SciLifeLab Drug Discovery Workshop Uppsala 1 June 2015 Nanna Lüneborg Novo Seeds
Novo Seeds • Seed arm of Novo A/S • European seed investor with Scandinavian focus • Building companies through grants and investments • Evergreen fund structure supporting follow-on investments • Life science investor covering drugs, devices and industrial biotech
Basic research grants Strategic centres > 25% ownership 100% ownership > 70% share of votes > 25% ownership > 70% share of votes Financial Large Investments Novo Seeds Novo Ventures Investments Private Private Public Public
Novo Seeds A unique combination of grants and investments to create biotech start-ups Pre-seed Seed Exploratory grants investments pre-seed grants Testing of interesting ideas PoC studies Lead identification IP analysis Business plan creation Prototype development Commercial analysis Setting the team Clinical PoC Financia l: Financial : Financial : up to USD 0.1 M up to USD 12 M* up to USD 0.5 M Time : Time : Time : up to 12 months to exit up to 18 months * May exceed $12M w board approval
Increased commitment to Scandinavian biotech start-ups No of grants and investments 3-4 new seed investments (cumulative) per year 60 50 24 40 20 30 18 20 14 31 10 24 10 17 7 13 9 4 4 2 0 1 2007 2008 2009 2010 2011 2012 2013 2014 Pre-seed grants Seed investments
What do we look for? � Groundbreaking science � Potential to be a gamechanger � Credible founder team � Publication and career track record � Entrepreneurial drive � Commercial & academic � Feasible development plan � Value-adding PoC studies � …that can be reached within scope of funding � Access to relevant expertise � Strong IP position
7 Novo Seeds – successfully growing projects into companies through our grant pipeline NNF Novo Seeds Exploratory pre- Startup seed Regional seed Series A/B Pre-seed grant seed grant investment investment investment RSK Wellcome Trust Translational Award $444m BMS deal WT, BIVF Series A € 20m Series B
8 Company founded on seminal work of Professor Kristian Helin, 2008 Company founded with DKK 5 M from Novo BRIC, KU – a world leader in the Seeds and DKK 3.8 M from DSI Innovation field of epigenetics 2010 Novo Seeds forms syndicate with Astellas, Merck Serono Ventures, Lundbeck Fond Emerge and SEEDCapital EPT103182 is effective in multiple myeloma 2011 Collaboration agreement with AbbVie (USD 5 M) Human MOLP6 xenograft 2013 Series A of DKK 117 M 2013 Georges Gemayel appointed Chairman of BoD (ex. Roche, Genzyme, FoldRx) 2014 Kapil Dhingra appointed member of BoD (Algeta, Biovex) 2014 Nomination of clinical candidate EPT103182 2015 EpiTherapeutics acquired by Gilead in $65m upfront deal Gilead Sciences Acquires EpiTherapeutics - Deal Adds Small Molecule Inhibitors against Targets Involved in Epigenetic Regulation
Novo Seeds engages biotech entrepreneur, 2009 Hans Schambye, to review a number of academic projects for commercialisation from Swedish Universities Novo Seeds awards pre-seed grant to Lund 2010 University to study galectin-3 inhibitors in various animal models Galectin-3 2011 Company founded with SEK 2.4 M seed investment from Novo Seeds Galecto founders: Ulf Nilsson – organic chemist, LU. 2011 Novo Seeds forms syndicate with Merck Serono Pioneering small molecule galectin inhibitors ventures, Sunstone Capital, SEED capital Hakon Leffler – glycobiologist, LU. Discoverer of galectin Tariq Sethi – IPF clinical researcher, KCL. 2012 Series A of SEK 88 M Professor in respiratory medicine, galectin-3 and fibrosis expert 2014 October start of first human trial of TD139 Hans Schambye – serial entrepreneur, engaged as project manager on pre-seed 2014 November $444m option deal with BMS to acquire grant by Novo Seeds company after Phase 1b
10 - an introduction Glioblastoma multiforme � Spinout from Karolinska Institute � Company founded in 2014 � Healthcap, Novo Seeds, Industrifonden � 42m SEK seed financing � Novel mechanism to target glioblastoma � Compelling animal data published in Cell, 2014 Most common and • � Lead candidate drug identified aggressive brain cancer Incidence: 50.000 new • � Project matured in academia cases per annum, US and � Developed by Chemical Biology EU Consortium Sweden High unmet need • 5-year survival: 3% •
11 - an introduction � Preclinical data: � compelling survival benefit in mice with xenograft of patient derived GBM cells � All untreated animals die within weeks � After 80 days, 6 of 8 treated animals still alive Treatment: 20 mg/kg Vacq-1, oral, 5 days, from day 14 � Financing supports clinical � Company funded to exit development: � Syndicate in place to fund � Preclinical safety studies pivotal trial � File IND � First in man to start 2016
012 2 December 2014 The 2015 Seed Portfolio Discovery Lead Optimisation Pre-Clinical Clinical Phase I Clinical Phase IIa C10 Pharma Contera Pharma Aros Pharma Anti-microbial L-DOPA induced Pain indications dyskinesia Small molecules Acesion Pharma Forendo Pharma RSPR Atrial fibrillation Endometriosis Asthma Pcovery EpiTherapeutics Galecto Anti-fungal Cancer epigenetics Fibrosis Glionova Glioblastoma Proteins / peptides Avilex Adenium IO Biotech Lysogene Neuroprotection Anti-microbial Immuno Oncology Gene therapy Affinicon MinervaX Macrophage targeted GBS vaccine drugs PoC Prototype Development PMA/510k Sales Other Biosyntia Reapplix Denator Wound care Protein stabilization Synthetic biology New in 2014/5 Exit in 2014/5
13 Our co-investors Corporate/Strategic Financial Regional InnoBio
Novo Seeds team 2015 Søren Møller, PhD Nanna Lüneborg, PhD, MBA Managing Investment Director Investment Director Post doc at Stanford University, CSO at Exiqon PhD UCL, MBA University of Cambridge, Head of Bioinformatics and Genomics at Associate, Apposite Capital, Research manager, Novozymes A/S Cancer Research UK Denator, Reapplix, EpiTherapeutics Affinicon, MinervaX, Pcovery, Glionova, IO smq@novo.dk nllb@novo.dk Bobby Soni, PhD Stephan Christgau, PhD Investment Director Investment Director PhD University of Virginia, Scientist/Project Post doc at UCSF, Reserach scientist at Novo leader at Maxygen, BD at LEO Pharma Nordisk, Project leader Nordic Bioscience, COO and VP at Osteologix Inc Acesion, Avilex, RSPR bygs@novo.dk Adenium, ForEndo, Galecto, Lysogene scga@novo.dk Annemette Hessels Administrative Coordinator Business administration degree, experience from Ferring Pharmaceuticals aezh@novo.dk
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