Led · Equity · Oct 2018

Novaliq develops and commercializes ocular therapeutics built on EyeSol®, the world’s first water-free technology for ophthalmology. Its lead late-stage assets are CyclASol® (an anti-inflammatory and immunomodulating drug in the pivotal phase 2b/3 ESSENCE trial) and NOV03 (a first-in-class treatment for evaporative dry eye disease associated with meibomian gland dysfunction, in the phase 2 SEECASE trial with more than 300 patients). Both products target different dry eye disease patient groups and are estimated to have global peak sales well above USD 2 billion. Novaliq also markets NovaTears® (sold as EvoTears® in Europe) and maintains earlier pipeline programs for glaucoma and retinal diseases. The company is headquartered in Heidelberg, Germany, with an office in Cambridge, MA. Proceeds from the financing will be used to fund clinical development, prepare commercialization of CyclASol® and NOV03, and advance earlier pipeline programs. The long-term shareholder and lead investor is dievini Hopp BioTech Holding. Novaliq develops ocular formulations using patented semifluorinated alkanes (SFAs) and its EyeSol™ technology to deliver preservative-free topical eye drops. Its lead prescription candidate, CyclASol, is presented as the first cyclosporine A solution for dry eye disease. The company’s strategy is to build a portfolio of consumer and prescription products targeting evaporative dry eye, emphasizing preservative-free, surfactant-free multidose formulations for improved tolerability. Novaliq also pursues other product candidates and solutions for organ preservation, leveraging SFAs’ properties for drug and oxygen transport across routes of administration. The company plans to advance lead projects into the medical device field for approval, progress CyclASol into clinical development, and extend its technology platform. Novaliq is headquartered in Heidelberg, Germany.

Participated · Series E · Oct 2017

Immatics, based near Munich, develops T-cell receptor (TCR) therapies and a variety of oncology product candidates, including bispecific antibodies. Its core approach uses in-house technology to generate TCRs that can recognize intracellular tumor proteins rather than cell-surface antigens targeted by CAR-Ts. TCRs can be HLA-matched, which limits use to patients with specific genetic profiles. Under a recently announced deal, Immatics will advance TCR candidates through lead-candidate validation before potential handoff. Financially, the company received a $75 million investment from Celgene as part of that partnership. No TCRs have regulatory approval today, and Immatics is positioning its pipeline toward solid-tumor indications. Immatics is a Tuebingen, Germany-based cancer immunotherapy company developing T-cell–based therapies. Its core products are adoptive cell therapies, including IMA101 (an ACTolog® endogenous T-cell therapy) and IMA201 (an ACTengine® approach using transduced exogenous T-cell receptors). The company is also developing a pipeline of bispecific TCR candidates aimed at redirecting and activating T-cell responses against tumor-specific targets. Immatics uses its XPRESIDENT® technology to identify and validate novel tumor targets for cancer immunotherapy. Led by Chairman Peter Chambré, the company is advancing multiple candidates in clinical trials and plans to continue development efforts. It recently closed a $58m Series E financing to fund those advancement efforts, with backing from dievini Hopp Biotech holding, Wellington Partners, AT Impf GmbH and Amgen. immatics biotechnologies is a clinical-stage biopharmaceutical company developing advanced immunotherapies active against cancer. Its lead product, IMA901, is in a pivotal phase 3 study in patients with renal cell carcinoma after completing a randomized phase 2 trial. The pipeline also includes IMA910, which has reported survival data in patients with advanced colorectal cancer, and IMA950, which completed a phase 1 study in patients with glioma. The company will use the recent funding to complete the current phase 3 trial with IMA901. immatics is led by CEO Paul Higham and employs approximately 80 people. The company is based in Tuebingen and Martinsried (Munich), Germany. immatics is a clinical-stage biopharmaceutical company focused on developing advanced multi-peptide cancer vaccines. Its lead candidate, IMA901, comprises 10 tumor-associated peptides (TUMAPs) found to be highly over-expressed in the majority of renal cell carcinoma (RCC) patients and is in a pivotal phase 3 trial. IMA901 holds orphan drug designation in the US and Europe for treatment of RCC in HLA-A*02 positive patients. The company raised the first €12m tranche of a planned €34m Series D to conclude development of IMA901 and complete activities necessary to prepare for regulatory filings in the US and Europe. Interim overall survival results are expected in 2014, with final data in 2015. immatics is led by CEO Paul Higham, is based in Tuebingen and Martinsried (Munich), Germany, and employs 70 people. immatics biotechnologies is a biopharmaceutical company based in Tuebingen and Munich, Germany, developing advanced therapeutic vaccines active against cancer. Its lead product, IMA901, is a rationally designed cancer vaccine comprised of 10 different tumor-associated peptides (TUMAPs) frequently over‑expressed in renal cell carcinoma (RCC). immatics plans to perform a Phase III pivotal trial of IMA901 after data that demonstrated potential overall survival benefit in patients with advanced RCC. The company is also continuing clinical development of IMA910, which is currently being evaluated in a Phase II clinical study. immatics’ pipeline has been developed using its XPRESIDENT™ technology. The new funds will be used to advance the existing pipeline. To date the company has raised more than €100m (approximately US$130m).

Led · Equity · Nov 2015

Molecular Health provides a cloud-based healthcare decision engine that integrates molecular and medical data into a comprehensive biomedical data warehouse and delivers individualized analysis for evidence-based targeted therapy identification. Its platform interprets vast biomedical information to generate actionable insights aimed at improving clinical decision making and therapy development. The company says it has the first registered medical device of its kind in Europe for personalized cancer medicine. Molecular Health operates with headquarters in Boston, MA and a parent presence in Heidelberg, Germany, and maintains a laboratory and support center in Greater Houston, TX. The company plans to expand commercial infrastructure and drive broader adoption of its solutions to enable personalized treatment and more efficient therapy development. With this financing the company reports total capital raised to be approximately €100 million.

Participated · Equity · Nov 2015

CureVac develops medicines and vaccines using an optimized mRNA technology platform (RNAoptimizer) that aims to tailor protein design, mRNA optimization and mRNA delivery. The company is advancing prophylactic vaccines and mRNA-based therapeutics across infectious diseases, oncology and rare diseases. CureVac reported a Phase 1 clinical trial start for its SARS-CoV-2 vaccine candidate CVnCoV in June. The firm is investing in industrial-scale GMP production and is completing a fourth production site in Tübingen, Germany to expand manufacturing capacity. Headquartered in Tübingen, CureVac also has sites in Frankfurt and Boston. The EIB loan will support both clinical development and accelerated completion of the new production facility. CureVac AG is a Tübingen-based developer of drugs based on messenger RNA (mRNA) technology. Its proprietary platform uses mRNA as a data carrier to instruct the body to produce proteins; its programs include mRNA-based cancer immunotherapies, prophylactic vaccines against infectious diseases, molecular therapies to trigger production of therapeutic proteins, prolonged expression of functional antibodies and antibody-like proteins from mRNA, and an RNA-based adjuvant to enhance immunogenicity. The company was founded in 2000 as a spin-off from the University of Tübingen by Ingmar Hoerr, PhD, who is listed as CEO. CureVac has entered collaborations with Boehringer Ingelheim, Sanofi Pasteur, the Bill & Melinda Gates Foundation and IAVI. It has raised approximately $360M since inception and secured $29.5M in the financing announced in November 2016. The company intends to use the new funds to advance development of its mRNA product portfolio. CureVac is a clinical-stage biopharmaceutical company pioneering mRNA-based technologies to instruct the body to produce therapeutic proteins. The company focuses on natural, chemically unmodified mRNA product candidates including cancer immunotherapies, prophylactic vaccines (RNActive®), molecular therapies (RNArt®) and RNA-encoded antibodies (RNAntibody®). Its most advanced candidate, CV9104, is in Phase IIb for prostate cancer; other clinical programs include non-small cell lung cancer (partnered with Boehringer Ingelheim) and rabies, with additional programs targeting HIV, rotavirus, RSV and tuberculosis. CureVac will use the proceeds to further develop its clinical pipeline and to expand its proprietary mRNA platform technology. The company raised about $110M (€100m) in the reported round, bringing total capital to roughly $220M since founding in 2000. CureVac changed its corporate legal form from a GmbH to an AG to facilitate further international growth. CureVac develops a new class of therapies and vaccines based on mRNA, using its RNActive® therapeutic vaccine platform and RNAdjuvant long non-coding RNA adjuvants. The company is advancing two lead RNActive cancer vaccines targeting prostate cancer and non-small cell lung cancer (NSCLC). It has completed Phase 1/2a studies with its RNActive cancer vaccines in prostate cancer and NSCLC. CureVac also develops prophylactic vaccines and adjuvants for infectious diseases and collaborates with partners on development programs. Leadership includes CEO Ingmar Hoerr, Ph.D., and board chairman Friedrich von Bohlen, Ph.D. The company is based in Tübingen, Germany. CureVac GmbH develops RNActive® therapeutic vaccines targeting solid tumours and prophylactic vaccines against infectious diseases. Its lead therapeutic, CV9103 for prostate cancer, is in a Phase IIa trial with results expected in the second half of 2010. The company is also developing CV9201, an mRNA vaccine candidate for non-small cell lung cancer currently in Phase I. The recent financing will support further clinical development of the RNActive platform and accelerate preclinical and clinical work on prophylactic candidates. CureVac is a spin-off from Tübingen University and is based in Tübingen, Germany. Since its foundation the company has raised a total of €65m (US$83m).

Participated · Series A · Oct 2009

Integrated Diagnostics (Indi) develops molecular diagnostic tests and is advancing Xpresys Lung 2, a blood-based assay intended to help physicians identify benign patients with low- to moderate-risk lung nodules. The company was co-founded in October 2009 and is led by CEO Albert A. Luderer, Ph.D., and president and CSO Paul Kearney, Ph.D. Xpresys Lung 2 targets indeterminate nodules 8–30 mm in diameter and is intended to be performed early in a patient’s work-up before invasive diagnostic procedures. The test requires a blood sample that is analyzed at Indi’s Seattle laboratory, which is CLIA licensed and accredited by the College of American Pathologists. Indi reported a Series C financing in 2017, indicating continued capital support for its clinical and commercial development. The company’s near-term focus appears to be clinical validation and deployment of Xpresys Lung 2 through its certified laboratory. Indi develops blood-based proteomic molecular diagnostics, with a platform used to create tests such as Xpresys Lung. Its first product, Xpresys Lung, is a blood test designed to help physicians manage indeterminate lung nodules and launched in late 2013. The company was co-founded in October 2009 by Dr. Lee Hood and is led by CEO Albert A. Luderer, Ph.D. Indi plans to use the recent financing to further commercialize Xpresys and to develop additional proteomic blood tests on its platform. The company raised a mix of equity and non-dilutive debt to support commercialization and product development. Michael Liang, Ph.D., partner at Baird Capital, joined Indi’s board as part of the financing. Integrated Diagnostics develops large-scale, blood-based molecular diagnostics aimed at detecting diseases such as lung cancer and Alzheimer’s at their earliest stages by simultaneously monitoring tens to hundreds of disease markers. Its technology is based on Dr. Lee Hood’s research at The Institute for Systems Biology, and foundational intellectual property is exclusively licensed from the Institute for Systems Biology and Caltech. The company is advancing in vitro proteomic-based diagnostics programs and a novel class of molecules—protein-catalyzed capture agents (PCCs)—for use in in vivo molecular imaging and therapeutics. It plans to use the latest financing to complete clinical development of its in vitro programs and to prepare them for commercialization, as well as to advance PCC development. Founded in October 2009, the company is led by CEO Albert "Al" A. Luderer, Ph.D., and recently appointed Donald "Guy" Seaton as CFO and James "Jim" Garner as CBO. Integrated Diagnostics develops personalized blood-based diagnostics using genomic and proteomic techniques to identify organ-specific blood proteins that appear at the earliest stages of disease. Its core programs are blood-based proteomic assays aimed at early detection. The company intends to advance the development, validation and commercialization of these diagnostics. Integrated Diagnostics is based in Seattle, WA. Financially, the company completed a $30m Series A in September 2009 and has raised an additional $10m second tranche of that Series A. The new funding is directed toward advancing development, validation and commercialization of its proteomic diagnostics programs. Integrated Diagnostics is a newly formed Seattle, WA-based biotechnology company founded by Dr. Leroy Hood. The company will focus on developing diagnostic tools to help patients and physicians detect disease in its earliest stages. It is the first commercial enterprise to emerge from a $200m public–private partnership launched in 2008 between the Grand Duchy of Luxembourg and three American research institutions, including ISB. Integrated Diagnostics raised $30m in a Series A financing led by InterWest Partners, with participation from The Wellcome Trust and dievini Hopp Biotech holding. dievini’s participation is part of a collaboration with the Grand Duchy of Luxembourg, which plans to join the investor group in the future. The financing was announced in an official statement on October 14, 2009.