RESEARCH TRIANGLE PARK, NC – January 3, 2018 – Liquidia Technologies, Inc., a late-stage clinical biopharmaceutical company focused on improving the performance of medicine by precisely engineering drug particles, today announced the initiation of a Phase 3 clinical trial evaluating LIQ861 for the treatment of pulmonary arterial hypertension (PAH). LIQ861, developed using Liquidia’s proprietary PRINT® technology, is a powder formulation of treprostinil designed for deep-lung delivery using a disposable, dry powder inhaler (DPI). PAH is a chronic, progressive disease caused by the hardening and narrowing of the pulmonary arteries, which often results in heart failure. Previously approved by the U.S. Food and Drug Administration (FDA) in oral, nebulized and parenteral formulations, treprostinil is a synthetic analog of prostacyclin, a vasoactive mediator deficient in patients with PAH yet essential to normal lung function to regulate vessel tone.
Liquidia Initiates Phase 3 Clinical Trial of LIQ861 in Patients with Pulmonary Arterial Hypertension
Pappas Capital Portfolio Company Rotation Medical Acquired by Smith & Nephew
Dec 6, 2017 –Pappas Capital, a life science venture capital firm, announced today that its portfolio company Rotation Medical Inc. has been acquired by Smith & Nephew plc, a UK-based global medical technology company. Smith & Nephew acquired the company for $125 million in initial cash consideration, plus an additional $85 million in potential milestone payments. Rotation is the second exit this year by a Pappas portfolio company. Earlier this year, portfolio company CoLucid Pharmaceuticals was acquired by Eli Lilly for nearly $1 billion. Since 2014, three portfolio companies founded or co-founded by Pappas have been sold to large pharmaceutical companies: CoLucid; Afferent Pharmaceuticals, bought by Merck in 2016 for $500 million upfront and $750 million in milestones; and Lumena Pharmaceuticals, bought by Shire in 2014 for more than $300 million.
Smith & Nephew Completes Acquisition of Rotation Medical Inc.
Dec 6, 2017 – Smith & Nephew plc (LSE:SN, NYSE:SNN), the global medical technology business, announces it has completed the acquisition of Rotation Medical Inc., the developer of a novel tissue regeneration technology for shoulder rotator cuff repair, supporting the Company’s strategy to invest in innovative technologies that meet unmet clinical needs. The acquisition cost is $125 million and up to a further $85 million over the next five years, contingent on financial performance.
Smith & Nephew Acquires Tissue Regeneration Technology for Shoulder Repair
Oct 23, 2017 – Smith & Nephew plc (LSE:SN, NYSE:SNN), the global medical technology business, today announces that it has entered into a definitive agreement to acquire Rotation Medical Inc., a developer of a novel tissue regeneration technology for shoulder rotator cuff repair, for an initial cash consideration of $125 million and up to $85 million over the next five years, contingent on financial performance.
Amplyx Pharmaceuticals Raises $67 Million in Series C Financing
San Diego, CA, Aug 2, 2017 – Amplyx Pharmaceuticals, a company developing novel antifungal agents for life-threatening fungal infections, today announced that it has raised $67 million through a Series C financing led by Sofinnova Venture Partners and including other new investors Lundbeckfonden Ventures, Arix Bioscience and Pappas Capital. Existing investors New Enterprise Associates, RiverVest Venture Partners, 3×5 RiverVest II and BioMed Ventures also participated in the financing. In conjunction with the financing, Anand Mehra, M.D., managing partner at Sofinnova Ventures, and Johan Kördel, Ph.D., senior partner at Lundbeckfonden Ventures, will join the Amplyx board of directors.
Milestone Pharmaceuticals Closes $55 Million Series C Financing
Montreal, QC, CA, August 1, 2017 – Milestone Pharmaceuticals Montreal, Canada, Inc., a clinical stage cardiovascular company, today announced the completion of a US$55 million Series C financing. The round was led by Novo Holdings A/S, and included new investors Forbion Capital Partners and funds managed by Tekla Capital Management, with significant participation from Milestone’s existing investors Domain Associates, Fonds de solidarité FTQ, BDC Capital, Pappas Capital, and GO Capital.
Kezar Life Sciences Announces Successful Completion of Phase 1a Study and Secures $50 Million in Series B Financing
South San Francisco, CA, July 25, 2017 – Kezar Life Sciences, a private, clinical-stage biopharmaceutical company developing novel small molecule therapeutics targeting the immunoproteasome and the protein secretion pathway, announced today that it has closed an oversubscribed Series B investment round of $50 million led by Cormorant Asset Management and Morningside Venture. New investors participating in the financing include Cowen Healthcare Investments, Pappas Capital, Chiesi Venture Fund, Qiming Venture Partners and Bay City Capital, joined by additional existing investors EcoR1 Capital, Omega Funds, and Aju IB Investment. Kezar has now raised a total of $73 million since its inception in 2015.
Kezar also announced the successful completion of the Company's Phase 1a healthy volunteer study with their lead drug candidate, KZR-616, a first-in-class selective immunoproteasome inhibitor. The placebo controlled study enrolled a total of eighty-two subjects, sixty-one of which received single or multiple
doses at varying dose levels. The trial identified multiple doses that resulted in desired levels of inhibition of the immunoproteasome and that were well tolerated with repeat dose administration. Additional results from the study are anticipated to be presented at the American College of Rheumatology's Annual
Meeting in San Diego in November.
Liquidia Technologies Announces Positive Phase 1 Data for LIQ865, Sustained-Delivery PRINT® Formulation of Bupivacaine for Post-Surgical Pain Relief
RESEARCH TRIANGLE PARK, NC – May 24, 2017 – Liquidia Technologies, Inc., today announced initial data from its LIQ865 internal clinical development program, which is a PRINT® formulation for the sustained-delivery of free base bupivacaine for post-surgical pain relief. The phase 1 trial, marking the first evaluation of LIQ865 in humans, was a randomized, controlled, double-blind study evaluating the safety, pharmacokinetic profile and pharmacodynamic response of a single-ascending dose in healthy adult males. Topline data indicate that LIQ865 doses were well tolerated and the pharmacodynamic response was consistent with a local anesthetic effect lasting for three or more days.
New Pappas Capital Fund Makes First Investment
Research Triangle Park, NC, May 24, 2017 – Pappas Capital, a life science venture capital firm, announced today that its new fund, Pappas Ventures V, recently invested in OrphoMed, a clinical stage company that is developing best-in-class therapies for treatment of inadequately-controlled gastrointestinal disorders. The investment in OrphoMed is the first investment by the new Pappas Ventures fund.
OrphoMed Secures $39 Million Series A Financing Round
San Francisco, CA, May 24, 2017 – OrphoMed, Inc., a clinical stage biopharmaceutical company developing first-in-class dimer therapies, today announced the completion of a $39 million Series A financing. The round was led by New Enterprise Associates (NEA), and co-led by existing seed investor Takeda Ventures, Inc., with participation from other prior investors: Pappas Capital, through its newest fund, Pappas Ventures V; Relativity Healthcare Partners and the Mario Family Fund. In conjunction with the financing, Frank Torti, MD, Partner at NEA, and Arthur Pappas, Managing Partner of Pappas Capital, will join the company’s board alongside existing directors Michael Martin, PhD, Global Head Takeda Ventures, Inc.; Kenneth Widder, MD, Executive Chairman; and Nikhilesh Singh, PhD, Chief Executive Officer. The capital will be used to advance the clinical development of OrphoMed’s lead candidate, ORP-101, for the treatment of irritable bowel syndrome with diarrhea (IBS-D).
