerous start-up companies, including 4 active in oncology and immuno-oncology: Cytune Pharma ; Atlab Pharma, specialized in antibody-targeted radiotherapy, with a clinical-stage drug candidate against prostate cancer; OGD2 Pharma, specialized in anti-ganglioside immunotherapy, with a preclinical-stage antibody orphan drug candidate in pediatric cancers; Ayanda Biosystems, specialized in breast and ovarian cancer diagnostics.
About Cytune Pharma
Cytune Pharma is a private company dedicated to the research and development of a portfolio of novel immunotherapeutic agents which expand and activate immune responses to treat advanced cancers. Cytune Pharma leverages the transpresentation mechanism of the critical immune factor, IL-15, by the IL-15Ra chain thanks to the development of a proprietary scientific breakthrough in immunology. Its proprietary lead product, CYP0150 (RLI), is a human fusion protein between IL-15 and the high-affinity binding site of IL-15Ra. Cytune is further developing different antibody-RLI conjugates. Cytune’s technology originally emanates from the Dr Yannick Jacques’s academic team at the Inserm unit U892 of Nantes, France. The company was founded in 2007.