Touchstone Innovations PLC Innovations invests in Cell Medica funding round (6140Z)
March 16 2017 - 2:00AM
UK Regulatory
TIDMIVO
RNS Number : 6140Z
Touchstone Innovations PLC
16 March 2017
16 March 2017
Touchstone Innovations plc
Innovations invests GBP13.7m in GBP60.0m funding round in Cell
Medica
Touchstone Innovations plc (AIM: IVO, 'the Group',
'Innovations') has participated in a GBP60.0m funding round in Cell
Medica Limited ("Cell Medica" or "the Company") committing GBP13.7
million to the round alongside co-investors Invesco Asset
Management and Woodford Investment Management.
Cell Medica is a cellular therapeutics company engaged in the
development, manufacturing and marketing of cellular immunotherapy
products for the treatment of cancer. Cellular immunotherapy is a
novel form of medical treatment which has the potential to
transform the treatment of cancer in the years ahead. Cell Medica
is developing a range of cell-based immunotherapy products using
three proprietary technology platforms including activated
cytotoxic T cells, chimeric antigen receptors (CARs) and engineered
T cell receptors (TCRs).
The Company's lead oncology product (CMD-003) is an
investigational therapy in which the patient's T cells are
activated to kill malignant cells expressing EBV antigens. The
product is being investigated in the international open label Phase
II CITADEL clinical trial for patients with extranodal natural
killer T cell lymphoma (ENKTCL), a type of non-Hodgkin lymphoma.
Cell Medica has also opened the Phase II CIVIC clinical trial to
explore the potential benefits of CMD-003 for patients with
EBV-positive diffuse large cell lymphoma (DLBCL), Hodgkin lymphoma,
and post-transplant lymphoproliferative disease (PTLD).
As at 31 July 2016, the Group had a 25.5% interest in the issued
share capital of Cell Medica with such interest having a net fair
value of GBP28.5 million. Following this new investment Innovations
will hold a 24.5% stake in the issued share capital of the
Company.
Russ Cummings, CEO of Touchstone Innovations, said:
"The use of human T cell subset as therapeutics has the
potential to revolutionise the way cancer is treated and we are
delighted to be supporting Cell Medica in this round.
"Over the last six months or so Cell Medica has significantly
broadened its product portfolio through striking new partnerships
with Baylor College of Medicine and UCL, and through the
acquisition of Delenex Therapeutics. The business now has a
pipeline addressing both liquid and solid cancers and this new
funding will put it in a great position to drive forward these
development programmes."
For further information contact:
020 3053
Touchstone Innovations plc 8834
Russ Cummings, Chief Executive
Officer
Jon Davies, Director of Communications
020 7457
Instinctif Partners 2020
Adrian Duffield/Melanie Toyne-Sewell/Chantal
Woolcock
J.P. Morgan Cazenove (Nominated 020 7742
Adviser) 4000
Michael Wentworth-Stanley/Alec
Pratt
020 7653
RBC Capital Markets 4000
Darrell Uden/Marcus Jackson/Laura
White
About Touchstone Innovations - www.touchstoneinnovations.com
Touchstone Innovations plc (formerly Imperial Innovations Group
plc or just "Innovations") creates, builds and invests in
pioneering technology companies and licensing opportunities
developed from outstanding scientific research from the 'Golden
Triangle', the geographical region broadly bounded by London,
Cambridge and Oxford.
This area has an unrivalled cluster of outstanding academic
research and technology businesses, and is home to four of the
world's top 10 universities, as well as leading research
institutions, the cream of the UK's science and technology
businesses and many of its leading investors.
Innovations supports scientists and entrepreneurs in the
commercialisation of their ideas through protecting and licensing
out intellectual property (through its Technology Transfer
subsidiary, Imperial Innovations), by leading the formation of new
companies, by recruiting high calibre management teams and by
providing investment and encouraging co-investment. Innovations
remains an active investor over the life of its portfolio
companies, with the majority of Innovations' investment going into
businesses in which it is already a shareholder.
Since becoming a public company in 2006, Innovations has raised
more than GBP440 million of equity from investors, which has
enabled it to invest in some of the most exciting spin-outs to come
out of UK academic research. In addition, the Group has agreed
GBP80.0 million in loan facilities from the European Investment
Bank (EIB).
Between Innovations' admission to AIM (August 2006) and 31 July
2016, Innovations has invested a total of GBP306.7 million across
its portfolio companies, which have collectively raised investment
of GBP1.5 billion.
This information is provided by RNS
The company news service from the London Stock Exchange
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