Date: 2015-02-04
Type of information: Company acquisition
Acquired company: Cytune Pharma (France)
Acquiring company: Sotio (Czech Republic) PPF Group (Czech Republic)
Amount: undisclosed
Terms: * On February 4, 2015, PPF Group has acquired a significant minority stake in Cytune Pharma, a French biotechnology company focused on researching and developing new therapies for immune modulation aimed at enhancing immune response of patients suffering from cancer and infectious diseases. Cytune’s platform based on modified IL-15 offers the possibility of combinations with other immunotherapeutic strategies, including checkpoint inhibitors.The acquisition confirms PPF’s focus on biotechnology as one of its key strategic areas of development. The parties to the agreement have agreed not to disclose the price and other details about the transaction.
Details: Cytune Pharma is a private company dedicated to the research and development of a portfolio of novel immunotherapeutic agents which expand and activate immune responses to treat advanced cancers. Cytune's proprietary lead product, CYP0150 (RLI), is a human fusion protein between IL-15 and the high-affinity binding site of IL-15Ra. Cytune is further developing different antibody-RLI conjugates. Cytune’s technology originally emanates from the Dr Yannick Jacques’s academic team at the Inserm unit U892 of Nantes, France. The company was founded in 2007. PPF is currently active in biotech sector through majority stake in Sotio and investment in Oribase Pharma, a biotechnology company focused on the development of new targeted therapies for aggressive oncology diseases. The group has committed to funding Cytune Pharma’s R&D activities related to its lead compound as well as to other developments based on its novel platform. “Our investment in Cytune Pharma further diversifies our portfolio of activities in oncology research and clinical development and creates potential synergies with the development programs of SOTIO and OriBase Pharma. We hope we will be able to help to bring the results of Cytune’s research to the clinical development stage and eventually to market in order to benefit patients suffering from such treacherous diseases,” said Ladislav Bartoní?ek, shareholder of PPF Group and the Board Member responsible for biotechnology. Sotio is currently developing therapies for the treatment of prostate cancer, ovarian cancer and lung cancer. Cytune Pharma’s research and development focuses on a broad portfolio of novel immunotherapeutic agents, primarily to treat cancer. Its cutting edge approach relies on a proprietary scientific breakthrough in immunology: a fusion protein mimicking the trans-presentation mechanism of IL-15 by the IL-15R chain, which can enhance anti-tumor immune responses.
Related: Cancer - Oncology Infectious diseases
