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March 31, 2014
Source: Press Release, Prague
PPF Group has acquired a minority stake in OriBase Pharma, a biotechnology company which specialises in the development of new therapies in oncology. The acquisition will strengthen PPF’s research and product portfolio, currently represented by SOTIO which is developing a next-generation Active Cellular Immunotherapy based on activated dendritic cells for the treatment of cancer and autoimmune diseases. Cooperation between OriBase Pharma and SOTIO will enable the effective sharing of research, expertise and clinical development capacities in the area of immunotherapy and targeted therapies.
PPF has also committed to funding OriBase Pharma’s current drug development portfolio, with further investments which will enable PPF to increase its stake in OriBase Pharma to a majority, controlling stake in the short term.
“The acquisition of OriBase Pharma provides us with an opportunity to broaden our long-term biotechnology activities, which are currently developed by SOTIO. If the clinical development is successful, we will expand our portfolio of anti-cancer drugs to target patients suffering from a variety of cancer types,” said Ladislav Bartoníček, PPF Group shareholder and the Board Member responsible for biotechnology.
SOTIO is currently developing medical therapies for the treatment of prostate cancer, ovarian cancer and lung cancer. OriBase Pharma’s research and development focuses on new drugs and therapies particularly for pancreatic cancer, liver cancer and high unmet medical needs in solid and liquid tumours.
“With PPF on board, OriBase Pharma will definitely have solid resources & support to push forward its two major innovating programmes against aggressive and resistant cancers. Besides that, we are delighted that we share the same vision of developing our pipeline (from our discovery platform for a new generation of kinase inhibitors). In addition, we will have very exciting opportunities for synergies and mutual programmes together with SOTIO,” said Dr Aziz Yasri, CEO and founder of OriBase Pharma.
Notes for editors
PPF Group invests into multiple market segments such as banking and financial services, insurance, real estate, energy, metal mining, agriculture, retail and biotechnology. PPF's reach spans from Central and Eastern Europe to Russia and across Asia. PPF Group owned assets of EUR 22.1 billion (as of 30 June 2013).
SOTIO is an international biotechnology company developing new medical therapies, focusing on the treatment of cancer and autoimmunity diseases. The company conducts research concerning the actual platform of active cellular immunotherapy on the basis of dendritic cells, with the goal of significantly improving this treatment and making it accessible to patients. In SOTIO’s laboratory in Prague, equipped with state-of-the-art technologies, leading scientists research the role of dendritic cells in the therapeutic activation of the immune system and work to verify its safety and efficacy through clinical trials. SOTIO has facilities in Europe, the United States, China and Russia. For more information about the company visit the website www.sotio.com.
Created in France in 2007, OriBase Pharma is a biotechnology company, which specialises in the development of new targeted therapies in oncology with a pipeline of original molecules in development for aggressive oncology diseases. These diseases include pancreatic cancer, liver cancer, triple negative breast cancer and lung cancer. For more information about the company visit the website www.oribase-pharma.com.
Source: PPF Group N.V.