Thuja portfolio company Nutrileads successfully closes a new financing round to boost growth

3 September 2020 - Utrecht

Today Nutrileads announces a new financing round that will enable them to bring their first product to market. We are thrilled to be part of this new financing round of Nutrileads, and welcome the entry of new investors Icos Capital and Groeie Grutten Impact Fund, who are experienced in the fields of health and nutrition.

Nutrileads identifies and develops natural food ingredients with (yet to be) proven health benefits. The proof for such a benefit (a "health claim") is obtained by demonstrating the benefits in controlled clinical trials. Subsequently the ingredient and products carrying the ingredient will require approval by the authorities to use such claims commercially towards health professionals and consumers.

As an investor in the healthcare space, in particular in the development of novel therapeutics, Thuja is very familiar with proving health claims through clinical trials and the associated regulatory rigor that is required. Hence, we are also open to food-based products pursuing health claims, as long as there is a solid scientific basis underpinning the proposition and a team that understands this business really well. Nutrileads ticks all boxes in this respect.

We firmly believe that selected food ingredients with proven health benefits can contribute to the health of consumers and prevent disease. In those people with health issues such natural health ingredients are important to promote speedy recovery. Hence, Nutrileads fits well to our ambition to promote healthcare.

Please find the full press release here.

Argenx raises $750 million in gross proceeds in a global offering

argenx (Euronext & Nasdaq: ARGX), a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer, announced today the pricing of a global offering of ordinary shares represented by American Depository Shares (ADSs) in the United States and certain other countries outside of European Economic Area and a simultaneous private placement of ordinary shares in the European Economic Area.

The Company anticipates total gross proceeds of approximately $750.0 million (approximately €682.4 million) from the sale of 2,584,138 ADSs at a price of $205.00 per ADS and the sale of 1,074,377 ordinary shares at a price of €186.52 per ordinary share. Each of the ADSs offered in the offering represents the right to receive one ordinary share, nominal value of €0.10 per share. The U.S. offering and the European private placement are currently expected to close simultaneously on June 1, 2020, subject to customary closing conditions.

In addition, argenx has granted the underwriters of the offering a 30-day option to purchase up to 548,777 ordinary shares (which may be represented by ADSs) on the same terms and conditions.

argenx’s ADSs are currently listed on the Nasdaq Global Select Market under the symbol “ARGX,” and argenx’s ordinary shares are currently listed on Euronext Brussels under the symbol “ARGX.”

J.P. Morgan, Cowen and BofA Securities are acting as joint bookrunning managers for the offering. Stifel, JMP Securities, Wedbush PacGrow, Nomura and Kempen & Co are acting as co-managers for the offering.

The securities are being offered in the United States pursuant to an automatically effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to the securities was filed with the SEC on May 26, 2020. The final prospectus supplement relating to the securities will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to the U.S. offering may be obtained for free from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com, or by telephone at (833) 297-2926; or from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina 28255-0001, Attn: Prospectus Department, or by email at dg.prospectus_requests@baml.com.

A request for the admission to listing and trading of the ordinary shares (including the ordinary shares underlying the ADSs) on the regulated market of Euronext Brussels will be made. A prospectus for the listing of the ordinary shares on Euronext Brussels consisting of a universal registration document dated 31 March 2020, an amendment to the aforementioned universal registration document, a securities note and a summary (together, the “Listing Prospectus”) will be filed with the Dutch regulator (“Stichting Autoriteit Financiële Markten”) (the “AFM”) for approval and passporting to Belgium in accordance with article 25 of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended, the “Prospectus Regulation”).  Upon approval, the Listing Prospectus together with a Dutch translation of the summary will be made available on the website of argenx (www.argenx.com) and copies may be obtained for free from argenx upon request at info@argenx.com or by telephone at (32) 9 310 34 19.

This press release is for information purposes only and does not constitute, and should not be construed as, an offer to sell or the solicitation of an offer to buy or subscribe to any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale is not permitted or to any person or entity to whom it is unlawful to make such offer, solicitation or sale. Reference is also made to the restrictions set out in “Important information” below. This press release is not for publication or distribution, directly or indirectly, in or into any state or jurisdiction into which doing so would be unlawful or where a prior registration or approval is required for such purpose.

Please find the full press release here.

Argenx announces Positive Topline Phase 3 ADAPT Trial Results

argenx (Euronext & Nasdaq: ARGX), a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases and cancer, today announced positive topline data from the pivotal ADAPT trial of efgartigimod.

ADAPT met its primary endpoint defined as percentage of responders on the Myasthenia Gravis Activities of Daily Living (MG-ADL) score among acetylcholine receptor-antibody positive (AChR-Ab+) generalized myasthenia gravis (gMG) patients. Responders are defined as having at least a two-point improvement on the MG-ADL score for at least four consecutive weeks. Based on these results, argenx plans to submit a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) by the end of 2020.

“The efgartigimod data showed rapid and robust responses in people with gMG, as well as a favorable tolerability profile,” said James F. Howard Jr., M.D., Professor of Neurology (Neuromuscular Disease), Medicine and Allied Health, Department of Neurology, The University of North Carolina at Chapel Hill School of Medicine and principal investigator for the ADAPT trial. “Patients with this devastating disease can experience chronic and potentially life-threatening muscle weakness that has a major impact on their quality of life, and more treatment options are needed. These data are very encouraging as they show efgartigimod has potential to make a meaningful impact on daily living activities, and we are hopeful they will lead to a new treatment being available for the gMG community.”

Phase 3 ADAPT Trial Design

The Phase 3 ADAPT trial was a randomized, double-blind, placebo-controlled, multi-center, global trial evaluating the safety and efficacy of efgartigimod in patients with gMG. A total of 167 adult patients with gMG in North America, Europe and Japan enrolled in the trial and were treated. Enrolled patients had a confirmed gMG diagnosis and an MG-ADL total score of five or greater. Patients were on a stable dose of at least one gMG treatment prior to randomization, including acetylcholinesterase inhibitors, corticosteroids or nonsteroidal immunosuppressive drugs, and were required to remain on that stable dose throughout the primary trial. Patients were eligible to enroll in ADAPT regardless of antibody status, including patients with AChR antibodies (AChR-Ab+) and patients where AChR antibodies were not detected.  

Patients were randomized in a 1:1 ratio to receive efgartigimod or placebo for a total of 26 weeks as part of the primary trial. ADAPT was designed to enable an individualized treatment approach with an initial treatment cycle followed by a variable number of subsequent treatment cycles. Treatment cycles consist of four infusions of efgartigimod (10mg/kg IV) or placebo at weekly intervals. Retreatment with additional treatment cycles was initiated according to clinical response. The primary endpoint was the number of AChR-Ab+ patients who achieved a response on the MG-ADL score defined by at least a two-point improvement for four or more consecutive weeks. 

After the 26-week primary ADAPT trial, patients were eligible to roll-over into an open-label extension, ADAPT Plus.  

Please read the full press release on the website of argenx.

Indigo diabetes raises a €38 million financing round to advance its diabetes sensor into the clinic

27 July 2020 – Gent, Belgium – Thuja portfolio company Indigo Diabetes concludes a €38 million financing round for a ground-breaking invisible diabetes sensor.

The new investment round was led by Fund+ and will enable Indigo Diabetes to prepare and run a pivotal clinical study. The small sensor chip is designed to be inserted underneath the skin and measure glucose and ketones in people with diabetes. The latter is a worldwide first and aims at enabling the faster detection of life-threatening situations by both the users and their healthcare providers. At the same time, the invisible sensor aims to  substantially improve the quality of life of diabetics worldwide.

"Clinical evidence has proven that continuous glucose monitors  are effective tools for people with diabetes to improve glycemic control. We strongly believe Indigo's invisible sensor is the next stage. Not only will it allow better monitoring and treatment of diabetes, but the psychological impact of continuously painful finger-pricking or having to live daily with visible sensors will be a thing of the past thanks to this Indigo sensor," says Dr Harrold van Barlingen of Thuja Capital.

Thuja capital was the lead investor of the 2016 series A round and has continued its support of Indigo by reinvesting in the current serie B capital round. In addition to this, Harrold van Barlingen will also continue his role a board member.

Please find the full press release here in Dutch and English.

Atro medical receives Eurostarts grant

10 July 2020 – Nijmegen, The Netherlands. An international consortium led by the Dutch med-tech startup ATRO Medical receives  over € 800,000 EUROSTARS funding to address an unmet need for Knee Osteoarthritis patients. These patients often suffer from cartilage degradation related to a dysfunctional meniscus. Based on previous research, the consortium will develop a durable meniscus prosthesis for the outer knee compartment to relief pain and restore mobility. This would change the life of thousands of osteoarthritis patients.

Knee osteoarthritis is one of the leading causes of disability worldwide. Loss of meniscus tissue  in the younger years can accelerate this disease, leading to complaints such as severe chronic knee pain, stiffness and immobility. Many patients finally end up with a total knee replacement. The Dutch orthopedic startup ATRO Medical has the mission to create a solution for the long, painful period before total knee replacement. 

A durable meniscus prosthesis can serve as a new shock breaker in the knee, reducing bone to bone impacts and as such relief pain in the knee joint. An implant for the inner side of the knee joint is currently in clinical research after ten years of development. However, a solution for the outer knee compartment is still missing. Since forty percent of complaints are apparent in this so-called lateral compartment, many patients would benefit from it.

The consortium of ATRO Medical, the Swiss company Samaplast and the Orthopaedic Research Laboratory (ORL) of the Radboud university medical center receives over € 800,000 EUROSTARS funding as part of a total investment of € 2 million to rapidly change this situation. The team is committed to develop a new meniscus prosthesis for the outer knee compartment and have it ready for a clinical trial within just two years’ time. Both the durable solution for the outer knee compartment and the short development time would be unique in the orthopedic society.  

The ORL has been involved in meniscus research for many years as biomechanical expert and was part of the team developing the IP for this innovation. Samaplast is specialized in injection molding of high-precision and medical grade products out of plastic. ATRO Medical is a spin-off from the Radboud university medical center and DSM Biomedical and focuses on the design of durable meniscus prostheses. These three parties together have the required expertise to bring the new meniscus prosthesis to life with EUROSTARS funding. 

EUROSTARS supports international innovative projects led by R&D performing SMEs such as ATRO Medical, that help improve the daily lives of people around the world. This EU program aims to bring increased value to the economy, higher growth and more job opportunities. 

Please find the full press release here in English and Dutch.

Mellon Medical raises new financing round to advance its single-handed surgical suturing device.

15 June 2020 – The Hague, The Netherlands. Mellon Medical, a Dutch company focusing on the development of single handed surgical suturing devices, today announced the closing of a new financing round, to further advance the Switch® towards market introduction. The Switch® is a (single patient use) precision surgical suturing device for abdominal wall closure, ideal for enabling the ‘small bites’ technique. This will reduce the risk of complications such as post-surgery incisional hernia, resulting in improved patient outcome and a substantial reduction of healthcare costs.

Along with this agreement Demcon will become a new shareholder in Mellon, contributing to the € 4 million in new development funds together with existing shareholders BioGeneration Ventures, David Pyott, OostNL, Brabantse Ontwikkelings Maatschappij (BOM) and Thuja Capital. Thuja, OostNL and BOM were the founding investors of Mellon Medical.

Please find the full press release here in English and Dutch.

Thuja Advisory Board Member Herbert Heyneker receives Dutch Royal Honor

Herbert Heyneker, Advisory Board Member to the Thuja investment team, has been honored by the Dutch Monarchy for his contributions and commitment to biotechnology in the Netherlands and Leiden. Heyneker has been awarded the rank of Officer in the Order of Orange-Nassau and received this prestigious Royal award yesterday from the Mayor of Leiden, Henri Lenferink, during a symposium held in honor of the 35th anniversary of the Leiden Bioscience Park.

After earning his Ph.D. from Leiden University in The Netherlands, Heyneker moved in 1975 to San Francisco to accept a postdoc position in Prof. Herbert Boyer’s UCSF laboratory. Here he was involved in pioneering research into gene splicing and somatostatin. Soon afterward, he joined Genentech, founded by Boyer and Swanson, as one of their first employees. In 1984, he moved to the Genentech spinoff Genencor to become Vice-President of Research. In the 90s he co-founded several biotechnology companies including Eos, a functional genomics company, where he was the Chief Technology Officer. He also served on the board of directors for GenPharm and Guava Technologies in the U.S. and the Netherlands for IntroGene (acquired by Crucell), Pharming, Pepscan, ProFibrix, and Prosensa. He is an author on more than 50 scientific papers and inventor on more than 30 patents. Besides his advisory role at Thuja, Herb currently advises to Qiagen and various biotech start-ups, and is Chariman of the Board at Leiden based Mimetas.

Cristal Therapeutics appoints Dr Werner Cautreels as Chairman of the Board and Andre Verwei as CFO

Maastricht, The Netherlands – Cristal Therapeutics, a Phase 2 clinical stage pharmaceutical company developing targeted nanomedicines for the treatment of cancer and other diseases with high unmet patient need, announces that Dr Werner Cautreels is joining the Company’s supervisory board taking on the role of Chairman. Dr Cautreels succeeds Simon Sturge, who steps down to focus on his new role as CEO at Kymab. In addition, Andre Verwei is appointed as Chief Financial Officer (CFO) with immediate effect.

Dr Cautreels was most recently CEO of Selecta Biosciences (SELB: NASDAQ) until his retirement in December 2018, to pursue a portfolio career. Previously he held senior management positions at Solvay Pharmaceuticals, Sanofi, Sterling Winthrop and NycomedAmersham in Europe and in the USA. Dr Cautreels has a Ph.D from the University of Antwerp and an Executive MBA from Harvard Business School.

Andre Verwei brings global experience in partnering and financing at a critical time in Cristal Therapeutics’ development as it looks to partner its lead programme CPC634 and to raise additional finance to progress its business strategy. Over the last 20 years he has held senior financial roles at numerous private and listed biotech companies including ProQR (PRQR: NASDAQ), UniQure (QURE: NASDAQ), and IsoTis. He has played an instrumental role across various corporate transactions as well as supporting the IPOs of ProQR on NASDAQ and Amsterdam Molecular Therapeutics (later acquired by UniQure) on Euronext Amsterdam. Andre has an MSc in business economics and a RA (Dutch CPA) from the Erasmus University in Rotterdam.

Commenting on his appointment, Dr. Werner Cautreels, Chairman of Cristal Therapeutics said: “I am very pleased to join the Supervisory Board of Cristal Therapeutics as its Chairman and look forward to working with the Board and the Management Team to take the Company to the next stage in its development. I strongly believe that the differentiated therapeutics that are developed using Cristal’s Cripec® nanotechnology platform have the potential to make a significant contribution to the high medical need for patients in oncology and other therapeutic areas.”

Commenting on his appointment, Andre Verwei, CFO of Cristal Therapeutics said: “It is an exciting time to be joining Cristal Therapeutics’ management team, as the Company matures. The Company has built an excellent CriPec® nanotechnology platform and is poised to become a global player in the field of nanomedicines, an area which has huge potential.”

Dr. Axel Mescheder, CEO and CMO of Cristal Therapeutics said: “I would like to welcome Werner and Andre to the Company. They both bring a wealth of global industry experience, complementing the skills and expertise that we have. I am confident that they will play a vital role in supporting the next steps in our corporate development, including advancing our clinical drug program and securing business collaborations around our nanotechnology platform.

“On behalf of Cristal Therapeutics I would like to express our deep gratitude to Simon Sturge for his outstanding strategic guidance of the Company over the past 5 years. We wish him every success in his new role at Kymab.”

Alveron Pharma closes series A round to advance a cyclodextrin based procoagulant medicine into the clinic

16 May 2019, Nijmegen, The Netherlands . Alveron Pharma, a newly incorporated company established by Okklo Life Sciences BV and Sanquinnovate (part of Sanquin), is pleased to announce the closing of a EUR 6.5M Series A financing round led by Thuja together with Waterman Ventures and Oost NL. This investment allows Alveron Pharma to select a lead compound, conduct non-clinical studies, and complete a first clinical study to demonstrate safety and obtain a first clinical readout.

Alveron Pharma will focus on a unique class of cyclodextrin-based drugs, that have the ability to promote blood coagulation without inducing it in the absence of bleeding. Alveron’s first target is to reverse the effects of anticoagulants. Anticoagulants (“blood thinners”) are widely prescribed to patients with increased thromboembolic risk. While effective in preventing thrombosis, these drugs also inhibit blood coagulation when this is needed urgently, e.g. in patients who suffer a major bleed or in case of emergency surgery. Anticoagulant related bleedings are not uncommon, and may be serious, and difficult to treat since no or only selective reversal agents are available. Alveron’s cyclodextrins are unique in the sense that they restore coagulation independent of the type of anticoagulant used. Sales of selective reversal agents have been estimated at around $2 billion per annum.

Ben Nichols, CEO of Alveron Pharma: “There is a clear unmet clinical need for a universal anti-coagulant reversal agent, and the early pre-clinical data for Alveron’s unique cyclodextrin compounds are compelling. Having recently taken a new class of coagulant into clinical trials, I am thrilled to be joining the founders of this business,  Stephan Peters (who conceived the original idea, CSO) and Alex Zwiers (COO), with their expertise on cyclodextrins, and coagulation expert at Sanquin, Joost Meijers  (Chairman of the Scientific Advisory Board). Alex was also involved in the development of the world’s first cyclodextrin-based medicine, Bridion®.” 

“Multiple factors come together in this investment that are highly attractive”, says Michel Briejer of Thuja, who led this transaction. “A highly experienced and knowledgeable team, a promising set of drug leads, and a reputable partner in the field of blood, Sanquin. We are extremely pleased to be part of this venture and are confident that Alveron will create success for doctors and patients alike.”

Synerkine Pharma Raises EUR3.3 Million in Series A Financing

25 March 2019, Utrecht, The Netherlands – Synerkine Pharma B.V., which develops fusion proteins for the treatment of chronic pain, announced today that it successfully closed a EUR 3.3 million Series A financing from Thuja Capital, an undisclosed private investor, and the company’s founders.

Hans Preusting, co-founder and CEO of Synerkine Pharma, said: “We are delighted with the closing of the Series A financing. The proceeds will allow us to deliver a pre-clinical proof of concept in osteoarthritis and neuropathic pain over the next two years. Our lead compound licensed from the University Medical Center Utrecht (UMCU), a fusion protein of IL4 and IL10, has been shown to significantly reduce chronic pain in multiple pre-clinical models. The therapeutic potential of fusion proteins that mimic endogenous immune molecules and are devoid of the typical analgesic side-effects is substantial in a broad range of pain indications.”

About Synerkine Pharma

Synerkine Pharma focuses on developing novel fusion proteins for the treatment of inflammatory, neuropathic and osteoarthritic pain. Synerkine Pharma was founded in 2018 and has licensed the exclusive rights of its lead compound, a fusion protein of IL4 and IL10, from the University Medical Center Utrecht (UMCU), the Netherlands. This fusion protein targets common regulatory mechanisms in different types of chronic pain, and has unique properties as demonstrated by UMCU researchers, who showed that it is effective in reducing pain in multiple pre-clinical models. The ability to treat pain with drugs that mimic endogenous immune molecules and are based on a different mechanism of action than the current anti-analgesic drugs holds tremendous therapeutic and commercial potential.

For further enquiries:

Hans Preusting, PhD, MBA
Chief Executive Officer
+31 620 783 355
hans@synerkinepharma.com