Jeito Capital co-leads $156 million oversubscribed Series B financing in Quell Therapeutics

Jeito Capital co-leads $156 million oversubscribed Series B financing in Quell Therapeutics

  • Quell Therapeutics is the world leader in developing engineered T-regulatory (Tregs) cell therapies for serious medical conditions driven by the immune system.
  • Jeito continues to build a strong portfolio of companies with groundbreaking therapies in areas of high unmet need.

Paris, France, 29 November 2021 – Jeito Capital (Jeito), a leading independent private equity firm dedicated to biotech and biopharma, today announces that it has co-led a $156 million oversubscribed Series B financing round in Quell Therapeutics (“Quell”), the world leader in the development of engineered T-regulatory (Treg) cell therapies for serious medical conditions driven by the immune system.

Jeito co-led the financing with Ridgeback Capital Investments and SV Health Investors and Fidelity Management & Research Company, with participation from founding investor Syncona and new investors including British Patient Capital through its Future Fund: Breakthrough program, Janus Henderson Investors, Monashee Investment Management, Point72 and funds managed by Tekla Capital Management LLC. Rachel Mears, Partner at Jeito Capital, will join Quell’s Board of Directors.

Quell is harnessing the full power of Tregs, known as the “master modulators” of immune homeostasis, to create novel cell therapies designed to suppress overactive immune responses, drive long-term tolerance in the local immune environment and promote tissue repair.

Proceeds from the financing will be used to fund the LIBERATE Phase 1/2 clinical trial of QEL-001, Quell’s first-in-class antigen-specific multi-modular CAR-Treg cell therapy candidate designed to prevent organ rejection in liver transplant patients by inducing durable immune tolerance and eliminating the need for lifelong immunosuppression. QEL-001 is on track to become the first multi-modular engineered CAR-Treg cell therapy in clinical development, with patient recruitment expected to begin before the end of the year. Funds will also be used to advance the company’s pipeline in core therapeutic areas of transplantation, neuroinflammatory diseases and autoimmune diseases, as well as accelerate the development of Quell’s autologous multi-modular engineered Treg platform and further develop an allogeneic CAR-Treg platform.

Quell’s versatile platform technology enables the company to design, engineer, and manufacture at scale Treg products with greater stability, persistence, and potency than earlier generations. Key elements of this technology include its proprietary Foxp3 Phenotype Lock technology, which enables Quell to “lock” Tregs in an immunosuppressive phenotype that enhances their safety, stability, and efficacy; chimeric antigen receptor (CAR) modules for tissue targeting; and additional modules to enhance disease-specific efficacy and safety.

The company, which is based in London, U.K., with an office in Boston, Mass., U.S., is led by Chief Executive Officer Iain McGill, a leading pharmaceutical executive with extensive relevant experience, having spent most of his 25 years in the industry in immunology, including the areas of solid organ and cell transplantation, at global pharmaceutical companies such as Jazz Pharmaceuticals, Roche, and Novartis. Quell recently strengthened its executive leadership team with key appointments, including Dominik Hartl as Chief Medical Officer and Tracey Lodie as Chief Scientific Officer.

Rafaèle Tordjman, Founder and CEO at Jeito, said:Our investment in Quell is testament of our ambition to continue building a strong portfolio of companies with the potential of becoming market leaders. Following the recent closing of our first fund, Jeito I, at €534 million ($630 million), we are pleased to have co-led this financing round alongside many prestigious investors in the US and the UK. With its high-quality science, expert leadership team, strong syndicate of investors and significant capital, Quell is ideally positioned to accelerate its therapies through clinical development for the benefit of millions of patients.

Rachel Mears, Partner at Jeito, said:We have been impressed with Quell’s science, its team, ambitious strategy, and commitment to accelerating the delivery of truly innovative and life-changing therapies for patients across autoimmune and inflammatory diseases and in organ transplant rejection, for which there is a high unmet need. Quell has made significant progress since the company’s creation in 2019 and we are excited to be working closely with the team, providing continuous support and expertise, as they progress their first enhanced Treg cell therapy candidate into clinical development.”

Iain McGill, Chief Executive Officer of Quell Therapeutics, said:We are proud to have the support of this high-quality syndicate of investors as we drive forward to our next stage of growth. With this financing, we have the full suite of capabilities – capital, cutting-edge science, and a world-class team – to advance our pipeline and platform to key milestones on our path to ultimately deliver potentially transformative therapies to patients suffering from diseases caused by immune dysregulation.”

About Jeito Capital
Jeito Capital is a global leading investment company with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports entrepreneurs through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access in Europe & the United States. Jeito Capital has €534 million under management. Jeito Capital is based in Paris with a presence in Europe and the United States. For more information, please visit www.jeito.life, or follow on Twitter @Jeito_life or LinkedIn.

About Quell Therapeutics

Quell Therapeutics is the world leader in developing engineered T-regulatory (Treg) cell therapies that aim to harness, direct and optimize their immune suppressive properties to address serious medical conditions driven by the immune system.

The Company is leveraging its pioneering phenotype lock technology, unique multi-modular platform and integrated manufacturing capabilities to design and develop a pipeline of highly engineered Treg cell therapies with greater potential for stability, persistence and potency than earlier generations of Treg cell therapy approaches.

Quell’s lead candidate QEL-001 is being developed to induce operational tolerance following liver transplantation, with the potential to protect the post-transplant liver without the need for chronic immunosuppressive medications. Quell is also advancing additional programs in neuroinflammatory and autoimmune diseases. www.quell-tx.com.

For more information please contact:

Consilium Strategic Communications

Mary-Jane Elliott / Melissa Gardiner / Davide Salvi / Kris Lam

Jeito@consilium-comms.com

Tilder (French PR)

Marion Bougeard
m.bougeard@tilder.com

Hynd Boumehdi
h.boumehdi@tilder.com

UAE’s GreenDome Investments Acquires Elite Co. in Multi-Million Dollar Middle East Logistics Deal

UAE’s GreenDome Investments Acquires Elite Co.

UAE’s GreenDome Investments Acquires Elite Co.

DUBAI, United Arab Emirates, Nov. 28, 2021 (GLOBE NEWSWIRE) — GreenDome Investments announced today that it has closed on the acquisition of Elite Co. from Prama Holdings. Elite Co. is a leading fully integrated land freight and courier solutions providers in the Middle East. The transaction represents one of the region’s largest acquisitions in the logistics market and is the first of many acquisitions by GreenDome Investments, a logistics investment vehicle owned by regional industry leaders.

“The acquisition of Elite Co. represents our first transaction as we embark on a journey to build an integrated, customer-centric and technology-focused end-to-end global logistics services business. We intend to support the region’s fast-paced economies while expanding our offering beyond the Middle East,” said Saadi Abdul Rahim Hassan Al Rais, Chairman of GreenDome Investments and Managing Director of Rais Hassan Saadi Group.

Elite Co., founded in the 1990s, is a highly specialized overland freight and courier services business and has state-of-the-art operations and assets across Oman, Bahrain, Qatar and the United Arab Emirates, with its regional hub in Dubai. It has over 1000 staff, 600 trucks and 100,000 square feet of warehouse capacity.

“We are humbled by what we have built over the past twenty years and we could not have found a better-suited investor to take Elite Co. into its next phase of its growth. GDI’s ambition to build a regional end-to-end logistics champion with global reach is inspiring and we are pleased that Elite will be the foundation from which this vision is realized,” said Roney Malhotra, outgoing CEO of Elite Co. and Chairman of Prama Holdings.

GreenDome Investments, headquartered in Dubai, aims to build an integrated logistics services powerhouse to tap into the Middle East and the world’s growing logistics and e-commerce industry. The company is backed by regional industry leaders, including UAE-based Rais Hassan Saadi Group and the Sharaf Group, and Logipoint, a subsidiary of Saudi Industrial Services Company, SISCO, a listed company on the Saudi Arabia stock exchange.

“We see tremendous opportunity in the Middle East, as well as the broader global logistics industry, and we intend to leverage our decades of experience and expertise to build, through M&A, a globally integrated freight, courier, and contract logistics businesses,” said Mohammed Sharaf, former Group CEO of DP World and CEO of GreenDome Investments.

“We aim to offer unparalleled services to regional and global markets, while we support partners and customers to unlock and create value. In addition, the growing e-commerce sector, both regionally and globally, represents an important growth segment we intend to capitalize on,” added Sharaf.

“Elite Co. is well positioned to capitalize on the projected growth in the e-commerce sector as well as the broader express courier market, both in the Middle East and around the world. We will capture value from the industry’s growth by strengthening our network and offering, while also exploring global growth opportunities,” said Hisham Albahar, Incoming CEO of Elite Co.

“With the fourth industrial revolution upon us, we expect to see significant disruption and opportunity in the end-to-end logistics industry, and we intend to build on Elite Co.’s existing technology and expertise to improve efficiency, drive down costs and offer customer-centric solutions. Importantly, we will work closely with partners and customers to unlock value through sophisticated digital ecosystems to optimize supply chains,” added Albahar.

Press Contact: media@elite-co.com

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Image 1: UAE’s GreenDome Investments Acquires Elite Co.

Saadi Al Rais, GDI Chairman; Roney Malhotra, Chairman of Prama Holdings; Mohammed Sharaf, GDI CEO, Hisham Albahar, Incoming Elite CEO

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NTB police pursues massive vaccination ahead of 2022 MotoGP

The West Nusa Tenggara Regional Police (Polda NTB) is pursuing massive COVID-19 vaccination for the community to prepare the region for the 2022 MotoGP racing event.

“Next year’s MotoGP is forecast to bring more participants, six times bigger than the previous World Superbike (WSBK). To this end, we must expedite vaccination in an effort to achieve herd immunity in NTB,” Head of Public Relations of the NTB Regional Police Senior Commissioner Artanto stated on Monday.

Artanto is optimistic that the community would support the vaccination program by visiting the vaccination location readied in every sub-district.

Artanto also ensured the readiness of vaccine stocks in NTB.

“With this effort, we hope that all NTB residents would be fully vaccinated to achieve herd immunity in the region and be able to curb the spread of COVID-19, especially for the MotoGP next year,” he remarked.

From the achievement of the simultaneous COVID-19 vaccination in NTB, data on November 27 recorded that NTB had achieved satisfactory results.

From the daily target of 61 thousand people, as many as 64,377 doses of vaccine were administered to the public.

“This means the vaccination rate had reached 106 percent on November 27, thereby exceeding the target,” Artanto affirmed.

The highest vaccination coverage was in West Sumbawa District, at 161 percent; Mataram City, 159 percent; North Lombok District, 152 percent; Dompu District, 144 percent, Bima City, 128 percent; Sumbawa District, 113 percent; West Lombok District, 107 percent, Bima District, 106 percent; East Lombok District, 90 percent; and Central Lombok District, 85 percent.

Artanto lauded the sound collaboration among the National Police (Polri), Indonesian Military (TNI), health workers, and the local government owing to which the vaccination target in NTB was achieved.

“Moreover, thank you to the public that understands the importance of COVID-19 vaccination, which plays an important key in the success of achieving this target,” he added.

Source: Antara News

2022 state budget focuses on six main policies: President Jokowi

The 2022 State Revenue and Expenditure Budget prioritizes six policies, with the main focus remaining COVID-19 control, President Joko Widodo (Jokowi) has stated.

“We will focus on six main policies. First, to continue to control COVID-19 while still prioritizing the health sector,” he said at the Merdeka Palace, Jakarta, on Monday.

He delivered the statement during an event attended by cabinet members and other state officials.

“Second (focus), maintaining the sustainability of social protection programs for the poor and vulnerable,” President Jokowi informed.

Third, improving or developing human resources to make them superior, he said. Fourth, pushing for the development of infrastructure and encouraging adaptation to technology, he disclosed. Fifth, strengthening fiscal decentralization to increase and distribute welfare among the regions, he added.

“The sixth is to continue budgeting reform by implementing ‘zero-based budgeting’ so that spending is more efficient,” he remarked.

In 2022, ministers and regional heads must continue to prepare themselves to face the risk of the COVID-19 pandemic, which is still posing a threat to the global community, including Indonesia, President Jokowi said.

“Uncertainty in the health and economic fields must be our basis for planning and implementing programs,” he said.

The 2022 State Budget was designed and will be implemented in a responsive, anticipatory, and flexible manner, in response to the uncertainty of 2022, he explained.

“Always innovate and anticipate various changes that occur while maintaining good governance,” he remarked.

The President said that the 2022 state budget has a crucial role.

“As the G20 Presidency, we must demonstrate our ability to deal with climate change, especially reductions in emissions and the movement to develop the environment in a sustainable manner. We must show real action toward (realizing) a green and sustainable economy,” he added.

The 2022 State Budget has been stipulated in Law Number 6 of 2021, which came into force on October 27, 2021. The law regulates the 2022 state revenue and expenditure budget.

Law Number 6 of 2021 states that the 2022 state budget includes a planned state revenue of Rp1,846.1 trillion and state expenditure of Rp2,714.2 trillion.

The budget deficit reached IDR 868 trillion or 4.85 percent of gross domestic product, while the deficit was targeted at 4.85 percent of GDP.

The projected economic growth in 2022 is estimated at 5.2 percent, while the poverty rate is expected to decline to 8.5–9 percent.

Furthermore, the open unemployment rate is expected to range between 5.5–6.3 percent, and the inequality ratio to fall to 0.376– 0.378. Meanwhile, the human development index is targeted to increase to 73.41–73.46.

Source: Antara News

ASSA Award encouragement to improve services: BPJS Kesehatan

Indonesia’s Health Care and Social Security Agency, BPJS Kesehatan, has said that the 38th ASSA Recognition Award 2021 that it recently received has encouraged it to continue delivering the best possible services to its customers.

“The award is an appreciation for the collaborative works of all parties, including our stakeholders,” BPJS Kesehatan president director Ali Gufron Mukti said in a statement that ANTARA received here on Monday.

He said he appreciated all those who contributed to BPJS Kesehatan’s achievement, including members of the supervisory board and stakeholders such as BPJS Watch and Jamkeswatch.

As per an announcement posted on BPJS Kesehatan’s official website, the ASEAN Social Security Association (ASSA) has awarded the agency the 38th ASSA Recognition Award 2021 in the Continuous Improvement Recognition Award category.

Mukti accepted the award recognizing the agency’s achievement for innovations in its online health consultation and administrative service from ASSA chairman Heng Sophannarith in a virtual event last week (November 26, 2021).

Mukti said the COVID-19 pandemic has restricted access to health facilities for many beneficiaries of the Health Insurance and Healthy Indonesia Card (JKN-KIS) Program owing to their concerns over the coronavirus.

“This condition has pushed the BPJS Kesehatan to take strategic measures to ensure the welfare and satisfaction of our customers through a digital service innovation,” he added.

The digital service innovation has resulted in the availability of online health consultation and administrative services such as the “Pelayanan Administrasi Melalui Whatsapp” (PANDAWA), “Chat Assistant JKN” (CHIKA), “Voice Interactive JKN” (VIKA), “BPJS Kesehatan Care Center 165”, and “Mobile JKN”, he noted.

The virtual awards event was attended by representatives from Indonesia, Brunei Darussalam, Malaysia, Cambodia, Laos, Myanmar, the Philippines, Thailand, and Vietnam.

Source: Antara News

Cases may rise by 70,000–400,000 in third wave: official

A third wave of COVID-19 during the year-end holidays could see the number of cases reaching 70 thousand in a moderate scenario and 400 thousand in the worst-case scenario.

Head of the data and IT division of the COVID-19 Handling Task Force Dr. Dewi Nur Aisyah made the prediction during an online press conference on the ‘Analysis of the 3rd Wave of COVID-19 in Indonesia’ on Monday.

The prediction regarding the potential increases in cases was made with the help of artificial intelligence (AI) by using data and variables related to COVID-19 handling in Indonesia, she informed.

In an ideal scenario, using the variable where herd immunity has been formed, people’s mobility is relatively low, there is strict implementation of health protocols, and there are no new variants, active cases are predicted to continue to decline until the beginning of 2022, she said.

However, this scenario has been eliminated since the new variant of Omicron has emerged and herd immunity is not expected to be established in December 2021, Aisyah added.

The second scenario shows the potential for active cases peaking to around 70 thousand, with herd immunity not formed, high population mobility, and good community adherence to health protocols, she said.

“We have not formed herd immunity because we have not achieved vaccination target by 70 percent in December 2021. Our people mobility is quite high, but our health protocols implementation is also good. With this scenario, we might have 70 thousand new cases,” she explained.

The third scenario predicts 260 thousand new cases if group immunity is not formed, public mobility is high, and there is negligence in health protocol implementation, she said.

The gap between the peak predicted for the third wave and the second wave is quite wide, with the difference pegged at 200 thousand cases, Aisyah said. The level of health protocol compliance will play a major role in the case tally, she added.

Therefore, she urged the public to remain disciplined in implementing the health protocols to prevent a significant increase in COVID-19 cases.

Meanwhile, in the worst-case scenario, she predicted that Indonesia would have 400 thousand new cases if herd immunity is not established, community mobility is high, health protocol implementation is low, and a new variant appears which is 40 percent to 50 percent more infectious than the previous one.

However, any potential spike in active cases in the third wave is expected to remain lower than that witnessed in mid-2021, she said. This is due to the wide coverage of COVID-19 vaccinations in the community compared to the middle of 2021, she explained.

Source: Antara News

HIV case count 47% lower in 2020 than decade ago: ministry

Director of control and prevention of directly infectious diseases at the Health Ministry, Siti Nadia Tarmizi, has said that HIV infections were 47 percent lower in 2020 compared to 2010.

“HIV infections in 2020 were 47 percent lower than in 2010. We hope to maintain this sloping number,” Tarmizi remarked at the 2021 World AIDS Day webinar on Monday.

She said she hopes that the impact of the COVID-19 pandemic will not be widespread so that new HIV infections and even deaths due to HIV can be suppressed.

In 2020, it is estimated that there were 543,100 people in Indonesia living with HIV, she noted. A total of 30,100 people with HIV were estimated to have died, but only 10,103 deaths were reported to the authorities, she said.

A total of 149,883 people living with HIV spread across 502 districts/cities had ready access to antiretroviral (ARV) treatment, she informed.

“We must accelerate our efforts to break the chain of HIV transmission. There are many things we must do, such as learning from Thailand, to quickly reduce the number of HIV cases,” Tarmizi remarked.

By 2030, Indonesia is targeting to have zero new cases of HIV infections, no AIDS-related deaths, and no discrimination against people living with HIV/AIDS (ODHA), she said.

This can be achieved if 95 percent of ODHA are aware of their HIV status, 95 percent of ODHA are on ARV treatment, and 95 percent of ODHA have their viral load suppressed, she added

“Although in the midst of the COVID-19 pandemic, we must continue to strengthen and pay attention to HIV treatment,” she said.

She further explained that HIV is a virus that attacks the immune system.

“While AIDS is an advanced condition when someone is already infected with HIV and their condition becomes worse. There are a collection of symptoms and physical signs in the patients. The virus takes advantage of the patient’s weak body condition which then causes the disease,” she informed.

Tarmizi reminded that the entire community should build awareness about this disease, especially since the virus is not immediately detectable.

“Even though the virus has infected us, there is such a thing as a window period. When we are infected with the HIV virus, it will take more than three weeks, until three months for the virus to be detectable in the laboratory,” she noted.

Source: Antara News

Indonesia revises travel rules over Omicron concerns

The Law and Human Rights Ministry has enacted a temporary ban on the entry of citizens and travelers from some countries to Indonesia citing concerns over the Omicron variant of COVID-19.

“The Directorate General of Immigration refuses entry to foreigners who have stopped or lived in South Africa, Botswana, Angola, Zambia, Zimbabwe, Malawi, Mozambique, Namibia, Eswatini, Lesotho, and Hong Kong within a period of 14 days,” Head of Public Relations and General Affairs at the Directorate General of Immigration of the Law and Human Rights Ministry Arya Pradhana Anggakara said in a written statement received here on Monday.

The travel ban will come into effect on November 30, 2021, he informed. The government has said that the policy will be effective from November 29, 2021, he added.

“So, if there are foreigners who have visited these countries within the past 14 days, they will immediately be refused entry to Indonesia,” he explained.

The Directorate General of Immigration has also temporarily suspended the granting of visit visas and limited stay visas for citizens of South Africa, Botswana, Angola, Zambia, Zimbabwe, Malawi, Mozambique, Namibia, Eswatini, Lesotho, and Hong Kong, Anggakara informed.

As for travelers from other countries, restriction rules will still apply, in accordance with the Law and Human Rights Ministerial Regulation Number 34 of 2021, he said.

The law regulates the issuance of immigration visas and residence permits during the COVID-19 handling and national economic recovery period, he added.

Further information on the new rules can be obtained on the Directorate General of Immigration’s website www.imigrasi.go.id, which is also offering assistance through the website during working days and hours.

Source: Antara News