Daily Archives: April 1, 2020

iTeos Therapeutics Closes $125 Million Series B2 Financing

iTeos Therapeutics Closes $125 Million Series B2 Financing
 
– Proceeds support advancing clinical development of next-generation cancer immunotherapies targeting A2A adenosine receptor and anti-TIGIT immune checkpoint –

– Oversubscribed round co-led by new investors RA Capital Management and Boxer Capital –

– New investors Janus Henderson Investors, RTW Investments and Invus also participated along with previous Series B investors including MPM Capital and HBM Partners –
 
Cambridge, MA and Gosselies, Belgium – April 1, 2020 – iTeos Therapeutics Inc., a privately-held clinical-stage biotechnology company developing innovative cancer immunotherapies, announced today the closing of an oversubscribed Series B2 financing, which raised a total of $125 million.

The Series B2 financing round was co-led by RA Capital Management and Boxer Capital, and included new investors Janus Henderson Investors, RTW Investments and Invus along with existing investors MPM Capital, HBM Partners, 6 Dimensions Capital, Curative Ventures, Fund+, VIVES Louvain Technology Fund, SRIW, and SFPI.

Proceeds from the financing will support the Company’s continued growth and advance the clinical development of its two lead product candidates, EOS-850, a best-in-class adenosine A2A receptor antagonist and EOS-448, an ADCC-enabled anti-TIGIT antibody. EOS-850 is currently being evaluated in a Phase 1/2 clinical trial both as a single agent and in combination in several solid tumor indications. The Company plans to initiate dosing for the combination cohorts for this trial in the second quarter of 2020. The Company also recently initiated the Phase 1 portion of a Phase 1/2 clinical study of EOS-448, currently being evaluated in patients with solid tumors and hematological malignancies. Proceeds from this financing will also support the advancement of additional first-in-class preclinical programs targeting the adenosine pathway and Tregs.

“We are very pleased to have the strong support of this leading class of investors who share our excitement for the highly innovative oncology therapies we have developed at iTeos,” said Michel Detheux, PhD, President and Chief Executive Officer at iTeos. “We look forward to accelerating and expanding our clinical development efforts to identify the most promising indications and combinations for people suffering with cancer. This financing maximizes our ability to execute our development plans alone or in partnership.”

“iTeos’ pipeline of best-in-class agents has the potential to usher in a new wave of immuno-oncology therapeutics and the Company is well-positioned to make a significant, positive impact in the treatment of patients with a wide variety of cancer types,” commented Derek DiRocco, Principal, RA Capital Management. “We are thrilled to collaborate with this experienced group of high-quality investors and partner with the iTeos management team as they continue to innovate and progress these exciting programs through clinical development.”

“The iTeos team has done a remarkable job developing a pipeline of differentiated, potentially best-in-class cancer therapies,” said Aaron Davis, Co-Founder and Chief Executive Officer, Boxer Capital of the Tavistock Group.  “We are pleased to be joining them as they continue to execute and implement their vision for transforming the cancer treatment landscape.”

Derek DiRocco and Aaron Davis will join the iTeos Board as Non-Executive Directors.

About iTeos Therapeutics
iTeos Therapeutics is a privately-held, clinical-stage biopharmaceutical company dedicated to transforming the lives of people living with cancer by designing and developing next generation immunotherapies targeting two key resistance pathways to checkpoint therapy: the adenosine pathway and regulatory T cells (Tregs). The Company’s lead program, EOS-850, is a best-in-class adenosine A2A receptor antagonist currently in a Phase 1/2 study. Its second program, a fully human ADCC-enabling anti-TIGIT antibody (EOS-448), entered the clinic in February 2020. iTeos Therapeutics is headquartered in Cambridge, MA with a world-class research center in Gosselies, Belgium. For more information, please visit www.iteostherapeutics.com.

About RA Capital Management
RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare and life science companies that are developing drugs, medical devices, and diagnostics. The flexibility of its strategy allows RA Capital to provide seed funding to startups and to lead private, IPO, and follow-on financings for its portfolio companies, both facilitating the crossover process and allowing management teams to drive value creation with fewer capital concerns from inception through commercialization. For more information, please visit https://www.racap.com.

About Boxer Capital, LLC
Boxer Capital, LLC is a private biotechnology investment fund based in San Diego, California that invents and invests in drug development across multiple therapeutic indications.  Founded by the life sciences team at Tavistock Group in 2005, Boxer Capital maintains a concentrated portfolio of public and private companies.  For more information, please visit www.boxercap.com.

For further information, please contact:
Michel Detheux, CEO
iTeos Therapeutics SA
info@iteostherapeutics.com

Amber Fennell, Paul Kidwell, Matthew Neal and Sukaina Virji
Consilium Strategic Communications
+44 203 709 5700
iteos@consilium-comms.com

Sarah McCabe and Zofia Mita
Stern Investor Relations, Inc.
+ 1 212 362 1200
iTeos@sternir.com

Philips enables hospitals and GPs to remotely screen and monitor patients with COVID-19

April 1, 2020

  • Philips provides healthcare institutions with telehealth solution to process high volume coronavirus-related healthcare requests via online screening, and supports healthcare providers in the use of external call centers to offer the correct care to patients
  • If medically justified, patients infected with COVID-19 can be remotely monitored via automated questionnaires about their home situation and state of health

Amsterdam, the Netherlands Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it can help general practitioners and healthcare institutions manage the increased patient flows resulting from the COVID-19 outbreak through a dedicated and scalable telehealth solution that facilitates the use of online screening, follow-up questionnaires and monitoring, and external call center collaborations. It aims to prevent unnecessary visits to general practitioners and hospitals and the remote monitoring of the vast majority of COVID-19 patients that are in quarantine at home.

As a first step, patients complete an online questionnaire at home. Based on the results, the caregiver can let the online solution assign patients to a risk class and take appropriate actions. If needed patients can be monitored via automated follow-up surveys. Patients with a high-risk score are called by a call center for additional information. If the call center determines that care is required, the patient is referred to the GP, who can then provide the necessary care or send them to the hospital. While the questionnaire is intended to support care providers, it is explicitly not a substitute for regular or emergency care. The solution is based on Philips’ existing and proven Patient Reported Outcomes Management solution, which is being used by more than 100 healthcare institutions globally.

The Groene Hart Hospital in Gouda, the Netherlands, is one of the healthcare institutions that has not only already started using the COVID-19 screening and monitoring solution but has also contributed to its development. “We are using this application to relieve the enormous pressure currently placed on our healthcare system,” said Ronald Liem, Head of Surgery at the Groene Hart Hospital. “Together with general practitioners and the Dutch public health service, we can now focus on the most urgent cases and determine, based on the answers from the surveys, which patients do and which do not need additional care.”

“The outbreak of the new coronavirus is a major challenge for everyone in healthcare,” said Roy Jakobs, Chief Business Leader Connected Care, member of the Executive Committee, Royal Philips. “That is why we have equipped one of our existing and proven telehealth solutions with the capabilities to screen and monitor patients remotely. This remote screening solution supports healthcare institutes to diagnose and treat patients at alternative points of care and is helping to safeguard the scarce critical care capacity.”

Roy Jakobs added: “We have a broad portfolio of telehealth and remote care solutions at Philips. We are now working with hospitals and GPs to see how we can use these solutions to help frontline healthcare workers and their patients during the COVID-19 crisis.”

Hospitals, general practitioners and other care providers who want to know more about Philips’ screening and monitoring solution for COVID-19 patients can visit our website.

For further information, please contact:

Joost Maltha
Philips Global Press Office
Tel: +31 6 10 55 8116
Email: joost.maltha@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2019 sales of EUR 19.5 billion and employs approximately 80,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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33rd Electric Vehicle Symposium and Exposition scheduled for June 14-17 in Portland, Oregon

WASHINGTON, March 31, 2020 (GLOBE NEWSWIRE) — Siemens AG CEO Joe Kaeser and other key speakers, sponsors and exhibitors from the entire electric drive supply chain, including R&D experts, leading manufacturers, top industry executives and government partners, are slated to participate in the 33rd Electric Vehicle Symposium and Exposition (EVS33), scheduled for June 14 thru 17, 2020, in Portland, Oregon, USA.

“Electric drive technologies are advancing rapidly, and transportation electrification is expanding around the globe,” said Genevieve Cullen, president of the Electric Drive Transportation Association (EDTA), the US association dedicated to advancing electric drive technologies and organizer of the symposium. Cullen continued, “EDTA, our partner organizations within the World Electric Vehicle Association (WEVA) and co-host Forth are working to build on these successes, grow opportunity and increase the number of people, localities, states, regions, and countries that benefit from electric transportation. EVS33 participants can be part of that progress.”

With a history spanning five decades, the EV Symposium & Exposition has become the premier forum for sharing research, best practices, technology breakthroughs and engaging with other industry stakeholders. EVS33 features include plenary sessions, lectures and dialogue sessions led by industry leaders, technology experts and government partners. The event will cover essential and pressing topics in electric drive and encompass a focus on vehicles, infrastructure, vehicle systems and applications, public policy, market development and deployment case studies.

In addition to the dynamic speaker and presentation lineup, EVS33 plans include an exhibition hall to feature the latest technologies from global companies representing every segment of the industry and a Ride, Drive & Charge with the latest electric cars, scooters, bikes and charging equipment. A public day scheduled for June 14 will give local residents a chance to experience the Ride, Drive & Charge and exhibition hall.

EVS33 organizers remain committed to the health and safety of event participants and are closely monitoring the circumstances surrounding the novel coronavirus (COVID-19), following guidance from the World Health Organization (WHO), the Centers for Disease Control and Prevention (CDC), and recommendations set forth by the United States, Oregon and local Portland governments. Currently, the EVS33 event falls outside the mandated restrictions, and work to deliver a premier international electric vehicle symposium continues. EVS33 organizers will provide regular updates and make informed decisions that follow guidance and recommendations that safeguard the health of participants. Updates are posted on the EVS33 website at www.EVS33Portland.org.

About EDTA: The Electric Drive Transportation Association (EDTA) is the trade association representing battery, hybrid, plug-in hybrid and fuel cell electric drive technologies and infrastructure. EDTA conducts public policy advocacy, education, industry networking, and international conferences, including EVS33. EDTA’s membership includes vehicle and equipment manufacturers, utilities, technology developers, component suppliers and others. For more information about EDTA and its members, visit ElectricDrive.org. For information about owning and operating electric vehicles, please visit GoElectricDrive.org.

Contact:
Christine Spann
Electric Drive Transportation Association
cspann@electricdrive.org

Radient Technologies Inc. Applies to Extend Warrants

EDMONTON, Alberta, March 31, 2020 (GLOBE NEWSWIRE) — Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a global commercial manufacturer of high quality cannabinoid-based ingredients, formulations and products, has applied to the TSX Venture Exchange (the “TSXV”) to extend the term of 1,070,712 warrants originally scheduled to expire on April 14, 2020 (the “Warrants”) to April 14, 2021.

The Warrants were originally issued pursuant to a private placement of units completed by the Company on October 14, 2016. The exercise price of the Warrants will remain at CAD $0.25.

The amendment to extend the expiry date of the Warrants to April 14, 2021 is subject to the approval of the TSXV.

About Radient
Radient Technologies is a commercial manufacturer of high quality cannabinoid based formulations, ingredients and products. Utilizing a proprietary extraction and downstream processing platform that recovers up to 99% of cannabinoids from the cannabis plant, Radient develops specialty products and ingredients that contain a broad range of cannabinoid and terpene profiles while meeting the highest standards of quality and safety. Please visit www.radientinc.com for more information.

SOURCE: Radient Technologies Inc.

Contact: Adam Deffett, Sr. VP Corporate Development: adeffett@radientinc.com

Forward-Looking Information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the proposed extension of the term of the Warrants and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Radient, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Radient has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Radient does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Conagen Receives a Strategic Investment from Sumitomo Chemical

Research and development to support the design of clean green chemicals.

Bedford, Mass., March 31, 2020 (GLOBE NEWSWIRE) — Greater Boston-based biotech Conagen has received a strategic investment from Sumitomo Chemical, global chemical company in Japan. The investment will accelerate Conagen’s synthetic biology research and development contributing to a clean and sustainable planet.

Both Sumitomo Chemical and Conagen share a vision of bio-designing and introducing sustainable green chemicals to the market for reducing the global chemical footprint that impacts humans, animals, plants, and the environment.

“We are enthused to work with Conagen. Our strategic partnership is an excellent example of our commitment to sustainability. Conagen has a history of rapidly developing bio-products for commercialization while simultaneously developing extensive technology platforms. We look forward to supporting their newest innovations in particular areas,” said Hiroshi Ueda, vice president, Sumitomo Chemical.

Sustainable production of molecules usually involves the biological processes of fermentation or bioconversion by enzymes. This approach can scale molecules that often cannot be scaled using regular agricultural techniques.

“We are excited to partner with Sumitomo Chemical to accelerate our growth as a company as they provide deep industrial knowledge, a history of innovation in diverse areas such healthcare, environment, food, and resources and energy to contribute to solve global issues, as well as world class manufacturing expertise,” said Conagen’s Co-founder and CEO Dr. Oliver Yu.

Conagen’s bio-production mission is to develop disruptive technology for producing products that improve humankind. Its science and innovation enable new applications and transform the way ingredients are sourced.

The company’s advantage in the synthetic biology space is its one-of-a-kind vertical integration business model with the capacity to scale-up ingredient bioprocesses at multiple biomanufacturing sites around the world.

About Conagen

Conagen is an accomplished biotechnology company located in the greater Boston biotech corridor.We innovate and develop synthetic biology solutions for supporting global partners across a spectrum of current and developing markets.From our proprietary strain development to fermentation and scaling up, Conagen impacts partners’ abilities to sell and market products in the food, nutrition, flavor and fragrance, pharmaceutical, and renewable materials industries.

About Sumitomo Chemical

Headquartered in Tokyo, Japan, Sumitomo Chemical is one of Japan’s leading chemical companies. It offers a diverse range of products globally in the fields of petrochemicals, energy and functional materials, IT-related chemicals and materials, health and crop science products, and pharmaceuticals. For additional information, visit the company’s website at https://www.sumitomo-chem.co.jp/

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Ana Arakelian
Conagen
+1.781.353.9028
ana.arakelian@conagen.com