Advent Life Sciences

Press Release.

18 February 2021, London, UK: Advent Life Sciences, a leading transatlantic venture investor focused on building innovative life science companies in the UK, Europe and the US, announced today that it has closed two new funds with commitments totalling $215 million.

Advent Life Sciences Fund III is the firm’s third dedicated life sciences venture capital fund raised from new Limited Partners (LPs), including British Patient Capital, as well as existing LPs.

The Advent-Harrington Impact Fund is a new type of fund raised in collaboration with the Harrington Discovery Institute to translate innovative drug discoveries into novel treatments for the benefit of patients and society, otherwise known as ‘impact’ investing.

Investing at seed, series A and beyond, the funds will primarily support companies to develop new therapeutics but will also continue Advent’s successful strategy of backing high-potential medical technology companies.

Since its launch, Advent Life Sciences has invested at the interface of academic research and commercial drug development with a focus on identifying and backing high-impact, high-potential innovations that can deliver important new medicines for unmet medical needs. The partnership with Harrington Discovery Institute expands this paradigm by increasing access to world-class academic science with high medical and commercial promise.

Shahzad Malik, General Partner, Advent Life Sciences said:

“The last year has reinforced the vital need to translate world class science into the discovery and development of new medicines to tackle devasting diseases.  Advent has continued its successful strategy to invest in outstanding, early-stage science and to establish and nurture  innovative companies for patients and investors alike.  We are delighted that British Patient Capital joins as a new cornerstone investor in our third fund.

We are also delighted to have partnered with the transatlantic not-for-profit drug development group, Harrington Discovery Institute to raise the new Advent-Harrington Impact Fund.  This new collaboration will allow us to both broaden the quality of the investment opportunities across the globe and increase the amount of capital available to support them. We believe this translational financing is critical to the development of new medicines, and that it will deliver real impact to patients in addition to strong financial returns.”

Judith Hartley, CEO, British Patient Capital, said:

“Our cornerstone commitment to Advent Life Sciences’ latest fund is a key part of our strategy to invest with fund managers that can leverage the UK’s world leading position in life sciences. Developing new life science technologies from research through to new medicines is crucial. Long-term patient capital can support our high-potential, high growth life science companies to reach their full potential and deliver compelling returns.”

Advent’s portfolio company success stories over the last year include the sale of Advent-founded KaNDy Therapeutics to Bayer Pharmaceuticals for over $875 million bringing a non-hormonal treatment for symptoms of the menopause closer to patients; Advent-founded Arrakis’ $190 million partnership deal with Roche to develop small molecule modulators of RNA; the NASDAQ IPO of Acutus Medical launching a best-in-class mapping technology and future ablation therapies for cardiac arrythmias; and notable follow-on financings including participating in a $60 million round for F2G Therapeutics, that also received Breakthrough Therapy Designation from the FDA for its novel class of anti-fungal treatments that address a very high unmet need.

Advent’s team includes 16 investment professionals with a track record of nurturing entrepreneurs to deliver innovative new medicines. In the last 15 years alone, Advent has supported its portfolio companies in developing 14 new approved medical products.  Advent has founded over 20 new biotech companies that are focused on translating academic research into the next generation of medicines.  This stage of development in life sciences is underserved and Advent’s team has extensive experience in supporting new companies through the critical early years.

–    ENDS   –

Notes to Editors:

About Advent Life Sciences

Advent Life Sciences founds and invests in early- and mid-stage life sciences companies that have a first- or best-in-class approach to unmet medical needs. The investing team consists of experienced professionals, each with extensive scientific, medical and operational experience, a long-standing record of entrepreneurial and investment success in the US and Europe and is particularly focused on supporting entrepreneurs and founders to take innovative new medical entities from concept to approval. The firm invests in a range of sectors within life sciences, principally drug discovery, enabling technologies and med tech, always with an emphasis on innovative, paradigm-changing approaches. Advent Life Sciences has a presence in the UK, US and France.  For more information, please visit www.AdventLS.com

About British Patient Capital
British Patient Capital is the trading name of British Patient Capital Limited, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.

Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large scale businesses. Launched in June 2018, British Patient Capital has £2.5bn to invest over 10 years in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more at britishpatientcapital.co.uk

Contacts:
Katja Stout, Scius Communications
katja@sciuscommunications.com
+44 7789 435990

Laura Lane, Advent Life Sciences
laura@adventls.com
+44 207 932 2159

Press Release.

KaNDy’s lead asset NT-814 is a potential novel non-hormonal oral treatment option for women during menopause

11th August, London – Advent Life Sciences, a leading European life sciences venture capital firm, today announced the sale of its portfolio company, KaNDy Therapeutics Ltd, (“KaNDy”), to Bayer AG for an upfront consideration of USD 425 million plus potential milestone payments of up to USD 450 million until launch followed by potential additional triple digit million sales milestone payments.

KaNDy recently completed the Phase IIb with NT-814, a once-daily, oral neurokinin-1,3 receptor antagonist, publishing positive data for the treatment of frequent symptoms of the menopause, hot flashes and night sweats (vasomotor symptoms). The start of Phase III clinical trial is expected to commence in 2021. Once the deal completes, Bayer AG, a global leader in women’s healthcare, will assume full responsibility for completing Phase III studies of NT-814, registration, and marketing and sales.

KaNDy Therapeutics is a spin-out from NeRRe Therapeutics, a Stevenage, UK, based Company, which Advent Life Sciences co-founded with Mike Trower in 2012 based on a portfolio of Neurokinin modulators.  Advent Life Sciences has supported the company since inception and remained the largest shareholder throughout. In 2015, Dr Mary Kerr, then an Operating Partner at Advent Life Sciences, became full time CEO of NeRRe and in 2017 Advent introduced Andrew Kay (previously CEO of Algeta, a realised Advent portfolio company) as Chairman.

Kaasim Mahmood, General Partner at Advent Life Sciences, said:

“KaNDy is another example of our hands-on approach to achieving our twin objectives – to provide strong returns to our Investors while enabling the discovery and development of truly innovative medicines. We hope that NT-814 will fulfil the potential shown in the Phase IIb studies and provide a much-needed non-hormonal treatment for the alleviation of menopause symptoms.”

Mary Kerr, CEO and Co-Founder of KaNDy, said:

“Advent Life Sciences has played a central role in building this company from the very beginning, leveraging its extensive network to introduce new investors and providing strategic guidance to advance this potential novel medicine and become an important non-hormonal treatment option for women suffering debilitating symptoms of the menopause.”

Closing is subject to customary conditions, in particular anti-trust approval, and is expected by September 2020.

ENDS

Contact details:

Katja Stout, Scius Communications
katja@sciuscommunications.com
+447789435990

Kasim Mahmood, Advent Life Sciences
Kaasim.mahmood@adventls.com
+442079322100

About Advent Life Sciences
Advent Life Sciences founds and invests in early- and mid-stage life sciences companies that have a first- or best-in-class approach to unmet medical needs. The investing team consists of experienced professionals, each with extensive scientific, medical and operational experience, a long-standing record of entrepreneurial and investment success in the US and Europe and is particularly focused on supporting entrepreneurs and founders to take innovative new medical entities from concept to approval. The firm invests in a range of sectors within life sciences, principally drug discovery, enabling technologies and med tech, always with an emphasis on innovative, paradigm-changing approaches. Advent Life Sciences has a presence in the UK, US and France.  For more information, please visit www.AdventLS.com

About KaNDy Therapeutics
KaNDy Therapeutics Ltd. is a UK-based private clinical-stage biotech that was founded in 2017 as a spin-off from NeRRe Therapeutics Ltd. It is led by an experienced management team and backed by internationally recognised life sciences investors: Advent Life Sciences, Fountain Healthcare Partners, Forbion Capital Partners, OrbiMed and Longitude Capital. KaNDy Therapeutics is based at the state-of-the-art Stevenage Bioscience Catalyst, a leading location for companies to develop and commercialise cutting edge therapeutics.

About NT-814
NT-814 is a non-hormonal, orally administered, potent and selective small molecule dual antagonist of both the neurokinin-1 and 3 receptors. NT-814 addresses vasomotor symptoms by modulating a group of oestrogen sensitive neurones in the hypothalamus in the brain (the KNDy neurones), that in menopausal women due to the absence of oestrogen, become hyperactive and consequently disrupt body heat control mechanisms resulting in the debilitating vasomotor symptoms of hot flashes and night sweats.

Press Release.

• Leads Recent Financings of PIC Therapeutics and Amphista Therapeutics
• Portfolio Company Arrakis Therapeutics Partners with Roche

London, UK – 15 April 2020 – Advent Life Sciences (‘Advent’) announces the launch of two exciting new cancer companies, PIC Therapeutics Inc (“PIC”) and Amphista Therapeutics Ltd (“Amphista”), and a major partnership between portfolio company Arrakis Therapeutics Inc (“Arrakis”) and Roche. This continues Advent’s long-running investment and support of early-stage innovative biotechnology companies with a paradigm-shifting approach to the discovery of new medicines. Since 2006, Advent-backed companies have obtained regulatory approvals for 14 innovative medicines and medical products, reflecting the calibre and commitment of the founding scientists, clinicians and entrepreneurs that Advent has supported.  In that time, the Advent portfolio has achieved over 20 exits.

Today it was announced that Advent led the close of a $5M Seed investment round in its portfolio company, Boston-based PIC, which focuses on transforming the treatment of cancer though the selective modulation of oncogene translation. PIC was co-founded by Professor Gerhard Wagner of Harvard University and Dr Richard Peters. The company is led by CEO Sun Altbach and Alan Walts, Executive Chairman and Venture Partner at Advent. Belinda Termeer, PIC Board member, also participated in the financing.

Recently two other companies co-founded by Advent, announced success stories; Massachusetts-based Arrakis, pioneering the discovery of a new class of small molecule medicines that directly target RNA, and Glasgow-based Amphista, creating first-in-class cancer therapeutics that harness the body’s natural processes to degrade and selectively remove disease-causing proteins.

Amphista, which Advent spun out of the lab of Alessio Ciulli at the University of Dundee, closed a $7.5 million Series A round. Amphista discovers and designs small molecules that act in a different way from conventional PROTACs® and the company’s initial focus is to apply its insights to the design of anti-cancer agents.

Arrakis announced a strategic collaboration and license agreement with Roche in which Arrakis received a $190 million upfront cash payment, with the potential to achieve payments totalling up to multiple billions of dollars, for the discovery of RNA-targeted small molecule drugs against a broad set of targets. Advent founded Arrakis in October 2015 with Jennifer Petter, Advent Venture Partner Alan Walts, and the late Henri Termeer.

“Advent has a deep and enduring commitment to founding companies with paradigm-changing approaches. It is a privilege to support the scientists, clinicians and entrepreneurs in our companies as they realise important medical breakthroughs. We look forward to similar success at Amphista, Arrakis and PIC”

said Raj Parekh, General Partner at Advent Life Sciences.

Advent Life Sciences Venture Partner, Arrakis co-founder, and PIC Executive Chairman Alan Walts, commented,

“Since its founding in 2015, Arrakis has established a leadership position in the field of small molecule RNA modulation. We are thrilled to see the recently announced partnership with Roche, which will support Arrakis’ mission of transforming drug discovery. PIC Therapeutics is poised to transform the treatment of cancer and we are excited to partner with the PIC team as a lead investor.”

Advent’s highly experienced and diverse team of 16 investment professionals, all of whom are scientifically or clinically qualified, comprises serial entrepreneurs who have founded numerous companies that have discovered important new medicines for a range of unmet needs. The team takes an active role in both founding and supporting its portfolio companies.

–    ENDS  –

Media contacts:

Advent Life Sciences
Laura Lane
+44 7795 469847
pr@adventls.com

Scius Communications
Katja Stout
+44 7789 435990
katja@sciuscommunications.com

About Advent Life Sciences
Advent Life Sciences founds and invests in early- and mid-stage life sciences companies that have a first- or best-in-class approach to unmet medical needs. The investing team consists of experienced professionals, each with extensive scientific, medical and operational experience, a long-standing record of entrepreneurial and investment success in the US and Europe and is particularly focused on supporting entrepreneurs and founders to take innovative new medical entities from concept to approval. The firm invests in a range of sectors within life sciences, principally drug discovery, enabling technologies and med tech, always with an emphasis on innovative, paradigm-changing approaches. Advent Life Sciences has a presence in the UK, US and France.  For more information, please visit www.AdventLS.com

About Arrakis Therapeutics
Arrakis Therapeutics is a biopharmaceutical company pioneering the discovery of a new class of medicines that directly target RNA. Arrakis is building a proprietary pipeline of RNA-targeted small molecule (rSM) medicines focused on cancer and genetically validated targets in other disease areas. The company brings together scientific leaders in RNA structure, chemistry and biology, along with a highly experienced management team and the backing of leading life sciences investors. The company is located in Waltham, Massachusetts. For more information, please visit www.arrakistx.com or engage with them on Twitter @ArrakisTx or on LinkedIn.

About Amphista Therapeutics
Amphista Therapeutics is a biopharmaceutical company creating first-in-class therapeutics that help harness the body’s naturalprocesses to selectively and efficiently degrade and remove disease causing proteins. The company’s pipeline of novel small molecules that cause targeted protein degradation (TPD) is focused on challenging diseases including cancer. Amphista is a spin-out of renowned TPD expert Professor Alessio Ciulli’s labs at the University of Dundee, and is based in BioCity Glasgow, Scotland. The company is funded by leading life science investors including Advent Life Sciences, the European Investment Fund, the Scottish Investment Bank, and BioMotiv. For more information please visit www.amphista.com

About PIC Therapeutics
PIC Therapeutics is a Boston, MA-based biotechnology company focused on fundamentally changing how we treat cancer by developing a new generation of therapeutics based on the modulation of RNA translation. PIC’s therapeutics target the “master switch” of cancer signaling pathways, selectively blocking oncogene protein production by modulating the Pre-Initiation Complex (PIC) that drives their mRNA translation.  PIC Therapeutics’ selective approach has the potential to simultaneously modulate multiple oncogenic drivers leading to a powerful new generation of cancer-treating therapeutics. PIC is guided by a dedication to improving cancer patient outcomes and to realizing the potential of our technology to their benefit. For more information please visit www.pictherapeutics.com

Press Release.

London, UK. September 30 2015

Advent Life Sciences announced today the appointment of Roy Lobb as Venture Partner. Roy brings over 25 years of biotechnology industry experience with an outstanding record as a scientist and company founder. Following a career at Biogen where he led the discovery of a new cell adhesion pathway that became the basis of the development of Tysabri^TM, Roy co-founded Albor Biologics, Avila Therapeutics and Alvos Therapeutics. Roy received a DPhil from Oxford University, and completed post-doctoral research at Harvard Medical School, where he was a faculty member before joining Biogen. Raj Parekh, General Partner, said

“Roy’s record of innovation and his scientific judgement will be of real value to us as we look to create a new generation of biotech companies – we welcome Roy to the Team.” Roy Lobb commented “The Advent team has consistently focussed on supporting insightful new approaches to medical discovery, and I am excited by the opportunity to work closely with them to found and grow innovative new companies.”

– Ends –

About Advent Life Sciences.
Advent Life Sciences founds and invests in early- and mid-stage life sciences companies that have a first- or best-in-class approach to unmet medical needs. The investing team consists of 16 professionals, each with extensive scientific, medical and operational experience, a long-standing record of entrepreneurial and investment success in the US and Europe, and is particularly focussed on supporting entrepreneurs and founders to take innovative new medical entities from concept to approval. The Firm invests in a range of sectors within life sciences, principally drug discovery, enabling technologies and med tech, always with an emphasis on innovative, paradigm-changing approaches. Advent Life Sciences has a presence in the UK, US and France.
For more information, please visit AdventLS.com

Contact : Advent Life Sciences
Melanie McIntosh
Phone : +44 (0)207 932 2100
email : melanie@adventLS.com

Press Release.

London, UK. September 23 2015 

Advent Life Sciences announced today the appointment of Mary Kerr as an Operating Partner. Mary joins from GSK, where she has held a range of senior leadership roles most recently as Senior Vice President and Global franchise Leader for GSK’s Immuno-inflammation and Infectious Diseases portfolio. In conjunction with this appointment, Mary will take the role of CEO of NeRRe Therapeutics, a privately held biotechnology company funded by Advent Life Sciences and Novo A/S.

– Ends –

About Advent Life Sciences.

Advent Life Sciences founds and invests in early- and mid-stage life sciences companies that have a first- or best-in-class approach to unmet medical needs. The investing team consists of 16 professionals, each with extensive scientific, medical and operational experience, a long-standing record of entrepreneurial and investment success in the US and Europe, and is particularly focussed on supporting entrepreneurs and founders to take innovative new medical entities from concept to approval. The Firm invests in a range of sectors within life sciences, principally drug discovery, enabling technologies and med tech, always with an emphasis on innovative, paradigm-changing approaches. Advent Life Sciences has a presence in the UK, US and France.

For more information, please visit www.AdventLS.com

Contact : Advent Life Sciences
Melanie McIntosh
Phone : +44 (0)207 932 2100
email : melanie@adventLS.com

Press Release.

London, UK. November 10 2014

Advent Life Sciences today announced the promotion of Kaasim Mahmood, MD to General Partner. Kaasim has been with Advent since 2005 and has been responsible for several investments including uniQure, CN Creative and NeRRe Therapeutics.

Alain Huriez, MD is promoted to Partner. Alain, based in Paris France, joined Advent in 2012 as a Venture Partner.

About Advent Life Sciences.
Advent Life Sciences is one of Europe’s leading venture teams investing in life sciences businesses. The team consists of 11 professionals with extensive scientific, medical and operational experience, and a long-standing track record of entrepreneurial and investment success across the UK, Europe and the US. The Firm invests in a range of sectors within life sciences, principally in new drug discovery, enabling technologies, and med tech. Realisations in the last three years include Algeta, Avila, CN Creative, EUSA, Micromet. Current investments include Acutus, Biocartis, Cellnovo, F2G, NeRRe, Versartis. For more information, please visit www.adventLS.com

Contact : Advent Life Sciences
Raj Parekh, General Partner
Phone : +44(0)207 932 2100
email : Raj.Parekh@adventLS.com

Press Release.

London, UK, October 28 2014. – Advent Life Sciences today announced the closing of Advent Life Sciences Fund II (ALSF II), a £145.5M (USD 235M) venture capital fund raised to seed and build life sciences companies in the UK, Europe and the US. The Fund will back entrepreneurs and early-stage and mid-stage companies with the potential to deliver first- or best-in-class breakthrough products for unmet medical needs. The Fund, which quickly exceeded its target, was raised entirely from independent financial investors including funds-of-funds, pension funds, and family offices.

“We thank our returning and new LPs for the strength of their support, which allowed us to raise the commitments for this Fund in a matter of weeks”

said Raj Parekh, General Partner. He added

“The interest from LPs and demand for the Fund, particularly in current markets, is in large part a recognition of the scientific and medical entrepreneurs, CEOs and Management teams whose commitment, vision and energy is enabling our portfolio companies to bring important medical innovations to patients. It is a privilege to work with them.”

About Advent Life Sciences

Advent Life Sciences is one of Europe’s leading venture teams investing in life sciences businesses. The team consists of 11 professionals with extensive scientific, medical and operational experience, and a long-standing track record of entrepreneurial and investment success across the UK, Europe and the US. The Firm invests in a range of sectors within life sciences, principally in new drug discovery, enabling technologies, and med tech. Realisations in the last three years include Algeta, Avila, CN Creative, EUSA, Micromet. Current investments include Acutus, Biocartis, Cellnovo, f2G, NeRRe, Versartis. For more information, please visit www.adventLS.com

Contact
Advent Life Sciences
Raj Parekh, General Partner
Phone : +44(0)207 932 2100
Email : Raj.Parekh@adventLS.com

Press Release.

9th January 2014, London: – Advent Life Sciences announced today the appointment of Alan Walts as a Venture Partner.  Alan brings 27 years of biotech industry experience in corporate venture capital, business development, research and development, and general management at Genzyme Corporation.  He most recently managed Genzyme’s corporate venture fund, Genzyme Ventures (now Sanofi-Genzyme BioVentures), where he was responsible for identifying and managing a portfolio of investments.

Alan earlier led business and corporate development activities in Genzyme’s Therapeutics business, where he initiated and executed a number of transactions and new business initiatives that led to several innovative marketed products.  Alan’s roles at Genzyme also included President of Genzyme Pharmaceuticals and head of chemistry and biopolymer research.

Alan received a Ph.D. in chemistry from MIT in 1985, carried out post-doctoral research in biochemistry at MIT with Professor Christopher Walsh, and completed the executive Program for Management Development at Harvard Business School in 1993.

– Ends –

About Advent Life Sciences:
Advent Life Sciences is the dedicated Life Sciences team at Advent Venture Partners, one of Europe’s best established venture capital firms.  Advent Life Sciences predominantly founds and invests in early-stage life sciences companies in the UK, Europe and the US, that have a first- or best-in-class approach. Recent investments include:  UniQure (formerly AMT), a company that recently obtained the first EMA approval for a gene therapy product; EUSA Pharma, a speciality pharmaceutical company that obtained a BLA approval for its lead product Erwinase® and was subsequently acquired by Jazz Pharmaceuticals; Algeta (OSE: ALGETA), an oncology company that obtained FDA and EMA approval for Xofigo®, a treatment for bone metastases and disseminated tumours; Avila Therapeutics, a biotechnology company developing targeted covalent drugs acquired by Celgene; and CN Creative Ltd, a medical device company acquired by BAT.

For more information, please contact:

Melanie McIntosh
Advent Life Sciences
Phone: +44 (0) 20 7932 2100
Email: melanie.mcintosh@adventventures.com
www.adventventures.com

Press Release.

17th December 2012, London: – Advent Life Sciences announced today the appointment of Ian Nicholson as an Operating Partner.  Ian brings over 20 years of international experience in management, licensing, mergers and acquisitions in the life sciences sector.  He was most recently CEO of Chroma Therapeutics Ltd, prior to which he held senior positions at Celltech Group plc, Oxford Asymmetry, Lonza AG and Amersham International plc. Ian has served on the Boards of several Public and Private Companies in the UK and Europe.  Ian holds a BSc (Hons) from University College London and an MBA from Boston University.

– Ends –

About Advent Life Sciences:
Advent Life Sciences is the dedicated Life Sciences team at Advent Venture Partners, one of Europe’s best established growth and venture capital firms.  Advent Life Sciences invests predominantly in early-stage and growth equity life sciences companies in the UK, Europe and the US.  It will back companies that have a first- or best-in-class approach in a range of sectors within the life sciences sector, including new drug discovery, enabling technologies, med-tech and diagnostics.

Advent Life Sciences is a leader in European life sciences venture capital.  Its investments include:  PowderMed, a therapeutic DNA vaccine company sold to Pfizer; Thiakis, an obesity treatment company acquired by Wyeth Pharmaceuticals; Respivert, a drug discovery company focused on respiratory diseases that was acquired by Johnson & Johnson; EUSA Pharma, a transatlantic speciality pharmaceutical company acquired by Jazz Pharmaceuticals; Avila Therapeutics, a biotechnology company developing targeted covalent drugs acquired by Celgene Corporation, Micromet, a biotechnology company acquired by Amgen and Algeta (OSE: ALGETA), an oncology company developing treatments for bone metastases and disseminated tumours.

For more information, please contact:

Raj Parekh
Advent Life Sciences
Ph: +44 (0) 20 7932 2100
Email: raj.parekh@adventventures.com

www.adventventures.com