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Sofinnova Partners Invests in Twentyeight-Seven Therapeutics

May 9, 2019 Off By BusinessWire

Top European VC leads 28-7’s Series A extension with $15 million and
brings financing to over $80 million

PARIS–(BUSINESS WIRE)–Sofinnova Partners, a leading European venture capital firm specialized
in the life sciences, today announced that the firm led
Twentyeight-Seven Therapeutics, Inc’s [28-7] Series A extension with a
$15 million investment. In addition to Sofinnova Partners, Osage
University Partners (OUP) participated in the Series A extension
bringing the total Series A financing to $82.75 million. Sofinnova
Partners and OUP join the initial 28-7 investors that include MPM
Capital, Novartis Venture Fund, Johnson & Johnson Innovation – JJDC,
Inc., Vertex Ventures HC, Longwood Fund and Astellas Venture Management.

“Sofinnova Partners views 28-7 as the clear leader in capitalizing on
the emerging science around RNA biology and how its dysregulation
contributes to many serious diseases such as cancer,” said Henrijette
Richter, Ph.D., Managing Partner at Sofinnova Partners. “We were
captivated by the Company with its strong team of serial entrepreneurs
possessing an incredible track record of successes, an exceptional group
of academic founders, and the impressive scientific data and drug
discovery progress around their lead RNA-focused program. They are
developing game-changing therapeutics to treat cancers with high unmet
need. We are therefore thrilled to be joining 28-7 early in the
Company’s progress and to be investing in their exciting pipeline.” Dr.
Richter will join the Company’s Board of Directors.

Since the close of the initial $65M Series A announced in September
2018, 28-7 has moved into its new facilities in Watertown, MA. Kazumi
Shiosaki, Ph.D., CEO of 28-7, noted that the additional investment by
Sofinnova Partners allows the Company to accelerate its current
programs, build out its technology platform and expand into additional
opportunities. “Sofinnova Partners is known for being a company-builder,
with a strong focus on teams and science. With Sofinnova’s
participation, we are able to work on proteins that regulate additional
classes of RNA, including mRNA, as well as to leverage the programs into
indications outside of oncology,” said Dr. Shiosaki.

28-7’s technology does not directly target small-molecules to the RNA
itself but rather targets RNA-modulating proteins (RMPs). The lead
program focuses on regulating levels of let-7, an important micro
RNA (miRNA) that suppresses the translation of major oncogenes, whose
levels can be disrupted by a protein called LIN28. In certain cancers,
LIN28 is re-expressed and its binding of the let-7 precursor
prevents the production of mature let-7 needed to maintain
oncogene suppression. The Company’s lead program is developing small
molecules that prevent the binding of let-7 precursor to LIN28
and restore the beneficial levels of mature let-7.

About Sofinnova Partners
Sofinnova Partners is a leading
European venture capital firm specialized in Life Sciences. Based in
Paris, France, the firm brings together a team of professionals from all
over Europe, the U.S. and China. The firm focuses on paradigm shifting
technologies alongside visionary entrepreneurs. Sofinnova Partners seeks
to invest as a lead or cornerstone investor in seed, start-ups,
corporate spinoffs and late stage companies. It has backed nearly 500
companies over more than 45 years, creating market leaders around the
globe. Today, Sofinnova Partners has over €1.9 billion under management.
For more information: http://sofinnovapartners.com/.

About Twentyeight-Seven Therapeutics
Twentyeight-Seven
Therapeutics is a biotechnology company focused on the modulation of RNA
to treat cancer and other human diseases. Targeting RNA modulating
proteins (RMPs), the company can use small molecules to control the
expression levels of oncogenes and other proteins of significance. The
company’s core technology comes from its four founding scientists, all
leading researchers in RNA biology and cancer. www.twentyeight-seven.com