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SOTIO opens office in Basel, Switzerland, to accelerate development of its pipeline products
SOTIO, a biotechnology company owned by the PPF Group, announce today the opening of offices of SOTIO Biotech AG at the Technology Park Basel, Switzerland. The SOTIO office will host the clinical development team, as well as other functions to progress its broad clinical development pipeline towards filing for marketing authorization and commercial launch.
SOTIO exercises second target option under existing collaboration with NBE-Therapeutics to develop next-generation antibody-drug conjugates
Basel, Switzerland & Prague, Czech Republic – November 7, 2019 – NBE-Therapeutics AG and SOTIO a.s. today announced that SOTIO has elected a second target for the development of a next generation antibody-drug conjugate (ADC) under their existing license and collaboration agreement. NBE and SOTIO will collaborate on the discovery, non-clinical development and manufacturing of this second undisclosed target. The development will be based on NBE’s proprietary antibody drug conjugate platform, including NBE’s site-specific SMAC-technologyTM conjugation and its new, highly potent anthracycline toxin platforms. SOTIO will take global responsibility for clinical development, registration and commercialization of the ADC products.
PPF and SOTIO invest $6.5 million in MaveriX Oncology and its lead program MVX-5005
SOTIO, together with PPF, and MaveriX Oncology, Inc., today announce the investment of PPF Group in MaveriX Oncology Inc., a private biotech company with a proprietary pipeline of targeted, small-molecule cancer chemo-immunotherapeutics. PPF has committed to investing $6.5 million in MaveriX Oncology’s ongoing Series A financing contingent on key development milestones. In total, MaveriX is aiming to secure a total of $20 million in funding and the round will remain open for additional investors to join. The proceeds will enable MaveriX to advance the company’s lead program MVX-5005 through IND-enabling studies, and complete first-in-human Phase Ia/Ib clinical trials for the treatment of solid tumors in support of clinical proof-of-concept. The company will also advance further platform programs to drug candidate selection.