Sofinnova Partners Invests in Twentyeight-Seven Therapeutics
Sofinnova Partners, a leading European venture capital firm specialized in the life sciences, today announced that the firm led Twentyeight-Seven Therapeutics, Inc’s [28-7] Series A extension with a $15 million investment. In addition to Sofinnova Partners, Osage University Partners (OUP) participated in the Series A extension bringing the total Series A financing to $82.75 million. Sofinnova Partners and OUP join the initial 28-7 investors that include MPM Capital, Novartis Venture Fund, Johnson & Johnson Innovation – JJDC, Inc., Vertex Ventures HC, Longwood Fund and Astellas Venture Management.
“Sofinnova Partners views 28-7 as the clear leader in capitalizing on the emerging science around RNA biology and how its dysregulation contributes to many serious diseases such as cancer,” said Henrijette Richter, Ph.D., Managing Partner at Sofinnova Partners. “We were captivated by the Company with its strong team of serial entrepreneurs possessing an incredible track record of successes, an exceptional group of academic founders, and the impressive scientific data and drug discovery progress around their lead RNA-focused program. They are developing game-changing therapeutics to treat cancers with high unmet need. We are therefore thrilled to be joining 28-7 early in the Company’s progress and to be investing in their exciting pipeline.” Dr. Richter will join the Company’s Board of Directors.
Since the close of the initial $65M Series A announced in September 2018, 28-7 has moved into its new facilities in Watertown, MA. Kazumi Shiosaki, Ph.D., CEO of 28-7, noted that the additional investment by Sofinnova Partners allows the Company to accelerate its current programs, build out its technology platform and expand into additional opportunities. “Sofinnova Partners is known for being a company-builder, with a strong focus on teams and science. With Sofinnova’s participation, we are able to work on proteins that regulate additional classes of RNA, including mRNA, as well as to leverage the programs into indications outside of oncology,” said Dr. Shiosaki.
28-7’s technology does not directly target small-molecules to the RNA itself but rather targets RNA-modulating proteins (RMPs). The lead program focuses on regulating levels of let-7, an important micro RNA (miRNA) that suppresses the translation of major oncogenes, whose levels can be disrupted by a protein called LIN28. In certain cancers, LIN28 is re-expressed and its binding of the let-7 precursor prevents the production of mature let-7 needed to maintain oncogene suppression. The Company's lead program is developing small molecules that prevent the binding of let-7 precursor to LIN28 and restore the beneficial levels of mature let-7.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, the firm brings together a team of professionals from all over Europe, the U.S. and China. The firm focuses on paradigm shifting technologies alongside visionary entrepreneurs. Sofinnova Partners seeks to invest as a lead or cornerstone investor in seed, start-ups, corporate spinoffs and late stage companies. It has backed nearly 500 companies over more than 45 years, creating market leaders around the globe. Today, Sofinnova Partners has over €1.9 billion under management. For more information: http://sofinnovapartners.com/.
About Twentyeight-Seven Therapeutics
Twentyeight-Seven Therapeutics is a biotechnology company focused on the modulation of RNA to treat cancer and other human diseases. Targeting RNA modulating proteins (RMPs), the company can use small molecules to control the expression levels of oncogenes and other proteins of significance. The company’s core technology comes from its four founding scientists, all leading researchers in RNA biology and cancer. www.twentyeight-seven.com
About Business Wire
(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
Assimoco Group Selects Moody’s Analytics SolvencyWatch ™ Solution29.5.2020 11:00:00 CEST | Press release
Moody’s Analytics, a global provider of financial intelligence, today announced that its software has been selected by Assimoco Group, an Italian insurance group and the insurance provider for the Italian Cooperative Movement since 1978. Assimoco Group will use the Moody’s Analytics SolvencyWatch solution to monitor key solvency metrics. Powered by Moody’s Analytics award-winning modeling capabilities, the SolvencyWatch solution quickly calculates an insurer’s assets and liabilities to reflect the latest market conditions, enabling chief risk officers (CROs) to monitor their solvency position in real time. The tool’s intuitive dashboard allows CROs and risk teams to visualize the impact on crucial solvency metrics under changes to market and non-market risks, and communicate to stakeholders what is driving changes in those metrics. “The Moody’s Analytics SolvencyWatch solution will allow us to monitor our solvency position frequently, accurately, and cost effectively,” said Ruggero Fre
Wipro Appoints Thierry Delaporte as CEO & Managing Director29.5.2020 07:21:00 CEST | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced the appointment of Thierry Delaporte as the Chief Executive Officer and Managing Director of the company, effective July 6, 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200528005916/en/ Thierry Delaporte (Photo: Business Wire) Until recently, Thierry Delaporte was the Chief Operating Officer of Capgemini Group and a member of its Group Executive Board. During his twenty-five year career with Capgemini, he held several leadership roles including that of Chief Executive Officer of the Global Financial Services Strategic Business Unit, and head of all global service lines. He also oversaw Capgemini’s India operations, and led the group’s transformation agenda, conceptualizing and driving several strategic programs across various business units. “I am delighted to
Ipsen Appoints David Loew as Chief Executive Officer29.5.2020 07:05:00 CEST | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200528005876/en/ David Loew, CEO at Ipsen as of July 1st 2020 (Photo: Business Wire) Ipsen (Euronext: IPN; ADR: IPSEY) announced today that its Board of Directors has appointed David Loew as its new Chief Executive Officer (CEO) and as Board member. The CEO appointment will take effect on July 1st, 2020. The Board of Directors expresses its gratitude to Aymeric Le Chatelier, who steered the group very well in an exceptionally challenging environment and who will remain in the role of acting CEO until July 1st, 2020 and will continue in his role of Chief Financial Officer. David Loew will be based at Ipsen’s headquarters in Boulogne-Billancourt, France. His mission will be to ensure Ipsen’s continued growth and to advance its pipeline via a long-term value-adding external innovation strategy, while fostering a culture of entrepreneurship, agility and patient-cent
New data show first-line triplet regimen of pembrolizumab, Herzuma ® (biosimilar trastuzumab) and chemotherapy are effective in treatment of HER2-positive advanced gastric cancer29.5.2020 01:01:00 CEST | Press release
Data presented today as part of the ASCO20 Virtual Scientific Program show that a first-line triplet regimen comprising of pembrolizumab, Herzuma®(biosimilar trastuzumab) and chemotherapy is effective in patients with HER2-positive advanced gastric cancer (AGC). The PANTHERA trial (a phase Ib/II study of first line pembrolizumab in combination with trastuzumab, capecitabine, and cisplatin in HER2-positive gastric cancer), sponsored by Celltrion Inc. and MSD, is investigating the potential of a first-line immunotherapy/chemotherapy combination with biosimilar trastuzumab. This is in light of a growing body of evidence that the immune system contributes to the therapeutic effects of monoclonal antibodies such as biosimilar trastuzumab in treating solid tumours.1 A total of 43 patients were treated with a median follow up of 18 months. Patients were treated with pembrolizumab 200mg via IV infusion D1,biosimilar trastuzumab 6mg/kg (after 8mg/kg load) D1, capecitabine 1000mg/m2 bid D1-D14 a
European Commission Releases Takeda From Commitment to Divest Shire’s Pipeline Compound SHP64729.5.2020 01:00:00 CEST | Press release
Takeda Pharmaceutical Company Limited (TOKYO:4502) (NYSE:TAK) (“Takeda”) today announces that on May 28, the European Commission (the “EC”) has released Takeda from the obligation to divest the pipeline compound SHP647 and certain associated rights (“SHP647”), a commitment that was provided by Takeda to secure regulatory clearance of its acquisition of Shire plc (“Shire”). Takeda will discontinue the current SHP647 clinical trial program, and it will be providing all eligible trial participants with the opportunity to have continued access to SHP647 in a post-trial access (“PTA”) study. In addition, subject to obtaining trial participant consents and the satisfaction of regulatory and ethical considerations, Takeda will make SHP647 clinical trial data and biosamples available to the scientific community through the Crohn’s & Colitis Foundation (“Foundation”). Takeda announced on November 20, 2018, that the EC approved its proposed acquisition of Shire (the “Acquisition”). The EC’s appr
Jefferies' Clients, Employees and Shareholders Contribute $9,250,000 to Over 85 Charities for Coronavirus Relief in Memory of Peg Broadbent28.5.2020 18:02:00 CEST | Press release
Jefferies announced today a total donation to over 85 different charities of $9.25 million as a result of a firmwide global effort to raise money to honor the memory of their late CFO Peg Broadbent, who was a victim of this terrible disease. Through the firm’s Global Coronavirus Relief Charity Day held May 27th, Jefferies’ clients helped to generate $7.65 million in donated net trading commissions. In addition, Jefferies as a firm will donate $1 million directly, and voluntary donations from Jefferies’ 3,822 employees totaled $600,000. “We could not be prouder of our entire Jefferies family for raising $9.25 million and are greatly appreciative of the incredible partnership our clients have shown us in supporting our fight against Covid-19. The full $9.25 million will be wired today and go to direct relief efforts at over 85 worthy global charities who are each in the front lines helping those most impacted by the Coronavirus global pandemic. We went broadly to a large number of charit