Pappas Capital In The News.
Check here for news about the latest breakthroughs, successes and innovations made possible by Pappas Capital, our portfolio companies and other partners.
July 17, 2018
Former Pappas Portfolio Company CEO Retracts Anonymous Allegations
RESEARCH TRIANGLE PARK, N.C., July 17, 2018 /PRNewswire/— Pappas Capital announced today that former Chimerix CEO Kenneth Ian Moch has retracted allegations of financial malfeasance that he made, anonymously, against two of the firm’s senior executives. In the retraction letter, Mr. Moch acknowledged that “the statements that I made in the emails were false and it was wrong for me to send them.” He also retracted all other disparaging statements that he made about Pappas Capital over the course of litigation that extended over more than two years.
June 20, 2018
Kezar Life Sciences Announces Pricing of Initial Public Offering
SOUTH SAN FRANCISCO, CA — June 20, 2018 — Kezar Life Sciences, Inc. (Nasdaq:KZR), a clinical-stage biotechnology company discovering and developing novel small molecule therapeutics to treat unmet needs in autoimmunity and cancer, announced today that it has priced its initial public offering of 5,000,000 shares of its common stock at a public offering price of $15.00 per share. The gross proceeds to Kezar, before deducting underwriting discounts, commissions and offering expenses, is expected to be approximately $75 million. All of the common stock is being offered by Kezar. In addition, Kezar has granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock to cover over-allotments, if any, at the initial public offering price, less the underwriting discounts and commissions. The common stock are expected to begin trading on The Nasdaq Global Select Market on June 21, 2018 under the trading symbol “KZR.” The offering is expected to close on June 25, 2018, subject to customary closing conditions.
June 17, 2018
Aura Biosciences Announces Update of Clinical Safety and Efficacy Data on Lead Candidate AU-011 for Choroidal Melanoma
CAMBRIDGE, MA — June 17, 2018 — Aura Biosciences, a biotechnology company developing a new class of therapies to target and selectively destroy cancer cells using viral capsid conjugates, today announced new interim safety and efficacy data from an open-label Phase 1b/2 study of its lead program, light-activated AU-011 for the treatment of primary choroidal melanoma. The findings were presented by Ivana Kim, M.D., Co-Director of the Ocular Melanoma Center at Massachusetts Eye and Ear, at the 2018 World Ophthalmology Congress in Barcelona.
April 10, 2018
Former CoLucid CEO Thomas P. Mathers joins Pappas Capital as Partner
RESEARCH TRIANGLE PARK, N.C., April 10, 2018 /PRNewswire/ — Pappas Capital announced today that Thomas P. “Tom” Mathers has joined the firm as a partner. Mathers previously served as CEO of CoLucid Pharmaceuticals (NASDAQ: CLCD), a Pappas Capital portfolio company that was acquired in early 2017 by Eli Lilly & Company for nearly $1 billion. In joining Pappas, Mathers’ initial mandate will be to spearhead the formation of a new biopharmaceutical company that is expected to be backed by Pappas and other venture capital investors. In addition to launching the new company, he will source new deals, assist in evaluating prospective investment opportunities and provide expertise and oversight to Pappas portfolio companies. He will be based in Boston.
January 3, 2018
Pappas Capital Names Kyle Rasbach as Partner
RESEARCH TRIANGLE PARK, N.C., Jan. 3, 2018 /PRNewswire/ — Pappas Capital announced today that Kyle Rasbach, PhD, PharmD has joined the firm as a partner. Dr. Rasbach was previously a Vice President with T. Rowe Price, where he was an equity research analyst responsible for pharmaceutical, specialty pharmaceutical and biotechnology investments for funds managed by T. Rowe Price, a global asset management firm. He is expected to play a key role in the investment of Pappas Capital’s most recent fund, Pappas Ventures V, which made its initial investment last May and has invested so far in Amplyx Pharmaceuticals, Kezar Life Sciences, Reneo Pharmaceuticals and OrphoMed.
December 21, 2017
Aura Biosciences Completes $30 Million Series C Financing
Cambridge, MA — December 21, 2017 — Aura Biosciences, a biotechnology company developing a new class of therapies to target and selectively destroy cancer cells using viral nanoparticle conjugates, announced today that it closed a $30 million Series C financing. New investors Lundbeckfonden Ventures and Arix Bioscience plc led the round, with all current investors also participating. Existing investors include Advent Life Sciences, Chiesi Ventures, Ysios Capital, Alexandria Venture Investments, Columbus Venture Partners, LI-COR Biosciences and several individual investors, including the estate of Henri Termeer.
July 25, 2017
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.
May 24, 2017
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.
April 4, 2017
Sentien Biotechnologies, Inc. Announces $12 million Series A Financing
Cambridge, MA – April 4, 2017 – Sentien Biotechnologies, Inc., a clinical-stage biotechnology company developing novel approaches to cell therapy, announced today that it has closed a $12 million Series A investment round. The financing was co-led by Boehringer Ingelheim Venture Fund USA, Inc. (BIVF USA) and BioInnovation Capital, and joined by Chiesi Ventures, MBL Venture Capital Co., Ltd, and Mass Medical Angels. The Series A round will be used to fund initial clinical development of Sentien’s SBI- 101 for the treatment of acute kidney injury (AKI).
March 30, 2017
Aura Biosciences Announces Initiation of Phase 1b Clinical Trial and Receipt of FDA Fast Track Designation for AU-011 for the Treatment of Primary Ocular Melanoma
Cambridge, MA – March 30, 2017 – Aura Biosciences, a biotechnology company developing a new class of therapies to target and selectively destroy cancer cells using viral nanoparticle conjugates, announced today that it has enrolled and dosed the first patient in its Phase 1b clinical trial of light-activated AU-011, an investigational, first-in-class targeted therapy in development for the treatment of ocular melanoma, a rare and life-threatening disease. Aura additionally announced today that the U.S. Food and Drug Administration (FDA) has granted AU-011 fast track designation for the treatment of primary ocular melanoma, also known as uveal or choroidal melanoma. This designation enables Aura to have more frequent interactions with the FDA throughout AU-011’s drug development process, as well as priority review of the New Drug Application (NDA). Fast track designation is granted to drugs that are for serious or life-threatening diseases and that the FDA believes demonstrate the potential to address unmet medical needs.
February 6, 2017
Aura Biosciences Receives FDA Clearance of Investigational New Drug Application for Light-activated AU-011 for the Treatment of Ocular Melanoma
Cambridge, MA – February 6, 2017 – Aura Biosciences, a biotechnology company developing a new class of therapies to target and selectively destroy cancer cells using viral nanoparticle conjugates, announced today that the U.S. Food and Drug Administration (FDA) has cleared the investigational new drug application (IND) for the company’s lead program, light-activated AU-011 in ocular melanoma (OM). This active IND enables Aura to begin initial clinical testing of AU-011, a unique targeted therapy that could transform the primary treatment of patients with OM, a rare and life-threatening disease.
January 31, 2017
Chondrial Therapeutics Secures Up to $22.6 Million in Series A Financing and Licenses Novel Technology for the Treatment of Friedreich’s Ataxia
Bala Cynwyd, PA – January 31, 2017 – Chondrial Therapeutics, Inc., an emerging biotechnology company focused on the treatment of rare mitochondrial diseases, announced today that it has secured up to $22.6 million in Series A financing led by Deerfield Management and has appointed Carole Ben-Maimon, MD, as the company’s president and chief executive officer. Concurrently, Chondrial announced the licensing of a novel investigational technology, CTI-1601, for the treatment of Friedreich’s Ataxia from Indiana University Research and Technology Corp. (IURTC) and Wake Forest University Health Sciences. CTI-1601 was invented by R. Mark Payne, MD, professor of Pediatric Cardiology at Indiana University School of Medicine and director of the Translational Research Training Program of Indiana Clinical Translational Sciences Institute.
January 11, 2017
Pappas Capital and Wake Forest Innovations Announce First Investments by the Catalyst Fund
Winston-Salem, NC – January 11, 2017 – Pappas Capital and Wake Forest Innovations today announced the first technologies to receive initial investment from the Catalyst Fund, the $15 million technology development program established by Wake Forest Baptist Medical Center in October 2015.
November 16, 2016
Glycomine, Inc. Announces $12 Million Series A Financing
San Francisco, CA – November 16, 2016 – Glycomine, Inc. a biotechnology company developing a new generation of replacement therapies for rare diseases, today announced that it has raised $12 million in a Series A financing led by Sanderling Ventures and supported by Chiesi Ventures as well as existing high net worth individuals and patients. Glycomine will use the proceeds from this financing to complete IND enabling pre-clinical studies and initiate clinical studies of its substrate replacement therapy in patients with Congenital Disorder of Glycosylation Type Ia (CDG-Ia), and to accelerate discovery efforts towards an enzyme replacement therapy for N-glycanase deficiency (Ngly1).
October 14, 2015
Minoryx Therapeutics completes Series A funding of €19.4M ($21.7M)
Mataró, Barcelona, Spain – October 14, 2015 – Minoryx Therapeutics, a drug development company specialized in the discovery of new drugs for orphan diseases, today announces it has completed a Series A funding round of €19.4M ($21.7M). Ysios Capital, a Spanish investment fund, led the round. The fundraising was also supported by a substantial syndicate of new investors including Kurma Partners, Roche Venture Fund, Idinvest Partners and Chiesi Ventures. Existing investors Caixa Capital Risc, the venture capital division of ‘la Caixa’ and HealthEquity also participated in the round.
October 7, 2015
Wake Forest Baptist Medical Center Creates $15 Million Program to Develop Life Science Technologies
Winston-Salem, NC – October 7, 2015 – Wake Forest Baptist Medical Center today announced the creation of a Technology Development Program, a $15 million program to develop the ideas, discoveries and inventions of the faculty and staff of the Medical Center into life science technologies having the potential to benefit patients in the community and worldwide.
The new program is in partnership with leading life science investment firm Pappas Capital, in Durham. Funds will be managed by Pappas in collaboration with Wake Forest Innovations to advance clinically important life science technologies for licensing to established companies or startups.
September 24, 2015
Intarcia Therapeutics Announces Acquisition of Phoundry Pharmaceuticals
Boston, MA – September 24, 2015 – Intarcia Therapeutics, Inc. today announced the acquisition of Phoundry Pharmaceuticals, Inc., a privately held biotechnology company based in Research Triangle Park, North Carolina. Founded in 2015 after six years of work as part of the Enteroendocrine Discovery Performance Unit of GlaxoSmithKline, Phoundry Pharmaceuticals has created a portfolio of optimized peptides in various therapeutic categories, most notably diabetes and obesity.
Phoundry enhances Intarcia’s internal efforts to build upon the differentiated clinical success of its Phase 3 investigational therapy, ITCA 650, the first injection-free GLP-1 therapy with the potential to deliver up to a full year of treatment from a single placement.
August 18, 2015
New Peptide Company Phoundry Closes Seed Funding
Research Triangle Park, NC – August 18, 2015 – Phoundry Pharmaceuticals, Inc., an RTP, North Carolina–based company focusing on the discovery of peptide therapeutics, announced today that it has successfully completed its first seed financing, putting it in position to advance its discovery and partnering plans.
March 5, 2015
Chiesi Ventures invests in Aura Bioscience
Cambridge, MA – March 5, 2015 – Aura Biosciences, a biotech company developing highly tumor-targeted breakthrough therapies for rare cancers, has secured a $21M Series B round of funding. The financing was led by Advent Life Sciences, with participation from new investors, Chiesi Ventures, Ysios Capital, and Alexandria Venture Investments. Existing investors, including LI-COR Biosciences…