Business Wire

Cycle Pharmaceuticals Secures $25 Million Debt Financing

Share

Cycle Pharmaceuticals, a privately-owned, global, patient-dedicated biotechnology company focused on developing and delivering medicines for rare diseases, today announced that it has executed a definitive agreement for a $25 million credit facility with Deutsche Bank AG. This strategic financing allows Cycle to build on the success of NITYR® (nitisinone) Tablets, which treats patients with the rare genetic metabolic disease, hereditary tyrosinemia type 1. Cycle’s mission is to utilise the latest pharmaceutical technologies to deliver best-in-class drug treatments to better serve rare genetic disease patients.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200906005026/en/

Antonio Benedetti, Chief Executive Officer of Cycle Pharmaceuticals, stated: “Cycle’s agreement with Deutsche Bank provides us with the capital to swiftly and efficiently deliver drug treatments for many genetic rare disease patient groups that urgently need the quality-of-life improvements that the latest pharmaceutical technologies can offer. Cycle also provides individualised patient support services alongside its drug treatments to ensure that a rare disease patient’s needs are met to the greatest extent possible.”

Dimitrios Weedon of Deutsche Bank commented: “This transaction demonstrates Deutsche Bank’s ongoing commitment to supporting innovative and growing businesses. In particular, it exhibits our ability and appetite to provide bespoke financing solutions in the life sciences and biotechnology space. We are delighted to become a key financing partner for Cycle Pharmaceuticals and look forward to working closely with the company in the future.”

Separately, Varsity Pharmaceuticals is incorporated as an independent business, receiving financing from the above transaction. Varsity’s mission is to develop and deliver oncology drug treatments focused on resolving the emerging resistance to PARP inhibitors and other existing drug classes. Varsity uses synthetic lethality approaches and builds on intellectual property developed at the Chemistry Department, University of Cambridge and licensed by Cambridge Enterprise to Varsity. Further pre-clinical work will commence shortly in collaboration with the Cancer Research UK Cambridge Institute, University of Cambridge.

About Cycle Pharmaceuticals

Cycle Pharmaceuticals was founded in 2012 with the sole aim of delivering best-in-class drug treatments and services to the under-served rare disease patient community. We focus on rare genetic metabolic disorders and neurological conditions. Cycle is headquartered in Cambridge, UK and has offices in Boston, Mass. (USA). For more information, please visit www.cyclepharma.com and follow us on Twitter, LinkedIn, Facebook and Instagram.

About Cambridge Enterprise

Part of the University of Cambridge, Cambridge Enterprise supports academics, researchers, staff and students in achieving knowledge transfer and research impact. We do this by helping innovators, experts and entrepreneurs use commercial avenues to develop their ideas and expertise for the benefit of society, the economy, themselves and the University.

Liaising with organisations both locally and globally, we offer expert advice and support in commercialisation and social enterprise, including help with academic consultancy services, the protection, development and licensing of ideas, new company and social enterprise creation, and seed funding. For more information, please visit: www.enterprise.cam.ac.uk and follow us on Twitter and LinkedIn.

About The Cancer Research UK Cambridge Institute

The Cancer Research UK Cambridge Institute combines basic and clinical research with innovative technologies to address key questions in the diagnosis and treatment of cancer. As one of the largest cancer research facilities in Europe, we provide an unrivalled biomedical research environment, bringing together the world-class science of the University of Cambridge with clinical and industrial partners at the Cambridge Biomedical Campus. Our research focuses on tumour ecology and evolution, ranging from basic experimental and computational biology through translational cancer research to clinical application. For more information, please visit: www.cruk.cam.ac.uk and follow us on Twitter, LinkedIn, YouTube and Facebook

Contact information

Cycle Pharmaceuticals
Paula Bekinschtein, Head of Global Marketing
Email: marketing@cyclepharma.com
Tel.: +44-1223-354118

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Takeda Presents New Data Highlighting Scientific Advancements in Lung Cancer at ESMO Virtual Congress18.9.2020 13:55:00 EESTPress release

Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced that the company is presenting data from its lung cancer portfolio at the virtual European Society for Medical Oncology (ESMO) conference. Notably, insights from sub-analyses of the Phase 3 ALTA 1L study reinforce both the compelling evidence of intracranial efficacy with ALUNBRIG® (brigatinib) as a first-line treatment for patients with anaplastic lymphoma kinase-positive (ALK+) non-small cell lung cancer (NSCLC) as well as associated quality of life (QoL) data. Takeda is also featuring updated 10-month follow-up results from the Phase 1/2 trial of mobocertinib (TAK-788), demonstrating mobocertinib achieved a duration of response (DoR) of more than one year in the trial’s study population of patients with epidermal growth factor receptor (EGFR) Exon20 insertion+ metastatic NSCLC (mNSCLC). “We’re pleased to present our ongoing research in lung cancer at this year’s virtual ESMO congress, including new

Incyte Announces Encouraging Results From Phase 2 Trial of Retifanlimab (INCMGA0012) in Patients With Previously Treated, Advanced Squamous Cell Carcinoma of the Anal Canal18.9.2020 13:00:00 EESTPress release

Incyte (Nasdaq:INCY) today announced results from its Phase 2 POD1UM-202 trial evaluating retifanlimab, a PD-1 inhibitor, in previously treated patients with advanced squamous cell carcinoma of the anal canal (SCAC) who have progressed following standard platinum-based chemotherapy. The trial enrolled 94 patients, including those with well-controlled human immunodeficiency virus (HIV) infection (10%). Retifanlimab monotherapy resulted in a confirmed objective response rate (ORR) of 14% as determined by independent central review (ICR) using RECIST v1.1. Responses were observed regardless of PD-L1 status, presence of liver metastases, age or HIV+ status. Retifanlimab was generally well-tolerated with a safety profile as expected of a PD-1 inhibitor and no loss of HIV infection control. Key findings from POD1UM-202: N=94 ORR* (95% CI) 13.8% (7.6-22.5) Best OR*, n 1 CR 12 PR 33 SD DCR 48.9% DOR, median (95% CI), months 9.5 (5.6-NE) PFS, median (95% CI), months 2.3 (1.9-3.6) OS, median (95

Sigfox and Cube Infrastructure Managers Announce Major Partnership in IoT Infrastructure18.9.2020 10:30:00 EESTPress release

Sigfox, the global 0G network1 and cloud provider for industrial data, is proud to announce a new strategic alliance with Cube Infrastructure Managers (Cube), through the sale of its German 0G network to Cube. Sigfox has grown its 0G IoT services by rolling out 0G networks across 72 countries and regions, which was largely achieved with partners called Sigfox Operators. These operators are the owners of the 0G networks, which they operate as exclusive connectivity providers of Sigfox IoT services, offering worldwide connectivity to customers. The sale of the German network to Cube will allow Sigfox to finance its continued innovation efforts in data value extraction and improvements in cloud algorithms to reduce energy consumption and allow the implementation of even more cost-effective devices and sensors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200918005116/en/ Cube Infrastructure Managers, the European infrastructu

Sensorion successfully raises approximately €31 (US$ 36.5) million in an oversubscribed private placement to US and European investors18.9.2020 09:00:00 EESTPress release

Regulatory News: Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan. This press release is not intended as an offer and is for informational purpose only Sensorion (Paris:ALSEN) (FR0012596468 – ALSEN – the “Company”) a pioneering clinical-stage biotechnology company which specializes in the development of novel therapies to restore, treat and prevent within the field of hearing loss disorders announces today the success of its previously announced capital increase. The Company has placed 18,236,000 new ordinary shares with a nominal value of €0.10 each (the “New Shares”), for total gross proceeds of approximately € 31 million by means of an accelerated bookbuild offering to the benefit of categories of persons (the “Reserved Offering”). The issue price of the New Shares is €1.70 per share, representing a 3.5% discount to the weighted average share price on the day preceding the date on which the issuance price

ESMO 2020: Phase II CLARINET FORTE Results Show Increasing Dose Frequencies of Somatuline® Autogel® (lanreotide) Allows Patients with NETs to Delay Treatment Escalation by up to 8.3 Months18.9.2020 08:00:00 EESTPress release

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) today announced the release of first efficacy and safety data from the CLARINET FORTE study, with the abstract to be presented as a mini-oral presentation at the 2020 European Society for Medical Oncology (ESMO) Congress, taking place virtually from 19-21 September 2020. The prospective single-arm, open-label, exploratory, international Phase II study investigated the efficacy and safety of increasing the dose frequency of Somatuline® Autogel ® (lanreotide) in patients with pancreatic or midgut NETs with centrally-assessed progression within the last two years while on a standard lanreotide regimen for ≥24 weeks. An extension of progression-free survival (PFS) rates and encouraging disease-control rates (DCR) were recorded in both tumor types, with no new safety signals. “These results support a clinically meaningful benefit to a population of patients with high unmet medical need by potentially delaying escalation to more toxic treatm

Vifor Pharma Group Announces Successful Sale of OM Pharma18.9.2020 08:00:00 EESTPress release

Regulatory News: Vifor Pharma has today announced the successful sale of 100% of the share capital of OM Pharma, a Vifor Pharma Group company to Optimus Holding Ltd. The terms of the deal include: A purchase consideration of MCHF 435 for 100% of the share capital An earn out related to potential future value gains on 20% of Optimus Holding Ltd. equity to be determined before the end of 2027 upon a trade sale, IPO or EBITDA multiple This earn out together with the purchase consideration could result in a total transaction value exceeding MCHF 500. The deal is expected to close within 30 days. OM Pharma is a Geneva-based company mainly active in the field of microbial derived immunotherapeutics and has developed strongly outside the core strategy of Vifor Pharma over the past few years. Optimus Holding Ltd. is a Swiss Group, founded by Etienne Jornod together with long-standing Swiss entrepreneurs and Abdi Ibrahim (28.5%), a Turkey-based pharmaceutical company operating in 12 countries a

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom