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.




Diatos SA, a privately held biopharmaceutical company that develops novel therapeutics based on its innovative drug-targeting (TSP) and intracellular-delivery (DPV) technologies, announced today the appointments of Denis Ravel, Ph.D., to the position of Chief R&D Officer, and Sandrine Leonardi to the position of Finance Director. With these appointments Diatos has completed its core management team.

Dr. Ravel brings 18 years of experience in the biotechnology and pharmaceutical industry with extensive background in preclinical and early clinical development of new drugs in the field of metabolic diseases. Prior to joining Diatos, Dr. Ravel was Director of Pharmaceutical Development at Genset and in charge of the Genset San Diego Research Center. In his position at Genset, he led the preclinical development of Famoxin [APM-1], a recombinant protein with anti-diabetic activities. Prior to joining Genset in 2001, Dr Ravel worked for 16 years at Servier, as Senior Pharmacologist and as Project Manager of preclinical and early clinical Drug Development before being promoted to Head of Department. Dr. Ravel obtained a Ph.D. in Biochemistry from Université Pierre et Marie Curie, Paris, France, in 1983.

Sandrine Leonardi joins Diatos from ifrance (a VU group company) where she was Finance Director of the French company and its Spanish subsidiary (iespana). Ms. Leonardi’s prior positions include being Finance Controller Europe of Louis Vuitton Malletier and Head of Financial Control for Europe 2 Communication. Ms. Leonardi graduated from HEC, a leading French Business School, Paris, France, in 1992, and obtained a Masters in Political Science from Columbia University, New-York, USA, in 1993.

"We are pleased to have executives with Denis’s and Sandrine’s experience join our fast-growing company," said Dr John Tchelingerian, President and CEO of Diatos. "Denis’s experience in pharmaceutical development will be extremely valuable as we advance our pipeline of therapeutic products through preclinical and clinical development."

Contacts: Diatos
Dr. John Tchelingerian, President and CEO
Tel: +33 1 53 80 93 81

About Diatos
Diatos is a privately held biopharmaceutical company that uses its proprietary drug-targeting and intracellular-delivery technologies to develop innovative therapies for cancer and other serious diseases. Diatos has two core technology platforms:

Diatos Peptide Vector (DPV) technology enables or significantly enhances selective cellular or nuclear uptake of a broad range of therapeutic compounds, including small molecules, peptides and proteins, antibodies and antibody fragments, oligonucleotides, and nanospheres.

Tumor Selective Prodrug (TSP) technology enables the release of anti-cancer agents selectively at the sites of tumor cells.

In addition to using these technologies to develop its own product pipeline, Diatos is offering these technologies to pharmaceutical and biotechnology companies, under licensing or partnering relationships, for the development of a broad range of therapeutic products in various therapeutic fields and for target validation and drug screening.

Founded in 1999 as a spin-off from Institut Pasteur, Diatos has raised to date 23.5 Million Euros. Diatos has a total of 40 employees at its headquarters in Paris, France, and at the campus of Louvain-la-Neuve Université in Louvain, Belgium.


Over 40 CEOs from Europe and the US came together on the island of Corsica for a trans-Atlantic meeting of the minds

We’re pleased to announce that we recently held our inaugural Sofinnova CEO Conference, which we co-hosted with Sofinnova Ventures of San Francisco from March 20-22. Our goal was to provide our CEOs with constructive and thought-provoking workshops, as well as the opportunity to network with an international peer group. The conference brought unique trans-Atlantic value to our portfolio companies.

The event was a real success. Despite the coinciding outbreak of war, 43 CEOs from Europe and the US flew to Corsica to attend the 2-day event. Special guests who addressed the group included information technology keynote Jean-Francois Pontal, CEO of European telecommunications giant Orange SA; life science keynote Jean-Pierre Garnier, CEO of GlaxoSmithKline; Ken Alwyn, a senior partner in PricewaterhouseCoopers’ global organization; and Marco Landi, former president of BMC Europe, former COO of Apple Computer and former president of Texas Instruments Europe.

The CEOs discussed their business challenges and shared best practices regarding critical business issues such as surviving in an adverse economic environment, development of a global strategy, strategic business plan development, optimal sales force management, development of a customer-focused organization, corporate governance, and, of course, “managing your board.”
We will host CEO conferences annually, alternating the locale between Europe and the U.S.


esmertec and Insignia collaborate to deliver Over-the-Air Repair™ capabilities for mobile terminals

Zurich, Switzerland, February 11, 2003 * * *
esmertec AG, the leading global supplier of embedded Java? virtual machines (JVMs) for the mobile world, and Insignia Solutions today announced an agreement whereby esmertec acquires the Insignia JVM related assets with the exception of Jeode Intellectual Property. esmertec will assume the entire JVM business through a final asset purchase in June 2004. esmertec and Insignia will also work together to proliferate Insignia’s Secure System Provisioning technology to esmertec’s customers and markets. Insignia Solutions is a market-share leading supplier of JVM software solutions for high-growth markets including mobile, digital TV, telematics and embedded systems and has partnerships with many key industry players. This acquisition strengthens and consolidates esmertec’s leadership position in providing Java solutions for mass market mobile and embedded devices. Combining the esmertec and Insignia customer bases as well as best-in-class compiling technologies provides the mobile industry with a best-of-breed solution.

” This acquisition makes perfect sense from a number of perspectives”, said Alain Blancquart, CEO of esmertec. “The combined R&D team will be the largest and most experienced in the industry, allowing us to continue to deliver world-class solutions to our partners and customers”. “In addition to this we will be able to extend esmertec’s market reach by building on the strong position that Insignia has in the PDA, industrial and automotive markets. I am truly delighted by this deal and am excited about the future”, he concluded. Commenting on the complimentary compiling technologies of the two companies, Hansruedi Heeb, esmertec’s President and CTO, said: “We are excited by the prospect of combining the brainpower of the two leading engineering teams in compiling J2ME CLDC solutions and we look forward to strengthening our leadership in the entire embedded Java space thanks to Insignia’s outstanding and proven technology”. With the sale of Insignia’s JVM business to esmertec, Insignia is refocusing on its highly successful Secure System Provisioning product line. The two companies have agreed to work together to deliver an end-to-end Over-the-Air Repair solution leveraging the complimentary strengths of the two companies. In addition, Insignia will gain a highly leverage entry into esmertec’s customer base and markets with this solution. “We are delighted to have reached an agreement with esmertec”, said Mark McMillan, President and COO of Insignia. “This acquisition makes esmertec the leading worldwide provider of mobile services enabling software in the industry and the infusion of cash to Insignia enables us to exclusively focus on the significant market opportunity for Secure System Provisioning – it’s a win-win situation for both companies”.

About esmertec
esmertec is the leading software company focusing on Java™ and mobile software technologies for handheld systems. Considered to be one of the most important players in the independent VM supplier space, its flagship product, Jbed™ ME, certified by Sun Microsystems, delivers high performance computing on small devices to service providers, mobile device manufacturers and application developers. Founded in 1999, esmertec is based in Switzerland with sales, engineering and support offices in the United States and Singapore and representation in Japan.

About Insignia Solutions
Insignia Solutions’ provisioning-infrastructure software enables wireless carriers and mobile device manufacturers to fully capitalize on the mobile service opportunity. Founded in 1986, Insignia is a market-share leading supplier of Java virtual machine software solutions for high-growth markets including mobile, digital TV, telematics, and embedded systems. More than 40 million units of Insignia’s JVM™ technology are licensed by major partners including Samsung, HP/Compaq, BSQUARE, Wind River, Fujitsu, NEC, Toshiba, Motorola and Siemens AG. Insignia Solutions is traded on NASDAQ under the symbol INSG. The company is headquartered in Fremont, California with R&D and European operations based in the United Kingdom, and its Asian HQ in Japan. For additional information about Insignia or its products please visit http://www.insignia.com/.

Visit website http://www.esmertec.com


Paris, 13 December 2002. Sofinnova Partners announces the departure of Franck Delorme, General Partner responsible for developing the Information Technology sector alongside Olivier Protard. This move will not change the firm’s investment strategy, which is to focus on two key sectors: Information Technology and Life Sciences. The hiring of Alain Rodermann, Partner, in 1999 and the additions to the IT team over the last two years of a new Partner, Jean Schmitt, and two new Investment Associates, gives Sofinnova Partners the means to continue developing this sector.

” After twelve years of operational and international management experience with Dassault Systèmes, I joined Sofinnova Partners as General Partner in 1995. I have been with the firm for eight years, which corresponds to two investment cycles in this business. I now want to capitalize on these two types of experience, and focus on operational management with a strong entrepreneurial outlook”, said Franck Delorme.

Olivier Protard added: “This is a natural career move for Franck and we wish him well. Furthermore, while this decision was motivated by personal projects, it was a mutual agreement, within the partnership spirit that guides the entire team”.

During his eight years with Sofinnova Partners, Franck Delorme made twelve investments in both software and networking/telecom companies. Examples are Activia Networks, MaxiMiles, Ortems, Sefas, Solsoft, Staff & Line and, more recently, CTS and 6Wind.

About Sofinnova Partners
Based in Paris since 1972, Sofinnova Partners is a leading independent French and European venture capital firm. With key operations in the information technology and life science sectors, its investment strategy is based on two principles: “Invest in projects with a high potential in their early stages of development” and “Act as lead or co-lead investor”. Its investment team comprises 13 investment partners who are all experts in their field and can assist companies in which Sofinnova chooses to invest. Sofinnova Partners has more than 500 million euros under management, a loyal base of international investors, and plans to strongly reinforce its European development in the coming years.