Business Wire

Inversago Pharma Closes US$35M Series B Financing Round and Expands Board of Directors

Share

Inversago Pharma Inc. (“Inversago” or “the Company”), the peripheral CB1 blockade company, today announced it has secured a US$35 million (€32 million) Series B financing round led by Forbion, with co-investment from the Fonds de solidarité FTQ, and strong participation from existing investors Genesys, JDRF T1D Fund, Amorchem, Anges Québec Capital, adMare BioInnovations and angels.

Proceeds will be used to develop Inversago’s best-in-class peripherally-acting CB1 inverse agonist candidate INV-101 to clinical proof-of-concept, and advance the research on other selected compounds.

Clinical and scientific data suggest that the peripheral CB1 pathway is activated in a majority of metabolic and fibrotic diseases, including Prader-Willi syndrome (PWS), NASH, type-1 diabetes and diabetic nephropathy; conditions with currently inadequate treatment options. CB1 inhibition has previously shown to be an effective clinical treatment in several diseases and conditions, albeit with a CNS liability related to the central CB1 blockade. Inversago compounds are peripherally-acting only, thus adopting a safe and potent approach.

“Today’s financing is a recognition of the progress achieved over the past two years by our team,” said François Ravenelle, PhD, CEO and founder of Inversago Pharma. “We are privileged to have secured the financing from a transatlantic syndicate of leading and committed investors like Forbion and the Fonds de solidarité FTQ. It allows the Company to make important strides towards its objective of leveraging the full medical potential of a peripheral CB1 blockade,” added Dr. Ravenelle.

In conjunction with this financing, Inversago appointed Carlo Incerti, MD, an Operating Partner at Forbion, as Chairman of the board of directors, Marco Boorsma, PhD, a General Partner at Forbion, and Patricia Allen, a biotech leader, as directors of the Company. Ms. Allen will also serve as Chair of the Audit Committee.

“I am delighted to join Inversago when the Company is transitioning from the pre-clinical stage to the first human trials,” said Carlo Incerti, MD, Chairman of the board of directors. “The science behind the CB1 pathway is extremely sound and documented and Inversago’s compounds could be very impactful in therapeutic areas that are largely unmet, like metabolic dysfunctions and fibrosis. Importantly, the peripherally-acting nature of these molecules could give them a safe and effective therapeutic window, without the known liabilities of centrally-acting blockers,” concluded Dr. Incerti.

Dr. Incerti brings to Inversago over three decades of development and commercialization experience in the biopharmaceutical industry. After a successful scientific career and prior to joining Forbion, Dr. Incerti was Senior Vice President, Chief Medical Officer and Head of Global Medical Affairs at Sanofi Genzyme.

Dr. Boorsma adds over 20 years of scientific, operational, business development and venture investment expertise to the Company. He manages Forbion’s Canadian investments and serves on the boards of several other bio-pharmaceutical companies.

Ms. Allen is a recognized biotech finance and operations leader who raised over US$2B in financings and business development deals during her career. She served most recently as Chief Financial Officer at Zafgen, Inc., now Larimar Therapeutics. She currently holds positions on the boards of Yumanity Therapeutics and Deciphera Pharmaceuticals, where she is also the audit committee chairperson.

“I am thrilled to join the board of Inversago, one of the few companies that remains focused on developing a treatment for people with PWS, for which I remain truly passionate,” said Ms. Allen. “I look forward to working with the other directors and the entire team at Inversago to advance their new generation of CB1 blockers in PWS and other important diseases, where the unmet medical needs remain very high. I also look forward to lending my biotechnology and public company experience and expertise at such an exciting time as the Company advances towards the clinic,” added Ms. Allen.

About Inversago Pharma

Inversago Pharma is a preclinical-stage, biotech company specialized in the development of new therapies focusing on CB1 blockade, based on first-in-class, peripherally-acting, CB1 inverse agonists. The Company aims to provide new treatment options that improve the lives of patients affected by metabolic conditions such as Prader-Willi Syndrome (PWS), non-alcoholic steatohepatitis (NASH), type 1 diabetes (T1D) and diabetic nephropathy. For more information, visit inversago.com

About Forbion

Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands, Germany and Singapore. Forbion invests in life sciences companies that are active in the (bio-) pharmaceutical space. Forbion’s investment team has built an impressive performance track record since the late nineties with successful investments in over 66 companies. Forbion manages well over EUR 1.25 billion across ten funds. Forbion is a signatory to the United Nations Principles for Responsible Investment. Besides financial objectives, Forbion selects investments that will positively affect the health and well-being of patients. Its investors include the EIF, through its European Recovery Programme (ERP), LfA, Dutch Venture Initiative (DVI), AMUF and EFSI facilities and KfW Capital through the Programme, “ERP – Venture Capital Fondsinvestments”. Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany. For more information, please visit: www.forbion.com.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ (fondsftq.com) is a capital development fund that channels the savings of Quebecers into investments. With net assets of $13.8 billion as at May 31, 2020, the Fonds has helped create and protect 221,267 jobs. The Fonds has 3,329 partner companies and 707,935 shareholders-savers.

Picture of our CEO and company logotype available for download at: inversago.com/en/media/

Contact information

François Ravenelle, PhD
CEO & Founder
Inversago Pharma Inc.
T: + 1 514 922-2383
C: info@inversago.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Vivet Therapeutics and Pfizer Inc. Enter into Manufacturing Agreement for Vivet’s Investigational Gene Therapy for Wilson Disease23.9.2020 08:00:00 CESTPress release

Vivet Therapeutics (“Vivet”), a privately held gene therapy biotech company dedicated to developing treatments for inherited liver disorders with high unmet medical need, and Pfizer Inc. (NYSE: PFE) announced today that they have entered into a manufacturing agreement, under which Pfizer will provide clinical supply for a Phase 1/2 clinical trial evaluating Vivet’s proprietary, investigational gene therapy, VTX-801, for the potential treatment of Wilson disease, a rare and potentially life-threatening liver disorder. The trial is expected to commence in early 2021. Terms of the agreement were not disclosed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200922005790/en/ In March 2019, the companies announced that Pfizer had acquired a minority equity interest in Vivet and secured an exclusive option to acquire all outstanding shares. The companies also announced that they would collaborate on the development of VTX-801, for

The Kahala Hotel & Resort Yokohama to Open23.9.2020 07:20:00 CESTPress release

Resorttrust, Inc. (TOKYO:4681) has announced that The Kahala Hotel & Resort Yokohama will open for business on September 23. One of the most famous hotels in Honolulu, The Kahala Hotel & Resort, has continued to be a favorite destination of guests from around the world for more than half a century. The Kahala Hotel & Resort Yokohama represents a first step toward growing the Kahala brand worldwide. Yokohama, at just 30 minutes by car from Haneda Airport, is very conveniently located, and is a community rich in history and with a unique culture. It is also considered to be an up and coming global city. But there are also perfectly appropriate reasons for Yokohama to be the first place in Japan to open a Hawaiian hotel brand. In 1868, Japan’s first emigrants set off from the Osanbashi area in Yokohama to what was then the new paradise known as Hawaii. Some decades later, it was also Yokohama where the Meiji government in Japan welcomed its first state guest, King David Kalakaua from the

Bentley Systems Announces Pricing of Initial Public Offering23.9.2020 02:45:00 CESTPress release

Bentley Systems, Incorporated (“Bentley”) today announced the pricing of the initial public offering of 10,750,000 shares of its Class B common stock at a price to the public of $22.00 per share. The shares of Class B common stock to be sold in the offering are being sold by existing stockholders of Bentley. The selling stockholders granted the underwriters in the offering a 30-day option to purchase up to an additional 1,610,991 shares of Class B common stock from the selling stockholders. The shares are expected to begin trading on the Nasdaq Global Select Market on September 23, 2020 under the symbol “BSY”. The offering is expected to close on September 25, 2020, subject to customary closing conditions. Goldman Sachs & Co. LLC and BofA Securities are acting as lead book-running managers and RBC Capital Markets is acting as a book-running manager for the offering. Baird, KeyBanc Capital Markets and Mizuho Securities are acting as co-managers for the offering. A registration statement

SES Becomes Microsoft Azure Orbital Founding Connectivity Partner22.9.2020 21:00:00 CESTPress release

SES today announced it has joined as the medium Earth orbit (MEO) connectivity partner for Microsoft Azure Orbital, Microsoft’s new managed service enabling network operators to communicate and control their satellite capacity, process data, and scale their operations directly within Azure. The integration is part of a multi-year agreement between the two companies that accelerates and expands SES’s use of Azure to significantly advance the digital transformation of the company’s services and operations as part of its cloud-first strategy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200922005927/en/ SES Becomes Microsoft Azure Orbital Founding Connectivity Partner (Photo: Business Wire) As pioneers in Microsoft’s new cloud ecosystem in space, the two companies will make joint investments in Azure Orbital ground stations that SES will deploy and manage for the MEO and Earth Observation segments. The first MEO and Earth Obs

SES Advances Digital Transformation with Cloud-First Strategy, Expanded Agreement22.9.2020 21:00:00 CESTPress release

SES today announced plans to significantly advance its digital transformation across its enterprise, operations and development of new services for the cloud-scale era. As a cornerstone of the strategy, SES signed a multi-year agreement with Microsoft to be an Azure Orbital partner as well as to accelerate and expand the use of Microsoft Azure across its operations and jointly develop cloud-based video and data connectivity managed services. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200922005930/en/ SES Advances Digital Transformation with Cloud-First Strategy, Expanded Agreement (Photo: Business Wire) As an Azure Orbital partner, SES will be co-locating and managing O3b mPOWER gateways with Microsoft Azure locations so its customers are always only “one-hop” away from their Azure cloud services anywhere in the world. In addition, SES customers will enjoy improved network performance, speed-to-market, flexibility and sc

Workiva Wraps Up Amplify 2020: Global Conference Transformed into a Virtual Experience for Over 6,000 Attendees Across 60 Countries22.9.2020 18:13:00 CESTPress release

Workiva Inc. (NYSE:WK), the company that simplifies complex work, wrapped up its largest annual conference, Workiva Amplify, following three days of incredible virtual experiences. More than 6,000 attendees from over 60 countries participated in 42 customer, partner and Workiva led sessions focused on solving the universal challenges of data, process and reporting complexity. “This year’s record attendance at Amplify underscores the importance that organizations have placed on utilizing cloud platforms to enable greater transparency, instill trust and streamline processes,” said Workiva CEO Marty Vanderploeg. “We are proud that Amplify continues to be a place where our customers can access innovative technology and insights that help them confidently move their organizations forward.” Workiva Amplify 2020 Highlights include: Trust in an Age of Transformation The Amplify general session featured Workiva leadership and customers who highlighted the need for stability and experience when