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EQS-News: TVM Life Science Management GmbH
/ Key word(s): Investment
TVM Capital Life Science Announces Creation of LAmAb Biologics to Develop Innovative Preventative Therapy for Allergy Patients LAmAb Biologics to develop first-in-class monoclonal antibody prophylactic therapeutic targeting IgE, a key mediator for allergic diseases LAmAb Biologics is the 9th early-stage or product focused company (PFC) investment for TVM Life Science Innovation II Fund Montreal, Canada / Munich, Germany – 08 February 2023 – TVM Capital Life Science (“TVM”), a leading international venture capital firm focused on investments in life sciences innovation, today announced that the Company will invest up to USD 25 million in the newly formed U.S.-based biotechnology company, LAmAb Biologics (“LAmAb”), with its fund TVM Life Science Innovation II SCSp (“TVM LSI II”). TVM will provide strategic advice to the company, with Dr. Sascha Berger, General Partner joining the Board of Directors and Marc Rivière, M.D., CMO, serving as a Board Observer. LAmAb is the 9th early-stage or project-focused company (PFC) investment for TVM LS II. LAmAb plans to develop a first-in-class monoclonal antibody (mAb) to clinical proof-of-concept in allergic rhinitis (hay fever), an indication that should enable LAmAb to efficiently show the program may be effective in humans. The antibody targets IgE, which is implicated in a broad set of allergy indications. The goal is to later expand development to other forms of IgE-mediated diseases such as asthma and food allergies, which annually affect over 30 million people in the U.S. alone. "TVM Capital Life Science is proud to have enabled the creation of LAmAb Biologics and to have secured the rights to a novel first-in-class asset with the potential to positively impact challenging-to-treat allergic diseases. This investment is a testament to our strong international network and builds on our successful single asset focus for innovative preclinical therapeutic agents,” said Sascha Berger, General Partner of TVM Capital Life Science and Member of the Board of LAmAb Biologics. “We are pleased to collaborate with the well-proven management team of Caroline Fortier and Mark Cipriano, who will act as CEO and CFO, respectively, for LAmAb." Caroline Fortier, CEO of LAmAb Biologics said: "The management team of LAmAb Biologics is excited to have the opportunity to bring to clinical proof-of-concept this promising asset as a preventative treatment for many forms of IgE-mediated allergies. These diseases incur a high burden not only on the health and social, economic, and emotional well-being of patients but also on society as a whole and remain a significant unmet medical need. We are taking a new and potentially disruptive view to addressing this challenge with the goal of enabling patients to live a full life without worrying about severe allergic reactions." Allergic asthma has been increasing in recent decades due to the effect of a wide number of environmental risk factors, many of which are included under the umbrella of “modern lifestyle”. In the United States, about 40 million people have asthma at some time in their life (13% of the U.S. population) while 26 million people (8%) currently suffer from asthma While there are an increasing number of new therapeutic agents to manage allergic asthma, this condition remains a significant public health problem, which often requires the use of emergency care, sometimes including hospital admission, and is responsible for a high number of missed school and/or work days. Moreover, it can cause early permanent disability and premature death. Thus, there is a pressing need for improved broad therapeutic agents for allergic asthma. Food allergies impact an estimated 3–10% of adults and 8% of children worldwide. In addition to the risk of severe and even fatal allergic reactions, there is considerable evidence that food allergies have a strong negative impact on quality of life, including social, emotional, physical functioning, and psychological burden for the patients and their families. There is today no cure for food allergies, with the only available treatments being antihistamines, epinephrine usage for accidental exposure, or time-consuming and risky prophylactic protocols. Better options are urgently needed to provide patients, especially those suffering from multiple allergies, with more effective and safer therapeutic options. For its PFC investments, TVM has a unique arrangement with Eli Lilly and Company (“Lilly”), which is a limited partner in TVM LSI II and the earlier fund, TVM LSI I, under which TVM and its PFCs have the option to engage Chorus, a full-service autonomous research and development unit within Lilly, to assist the PFC by implementing a lean and focused drug development plan, resulting in high-quality data packages to help determine proof of concept. About TVM Capital Life Science TVM pursues a unique two-pronged strategy, financing innovative early-stage therapeutics through a single asset company approach (Project-Focused Company, PFC) that leverages the firm’s strategic relationship with global pharmaceutical firm, Eli Lilly and Company. TVM also invests in differentiated commercial-stage medical technologies and late clinical-stage therapeutics. With its early-stage investments, TVM follows several key principles, which include increasing capital efficiency, streamlining development timelines and soliciting buyer input at the time of investment. This strategy has been validated through successful exits such as AurKa Pharma, Inc. and Acanthas Pharma, Inc. The TVM investment team has worked together for over a decade to effectively utilize this innovative approach to maximize returns for investors and finance new therapies and technologies to meaningfully improve patient lives. About LAmAb Biologics Inc. This press release contains forward-looking statements about TVM Life Science Innovation II's investment in a preclinical stage compound to treat certain types of allergies that LAmAb Biologics Inc is developing. It reflects TVM's current beliefs. Media Relations MC Services AG
08.02.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
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Quelle: EQS News