London, United Kingdom, 9 April 2024 – Ascend Advanced Therapies (Ascend), an end-to-end gene therapy development partner, has acquired the Chemistry, Manufacturing and Controls (CMC) team and site in Alachua, Florida from Beacon Therapeutics (Beacon). The transaction brings an operational good manufacturing practice (GMP) facility, process and analytical development capabilities, and additional experts to the Ascend team. It also includes a long-term partnership with Beacon to continue manufacturing its products for clinical and commercial use, securing product supply for Beacon, and enabling it to focus on clinical development.

“Ascend was founded with a unique science and technology-driven strategy. As we continue building the most flexible adeno-associated virus (AAV) platform across serotypes on the market, we also understand the critical value of our experienced employees,” Mike Stella, CEO at Ascend offered. “This acquisition allows us to now support customers from research through to commercialization and adds to one of the most experienced gene therapy teams in the market. Every day we are working together to grow the company with a long-term mindset of quality first to appropriately balance quality and yield for the life of each product.”

“We are excited to enter this strategic arrangement with Ascend to advance our sight saving therapies toward approval. This alignment is critical to securing GMP drug product supply for our late-stage clinical asset AGTC-501 for the treatment of X-Linked Retinitis Pigmentosa,” David Fellows, CEO at Beacon Therapeutics continued. “The Ascend team brings significant experience in gene therapy manufacturing and a strong commitment to building capabilities to support future Beacon pipeline programs.”

The Beacon Therapeutics portfolio currently includes three ocular gene therapy products utilizing AAV to deliver gene constructs that address retinal disorders. The proteins expressed from the transduced constructs compensate for deficiencies in the patient cells, or otherwise intervene in pathological processes, potentially restoring vision or preventing disease progression.

Alachua is a leading biotech hub in Florida and continues to attract investments in advanced therapeutic programs. The facility is highly synergistic to a growing global network of Ascend sites that has been built via critical acquisitions. From early-stage R&D at the San Francisco Bay Area site, to process development, optimisation and forthcoming GMP QC release capabilities at the Munich, Germany site and now the GMP facility in Alachua Florida, Ascend has the combined network and product experience to deliver total support for clients at all stages of development.

The transaction was closed on 1st April 2024, and integration efforts began immediately. To learn more about Beacon Therapeutics, please visit: https://www.beacontx.com/. To learn more about Ascend, please visit: www.ascend-adv.com or email business@ascend-adv.com.

About Ascend

Ascend Advanced Therapies (Ascend) is a specialist adeno-associated virus (AAV) development partner working to bring next-generation gene therapy products to market. Using an acqui-building approach, Ascend hit the ground running in 2023 with operational facilities globally, and a team of experts that offer unparalleled insight and collaboration when delivering products from the bench through to commercialization. The flexible platform supports all AAV serotypes across scales with proprietary and partnered technologies and a world-class analytical toolkit. The team continuously aims higher for the long run when collaborating with partners to balance yield and quality of accessible life-saving therapies. Learn more at www.ascend-adv.com.

About Beacon Therapeutics

Beacon Therapeutics is an ophthalmic gene therapy company founded in 2023 to save and restore the vision of patients with a range of prevalent and rare retinal diseases that result in blindness. Beacon has an established scientific foundation that combines a late-stage development candidate to treat X-linked retinitis pigmentosa (XLRP), as well as two preclinical programs, one targeting dry age-related macular degeneration (AMD) and another targeting cone-rod dystrophy (CRD), an inherited retinal disease. The Company is supported by funds from Syncona and additional investors including Oxford Science Enterprises. To learn more, please visit www.beacontx.com.

Phagenesis, a medical devices company, which specializes in the treatment of swallowing disorders, successfully closes a $42M Series D financing round led by EQT Life Sciences and co-led by Sectoral Asset Management.  

Amsterdam, The Netherlands, March 4, 2024 – EQT Life Sciences is pleased to announce  that the EQT Health Economics strategy has invested in Phagenesis, a pioneering UK-based  company that has developed a revolutionary neurostimulation system to treat swallowing  dysfunction. The $42M Series D financing was led by EQT Life Sciences and co-led by Sectoral, with new investors British Patient Capital, Northern Gritstone and Aphelion also joining the round. This substantial investment is a recognition of the transformative potential of Phagenesis’ cutting-edge therapy, Phagenyx®.
The Phagenyx® neurostimulation system targets and restores the neurological components of swallowing coordination and control that are disrupted due to brain injury, including stroke, or because of prolonged mechanical ventilation. Patients with swallowing dysfunction (dysphagia) are unable to safely or effectively eat, drink, or manage their own saliva. Dysphagia can often lead to life threatening complications such as pneumonia and is also associated with substantially higher healthcare costs.
With the recent approval of Phagenyx® by the FDA, the primary focus of this investment is to build commercial infrastructure and to execute a comprehensive and ambitious commercial growth strategy in the United States. The funding will also allow the Company to drive further commercial growth in Europe, deepening the already established business within that region. EQT Life Sciences has developed deep expertise in guiding MedTech, Digital Health and Diagnostics companies through initial commercialization and towards commercial scaling, and as such this investment represents an opportunity to contribute to the development of another top tier company. The funding will also support clinical trials, regulatory activities, as well as research and development of pipeline products.
Drew Burdon, Partner at EQT Life Sciences, said: “Dysphagia is a severe medical condition that  affects countless patients in hospital. It can increase hospital length of stay, the risk of complications, and lengthens recovery time. The Phagenyx® System demonstrates significant reductions in hospital length of stay, with a corresponding and substantial reduction in healthcare costs, as evidenced by  the Company’s strong portfolio of high-quality clinical studies. This is strongly aligned with EQT’s  Health Economics strategy of transforming cutting-edge scientific innovation into impactful and  cost-effective healthcare solutions. We‘re excited to support the next phase of Phagenesis’ journey.”
“This investment from a highly experienced international investor syndicate will accelerate access to  and adoption of our therapy,” said Reinhard Krickl, CEO of Phagenesis. “We will invest in  exceptional talent to scale up our customer outreach and to support passionate clinicians who want  to bring our therapy to those who need it. Our novel and proven therapy can help the millions of  patients every year who suffer from swallowing disorders.”

As part of this transaction, Drew Burdon, Michael Sjöström (Sectoral) and Mark Wyatt  (Northern Gritstone) will join the Phagenesis’ Board of Directors.

Contacts
EQT Press Office, press@eqtpartners.com

About EQT Life Sciences  

EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European life  sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0  billion and supported the growth of more than 150 companies since it started to invest over  30 years ago. With a dedicated team of highly experienced investment professionals coming  from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs  entrepreneurs who have ideas that could truly make a difference for patients. The team  combines deep sector knowledge, analytical skills, and investment experience to provide the added value that entrepreneurs seek. For more information, go to eqtgroup.com/private capital/life-sciences/

About Phagenesis 

Phagenesis® Ltd, is a private MedTech company co-founded by Dr. Conor Mulrooney and  Professor Shaheen Hamdy from the University of Manchester in 2007. Phagenesis offers  innovative treatments for neurogenic dysphagia using pharyngeal electrical stimulation, PES.  The Phagenyx® Neurostimulation System is the result of years of rigorous scientific research,  initiated by Professor Hamdy, and has been featured in numerous clinical publications. For  additional information, visit phagenesis.com.

Funds managed by Castik Capital S.à r.l. (“Castik”) have entered into an agreement to acquire a majority stake in paraDIGMA group from Mentha, paraDIGMA group’s founder Rudo Vissers and management, who will remain shareholders in the business. The company is led by CEO Peter Kruissen who will continue to lead paraDIGMA group together with the management team.

paraDIGMA group is one of the Netherlands’ leading occupational health providers in the field of sustainable employability. With currently c.1,000 employees across 9 offices and more than 80 locations, paraDIGMA group covers customers’ occupational health needs nationwide. The company offers an extensive portfolio of complementary preventive, curative and re-integrative services through its nine specialised labels. In recent years, the largest label de Arbodienst has successfully transitioned to an innovative subscription model, which aligns interests best between customers and paraDIGMA group.

paraDIGMA group plans to continue its organic and inorganic growth, further strengthen its service portfolio and expand its digital offering. Based on this, paraDIGMA group can offer a differentiated customer experience in pursuit of the common goal: improved health, greater job satisfaction and engagement as well as lower absenteeism.

About paraDIGMA

paraDIGMA group is active in the field of sustainable employability, with c.1,000 staff located in the Netherlands. Together with its clients, paraDIGMA group works on improving clients’ employees’ health, job satisfaction and engagement as well as lowering absenteeism. paraDIGMA group does this using its nine labels, each with its own speciality. For example, de Arbodienst provides sick leave case management. Other services comprise psychological interventions as well as outplacement and reintegration services, amongst others. The company was founded in 2003 by Rudo Vissers, who remains a shareholder.

More information is available at: www.paradigma.nl.

Blackstone Life Sciences to invest up to $750 million to support innovative mRNA technology

NEW YORK – Blackstone (NYSE:BX) announced today a new collaboration with Moderna, Inc. (NASDAQ: MRNA, “Moderna”) through a development and commercialization funding agreement where funds managed by Blackstone Life Sciences (“Blackstone”) will provide up to $750 million to fund Moderna’s influenza (“flu”) program.

“Moderna has demonstrated a remarkable ability to impact human health through mRNA vaccines targeting respiratory illnesses. This landmark collaboration is another example of our long-standing strategy to partner with the world’s leading life science companies to advance their critical path vaccines, medicines and medical technologies to patients,” said Nicholas Galakatos, Ph.D., Global Head of Blackstone Life Sciences.

“Moderna is advancing a broad and diverse pipeline at a pace not seen before in our industry,” said Stéphane Bancel, Chief Executive Officer of Moderna. “Our goal is to launch multiple vaccine products in the next few years and deliver the greatest possible impact to people through mRNA medicines. Achieving this ambition requires substantial investment in late-stage studies and we are excited to welcome Blackstone and their innovative financing model.”

This new collaboration continues Blackstone Life Sciences’ work and support for many of the world’s leading and most innovative biopharmaceutical and medical technology companies. Blackstone seeks to provide customized financing solutions for companies across therapeutic areas to support mission critical scientific innovation and advance important products to patients.

About the Transaction
Under the terms of the agreement, funds managed by Blackstone Life Sciences will provide up to $750 million to fund Moderna’s flu program. If successful, BXLS will be eligible to receive milestones and royalties on resultant flu products. Moderna will recognize the funding as a reduction in research and development expenses and will retain full rights and control of the Company’s influenza program.

More information about Moderna’s flu program pipeline can be found in Moderna’s Vaccines Day press release – being announced concurrently this morning at: https://investors.modernatx.com/. Additional terms of the agreement were not disclosed.

About Blackstone Life Sciences
Blackstone Life Sciences is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines and medical technologies that improve patients’ lives and currently has more than $8 billion in assets under management.

Blackstone Contact
Paula Chirhart
Global Public Affairs
paula.chirhart@blackstone.com
(347) 463-5453

Spineart has successfully raised a CHF20 million convertible financing. The funding comes on the heels of the completion of enrollment in the two BAGUERA® C IDE studies, underlining Spineart’s commitment to advancing spinal surgery through large scale investments in research and development. More than CHF15 million of the funding was contributed by existing shareholders and employees, with the remaining portion sourced from new investors, above its CHF20 million initial target.

“We are thrilled to announce the successful closure of our CHF20 million convertible financing round, which underscores the confidence and support of our investors in Spineart’s vision and innovative technologies,” said Jerome Trividic, CEO of Spineart. “The overwhelming participation from existing shareholders, as well as the addition of new investors, is a testament to the potential of our BAGUERA® C cervical disc prosthesis and our commitment to improve spinal surgery through enabling technologies and robotic navigation.”

The proceeds from the financing round will be used for several strategic initiatives. These include investments in novel enabling technologies, continued follow-up of patients enrolled in the two BAGUERA® C IDE studies, completion by the end of 2024 of a new 43,000sqft / 4,300 m2 factory currently under construction near Geneva and the opening this summer of Spineart’s new R&D and Training Center for Enabling Technologies in Dallas, Texas.

About the BAGUERA® C IDE studies:

The BAGUERA® C IDE studies are pivotal in evaluating the safety and efficacy of Spineart’s innovative BAGUERA® C cervical disc prosthesis, designed to address degenerative cervical disc disorders. The completion of enrollment in these studies marks a crucial step forward in bringing this new technology to market in the United States.

London, UK – Global investment firm Carlyle (NASDAQ: CG) today announced that it has co-led a consortium of investors to provide a financing solution of €1.1 billion to support the future growth of Ottobock (the “Company”), the global market leader in prosthetics. The financing will also support existing majority shareholder Professor Hans Georg Näder and the Näder Family’s buy back of EQT’s 20% shareholding in the business.

Headquartered in Duderstadt, Germany, with origins dating back more than 100 years, Ottobock is widely recognised for its innovative and market leading solutions in the fields of prosthetics and orthotics, dedicated to helping customers globally to strengthen their independence and maintain their quality of life. Ottobock, which has remained family-owned since inception, has more than 400 of its own patient care centres worldwide, providing a diverse range of high tech and customizable devices designed to help amputees’ mobility. The Company has sat at the forefront of industry innovation, evidenced by the introduction of the first micro-processor enabled knee as early as 1997. It has maintained its global market leadership position through a continuous focus on innovation and R&D, delivering cutting edge products in 135 countries. The Company currently employs more than 9,000 employees worldwide.

Carlyle Global Credit manages $188 billion in assets under management, as of December 31, 2023. It regularly pursues investments in privately negotiated capital solutions for both private equity sponsored and family or entrepreneur-owned companies.

Taj Sidhu, Head of European and Asian Private Credit, said: “We are delighted to partner with the Näder family and the outstanding Ottobock management team. This transaction sits at the core of our strategy of providing flexible capital solutions to family-owned businesses that are leaders in their field. Ottobock has been a pioneer and champion for innovation in prosthetics and orthotics and we look forward to partnering with such an inspiring business on the next stage of its growth journey for the benefit of patients worldwide.”
Professor Hans Georg Näder said: “My family and I are delighted to have been able to agree this financing with such a high-quality group of lenders. My team and I very much look forward to working with Carlyle and the group over the coming years and I am confident that with their support Ottobock’s future growth is assured.”
About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $426 billion of assets under management as of December 31, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 28 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

Media contacts:
For Carlyle: 

Charlie Bristow
charlie.bristow@carlyle.com
+44 7384 513568