Wednesday, February 28, 2018

Hg Capital invests UK£7.1M in DADA S.p.A.

HgCapital today announces its investment in DADA S.p.A (DADA), a leading provider of online hosting services to SMEs in Italy, the UK and other regions across Europe.

Founded in 1995,
DADA is headquartered in Florence and has around 650,000 business and consumer customers across Europe. DADA’s digital services enable SMEs to administer their online presence: creating, managing and hosting domains and websites.

As well as operating in Italy under the brand,
DADA also operates in the UK, Ireland, Spain, France, Portugal and the Netherlands under the Namesco, Register365, Nominalia and Amen brands, respectively.

The process follows an initial investment for a majority stake of 69.432% in
DADA, made by Hg’s technology team in October 2017 and acquired from a subsidiary of Orascom TMT Investments.
HgCapital has now successfully completed a tender offer on the remaining ordinary shares and will complete a public-to-private transaction of DADA from the Italian Stock Exchange. HgCapital is one of the leading investors in the tech sector in Europe, with over 25 years’ experience in the sector and 37 investments made in technology companies, bringing together a unique collection of networks and insight to create value and support business success.

Nick Jordan, Partner at
HgCapital said: “DADA is a leading business in this hosting sector which we have admired for a number of years. We are excited about the opportunity to work with the DADA management team and its employees to continue to develop their business in Italy and across Europe organically and through acquisitions. HgCapital have extensive experience of investing in SME-focused technology businesses and we are well placed to partner with DADA for the next phase of their growth.”

Enrico Grasso, Director at
HgCapital said: “We are delighted to partner with DADA’s talented management team to continue to support Italian SMEs in their journey to become more digitally enabled and increase their online visibility. This is Hg’s third investment in Italy over the last two years, testament to our continued interest in the region and Italian businesses. Italy has an important fabric of small and medium enterprises that have unique skills, know-how, and an opportunity to grow internationally.”
HgCapital were advised by Linklaters, Banca IMI and Deloitte.

Saturday, January 6, 2018

Enterome Bioscience SA gains Principia SGR as New Venture Investor in €32M Series D Financing Round

 Milan, 4 January 2018. Principia SGR invests in Enterome Bioscience SA, a France, Paris-based cleanical-stage biotech company pioneering innovative therapies to treat microbiome-associated diseases with a focus on inflammatory bowel diseases (IBD) and immuno-oncology (IO) indications, announcing its participation in the €32M Series D financing round

Principia SGR took part as new venture investor alongside global biopharmaceutical company Bristol-Myers Squibb to the €32M Series D financing round together with all current investors - Seventure Partners, Health for Life Capital, LundbeckFonden Ventures, Omnes Capital, Nestlé Health Science.

The proceeds of the fundraising will be used primarily to progress two proof-of concept clinical trials of Enterome’s lead development programs, a Phase 2 study of the Company’s oral FimH blocker EB8018 for the treatment of Crohn’s disease, and a Phase 1b study of EO2315, a novel immuno-oncology candidate, in patients with aggressive brain cancer (glioblastoma multiforme).

In addition, Enterome will pursue the development of the next generation of its proprietary metagenomics drug discovery platform, reinforcing its leadership in the discovery and development of new therapeutic leads and targets for microbiome-associated diseases and expanding the reach of its technology platforms.

In conjunction with its equity financing, Enterome has entered into an agreement with the European Investment Bank (EIB) for access to a €40M loan facility to further support the acceleration of its pipeline and technology development.

Enterome’s EB8018 is a novel, first-in-class oral small molecule that is gut-restricted and minimally absorbed into the bloodstream. It represents a non-biologic, non-steroidal, non-immunomodulatory approach for the treatment of Crohn’s Disease. EB8018 inhibits FimH-mediated adhesion of some pro-inflammatory bacteria invading the microbiome of Crohn’s patients, such as Adherent Invasive Escherichia coli and Klebsiella, to receptors in the gut wall, thereby reducing the production of inflammatory cytokines including TNF. EB8018 successfully completed a Phase 1 trial in 2017, demonstrating safety and minimal blood absorption.

In IO, EO2315 is the lead candidate originating from Enterome’s technology platform, which is being applied to discover novel bacterial antigens that display similarities with cancer antigens. Such bacterial antigens have been shown to trigger a robust immune response against host antigens specifically expressed in tumors in animal models, thus providing innovative solutions to making cancer cells the target of the adaptive immune system.

Enterome has already demonstrated that EO2315 generates a strong immune response against an undisclosed tumor target, resulting in potent tumor cell-killing ex vivo and controlled tumor growth in vivo when combined with a checkpoint inhibitor.

The method used by Enterome is based on mapping of total fecal bacterial gene content and functions, leading to the characterization of a personal metagenome (metagenotype®) potentially for each individual. Each metagenotype® is analyzed using proprietary algorithms (linking individual metagenotype® to associated phenotypes) allowing proper evaluation of personal risk of each subject to develop a wide variety of pathological conditions.

Enterome has built up a vertical R&D organization with in-depth expertise in clinical development: the Company has already prospectively enrolled more than 2000 patients in both the U.S. & EU, as well as having expertise in technological development (migration of large-scale sequencing towards commercial diagnostic platforms).

Pierre Belichard, Chief Executive Officer of Enterome, said: “We are very pleased to receive the funding and support from this group of current and new investors, who have recognized the potential, versatility, and uniqueness of our microbiome-derived drug discovery platform. The microbiome influences many areas of human disease through its effects on the immune system, and we believe that many new therapies will be discovered based on a greater understanding of its function. Enterome, which is at the forefront of this approach, is already developing two exciting programs based on this knowledge and this financing will allow us to progress these programs through the major inflection points of clinical proof of concept, and to expand our clinical work to additional inflammatory bowel diseases and oncology indications.”

Paolo Siviero, Head of Investments at Principia SGR, said: “We are very pleased to join a prestigious syndicate of venture and strategic investors – we strongly believe Enterome is geared to achieve the major clinical milestones that are ahead. We are convinced that the differentiated approach pioneered by Enterome in the field of immune diseases caused by defects of the gut microbiome, will lead to the successful development of a new therapeutic arsenal against immune-related disorders affecting millions of people around the world.”

Enterome’s innovative research in the gut microbiome and its role in the immune system across cancer and inflammatory bowel diseases offers a tremendous opportunity to discover differentiated therapies to help patients,” said Paul Biondi, Senior Vice President, Head of Business Development at Bristol-Myers Squibb. “We are excited to support their continued progress in microbiome-derived drug discovery and development.”

Enterome has been the first investment of our microbiome fund Health for Life Capital,” said Seventure Partners CEO Isabelle de Cremoux. “We are proud to see that our initial support is backed by a unique mix of strategic and finance investors to support Enterome’s pipeline at a very exciting point of its development.”

Supporting innovation and businesses is a priority of the European Union’s bank. It is our responsibility to create the optimal conditions for financing research in biotech companies, which is essential for developing new treatments,” said EIB Vice-President Ambroise Fayolle. “The gut microbiome is becoming a key strategic area in both medical and pharmaceutical worlds, so the EIB is very pleased to support Enterome’s innovation and development projects in such a strategic field. This is an innovative financing operation that will have a strong impact on the health and daily life of Europe’s citizens.”

Enterome has already collaborated with some of the most important companies in the sector, including Johnson & Johnson, Innovation / Janssen Biotech, Takeda, ABBvie, Bristol-Myers Squibb and Nestle Health Science, some of which have directly participated in this round investment.

About Enterome
Enterome was established in 2012 in Paris (France) to develop the discoveries made by the INRA metagenomic platform, and is backed by leading venture capital investors (Seventure Partners, Lundbeckfonden Ventures, Health for Life Capital, Omnes Capital and Principia) and strategic investors (BMS, Nestlé Health Science, Shire & INRA Transfert).
and has already raised a €7.5M series A with three private equity funds (Seventure, Omnes Capital & Lundbeckfond Ventures) and two strategic investors (Danone & Shire).

Enterome develops science-based personalized medical tests and companion diagnostics based on profiling of the human gut microbiome with the goal to improve management of microbiome-related diseases, e.g., metabolic, gastrointestinal, and autoimmune. These chronic disorders depend on genetic susceptibility (polymorphisms of the human genome), but are also triggered by environmental factors where dysbiosis of the intestinal bacterial ecosystem (gut microbiome) is a major contributor.
About Principia SGR 

Principia SGR, founded in 2002, is one of the leading Italian venture capital operators.

The SGR currently manages 4 investment fund: Principia II, Principia III - Health, Principia IV - Alis and Principia V Utopia. The fund Principia III - Health, dedicated to Venture and Growth capital investments in the Healthcare sector, raised €206M million euros, and made 9 investments as of today deploying €80M. Principia IV - Alis is the fourth Fund of the SGR dedicated to the development of the excellence of Made in Italy, focused on fashion and design. The fund it is currently in fund raising. Principia Utopia is the most recent Fund launched by Principia with a target size of €70M million. The Fund has a very well-defined strategy: funding and supporting Life-Tech start ups for patents development in the first and second stage with management of the intellectual property. The focus will be on projects that develop molecules, curative devices and advanced diagnostics for prevention.

About Bristol-Myers Squibb 

Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. 

About the European Investment Bank Group 

The European Investment Bank (EIB) is the EU bank, and together with the European Investment Fund (EIF) forms the EIB Group. Thanks to its reliable expertise and the financial attractiveness of its AAA rating, the EIB Group has doubled the volume of its activities in France since 2012 (reaching EUR 9.3bn in 2016), not only supporting SMEs and innovation but also financing investment in strategic sectors such as climate action, energy, healthcare, education for young people and training facilities. 

About Health For Life Capital™ 

Seventure Partners launched Health for Life Capital™, the first venture capital fund focused mainly on investments in the microbiome, food and nutrition space. Europe is the primary focus of the fund, but it also invests in North America, Israel and Asia. The €160M fund attracted strategic investments from prestigious organizations including Danone, Novartis, Tereos, Tornier, Lesaffre and Bel, as well as financial institutions and entrepreneurs. Health for Life Capital™ is managed by Seventure's Life sciences team.

Thursday, January 4, 2018

Italian Angels for Growth and SICI - Fondo Toscana Innovazione exit WinMedical to AbMedica

Italian Angels for Growth (IAG), the leading Italian business angel network specialized in seed investing in technology startups, and SICI - Fondo Toscana Innovazione (SICI), have exited WinMedical, a company specialized in the development of wearable medical devices, to ab medicaItaly's leading company in the production and distribution of medical technologies, as well as reference point for robotics surgery - acquires WinMedical,  

ab medica was founded in 1984 by Aldo Cerruti, still president of the company. Since January 2015 Ab medica is part of an holding of companies oriented to innovation in medicine, together with Tlc (telecommunications and systems for telemedicine), Genomnia (genomics and bioinformatics), Medical Labs (production of advanced medical devices), Pacinotti (commercialization of medical devices), Telbios (remote assistance, telecardiology, home telemonitoring) and Rizzoli Orthopedic Workshops (prostheses, orthopedic equipment, aids and hospital equipment).

Win Medical was founded in 2009 as a spin off of the Sant'Anna School of Pisa and has operated in recent years from the site hosted at the Technological Pole of Navacchio. The shareholders IAG and SICI there were some members of Italian Angels for Growth, the leading Italian business angel network specialized in seed investing in technology startups, and Sici - Fondo Toscana Innovazione, have since 2011 helped finance the company's growth with an investment of €1M.

Thanks to the two shareholders who immediately believed in the company, WinMedical was able to develop the WinPack platform on the Italian market.

WinPack is the modular platform designed for continuous and real-time monitoring of the most important vital parameters. Thanks to the modularity and self-configurability that characterize it, WinPack allows to connect the various components in "plug & play" mode, monitoring 5-lead ECG, Respiratory Rate, 2-lead ECG, Heart Rate, Oxygen Saturation, Temperature, Posture and Non-invasive and continuous blood pressure.

The extreme versatility of this platform makes it adaptable to the needs of multiple departments, from general medicine to hematology, through radiotherapy, digestive and thoracic endoscopy, radiology, surgery, long-term care, pneumology, onco Pediatric hematology, up to the emergency room and geriatrics. Where low and medium intensity care is provided, WinPack proves to be extremely valuable for a more efficient reorganization of departments. As well as in hospitals, this tool allows doctors and nurses to monitor patients at home and on their own via PC, Laptop, Tablet and Smartphone.

"Consistent with the commitment that has always guided us in improving the quality of care and life of patients - says Aldo Cerruti, President of Ab Medica - welcoming in our group WinMedical is the answer to the desire to expand, improve and intensify the services of telemedicine, to ferry health towards the future of a 2.0 "medicine

Precisely in view of a redefinition of a Health Service that must evolve and change to respond to the needs of the person the company promotes and supports a new paradigm in medical care, an unprecedented course that finds in modular medical technology, wireless and wearable the key factor to address future challenges, including the contrast of clinical risk, better prevention of adverse events and consequently the reduction of costs for the health system, all to the benefit of a faster recovery and discharge of the patient.

Once the exit has been completed (the value of the transaction has not been disclosed), the medium-term objective for the company is now to become, within three years, the reference supplier in Europe in the field of medical devices to support clinical risk through the WinPack proprietary platform: WinMedical is experiencing this acquisition as a fundamental step that will guarantee it to face the challenges that global markets impose to medium-small Italian companies, A path is thus completed within the technological transfer system promoted by Regione Toscana, and WinMedical consolidates itself in the most great Italian Biomedical group confirming that processes of open-innovation, industrialization and commercialization of new technologies are also possible in Italy.