What's new?

Paris, France, July 10th. 2018. Sofinnova Partners, a leading venture capital firm specialized in Life Sciences, today announced that Otsuka Holdings is acquiring its portfolio company ReCor Medical, a medical device company specialized in the treatment of hypertension. The terms of the acquisition are being withheld due to non-disclosure obligations.

ReCor Medical was created in 2009 by Sofinnova Partners, Mano Iyer – who was then entrepreneur-in-residence at Sofinnova Partners and now Chief Operating Officer of ReCor – and Professor Jacques Seguin, MD, who became a large private investor in ReCor. Prof. Seguin was previously founder and CEO of CoreValve, a past Sofinnova portfolio company and a leader in the transcatheter valve replacement space, which was sold to Medtronic. Sofinnova Partners was the sole venture capital investor in ReCor Medical and remained its largest shareholder until the sale to Otsuka.

ReCor Medical is an innovative medical device company that developed the Paradise System, a proprietary ultrasound ablation system for renal denervation (RDN). RDN is a new potential therapeutic approach for the treatment of hypertension, one of the most prevalent medical conditions. ReCor recently announced positive results of its landmark RADIANCE-HTN SOLO hypertension study at EuroPCR 2018.

Antoine Papiernik, Managing Partner at Sofinnova Partners and ReCor Board Member, said: “ReCor perfectly illustrates our investment strategy: we worked hand-in-hand with Mano Iyer to create the business vision and plan for ReCor. We then founded and funded the company, and opened our network of experts, key opinion leaders and board members to help grow it. We brought trusted entrepreneurs Jay Watkins as Chairman and Andy Weiss as CEO to help guide and operate the company through to a corporate transaction to our partner Otsuka.”

Jay Watkins, Chairman of ReCor Medical said: “Sofinnova Partners remains one of few VCs willing to fund early-stage med-tech ventures targeting large and important new markets. The firm played a critical role throughout ReCor’s life, and has proven to be a reliable, value-added partner for the company. The field of renal denervation has been a complex one over the last few years with periods of euphoria and periods of doubt. Sofinnova Partners’ support remained constant throughout, helping to build a strong partnership with Otsuka and then navigate through the challenges to a very successful trade sale.”

Mano Iyer, Founder and COO of ReCor Medical added: “ReCor is a success story because Sofinnova Partners, consistent with its philosophy, saw the value of an opportunity which did not yet exist. It had the vision to create and fund the company, not only in the very beginning, but also during the critical early years. Despite the dramatic swings in the field, Sofinnova Partners’ confidence in me and in the management team was essential to keep us motivated when others lost hope. This great exit is therefore particularly sweet.”

Andrew M. Weiss, CEO of ReCor Medical adds: “I came to ReCor thanks to Antoine Papiernik’s introduction to the company. With his help, our team developed the partnership with Otsuka and was able to remain focused on value creation. The recent announcement of our positive RADIANCE-HTN SOLO study results and now the merger with Otsuka demonstrate that our teamwork with Sofinnova Partners was successful. We now have an opportunity to transform the treatment of hypertension and benefit millions of potential patients while providing a solid return for our investors. I look forward to continuing to work to make this technology a possible standard of care in hypertension treatment”.

For more information, please contact:
International: Anne Rein
Tel: +33 6 03 35 92 05
e-mail: anne.rein@strategiesimage.com
United States: Kate Barrette
Tel: +1 212 223 0561
e-mail: kbarrette@rooneyco.com

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 US 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 spin-offs 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: www.sofinnova.fr

About ReCor Medical, Inc.
ReCor Medical is a medical device company that designs and manufactures the Paradise System, a proprietary ultrasound ablation system for renal denervation (RDN). RDN is a new potential therapeutic approach for the treatment of hypertension, one of the most prevalent medical conditions. The Paradise System is approved for sale in the EU and bears a CE mark, but is not approved for sale in the United States. The System’s intravascular catheters denervate renal nerves by combining the protection of water-based cooling of the renal artery with high intensity ultrasound energy for circumferential renal nerve ablation. The Paradise System has been studied in clinical trials of approximately 300 patients to date. Following the positive outcomes of the RADIANCE-HTN SOLO trial, ReCor will continue its evaluations of Paradise in RADIANCE-HTN TRIO (a feasibility study of patients with resistant hypertension) and REQUIRE (a pivotal study of patients with resistant hypertension in Japan and Korea), and launch the RADIANCE II pivotal study (a study of patients with moderate hypertension) in the United States and Europe.

About Otsuka Holdings Co., Ltd. and Otsuka Medical Devices Co., Ltd.
Otsuka Holdings Co., Ltd. is the holding company of the Otsuka group, a global healthcare group headquartered in Tokyo, Japan. With operations in pharmaceuticals, nutraceuticals, medical devices and other health-related businesses, the group generated worldwide sales of JPY1,240 billion in the fiscal year ended December 2017.

Established in 2011, Otsuka Medical Devices Co., Ltd. is a fully-owned subsidiary of Otsuka Holdings and one of its core operating subsidiaries. Otsuka Medical Devices focuses on the development and commercialization of endovascular devices that provide new therapeutic options in areas where patient needs cannot be met through pharmaceutical or other conventional treatment.
Otsuka Medical Devices conducts the REQUIRE trial for renal denervation in hypertensive patients (n=140), who are uncontrolled on 3 or more medications including a diuretic, in Japan and Korea through its subsidiary JIMRO Co., Ltd.


Paris, France….. ExonHit Therapeutics annonce qu’Allergan Inc., une société pharmaceutique internationale, a initié un premier criblage à haut flux sur une cible thérapeutique identifiée pendant les dix premiers mois de la collaboration entre les deux sociétés. ExonHit Therapeutics est une société privée qui développe des produits thérapeutiques et diagnostiques à partir de l’analyse systématique des altérations qui affectent l’épissage alternatif de l’ARN messager.

ExonHit a fourni à Allergan une cible thérapeutique dans un chemin de signalisation inconnu dans la pathologie étudiée et validée par l’utilisation de petites molécules chimiques synthétiques. Cette cible a été identifiée par l’application de la technologie propriétaire DATAS™. Cette cible thérapeutique est maintenant soumise à un criblage systématique d’un grand nombre de structures chimiques.

Cette alliance stratégique a été établie en décembre 2002 afin de découvrir de nouveaux médicaments dans le domaine des maladies neurodégénératives, de la douleur et de l’ophtalmologie. Cet accord prévoit à la fois l’identifier de nouvelles cibles thérapeutiques grâce à la technologie de profilage génomique DATAS™ et de travailler conjointement au développement et à la commercialisation de nouvelles molécules à usage thérapeutique. Lester Kaplan, Président de la R&D chez Allergan déclare : « je suis très satisfait à la fois de l’état d’esprit dans lequel se déroule la collaboration  et des résultats déjà acquis à ce jour ».

« Fournir une cible thérapeutique validée pharmacologiquement avec l’ambition d’en fournir une ou deux autres dans les cinq prochains mois démontre la puissance de la technologie DATAS™ et notre capacité unique a analyser le rôle des altérations de l’épissage alternatif dans les pathologies » commente Fabien Schweighoffer, Directeur Général en charge de la recherche thérapeutique chez ExonHit, « ExonHit a mis en place un procédé unique de découverte thérapeutique et je suis très heureux qu’il puisse être mis à profit dans le cadre de la collaboration avec Allergan pour obtenir rapidement des résultats sérieux et prometteurs. C’est un procédé qui a déjà fonctionné dans le cadre de nos collaborations dans le domaine  du diagnostic et pour nos programmes propres ».

Le portefeuille de produits d’ExonHit comprend une molécule en étude de phase II (400 patients) afin d’évaluer son innocuité et son efficacité pour le traitement de patients atteints de Sclérose Latérale Amyotrophique (Maladie de Charcot). Les résultats de cette étude portant sur une durée d’au moins 18 mois sont attendus à l’automne 2004. Une deuxième molécule entre en essai clinique de Phase I avec des indications dans le domaine des maladies neurodégénératives et de l’ophtalmologie. Deux autres molécules nouvelles, à propriété anti-angiogénique,  subissent les études réglementaires pré-cliniques pour des applications dans les cancers et les rétinopathies.

En plus de ses programmes thérapeutiques, ExonHit a des collaborations avec Roche Applied Sciences et bioMérieux. La société développe en propre des diagnostics pour la détection à partir du sang des cancers de la prostate et du colon et souhaite licencier ces deux programmes.

A propos d’Allergan, Inc.

Allergan, Inc., basée à Irvine, Californie, USA, est une société pharmaceutique internationale qui développe des produits ophtalmologiques et pour des secteurs niches de la santé. Allergan développe et commercialise des produits dans les domaines de l’ophtalmologie, les neuromodulateurs et la dermatologie qui bénéficient à nos clients, permettent de répondre aux besoins médicaux actuels, et améliorent la vie des patients.

ExonHit Therapeutics

ExonHit Therapeutics développe des produits pharmaceutiques et des diagnostics grâce à son expertise unique dans l’analyse de l’épissage alternatif, mécanisme par lequel un même gène peut donner plusieurs protéines distinctes. La technologie d’analyse de variants d’ARNm : DATASTM permet à la société de détecter les altérations de l’épissage responsables d’une pathologie, et ainsi donne accès à une source d’informations biologiques fondamentales sur l’origine d’une maladie. ExonHit a une propriété intellectuelle très forte dans ce domaine essentiel de la biologie.

Afin d’exploiter au mieux les avantages de sa technologie DATASTM, les activités d’ExonHit Therapeutics sont organisées en quatre départements:Programmes thérapeutiques internes –Programmes thérapeutiques en collaboration -Diagnostics– Profilage de molécules et de gènes – ExonHit Therapeutics a mis sur le marché une biopuce de toxicologie prédictive, Safe-Hit™, à l’intention de sociétés pharmaceutiques, qui leur permettent de concentrer leurs efforts sur les molécules les plus prometteuses.

Fondé en 1997, ExonHit Therapeutics a établi son siége social et ses laboratoires à Paris, France et dispose d’un centre opérationnel implanté à Gaithersburg, Maryland (USA). La société compte 70 employés à travers le monde et a levé à ce jour un total de 47 millions d’euros.

Visit website http://www.exonhit.com


Marseilles, November 14th 2003 – Innate Pharma SAS  announced today the closing of an important research, development and licensing deal with Novo Nordisk A/S [NVO] aiming at the generation of a new therapeutic class of immuno-modulatory antibodies targeting natural killer (NK) cells. NK cells are a subset of non-conventional lymphocytes involved in immune regulation, and exerting direct cyto-toxicity towards a wide range of tumor targets. Molecular understanding of this promising field has emerged in the late 90’s thanks to the pioneering work of scientists associated to Innate Pharma. This novel therapeutic strategy has been recently validated in leukaemia patients and published in Science (Ruggeri et al (2002), Science 295, 2097-2100).

Under the terms of this agreement, Innate Pharma grants Novo Nordisk A/S with exclusive rights for one family of receptor targets expressed by NK cells. Innate Pharma has obtained preliminary proof of concept for products acting on this target. Novo Nordisk and Innate Pharma will now collaborate in a research program to further develop this concept for treatment of cancer. Major European academic institutions from Italy, France and Sweden will contribute with valuable research and consultancy. Novo Nordisk will be the sole party to develop and commercialize the resulting product. Innate Pharma will retain some rights to later develop the product in orphan indications. Innate Pharma is eligible for license fees, milestone payments and royalties. NN has rights for all indications, the primary target indications being in oncology. Financial terms will not be disclosed.

Hervé Brailly, CEO of Innate Pharma, says: “This is a very important agreement for Innate Pharma from a scientific, strategic and financial standpoint, and a major step-up for a product-oriented company such as Innate. This agreement provides the company with a third party validation for its innovative approach targeting non-conventional lymphocytes. Novo Nordisk is a reference partner in the field of therapeutic proteins, bringing to the project a comprehensive panel of technologies in protein engineering, and first class development and marketing capacities, thus maximizing chances of technical and commercial success. Through this deal, Innate Pharma secures significant short term cash in, providing unique comfort to the company to implement its clinical development program in the next years. In case of success, the Novo Nordisk alliance may also bring key revenues to Innate in the long run. We feel that the product has a great potential not only in cancer, but also to address effectively and safely other life-threatening conditions affecting the immune system. ”

About Innate Pharma:
Innate Pharma S.A.S., is a French biopharmaceutical company in clinical development stage specialized in cancer immuno-therapeutics. It is the first company to develop immuno-modulating medications and cellular therapies targeting non-conventional lymphocytes. The company has currently two products in Phase I of clinical development in cancer. The company was founded in 1999, and raised €25m in private funding since inception in tow rounds of financing Companies investing in Innate are Sofinnova Partners, Auriga, GIMV, INSERM Transfert, Alta Partners, Axa Private Equity, Gilde Biotech and Nutrition, Pechel Industries and Innoveris. For further company information, visit http://www.innate-pharma.com/

Novo Nordisk is a focused healthcare company. With the broadest diabetes product portfolio in the industry, including the most advanced products within the area of insulin delivery systems, Novo Nordisk is a world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as hemostasis management, growth hormone therapy and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs approximately 18,700 people in 68 countries and markets its products in 179 countries. Novo Nordisk’s B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol ‘NVO’. For further company information visit http://www.novonordisk.com/.

Visit website http:// www.innate-pharma.com


Esmertec AG, a Java solutions provider for mobile phones and embedded devices, has closed a 23m euro (.7m) Series C funding round. CEO Alain Blancquart believes it is the largest private equity investment secured by a software company in Europe over the past 15 months. Earlybird Venture Capital (Germany), Partners Group (Switzerland), and Sofinnova Partners (France) led the round. They were joined by BVgroup Private Equity, Quilvest Group, Rothschild Gestion, Invision AG, and Credit Lyonnais Equity. Speaking to ComputerWire, Jean Schmitt of Sofinnova Partners declared that Esmertec could have easily raised as much as 34m euros (.5m), such was the interest and demand during this funding round. The funding will be used to expand Esmertec’s global reach and fund new product development initiatives. Previous funding rounds included 15m euros (.4m) in Series B, and 5m euros (.8m) in 1999 when the company was founded. Esmertec is headquartered in Dubendorf, Switzerland. It has two R&D centers, one in Switzerland, and the other in the United Kingdom. Most of the R&D is carried out in Switzerland, while testing is done in the UK. It also has sales and support operations in France, USA, Singapore, China, Taiwan, and South Korea. It has partner representation in Japan. The company has kept a relatively low profile over the past couple of years, but in April this year it acquired all the Java virtual machine (JVM) assets of Insignia plc. The company now has a total of 97 staff (44 in Switzerland, 35 in the UK, 12 in Asia, and six in the US), with over 50 different nationalities employed. More than 60 of these people are engineers. The company is profitable as of the last quarter, and is expected to make revenue of 23m euros (.7m) during the current financial year ending March 31, 2004. This compares to revenue of just 5m euros (.8m) in 2002, and in 2004 revenue is expected to be in the 60m euros (.8m) region. At the moment, 80% of revenue comes from license sales, 20% from services. Essentially, the company provides Java solutions for mobile and embedded devices. Its Java Platform targets handset manufacturers, mobile operators, and application and content providers. Customers include TTPCom, Infineon Technology, Intel, Wavecom, Siemens Mobile, and Vitelcom. Esmertec has over 25 customer projects around the world, from which 28 million units of its mobile Java runtime platforms are expected to be shipped by March 2004. Current customer orders represent a backlog of over 120 million units. Schmitt of Sofinnova Partners also revealed that Esmertec has been holding talks to acquire four other companies, although understandably he refused to reveal names or put a deadline on the deals. He did admit they were looking to acquire these companies either for their technology, or for expansion into local markets. Regarding a future IPO, Hans-Ulrich Muller of Partners Group insisted the VC backers were more than happy to proceed as a privately held company for the time being, and will instead just grow the company. He said it could go public right now, and they have been fending off “buy-out” offers from interested parties.

Visit website http://www.esmertec.com


October 23, 2003 Seattle, Washington and Milan, Italy—Cell Therapeutics, Inc.
(CTI) (NASDAQ: CTIC) and Novuspharma S.p.A. (Novuspharma) (Nuovo Mercato: NOV.MI
and NOV IM) today announced that the shareholders of both companies have
approved the merger of Novuspharma with and into CTI. The transaction, which was
first announced on June 17, 2003, is expected to close late in the fourth
quarter of 2003 or early in the first quarter of 2004. As consideration for the
transaction, CTI will issue approximately 16 million shares of its common stock,
based on the number of Novuspharma ordinary shares outstanding as of June 16,
2003. Following the merger, the combined company will have one marketed product,
its own sales force and a pipeline of anti-cancer drugs. The merger is expected
to strengthen the balance sheet of the combined entity, with approximately 5
million in cash, cash equivalents and securities available-for-sale (pro-forma
at Sept. 30, 2003), and a projected -20 million a year in cost savings starting
in 2004. About Novuspharma S.p.A. Novuspharma S.p.A. is a biopharmaceutical
company that leverages its expertise in the field of oncology to discover and
develop innovative new treatments for cancer. The Company is traded on the Nuovo
Mercato of the Borsa Italiana. Based in Bresso (Milan), Italy, Novuspharma began
operations in 1999, following its spin-off from Boehringer Mannheim and
Hoffmann-La Roche. The company was spun-out in order to exploit the research and
development team’s expertise in the field of cancer research. The Company has a
broad and diverse product portfolio and a rich research pipeline including new
generations of existing therapies and completely novel classes of pharmaceutical
agents. For additional information, please visit http://www.novuspharma.com/.
Cell Therapeutics, Inc. Based in Seattle, Washington, CTI is a biopharmaceutical
company committed to developing an integrated portfolio of oncology products
aimed at making cancer more treatable. For additional information, please visit
This press release contains
forward-looking statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995. These statements are based
on management’s current expectations and beliefs and are subject to a number of
factors and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. The forward-looking
statements contained in this press release include statements about future
financial and operating results and the proposed CTI/Novuspharma merger. These
statements are not guarantees of future performance, involve certain risks,
uncertainties and assumptions that are difficult to predict, and are based upon
assumptions as to future events that may not prove accurate. Therefore, actual
outcomes and results may differ materially from what is expressed herein. For
example, if either of the companies fails to satisfy conditions to closing, the
transaction will not be consummated. In any forward-looking statement in which
CTI expresses an expectation or belief as to future results, such expectation or
belief is expressed in good faith and believed to have a reasonable basis, but
there can be no assurance that the statement or expectation or belief will
result or be achieved or accomplished. The following factors, among others,
could cause actual results to differ materially from those described in the
forward-looking statements: the risk that the CTI and Novuspharma businesses
will not be integrated successfully; costs related to the proposed merger; and
other economic, business, competitive, and/or regulatory factors affecting CTI’s
and Novuspharma’s businesses generally, including those set forth in CTI’s
filings with the SEC, including its Annual Report on Form 10-K/A for its most
recent fiscal year and its most recent Quarterly Report on Form 10-Q, especially
in the “Factors Affecting Our Operating Results” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” sections, and its
Current Reports on Form 8-K and Registration Statements on Forms S-3 and S-4.
CTI is under no obligation to (and expressly disclaims any such obligation to)
update or alter its forward-looking statements whether as a result of new
information, future events, or otherwise.
Visit website http://www.novuspharma.com


FOR IMMEDIATE RELEASE: Ingenium Appoints Dr. Klaus Dembowsky to Vice President Drug Discovery

Munich, Germany, September 2, 2003 -Ingenium Pharmaceuticals AG announced today that Klaus Dembowsky, M. D., Ph. D., has joined the company as Vice President Drug Discovery and will lead research and development activities, focusing on advancing Ingenium’s internal drug discovery portfolio toward clinical testing. Dr. Dembowsky joins Ingenium from Bayer Corporation, where he spent over 10 years in drug discovery and development, most recently as a manager of the Bayer-Millennium collaboration for drug target discovery. “Klaus brings to us the right mix of pharmaceutical development expertise, hands-on discovery and collaboration experience and valuable research focus in both the drug classes and therapeutic areas of primary importance,” commented Michael C. Nehls, M. D., Ph. D., Chief Executive Officer of Ingenium. “At this critical juncture in Ingenium’s development as a drug discovery leader, we are thrilled to have Klaus work with us to build our internal strength and lead our research and development.”

Dr. Dembowsky has over 20 years experience in pharmaceutical research and development and academic research. Over the course of his 10-year tenure at Bayer Corporation, Dr. Dembowsky was active across all stages of drug discovery and development, including drug target identification and selection, compound optimization, pre-clinical drug development and clinical trial consultation. Most recently, Dr. Dembowsky was Project Manager and Team Leader for the Bayer- Millennium target discovery collaboration on site at Millennium’s facilities in Cambridge/ MA. Prior to Bayer, Dr. Dembowsky was Associate Professor of Physiology at the University of Heidelberg. Dr. Dembowsky has conducted extensive academic research in the area of neurobiology and has co-edited a book on recombinant proteins. Dr. Dembowsky received his Ph. D. in physiology and his M. D. from the University of Heidelberg.

Ingenium Pharmaceuticals bases its business on generating the biological information critical to the discovery, validation and development of therapeutics. Ingenium’s technologies are based on a unique functional analysis of the mammalian genome at the organism level. Using its Deductive Genomics™ approach, Ingenium has produced a portfolio of medically relevant novel biological discoveries in the areas of inflammatory bowel disease, diabetes/ obesity, and neurobiology. In addition, the company had developed complimentary biomedical discovery and validation platforms (INGENOtyping™ and INGENOtypes®), which it uses internally and provides to its partners. To date, Ingenium’s partners include Elan Corporation, F. Hoffmann-La Roche Ltd., Sequenom Inc., Oxagen Ltd and multiple academic institutions.

Visit website http://www.ingenium-pharma.com