Welcome to Seroba's July 2020 newsletter with all the latest news from our portfolio.
A Precision Exit
Seroba’s portfolio company, PrecisionBiotics Group, has been acquired by Novozymes.
Based in Cork, Ireland, PrecisionBiotics Group is a global pioneer in the field of probiotics for human gut health. Its products include the award-winning Alflorex for digestive health and Zenflore for stress reduction.
Novozymes, itself a leading global expert in probiotics and enzymes, acquired the company for a performance-based earn-out along with an upfront figure of Read more
Flotation for Fusion
In June, our portfolio company, Fusion Pharmaceuticals, took advantage of high investor demand and the strong IPO market for biotechnology when it listed on NASDAQ (FUSN). The IPO was multiple times oversubscribed and priced above the high end of its range. Fusion is developing precision medicines for solid tumours. Targeted oncology treatments have huge potential to advance cancer therapy. Read more
Thumbs Up for PQ Bypass
When the Coronavirus crisis hit, PQ Bypass was engaged in recruitment of patients for its DETOUR2 trial. Clinical trials everywhere were being delayed as hospitals focused on the virus. The company quickly responded to the changed circumstances and developed virtual support systems and virtual training for clinicians in the hospitals where recruitment was taking place.
The nimble response was welcomed by the clinicians, some of whom are shown here giving PQ Bypass the thumbs up. Their enthusiasm for DETOUR2 is matched by their appreciation of the quick-thinking and flexibility that allowed the programme to continue despite the challenges of Covid-19. DETOUR2 recruitment is still on track for completion by the end of the year. Find out more about PQ Bypass and DETOUR2 here.
Meet the Entrepreneur
Seroba in the News
Seroba and our portfolio companies have been much in the news lately. Here are just some of the stories that have been hitting the headlines.
Seroba Eyes Irish Startups As It Reaps Rewards From Investments Read here
Fusion Pharmaceuticals Announces IPO Read here
Probiotics Company Acquired Read here
Seroba Leads €7.4m Investment in New Pharma Company, Shorla. Read here
Britain's NHS Supplied with Haemodialysis Systems in response to Covid-19 Read here
Investment in Atlantic Therapeutics Reaches €50m As It Names New US-based CEO Read here
The World's Most Important Sector
We'll meet again
Around the world, coronavirus has forced the postponement of numerous 2020 conferencing events. Some have been rescheduled, some delayed indefinitely and others have gone ahead in virtual mode. We look forward to the day when we can all gather together in person once again, VCs, LPs, entrepreneurs and corporates - all mingling, networking, doing deals and advancing healthcare for mankind worldwide. Until then, wherever you are, let's keep in touch.
Virtually yours, Seroba.