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SutroVax Announces $85M Series C Finance led by TPG

Jun 7, 2018

FOSTER CITY, Calif., June 7, 2018 /PRNewswire/ — SutroVax, a biopharmaceutical company dedicated to the delivery of best-in-class conjugate vaccines and novel complex antigen-based vaccines to prevent serious infectious diseases, today announced the closing of an upsized $85 million Series C financing led by new investor TPG Growth, the global middle market and growth equity platform of TPG. Other new investors include Medicxi and Foresite Capital. All of SutroVax’s existing institutional investors, including Abingworth, Longitude Capital, Frazier Health Care Partners, Pivotal bioVenture Partners, Roche Venture Fund, and CTI Life Sciences Fund also participated in the financing.

Proceeds of the financing will be used to advance the company’s potentially best-in-class broad-spectrum pneumococcal conjugate vaccine (PCV) candidate through mid-stage clinical development and continue to expand its pipeline of novel vaccines. SutroVax’s PCV is designed to prevent invasive pneumococcal disease caused by Streptococcus pneumoniae and is uniquely positioned to significantly expand protection against circulating strains of pneumococcus.

SutroVax is also announcing a strategic contractual relationship with Lonza Pharma & Biotech, one of the world’s leading contract manufacturers of complex biologics, to manufacture its PCV program via an end-to-end supply relationship. The parties have established strong alignment on process and conjugation development, as well as microbial manufacturing scale-up for drug substance at Lonza’s Visp, Switzerland, site. This close technical collaboration between SutroVax and Lonza will support the successful delivery of this potentially best-in-class vaccine to the clinic as efficiently as possible and to streamline its advance to the market.

“Assembling growth capital with world-class manufacturing capabilities enhances our ability to bring to market a better version of the best-selling vaccine of all time and provides the building blocks for the company to mature into a fully integrated vaccine company,” said Grant Pickering, CEO and Founder of SutroVax. “Furthermore, we are delighted to welcome Dr. Moncef Slaoui to the Chairman role, where his experience building GSK into the world’s leading vaccine company will serve us well as we work to deliver on the vast potential of this opportunity. We also want to thank Kurt von Emster for his Chairmanship over the past three years, while the company delivered on its initial vision and fortified its position raising over $170M in equity capital.”

In conjunction with the closing of the financing, Heath Lukatch, Ph.D., Partner at TPG, will join the SutroVax Board of Directors and Francesco de Rubertis, Ph.D., Founding Partner of Medicxi, will join as a Board Observer.

“SutroVax’s unique technology has the potential to disrupt the conjugated vaccine space,” said Lukatch. “The company’s ability to create high-valency vaccines with strong immunogenicity is what attracted TPG Growth to this deal. We believe that SutroVax’s PCV program is well positioned to dramatically improve on the current standard of care for prevention of pneumococcal disease, offering the opportunity to replace existing pneumococcal vaccines used in both infants and adults.”

Moncef Slaoui, Ph.D. commented, “After almost a year as an independent board member, I have come to fully appreciate the huge potential of SutroVax’s PCV program. I am thrilled to take on the Chairman role and I am confident we will advance this program to a clear clinical proof of concept and ultimately make it available for broad use.”

“The marriage of this state-of-the art vaccine with broad organizational alignment between our two companies is a perfect fit with our strategy of being one of the world’s leading, integrated value-added solution providers,” said Karen Fallen, VP, Business Unit Head Clinical Development & Manufacturing. “Lonza’s expertise in complex molecule development, microbial production and conjugation capabilities, along with our commercial production presence, will support delivery of this important vaccine for SutroVax at this critical phase in the lifecycle of their company.”

About Pneumococcal Disease and the Pneumococcal Vaccine Market

Pneumococcal disease is an infection caused by Streptococcus pneumoniae. This infection can cause a wide range of serious illnesses including pneumonia, meningitis and blood stream infection as well as ear and sinus infections. According to the Centers for Disease Control and Prevention (CDC), an estimated 900,000 Americans suffer from pneumococcal pneumonia each year and up to 400,000 hospitalizations occur in the U.S. In addition, about 18,000 older adults die each year from pneumococcal disease in the U.S. The market-leading vaccine is a 13-valent PCV, Prevnar 13®, that has worldwide sales of approximately $6 billion annually, yet does not protect against a significant number of circulating strains of pneumococcus causing invasive disease in adults and children. In the U.S., the CDC’s Advisory Committee on Immunization Practices (ACIP) recommends all children aged two months to five years and immunocompromised children aged six years and older be vaccinated with Prevnar 13. In addition, the ACIP recommends all adults aged 65 years and older and immunocompromised adults aged 19 years and older be vaccinated with Prevnar 13 and Pneumovax®, a 23-valent non-conjugate vaccine with over $800 million in annual sales.

About SutroVax

SutroVax is an independent vaccine platform and development company whose mission is to deliver best-in-class conjugate vaccines and novel complex antigen-based vaccines to prevent serious infectious diseases. SutroVax conjugate vaccines are developed utilizing the Company’s exclusive rights to Sutro Biopharma’s Xpress CF™ Platform, a cell-free protein synthesis technology. The platform represents a major advancement over conventional conjugate vaccine production methods, by enabling precise and consistent conjugation of antigens to site-specific locations on a protein carrier that do not impede T-cell help resulting in higher-potency conjugates. SutroVax is utilizing these more potent conjugates to develop, among other programs, a broader-spectrum PCV product. For more information, visit www.sutrovax.com.

About TPG Growth

TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With approximately $13.5 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has more than $82 billion of assets under management. For more information, visit www.tpg.com.

About Medicxi

Medicxi’s mission is to invest across the full healthcare continuum. Medicxi’s team has been investing in life sciences for over 20 years and was established by the former Index Ventures life sciences team. Medicxi manages the legacy life science portfolio of Index Ventures as well as the new funds launched as Medicxi, Medicxi Ventures 1 (MV1) and Medicxi Growth 1 (MG1) focusing on early-stage and late-stage investments in life sciences. GSK, Johnson & Johnson and Novartis, three of the world’s largest pharmaceutical companies back Medicxi along with Verily, an Alphabet company. For more information, visit www.medicxi.com.

About Foresite Capital

Foresite Capital is a multi-stage healthcare and life sciences investment firm that applies rigorous scientific and data-driven approaches to investment analysis. The firm has $2 billion under management. Foresite Capital takes a collaborative approach to investing with its portfolio companies by providing a multidisciplinary team of scientists, engineers, analysts, and clinicians who understand the unique business models in healthcare in addition to capital. The company aims to address areas of great unmet clinical need over the long term by funding promising healthcare and life sciences businesses at all stages of their life cycles. Its portfolio also emphasizes companies that are employing the tools of data science and machine intelligence in healthcare. For more information, visit www.foresitecapital.com.

About Lonza

Lonza is one of the world’s leading and most-trusted suppliers to the pharmaceutical, biotech and specialty ingredients markets. As an integrated solutions provider, Lonza is boosting its value creation along and beyond the healthcare continuum with a strong focus on patient healthcare, consumer preventive healthcare and consumer’s healthy environment. Lonza harnesses science and technology to create products that support safer and healthier living and that enhance the overall quality of life. With the recent Capsugel acquisition, Lonza now offers products and services from the custom development and manufacturing of active pharmaceutical ingredients to innovative dosage forms for the pharma and consumer health and nutrition industries. Benefiting from its regulatory expertise, Lonza is able to transfer its know-how from pharma to hygiene and fast-moving consumer goods all the way to coatings and composites and the preservation and protection of agricultural goods and other natural resources. Founded in 1897 in the Swiss Alps, Lonza today is a well-respected global company with more than 100 sites and offices and approximately 14,500 full-time employees worldwide. The company generated sales of CHF 5.1 billion in 2017 with a CORE EBITDA of CHF 1.3 billion. For more information, visit www.lonza.com.

Contact:
Julie Rathbun
Rathbun Communications
206-769-9219
julie@rathbuncomm.com

SOURCE SutroVax

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Entasis Therapeutics to Present Data on ETX2514 and ETX0282 at ASM Microbe 2018

Jun 6, 2018

WALTHAM, Mass. – June 6, 2018 – Entasis Therapeutics, a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibacterial products, today announced multiple presentations at the American Society of Microbiology (ASM) Microbe 2018 Conference, taking place June 7-11 in Atlanta, GA. Presentations will include clinical and preclinical data on ETX2514, a novel broad spectrum β-lactamase inhibitor being developed in combination with sulbactam to treat Acinetobacter baumannii infections, and ETX0282, a novel, broad spectrum oral β-lactamase inhibitor being developed in combination with cefpodoxime proxetil to treat infections caused by multidrug-resistant (MDR) Gram-negative pathogens, including multidrug-resistant and carbapenem-resistant Enterobacteriaceae (CRE).

The details of the presentations are as follows:

ETX2514 Presentations:

Oral Presentation: Plasma and Intrapulmonary Concentrations of ETX2514 and Sulbactam in Healthy Adult Subjects
Session: 529 – Real Time Tissue Pharmacokinetic Monitoring
Date and Time: June 11, 2018 11:30 AM – 11:45 AM
Location: A410

Poster #517: Plasma and Intrapulmonary Concentrations of ETX2514 and Sulbactam in Healthy Adult Subjects
Session: 409 – AAR04 – Antimicrobial PK/PD & General Pharmacology: Clinical Studies
Date and Time: June 10, 2018 12:45 PM – 2:45 PM
Location: Exhibit and Poster Hall, Building B, Halls B2-B5

Poster #604: Restoration of Sulbactam Activity by the Novel β-lactamase inhibitor ETX2514 against recent clinical isolates of Acinetobacter baumannii, including extensively drug-resistant (XDR) isolates expressing OXA-237
Session: 062 – AAR08 – New Antimicrobial Agents and New Research Technologies: New β-lactamase Inhibitors and Inhibitor Combinations
Date and Time: June 8, 2018 11:00 AM – 1:00 PM
Location: Exhibit and Poster Hall, Building B, Halls B2-B5

Poster #605: The combination of ETX2514, a novel diazabicyclooctenone β-lactamase inhibitor (BLI), and sulbactam overcomes carbapenem resistant Acinetobacter baumannii (CRAB)
Session: 062 – AAR08 – New Antimicrobial Agents and New Research Technologies: New β-lactamase Inhibitors and Inhibitor Combinations
Date and Time: June 8, 2018 11:00 AM – 1:00 PM
Location: Exhibit and Poster Hall, Building B, Halls B2-B5

Poster #606: Evaluation of Pharmacokinetics/Pharmacodynamics of the novel β-lactamase inhibitor, ETX2514, in combination with sulbactam against Acinetobacter baumannii
Session: 062 – AAR08 – New Antimicrobial Agents and New Research Technologies: New β-lactamase Inhibitors and Inhibitor Combinations
Date and Time: June 8, 2018 11:00 AM – 1:00 PM
Location: Exhibit and Poster Hall, Building B, Halls B2-B5

Poster #1103: Structural Analyses of Inhibition of OXA-24 and ADC-7 β-lactamases by ETX2514, A Novel Diazabicyclooctenone β-lactamase Inhibitor (BLI)
Session: 097 – MBP16 – Structural Biology
Date and Time: June 8, 2018 11:00 AM – 1:00 PM
Location: Exhibit and Poster Hall, Building B, Halls B2-B5

ETX0282 Presentation:

Poster #603: The novel β-lactamase inhibitor ETX1317 effectively restores the activity of cefpodoxime against extended spectrum β-lactamase (ESBL)- and carbapenemase-expressing Enterobacteriaceae isolated from recent urinary tract infections
Session: 062 – AAR08 – New Antimicrobial Agents and New Research Technologies: New β-lactamase Inhibitors and Inhibitor Combinations
Date and Time: June 8, 2018 11:00 AM – 1:00 PM
Location: Exhibit and Poster Hall, Building B, Halls B2-B5

Discovery Platform Presentation:

Oral Presentation: Addressing the Challenge of Gram-negative Permeation in Antibacterial Discovery
Session: 123 – Riddles and Rules of Gram-negative Permeation
Date and Time: June 8, 2018 1:30 PM – 2:15 PM
Location: Exhibit and Poster Hall, Building B, Halls B2-B5, AAR Hub

About ETX2514SUL
ETX2514 is a novel broad-spectrum intravenous inhibitor of class A, C and D β-lactamases. ETX2514 restores the in vitro activity of multiple β-lactams against Gram-negative, multidrug-resistant pathogens. Entasis is initially developing ETX2514SUL, a fixed-dose combination of ETX2514 and sulbactam, for the treatment of a variety of serious multidrug-resistant infections caused by A. baumannii. Sulbactam is a generic β-lactam that has intrinsic antibacterial activity against A. baumannii but suffers from widespread β-lactamase-mediated resistance. In preclinical studies, ETX2514 restored sulbactam antibacterial activity against A. baumannii. ETX2514 has completed single- and multi-ascending dose Phase 1 trials. The U.S. Food and Drug Administration has granted Qualified Infectious Disease Product (QIDP) designation and Fast Track designation to ETX2514SUL for the treatment of hospital-acquired and ventilator-acquired bacterial pneumonia and bloodstream infections due to A. baumannii.

About ETX0282CPDP
ETX0282 is an orally available, broad spectrum inhibitor of Class A and C beta-lactamases. Entasis is developing ETX0282 in combination with cefpodoxime, an orally available cephalosporin approved for treatment of a variety of bacterial infections. Cefpodoxime’s clinical utility is currently limited by beta-lactamase-mediated resistance. In preclinical studies, ETX0282 restored cefpodoxime’s antimicrobial activity against a variety of pathogens, including Enterobacteriaceae resistant to fluoroquinolones, cephalosporins and carbapenems. Entasis is initially developing ETX0282CPDP, the combination of ETX0282 and cefpodoxime, for the treatment of infections caused by Enterobacteriaceae, including multidrug-resistant and carbapenem-resistant Enterobacteriaceae (CRE). ETX0282CPDP is partially supported by an award from the Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator program (CARB-X).

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About Entasis Therapeutics Inc.
Entasis is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel antibacterial products to treat serious infections caused by multidrug-resistant Gram-negative bacteria. Entasis’ targeted-design platform has produced a pipeline of product candidates, including ETX2514SUL (targeting A. baumannii infections), ETX0282CPDP (targeting Enterobacteriaceae infections), and zoliflodacin (targeting Neisseria gonorrhoeae). Entasis is also using its platform to develop a novel class of antibiotics, non-β-lactam inhibitors of the penicillin-binding proteins (NBPs) (targeting Gram-negative infections). For more information, visit www.entasistx.com.

About CARB-X
CARB-X is the world’s largest public-private partnership devoted to early stage antibacterial research and development. Funded by ASPR/BARDA and Wellcome Trust, with in-kind support from NIAID, CARB-X is investing up to $455 million from 2016-2021 to support innovative products from ‘hit-to-lead’ phase through to Phase 1 clinical trials. CARB-X focuses on high priority drug-resistant bacteria, especially Gram-negatives. CARB-X operates through Boston University. Other partners include RTI International, the Broad Institute of Harvard and MIT, MassBio and the California Life Sciences Institute (CLSI). For more information,                     visit www.carb-x.org.

This press release is supported by the Cooperative Agreement Number IDSEP160030 from ASPR/BARDA and by an award from Wellcome Trust, as administrated by CARB-X. The contents are solely the responsibility of the authors and do not necessarily represent the official views of CARB-X, the HHS Office of the Assistant Secretary for Preparedness and Response, the National Institutes of Health or Wellcome Trust.

Pivotal bioVenture Partners China Closes Inaugural $150 Million Early Stage VC Fund

May 24, 2018

Shanghai, China— (BUSINESS WIRE)—May 24, 2018— Pivotal bioVenture Partners China (Pivotal China), a member of Nan Fung Life Sciences (NLFS) announced today the closing of Pivotal bioVenture Partners China USD Fund I, raising $150 million to incubate and build Life Sciences companies in China. Pivotal China was founded by Mr. Vincent Cheung, who is the Chairman of NFLS and Managing Director and COO of Nan Fung Group. It is led by Dr. Jimmy Wei, Mr. Meng Gao and Mr. Shannon Cheung. Pivotal China will focus on incubating new life sciences companies in China by in-licensing innovative products and technologies that could serve unmet medical needs of the growing China market. Pivotal China will invest broadly in pharmaceuticals, devices and service sectors.

“China is catching up in healthcare innovation,” said Dr. Jimmy Wei, Managing Partner of Pivotal bioVenture Partners China. “By creating new companies with entrepreneurs and global partners, Pivotal China fund intends to bring global technologies to China quickly and efficiently. The vision of Pivotal China is to create a life sciences ecosystem to generate synergies among portfolio companies and foster the innovations in China. We are doing this by building one of the most experienced teams among our peers, and by combining a broad global exposure with strong expertise in the local Chinese market. Leveraging on Nan Fung Life Sciences’ presence in the US and Europe, we hope to actively source cutting-edge innovative technologies”.

Prior to joining Pivotal China, Dr. Jimmy Wei was the Managing Partner at iBridge Capital and the Partner at the KPCB China fund, where he was involved with the formation of companies such as Zai Lab, JHL Biotech, XW Lab and iMab. Prior to joining Pivotal China, Mr. Meng Gao was a Managing Director at Blackstone’s Private Equity Group and Mr. Shannon Cheung was the Founder and Chief Executive Officer of Averest Capital, an investment company focusing on healthcare, TMT and environmental technology sectors and Co-Founder and Vice Chairman of Likang Life Sciences .

About Nan Fung Life Sciences (NFLS)

Nan Fung Life Sciences, part of Nan Fung Group, is a global investment platform focusing on life sciences. Leveraging on Nan Fung Group’s strong capital base and long-term commitment to the area, the company is aimed to become the ideal partner for scientists, entrepreneurs, corporations and investors in the life science space. Through direct investments via Pivotal bioVenture Partners funds (both in US and China) and fund investments covering full spectrum of the industry (including therapeutics, medical devices and diagnostics) and across different development stages, Nan Fung Life Sciences has significant presence in both US and Greater China.

About Nan Fung Group

Nan Fung Group, founded in 1954, Nan Fung Group is a conglomerate based in Hong Kong with global interests in real estate development and investment, life sciences and financial investments. Learn more at www.nanfung.com/.

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Pivotal bioVenture Partners China
www.pivotalbiovp.cn/
Winnie Wu, +86-21-3106-3487
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May 24, 2018

Entasis Therapeutics Initiates Clinical Studies of the Oral Extended-Spectrum Beta-Lactamase Inhibitor ETX0282

May 14, 2018

WALTHAM, Mass. – May 14, 2018 – Entasis Therapeutics, a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibacterial products, today announced initiation of a Phase 1 clinical trial of its novel oral beta-lactamase inhibitor ETX0282. ETX0282CPDP, the combination of ETX0282 with cefpodoxime, is being developed as an oral therapy for infections caused by multidrug-resistant (MDR) Gram-negative pathogens, including MDR and carbapenem-resistant Enterobacteriaceae (CRE). The trial will evaluate the safety, tolerability and pharmacokinetics of ETX0282 and ETX0282CPDP in healthy volunteers.

“The initiation of clinical studies for ETX0282, what we believe is the first broad-spectrum oral beta-lactamase inhibitor to enter the clinic, marks an important milestone for Entasis and a meaningful step toward the development of an effective oral therapy for patients suffering from drug-resistant bacterial infections,” said Manos Perros, Ph.D., President and Chief Executive Officer of Entasis. “By providing the option of an effective course of oral antibiotic treatment, EXT0282CPDP has the potential to benefit patients as well as the healthcare systems by reducing the risk of nosocomial infections and avoiding the healthcare costs associated with hospitalizations.”

 

Robin Isaacs, M.D., Chief Medical Officer of Entasis, said “We are excited to initiate this Phase 1 trial, which we expect will begin to establish the safety, tolerability and pharmacokinetic profile of ETX0282CPDP in humans. We believe that ETX0282CPDP has the potential to provide an effective oral therapy option for patients with complicated urinary tract infections due to MDR Enterobacteriaceae.”

 

About the Phase 1 Clinical Trial

The Phase 1 clinical trial is a randomized, double-blind, placebo-controlled study of ETX0282 in healthy subjects. The trial is designed to evaluate the safety, tolerability and pharmacokinetics of ETX0282 alone and in combination with cefpodoxime. The trial is being conducted in Australia and is expected to be completed in the first half of 2019. More information about this clinical trial is available on  www.clinicaltrials.gov (ClinicalTrials.gov Identifier: NCT03491748).

 

About ETX0282CPDP

ETX0282 is an orally available, broad spectrum inhibitor of Class A and C beta-lactamases. Entasis is developing ETX0282 in combination with cefpodoxime, an orally available cephalosporin approved for treatment of a variety of bacterial infections. Cefpodoxime’s clinical utility is currently limited by beta-lactamase-mediated resistance. In preclinical studies, ETX0282 restored cefpodoxime’s antimicrobial activity against a variety of pathogens, including Enterobacteriaceae resistant to fluoroquinolones, cephalosporins and carbapenems. Entasis is initially developing ETX0282CPDP, the combination of ETX0282 and cefpodoxime, for the treatment of infections caused by Enterobacteriaceae, including multidrug-resistant and carbapenem-resistant Enterobacteriaceae (CRE). ETX0282CPDP is partially supported by an award from the Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator program (CARB-X).

About Entasis Therapeutics Inc.

Entasis is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel antibacterial products to treat serious infections caused by multidrug-resistant Gram-negative bacteria. Entasis’ targeted-design platform has produced a pipeline of product candidates, including ETX2514SUL (targeting A. baumannii infections), ETX0282CPDP (targeting Enterobacteriaceae infections), and zoliflodacin (targeting Neisseria gonorrhoeae). Entasis is also using its platform to develop a novel class of antibiotics, non-β-lactam inhibitors of the penicillin-binding proteins (NBPs) (targeting Gram-negative infections). For more information, visit www.entasistx.com.

About CARB-X

CARB-X is the world’s largest public-private partnership devoted to early stage antibacterial research and development. Funded by ASPR/BARDA and Wellcome Trust, with in-kind support from NIAID, CARB-X is investing up to $455 million from 2016-2021 to support innovative products from ‘hit-to-lead’ phase through to Phase 1 clinical trials. CARB-X focuses on high priority drug-resistant bacteria, especially Gram-negatives. CARB-X operates through Boston University. Other partners include RTI International, the Broad Institute of Harvard and MIT, MassBio and the California Life Sciences Institute (CLSI). For more information, visit www.carb-x.org.

This press release is supported by the Cooperative Agreement Number IDSEP160030 from ASPR/BARDA and by an award from Wellcome Trust, as administrated by CARB-X. The contents are solely the responsibility of the authors and do not necessarily represent the official views of CARB-X, the HHS Office of the Assistant Secretary for Preparedness and Response, the National Institutes of Health or Wellcome Trust.

Entasis Therapeutics Appoints David C. Hastings to Board of Directors

May 1, 2018

WALTHAM, Mass. – May 1, 2018 – Entasis Therapeutics Holdings Inc., a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibacterial products, today announced the appointment of David C. Hastings to the company’s Board of Directors. Mr. Hastings brings to Entasis more than 18 years of finance, accounting and operations experience in the bio-pharmaceutical industry, including serving as Chief Financial Officer of three publicly traded companies.

“We are excited to welcome David to the Board of Directors,” said Manos Perros, CEO of Entasis. “His deep and extensive financial and pharmaceutical company experience will be invaluable to Entasis as we continue to develop our product candidates toward regulatory approval and commercialization, and pursue our goal of becoming a leading anti-infective products company.”

Mr. Hastings previously served as the Chief Financial Officer and Executive Vice President of Incyte Corporation from 2003 until 2014. During this time, Mr. Hastings oversaw all financial aspects as Incyte transitioned from research and development to commercialization following the launch of Jakafi®(ruxolitinib). Mr. Hastings also previously served as Vice President, Chief Financial Officer and Treasurer of ArQule Inc. During his tenure at ArQule, he played an important role in ArQule’s transition into a drug discovery and development organization, and in two strategic acquisitions, including the purchase of Cyclis Pharmaceuticals Inc. Prior to that, Mr. Hastings was with Genzyme Corporation as its Vice President and Corporate Controller, and with Sepracor, Inc. where he was Director of Finance. Mr. Hastings is currently an independent director of both Scynexis, Inc. and Vascular Biogenics Ltd., operating as VBL Therapeutics. Most recently, Mr. Hastings served as the Chief Financial Officer and Senior Vice President of Unilife Corporation from 2015 to 2017 and as its Chief Accounting Officer and Treasurer from 2016 to 2017.

“Antimicrobial resistance is a growing threat around the world, and the unique pathogen-targeted approach Entasis is developing is an important advancement in the anti-infectives arena,” said Mr. Hastings. “I look forward to working with the other Board members at Entasis and lending my expertise to help move the company forward with their short- and long-term goals.”

About Entasis Therapeutics Inc.

Entasis is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel antibacterial products to treat serious infections caused by multidrug-resistant Gram-negative bacteria. Entasis’ targeted-design platform has produced a pipeline of product candidates, including ETX2514SUL (targeting A. baumannii infections), ETX0282CPDP (targeting Enterobacteriaceae infections), and zoliflodacin (targeting Neisseria gonorrhoeae). Entasis is also using its platform to develop a novel class of antibiotics, non-β-lactam inhibitors of the penicillin-binding proteins (NBPs) (targeting Gram-negative infections). For more information, visit www.entasistx.com.

Entasis Therapeutics and Zai Lab Announce Exclusive License Agreement in Asia Pacific and Global Strategic Development Collaboration for ETX2514

Apr 25, 2018

COLLABORATION WILL FACILITATE ENROLLMENT OF PIVOTAL GLOBAL PHASE 3 TRIAL OF ETX2514 IN COMBINATION WITH SULBACTAM FOR THE TREATMENT OF CARBAPENEM-RESISTANT ACINETOBACTER BAUMANNII INFECTIONS

WALTHAM, Mass. and SHANGHAI – April 25, 2018 – Entasis Therapeutics Holdings Inc., a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibacterial products, and Zai Lab Limited (NASDAQ: ZLAB), a Shanghai-based innovative biopharmaceutical company, today announced an exclusive license agreement for ETX2514 in the Asia-Pacific region and a global strategic development collaboration. Entasis’ ETX2514 is a novel broad-spectrum intravenous inhibitor of β-lactamases, which are a major cause of antibiotic resistance. Entasis is developing ETX2514SUL, a fixed-dose combination of ETX2514 and sulbactam, for the treatment of a variety of serious multidrug-resistant infections caused by Acinetobacter baumannii, representing a healthcare challenge of global importance with over 200,000 occurrences estimated in China each year. ETX2514SUL is currently in Phase 2 development with plans to move into global Phase 3 clinical trials in the first quarter of 2019. Zai Lab will manage the portion of the Phase 3 trial conducted in China.

“Entasis remains committed to building a pipeline of life-saving treatments for patients affected by drug-resistant bacterial infections around the world. We are thrilled to partner with Zai Lab on the further development and potential commercialization of ETX2514SUL in the Asia-Pacific region, most notably in Greater China, where the rate of A. baumannii infections rank among the highest in the world,” said Manos Perros, Chief Executive Officer of Entasis. “With their experienced leadership team, focus on innovation and established expertise and network within the infectious diseases arena, Zai Lab is the ideal partner to help bring ETX2514SUL to the numerous patients in the region who need a new effective treatment option. The collaboration will offset costs and enable enrollment of patients from China into our global Phase 3 clinical trial, further supporting our plans to rapidly progress ETX2514SUL to market.”

“Infectious diseases are a key focus area for Zai Lab due to the serious problem of multidrug-resistant infections both in China and globally. We are excited to collaborate with Entasis, a company that has extensive expertise and know-how in developing anti-infective products that address multidrug-resistant infections, and we look forward to working together to accelerate the global development of this potential life-saving therapy. We expect ETX2514SUL will be a positive addition to Zai Lab ‘s anti-infective portfolio, and we remain committed to developing a drug to combat multidrug-resistance, which currently poses a serious global threat to our society,” stated Samantha Du, Ph.D., Chairman and Chief Executive Officer of Zai Lab. “This collaboration reinforces the strength of the Zai Lab team both in China and globally, and we believe will help us further progress on our mission to establish Zai Lab as an innovative, fully integrated, global pharmaceutical company.”

Under the terms of the agreement, Entasis has granted Zai Lab an exclusive license to develop and commercialize ETX2514SUL in specified countries in the Asia-Pacific region, including Japan. Entasis and Zai Lab will cooperate in conducting a pivotal Phase 3 trial in China, with Zai Lab taking the lead by conducting the screening, enrollment and treatment of patients, and coordinating development, registration and commercialization of ETX2514SUL in the territory. In addition, Entasis and Zai Lab have an option to collaborate on the development and commercialization of ETX2514 in combination with other active ingredients. A joint steering committee will be formed between the companies to oversee development, regulatory and commercialization activities in the Asia-Pacific territory. In addition to financial support for the portion of the Phase 3 trial conducted in China, Entasis will receive a $5 million upfront payment and is eligible to receive up to an aggregate of $7.6 million in near-term development milestones and up to an aggregate of $91.0 million in additional development, regulatory and sales milestone payments related to ETX2514SUL and other combinations, plus royalties.

About Acinetobacter baumannii Infections
A. baumannii is a Gram-negative bacterium causing severe infections associated with high mortality and has emerged as a cause of numerous global outbreaks, displaying ever-increasing rates of antibiotic resistance, which greatly limits treatment options. Consequently, the World Health Organization (WHO) has placed carbapenem-resistant A. baumannii at the top of its list of “Critical” priority pathogens for new antibiotics. The U.S. Centers for Disease Control (CDC) also recognizes A. baumannii as a serious public health threat and estimates that 63% of A. baumannii are multidrug-resistant.

In China, A. baumannii accounts for approximately 11% of total Gram-negative infections. Based on a national surveillance of over 1,300 hospitals in China, there are over 200,000 A. baumannii infections per year, although the actual incidence is estimated to be much larger. The resistance of A. baumannii to the carbapenem class of antibiotics has increased significantly, estimated at 60% in 2016, with some provinces as high as 70-80%. In other Asia-Pacific countries, such as Japan and Korea, it has also become an increasingly significant challenge for physicians. Due to the high rates of multidrug-resistant infections, the Chinese government has identified the goal of developing one to two innovative anti-infective drugs by 2020.

About ETX2514
ETX2514 is a novel broad-spectrum intravenous inhibitor of class A, C and D beta-lactamases. ETX2514 restores the in vitro activity of multiple β-lactams against Gram-negative, multidrug-resistant pathogens. Entasis is initially developing ETX2514SUL, a fixed-dose combination of ETX2514 and sulbactam, for the treatment of a variety of serious multidrug-resistant infections caused by A. baumannii. Sulbactam is a generic β-lactam that has intrinsic activity against A. baumannii but suffers from widespread β-lactamase-mediated resistance. In preclinical studies, ETX2514 restored sulbactam antibacterial activity against A. baumannii. ETX2514 has completed single- and multi-ascending dose Phase 1 trials. The U.S. Food and Drug Administration has granted Qualified Infectious Disease Product (QIDP) designation and Fast Track designation to ETX2514SUL for the treatment of hospital-acquired and ventilator-acquired bacterial pneumonia and bloodstream infections due to A. baumannii.

About Entasis
Entasis is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel antibacterial products to treat serious infections caused by multidrug-resistant Gram-negative bacteria. Entasis’ targeted-design platform has produced a pipeline of product candidates, including ETX2514SUL (targeting A. baumannii infections), ETX0282CPDP (targeting Enterobacteriaceae infections), and zoliflodacin (targeting Neisseria gonorrhoeae). Entasis is also using its platform to develop a novel class of antibiotics, non-β-lactam inhibitors of the penicillin-binding proteins (NBPs) (targeting Gram-negative infections). For more information, visit www.entasistx.com.

About Zai Lab
Zai Lab (NASDAQ:ZLAB) is a Shanghai-based innovative biopharmaceutical company focused on bringing transformative medicines for cancer, autoimmune and infectious diseases to patients in China and around the world. The company’s experienced team has secured partnerships with leading global biopharma companies, generating a broad pipeline of innovative drug candidates targeting the fast-growing segments of China’s pharmaceutical market and global unmet medical needs. Zai Lab’s vision is to become a fully integrated biopharmaceutical company, discovering, developing, manufacturing and commercializing its partners’ and its own products in order to impact human health worldwide.

Entasis Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Entasis’ expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Forward-looking statements contained in this press release include statements about (i) the timing of the initiation, progress and scope of the Phase 3 clinical trial of ETX2514SUL; (ii) potential regulatory approval and commercialization of ETX2514SUL; (iii) the potential use of ETX2514SUL to treat a variety of serious multi-drug resistant infections caused by Acinetobacter baumannii; and (iv) Entasis’ potential receipt of milestone payments and royalties. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data observed during non-clinical or clinical studies, clinical site activation rates or clinical trial enrollment rates that are lower than expected and changes in expected or existing competition. Except as required by law, Entasis assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

Zai Lab Forward-Looking Statements
This press release includes certain disclosures which contain “forward-looking statements,” including, without limitation, statements regarding the timing of the initiation, progress and scope of the Phase 3 clinical trial of ETX2514SUL, the potential use of ETX2514SUL to treat a variety of serious multidrug-resistant infections caused by Acinetobacter baumannii, Entasis’ potential receipt of milestone payments and royalties from Zai Lab. You can identify forward-looking statements because they contain words such as “believes” and “expects.” Forward-looking statements are based on Zai Lab’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Zai Lab’s filings with the Securities and Exchange Commission. Zai Lab undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

http://www.entasistx.com

Company Contact:
Kyle Dow
Entasis Therapeutics
(781) 810-0114
kyle.dow@entasistx.com

Media Contact:
Kari Watson or Stefanie Tuck
MacDougall Biomedical Communications
(781) 235-3060
kwatson@macbiocom.com or stuck@macbiocom.com

Oculis Raises CHF20 million in a Series B Financing Round to Advance Breakthrough Treatments for Ophthalmic Diseases

Jan 4, 2018

LAUSANNE, Switzerland — January 4th, 2018 — Oculis, a clinical-stage biotechnology company focused on the development of breakthrough non-invasive topical treatment for back-of-the-eye diseases, announced it has successfully closed a Series B financing round of CHF 20 million (USD 20.3 million). The financing was led by a syndicate of leading international life science investors including Bay City Capital, Novartis Venture Fund and Pivotal bioVenture Partners. Existing investors, including Brunnur Ventures and Silfurberg, also participated in the financing.

The funds will be used to advance the clinical development of the Company’s lead program OC-118, a proprietary topical product currently in a Phase IIb clinical trial for the treatment of Diabetic Macular Edema (DME), the leading cause of blindness in young adults in developed countries. In prior pilot studies, OC-118 demonstrated a statistically significant and clinically meaningful improvement of visual acuity and reduction of central macular thickness of DME patients.

OC-118 has been developed using Oculis’ novel Solubilizing Nanoparticle (SNP) technology platform, which improves both the ability to formulate drugs as eye drops and their bioavailability in the eye tissues including anterior and posterior segments. Existing pre-clinical and clinical data suggest that the SNP technology can open the way for formulating drugs as effective and well-tolerated topical treatments of retinal conditions with unmet need, including DME. Significant improvement of tolerability and dosing frequency for anterior segment conditions may also be expected.

In addition to the Phase IIb DME program, Oculis is advancing OC-118 in other ophthalmic indications and is developing other drug candidates using SNP technology to the clinical stage. The Series B financing will allow further development of these candidates.

In conjunction with the financing, Oculis is re-locating its corporate headquarters to Lausanne, Switzerland, while its R&D remains in Reykjavik, Iceland. Dr. Riad Sherif, formerly Area President Europe, Middle East & Africa at Alcon and formerly a senior executive at Novartis, has been appointed as Chief Executive Officer of Oculis, with Páll Ragnar Jóhannesson, becoming Chief Financial Officer and Managing Director of Oculis in Iceland. Dr. Sabri Markabi, previously Senior VP, Head of R&D and Chief Medical Officer at Alcon, will join as Chief Scientific Officer, and the Company’s founders, Prof. Einar Stefánsson and Prof. Thorsteinn Loftsson becoming Chief Innovation Officer and Chief Research and Technology Officer, respectively. Florent Gros (Novartis Venture Fund) will be joining the Board as Chairman, in addition of Arni Blöndal (Brunnur Ventures) and Stefan J. Sveinsson (formerly Global EVP RD at Actavis), Lionel Carnot (Bay City Capital) and Rob Hopfner (Pivotal Bioventure Partners).

Commenting on Oculis’ future, Dr. Riad Sherif, CEO of Oculis, stated: “I am extremely pleased to be joining such a great team to develop what could be the next generation of ophthalmic treatments. Oculis founders have meticulously developed the novel SNP technology that improves both the ability to formulate drugs as eye drops and their bioavailability in eye tissues including the posterior segment. This technology opens a new era of breakthrough ophthalmic therapies that could provide important benefits to patients. Our goal with the lead program OC-118 is truly to transform the way DME is treated and managed today.”

Florent Gros, chairman of Oculis’ board of directors, and Managing Director at Novartis Venture Fund, said: “Considering both the lead clinical program and the breadth and depth of possible applications, the commercial potential of Oculis is clearly very exciting.”

Prof. Einar Stefánsson, MD PhD, Chief Innovation Officer and co-founder of Oculis commented: “We are transforming eye drop technology and improving drug delivery to all parts of the eye. Treating retinal diseases with eye drops instead of injecting the eye with a needle provides comfortable and accessible treatment options for potentially tens of millions of patients with retinal disease.”

Entasis Announces $31.9 Million Extension of Series B Financing to Advance Anti-infective Therapeutic Portfolio

Aug 1, 2017

Series B-1 Funding will Support the Company’s Programs to Treat Multidrug-Resistant Gram-negative Infections

WALTHAM, Mass. — August, 2017 — Entasis Therapeutics, a leader in the discovery and development of breakthrough anti-infective products, today announced the closing of an upsized $31.9 million Series B-1 extension financing to advance its pipeline of clinical and preclinical products targeting drug-resistant Gram-negative infections. The financing expansion adds Pivotal bioVenture Partners, Sofinnova Ventures and TPG Biotech to the original Series B funding round of $50 million, which closed in March 2016, led by Clarus and included Frazier Healthcare Partners, Novo A/S and Eventide Funds.

Entasis also announced that Tracy Saxton, Ph.D., Managing Partner at Pivotal, Heather Behanna, Ph.D., Principal at Sofinnova, and Heather Preston, M.D., Partner at TPG joined the Company’s Board of Directors concurrent with the financing.

“We welcome this strong support from a group of experienced and successful investors who understand the need and market opportunity for new medicines to combat multi drug-resistant bacterial infections,” said Manos Perros, Ph.D., President and Chief Executive Officer of Entasis. “This additional financing will enable us to continue advancing our portfolio of innovative anti-infective programs into mid and late-stage clinical development, with an immediate focus on drug-resistant, Gram-negative bacterial infections that currently have high mortality rates and significant unmet medical needs.”

Entasis’ programs are derived from a proprietary drug discovery and preclinical platform, targeting serious Gram-negative infections such as Acinetobacter baumannii and carbapenem-resistant Enterobacteriaceae. The approach uses bacterial genomics, molecular dynamics and structure-based design in a highly directed, focused way to bring forward innovative, meaningfully differentiated new antibiotics with the goal of improved efficacy and tolerability against these very challenging pathogens.

“The Entasis team is developing an impressive portfolio of anti-infectives to combat the problem of drug resistance, including the World Health Organizations (WHO) Priority 1 critical pathogen Acinetobacter baumannii” said Dr. Saxton. “We look forward to working with them to advance multiple differentiated programs for critical hospital infections.”

About Entasis Therapeutics Inc.

Entasis Therapeutics is developing a portfolio of innovative cures for serious drug-resistant bacterial infections, a global health crisis affecting the lives of millions of patients. Entasis’ anti-infective discovery platform has produced a pipeline of meaningfully differentiated programs which target serious bacterial infections, including ETX2514SUL (targeting Acinetobacter baumannii infections), ETX0282CPDP (targeting Enterobacteriaceae infections), and zoliflodacin (targeting Neisseria gonorrhoeae). www.entasistx.com.

About PivotalbioVenture Partners

Pivotal bioVenture Partners is a newly launched, San Francisco-based venture capital firm. Pivotal’s investment strategy is centered on identifying companies developing differentiated science from discovery to early clinical development with the potential to deliver transformative therapies. For more information, please visit www.pivotalbiovp.com.

About Sofinnova

Founded in 1974, Sofinnova specializes in clinical and late preclinical investments in biopharmaceutical products. Our goal is to actively partner with entrepreneurs across all stages of company development. We seek to build world-class companies that aspire to dramatically improve the current state of medical care and the lives of patients through bringing innovative products to market. For more information, please visit www.sofinnova.com.

About TPG

TPG is a leading global alternative asset firm founded in 1992 with more than $73 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com.

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Company Contact
Kyle Dow
Entasis Therapeutics
(781) 810-0114
kyle.dow@entasistx.com

Media Contact
Kari Watson or Stefanie Tuck
MacDougall Biomedical Communications
(781) 235-3060
kwatson@macbiocom.com
stuck@macbiocom.com

Iterum Secures $65 Million in Series B Financing

May 21, 2017

Funding to support the Phase 3 clinical development of oral penem antibiotic

DUBLIN, IRELAND, and CHICAGO – May 19, 2017 – Iterum Therapeutics Limited, an Irish clinical-stage pharmaceutical company focused on the development and commercialization of anti-infectives for patients with infectious diseases and other acute illnesses, today announced that it has closed an oversubscribed Series B investment round raising $65 million. The financing was led by new investor Arix Bioscience plc, and included Pivotal bioVenture Partners, Advent Life Sciences, Domain Associates and Bay City Capital. All of Iterum’s current investors (Frazier Healthcare Partners, Canaan Partners, Sofinnova Ventures and New Leaf Venture Partners) also participated in the round.

Iterum is developing sulopenem, a novel oral and intravenous antibiotic, for the treatment of Gram- negative multi-drug resistant infections. The proceeds of this financing will be used for production of clinical supplies and registration batches, expanding the chemistry, manufacturing and control and development organizations and execution of the uncomplicated urinary tract infections Phase 3 pivotal program. The estimated timeline for filing an New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) is year-end 2019, with Phase 3 pivotal trials expected to begin in the first half of 2018.

Sulopenem has demonstrated broad-spectrum in vitro activity against extended spectrum β-lactamase producing and quinolone-resistant Gram-negative pathogens that are increasingly prevalent in both the inpatient and outpatient settings. These resistant pathogens are common causative agents of the initial target indications for sulopenem, including uncomplicated urinary tract infections, complicated urinary tract infections and complicated intra-abdominal infections (uUTI, cUTI and cIAI).

“The closing of this round, which was highly competitive and substantially oversubscribed, is an important milestone for Iterum,” said Corey Fishman, CEO of Iterum. “This success reflects the significant achievements we have made to date in the development of sulopenem. We are excited to welcome such high quality Series B investors into the existing blue-chip syndicate. With more than 25 million infections annually in the U.S. in our initial indications, and effective treatment options becoming more and more limited due to increasing resistance, we believe that sulopenem has the potential to play an important role in treating these infections.”

As part of the financing, Mark Chin of Arix Bioscience, Tracy Saxton of Pivotal bioVenture Partners and Shahzad Malik of Advent Life Sciences will join Iterum’s Board of Directors.

“Arix is delighted to lead Iterum’s financing of its novel, oral penem that has the potential to significantly improve the treatment paradigm for patients with multidrug resistant Gram-negative infections,” said Chin, investment manager at Arix Bioscience. “Since Iterum was founded in late 2015, it has made tremendous progress in the development of sulopenem, and we are excited to provide capital to fund the Phase 3 development of this novel product.”

About Iterum Therapeutics Limited

Iterum Therapeutics Limited is an Irish clinical-stage pharmaceutical company dedicated to developing differentiated anti-infectives aimed at combatting the global crisis of multi-drug resistant pathogens to significantly improve the lives of people affected by serious and life-threatening diseases around the world. Iterum is advancing its first compound, sulopenem, a novel penem anti-infective compound with oral and IV formulations in an IV only class of antibiotics that has demonstrated potent in vitro activity against a wide variety of gram-negative, gram-positive and anaerobic bacteria resistant to other antibiotics. Iterum has received QIDP designations for its oral and IV formulations for the treatment of uUTI, cUTI and cIAI. Iterum is led by a highly experienced team and backed by a blue-chip venture capital syndicate. For more information, please visit www.iterumtx.com.

AboutArix Bioscience plc

Arix Bioscience plc is a global healthcare and life science company supporting medical innovation. Headquartered in London and with an office in New York, Arix Bioscience sources, finances and builds world class healthcare and life science businesses addressing medical innovation at all stages of development. Operations are supported by privileged access to breakthrough academic science and strategic relationships with leading research accelerators and global pharmaceutical companies.

Arix Bioscience plc is listed on the Main Market of the London Stock Exchange. For further information, please visit www.arixbioscience.com.

About Pivotal bioVenture Partners

Pivotal bioVenture Partners is a newly launched, San Francisco-based venture capital firm. Pivotal’s investment strategy is centered on identifying companies developing differentiated science from discovery to early clinical development with the potential to deliver transformative therapies. For more information, please visit www.pivotalbiovp.com.

About Advent Life Sciences

Advent Life Sciences founds and invests in early- and mid-stage life sciences companies that have a first- or best-in-class approach to unmet medical needs. The investing team consists of experienced professionals, each with extensive scientific, medical and operational experience, a long-standing record of entrepreneurial and investment success in the U.S. and Europe, and is particularly focused on supporting entrepreneurs and founders to take innovative new medical entities from concept to approval. The firm invests in a range of sectors within life sciences, principally drug discovery, enabling technologies and med tech, always with an emphasis on innovative, paradigm-changing approaches. Advent Life Sciences has a presence in the U.K., U.S. and France. For more information, please visit www.AdventLS.com.

About Domain Associates

Founded in 1985, Domain was one of the first venture capital firms to exclusively invest in the life sciences sector. Today, with more than $2.7 billion in capital raised, Domain has been a trusted partner in life sciences investing helping more than 260 companies develop novel medical products to advance human health. www.domainvc.com.

About Bay City Capital

Founded in 1997, Bay City Capital LLC is a life sciences venture capital firm with a global diversified strategy ranging from seed stage to public companies, and including innovation, restructuring opportunities, and growth investing. For more information, please visit www.baycitycapital.com.

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Media Contact:
Theresa Maloney
Cogenta Communications
415-225-5261
theresa@cogentacom.com

SutroVax Announces Closing of $64M via Series B Financing

Mar 21, 2017
  • Announces achievement of pre-clinical proof-of-concept with lead program: Potential best-in-class pneumococcal conjugate vaccine
  • Advancing lead into IND-enabling development to obtain clinical proof-of-concept  

Foster City, CA, March 21, 2017 – SutroVax, a biopharmaceutical company dedicated to the delivery of best-in-class conjugate vaccines and novel complex antigen-based vaccines to prevent serious infectious diseases, today announced the closing of a $60 million Series B financing. The financing was led by new investors Frazier Healthcare Partners and Pivotal bioVenture Partners, and included participation from all existing investors: Abingworth, Longitude Capital, Roche Venture Fund and CTI Life Sciences Fund. In addition to Series B funds raised, the Company’s existing investors are investing an additional $4 million in SutroVax.

SutroVax will use the proceeds from this financing to advance its lead pneumococcal conjugate vaccine (PCV), which prevents invasive pneumococcal disease caused by Streptococcus pneumoniae, and accelerate the Company’s antigen discovery and early-stage development efforts in other disease areas. SutroVax’s broad-spectrum PCV is designed to provide expanded protection against circulating strains of pneumococcus and has the potential to replace the current vaccines used in infants and adults. SutroVax has generated pre-clinical proof-of-concept in head-to-head studies with its broad-spectrum PCV compared to current vaccines using well accepted immunological endpoints.

“The closing of this round, which was highly competitive and oversubscribed, is an important milestone for SutroVax and reflects the significant achievements we have made in developing a pneumococcal conjugate vaccine product candidate with the potential to disrupt a market with annual sales of over $7 billion,” said Grant Pickering, CEO of SutroVax. “This financing enables us to advance our lead PCV program into the clinic and expand our R&D, clinical development and manufacturing organizations.”

SutroVax conjugate vaccines are developed utilizing the Company’s exclusive rights to Sutro Biopharma’s Xpress CF Platform, a cell-free protein synthesis technology. The platform represents a major advancement over conventional conjugate vaccine production methods, by enabling precise and consistent conjugation of antigens to site-specific locations on a protein carrier that do not impede T-cell help resulting in higher-potency conjugates. SutroVax is utilizing these more potent conjugates to develop a broader-spectrum PCV product.

“Frazier Healthcare Partners has followed SutroVax’s progress since its founding and is delighted to make SutroVax its first vaccine investment,” stated Patrick Heron, Managing General Partner.

Tachi Yamada, M.D., Frazier Venture Partner, former President of the Bill & Melinda Gates Foundation Global Health Program and former head of GlaxoSmithKline and Takeda Pharmaceuticals R&D added, “SutroVax’s lead product candidate and technology platform has the potential to deliver the next generation of vaccines for major infectious diseases including pneumococcal disease.”

“We are pleased to make SutroVax the pioneer investment from Pivotal bioVenture Partners, our recently closed inaugural fund. I am delighted to join with the preeminent group of life sciences investors backing the company,” said Tracy Saxton, Ph.D., Managing Partner. “We are excited by the Company’s differentiated approach and ground-breaking progress in developing a potential best-in-class pneumococcal conjugate vaccine to provide coverage of circulating pathogenic strains outside of the current standard of care.”

As part of the financing, Patrick Heron and Tracy Saxton will join the SutroVax Board of Directors.

 

About Frazier Healthcare Partners

Founded in 1991, Frazier Healthcare Partners is a leading provider of growth and venture capital to healthcare companies. With nearly $3.0 billion total capital raised, Frazier has invested in over 170 companies, with investment types ranging from company creation and venture capital to buyouts of profitable lower-middle market companies. The firm’s Growth Buyout team invests in healthcare and pharmaceutical services, medical products and related sectors. The Life Sciences team invests in therapeutics and related areas that are addressing unmet medical needs through innovation. Frazier has offices in Seattle, WA and Menlo Park, CA, and invests broadly across the US, Canada, and Europe.

 

About Pivotal bioVenture Partners

Pivotal bioVenture Partners is a newly launched, San Francisco-based venture capital firm investing in early stage biotechnology companies. Pivotal closed a $300 million fund, and its investment strategy is centered on identifying companies developing differentiated science from discovery to early clinical development with the potential to deliver transformative therapies. The Pivotal team includes experienced life science investors and entrepreneurs with a track record of venture investing and scientific acumen.

 

About Pneumococcal Disease and the Pneumococcal Vaccine Market

Pneumococcal disease is an infection caused by Streptococcus pneumoniae. This infection can cause a wide range of serious illnesses including pneumonia, meningitis and bloodstream infection as well as ear and sinus infections. According to the Centers for Disease Control and Prevention (CDC), an estimated 900,000 Americans suffer from pneumococcal pneumonia each year and up to 400,000 hospitalizations occur in the US.  In addition, about 18,000 older adults die each year from pneumococcal disease in the U.S. The market-leading vaccine is a 13-valent PCV, Prevnar 13®, that has worldwide sales of approximately $6 billion annually yet does not protect against a significant number of circulating strains of pneumococcus causing invasive disease in adults and children. In the U.S., the CDC’s Advisory Committee on Immunization Practices (ACIP) recommends all children aged two months to five years and immunocompromised children aged six years and older be vaccinated with Prevnar 13®.  In addition, the ACIP recommends all adults aged 65 years and older and immunocompromised adults aged 19 years and older be vaccinated with Prevnar 13®and Pneumovax®, a 23-valent non-conjugate vaccine with over $600 million in annual sales.

About SutroVax

SutroVax is an independent vaccine platform and development company whose mission is to deliver best-in-class conjugate vaccines and novel complex antigen-based vaccines to prevent serious infectious diseases. The company is leveraging its exclusive license to Sutro Biopharma’s Xpress CF platform to perform cell-free protein synthesis and site-specific conjugation for the field of vaccines. For more information, visit www.sutrovax.com.

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Contact:
Julie Rathbun
Rathbun Communications
206-769-9219
julie@rathbuncomm.com