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Edmond de Rothschild Investment Partners participates in the CHF 18 Million Series B financing of OncoEthix with its new fund BioDiscovery 4
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:
Bertrand Damour, CEO of OncoEthix added:
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.
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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