Edmond de Rothschild Investment Partners participates in the CHF 18 Million Series B financing of OncoEthix with its new fund BioDiscovery 4

Edmond de Rothschild Investment Partners / Edmond de Rothschild Investment Partners participates in the CHF 18 Million Series B financing of OncoEthix with its new fund BioDiscovery 4 . Ad hoc announcement according to § 15 WpHG. Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement...

Paris, France - Edmond de Rothschild Investment Partners announces the third investment of BioDiscovery 4, its fourth fund dedicated to Life Sciences, through its participation in the Series B financing round of OncoEthix.

OncoEthix is a Swiss-based oncology drug development company founded in 2009. Edmond de Rothschild Investment Partners participated in the Series B financing round of CHF 18 million alongside SV Life Sciences and existing investors Index Ventures and Endeavour Vision.

The funds will be used for the clinical development of OTX015, a small molecule inhibitor targeting BET bromodomain proteins 2/3/4. The BET proteins are considered potential cancer targets because of their pivotal role in regulating the transcription of growth-promoting and cell cycle regulators, especially c-MYC. A two strata Phase 1 study in acute leukemia and other hematologic malignancies was started in January 2013.

Raphaël Wisniewski, Partner at Edmond de Rothschild Investment Partners, commented: "We are very excited that our new fund Biodiscovery 4 can support this promising company and that our Venture Partner Dr Thierry Hercend has been appointed as an industry expert to OncoEthix. OTX015 is one of the first molecules and likely the best, in the emerging class of BET bromodomain inhibitors. We have been impressed by the team's achievements to date and are confident that in their expert hands OTX015 has the potential to become a major drug in oncology."

Bertrand Damour, CEO of OncoEthix added: "We are delighted and very fortunate to have attracted Edmond de Rothschild Investment Partners as well as other blue-chip life science investors and we believe this financing will support an exciting next chapter in the development of OTX015."

About Edmond de Rothschild Investment Partners
Paris-based Edmond de Rothschild Investment Partners is dedicated to minority investments into privately-owned companies. It currently has close to EUR1 billion under management which is being invested primarily as life sciences venture capital and growth capital.

Its Life Sciences Team of eight professionals brings together over 60 years of experience in the Life Science industry and more than 100 years of private equity and venture capital experience. The team has EUR355 million under management through its Biodiscovery franchise.

BioDiscovery Funds, including BioDiscovery 4, are venture capital funds registered via the fast-track procedure. These funds are not authorized by the Autorité des Marchés Financiers and may adopt special investment rules. BioDiscovery 4, a Venture Capital Fund registered via the fast-track procedure, invests mainly in private companies, which involves specific risks such as a risk of capital loss, a discretionary management risk and a liquidity risk.

Edmond de Rothschild Investment Partners is the private equity affiliate of the Edmond de Rothschild Group, which is specialised in asset management and private banking (EUR 130bn under management, 2,900 employees and 30 offices throughout the world). Founded in 1953, the Group has been chaired since 1997 by Baron Benjamin de Rothschild.

About OncoEthix
Founded in 2009, OncoEthix is a Swiss-based privately held biotechnology Company that is developing a small portfolio of oncology drug candidates. The Company's lead product OTX015, is an orally administered synthetic small molecule targeted to BET bromodomain proteins 2/3/4. OTX015 was in-licensed from Mitsubishi Tanabe Pharma Corporation in March 2012 following completion of Phase I clinical studies in healthy volunteers.

OncoEthix has raised a total of 28 Million CHF (~US$30 Million) in venture capital to date: investors include Index Ventures, Endeavour Vision, SV Life Sciences and Edmond de Rothschild Investment Partners.  

For further information, please visit www.oncoethix.com

 

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