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10/07/2018

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:
SOFINNOVA PARTNERS
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.
http://www.recormedical.com/

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.
http://www.otsuka.com/en/

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.
http://www.omd.otsuka.com/en/

08/05/2000
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04/11/1999

Hayward CA. -Kosan Biosciences, Inc. announced today that Susan M. Kanaya has joined the company as Vice President, Finance and Chief Financial Officer.


“Susan brings more than fifteen years of experience in financial planning and management to Kosan,” said Michael S. Ostrach, Chief Operating Officer. “Her expertise will be extremely valuable as Kosan continues its development from a development stage company into an operating company.”


Prior to joining Kosan, Ms. Kanaya was Vice President, Finance at SUGEN, Inc., a publicly-held biotechnology company that recently became a subsidiary of Pharmacia & Upjohn. Since joining SUGEN in 1994 Ms. Kanaya held various positions in Finance and was responsible for financial planning and analysis, financial reporting, corporate financings and treasury and risk management.


Before joining SUGEN, Ms. Kanaya was the Controller at 50/50 Micro Electronics, Inc. and at Power Up Software Corporation. She also held financial analyst and accounting positions at American President Lines, Ltd., Wells Fargo Bank and KPMG Peat Marwick.


Ms. Kanaya graduated from the University of California, Berkeley with a BS in Business Administration, with an emphasis on Accounting and Finance.


Kosan Biosciences, Inc. is a privately held biotechnology company focused on generating small molecule compounds by genetic engineering of biosynthetic pathways, with an initial focus on polyketides. Kosan’s technology permits modifications of polyketides not feasible by chemical methods, greatly expanding the repertoire of polyketides. Therapeutic targets for the Company’s compounds include infectious diseases, gastrointestinal motility disorders, respiratory inflammation, cancer, nerve regeneration and immunosuppression.


For further information :


Daniel V. Santi, M.D., Ph.D. CEO and President KOSAN Biosciences, Inc. 3832 Bay Center Pl. Hayward, CA 94545 www.kosan.com Tel: 510-732-8400 ext. 204 Fax: 510-732-8401


Andrew Lloyd & Associates 95 Ditchling Road Brighton BN1 4ST +44-1273 675100 – Andrew Lloyd email : allo@ala.com


Visit website http://www.kosan.com

29/10/1999

Allschwil. Actelion Ltd. today announced that it has begun its international
Phase III clinical development program on tezosentan for intravenous use in
patients with acute heart failure.


Tezosentan is the first endothelin receptor antagonist optimized for the
treatment of acute pathological conditions. It has a rapid onset of action and a
short half-life allowing an easy titration. The results of the US Phase II
clinical trials will be presented at the American Heart Association Meeting in
Atlanta early November.


“Our goal is to establish tezosentan as the major emergency drug for the
treatment of acute heart failure,” commented Martine Clozel, Vice-President at
Actelion and discoverer of tezosentan. “We believe that tezosentan may have
substantial benefits over existing therapy.”


Acute heart failure is a clinical entity resulting from an acute failure of
the cardiac pump to meet the needs of peripheral metabolism. It is the number
one cause of hospitalization in the elderly. In the US alone, more than 1.5
million patients are hospitalized per year for acute heart failure.


Located in Allschwil, Switzerland, Actelion Ltd. is an emerging
pharmaceutical company aiming to bring to the market innovative proprietary
drugs through creative science related to the endothelium. Founded in December
1997, Actelion Ltd. is backed by leading international venture capital and
private investment funds.

Contact person for Actelion: Dr. Peter
Herrmann, Vice President, Head of Drug Registration and Communication Phone: +41
61 487 45 39, E-mail peter.herrmann@actelion.com


Visit website http://www.actelion.com