Montréal, Québec, Canada, June 20, 2016 / B3C newswire / -- TVM Life Science Ventures VII closed the fund's eleventh investment, establishing Mediti Pharma Inc., a company based in Montréal, Québec. Mediti Pharma Inc. is developing a compound, MP-101, originally discovered by Eli Lilly and Company for the treatment of Alzheimer's disease (AD) psychosis.
The behavioral symptoms associated with AD psychosis, including hallucinations, delusions and aggression can be most distressing for patients and for their caregivers. Hallucinations and delusions can affect more than 50% of AD patients over time. "We are pleased to support the development of MP-101, a Phase 2-ready clinical compound, through human proof-of-concept in an indication with such high unmet need," stated Dr. Cynthia Lavoie, General Partner with TVM Capital Life Science and board member of Mediti Pharma Inc. The company is managed by CEO Dr. Ivan Shaw, neurobiologist and experienced drug developer and CFO Mark Cipriano. "There is a critical need to develop adequate treatments as these patients have no approved therapeutic options available to them," said Dr. Shaw.
TVM Life Science Ventures VII, a venture capital fund domiciled in Montréal, Québec, follows a new, capital-efficient investment approach to developing pharmaceutical assets to human proof-of-concept in single-asset companies. TVM Life Science Ventures VII is a unique arrangement between TVM Capital Life Science and numerous limited partners, including Eli Lilly and Company. The goal is to finance and access innovation while managing risk and sharing reward.
"Lilly's commitment to Alzheimer's disease is demonstrated by our more than 25 years of research and development in the field," said Robert Conley, Distinguished Lilly Scholar and Global Brand Development Leader at Lilly. "TVM Life Science Ventures VII is an important part of our risk-sharing strategy as we strive to identify, access and shape innovation in areas of unmet medical need, like neurodegeneration."
* Neurology May 23, 2000 vol. 54 no. 10 1965-1971
About TVM Capital Life Science
TVM Capital Life Science is providing venture capital to the international pharmaceutical, biopharmaceutical and medical technology industries with more than 30-years of transatlantic investment track record and in excess of US$1.3bn under management. TVM Capital Life Science currently invests from its 7th fund generation, TVM Life Science Ventures VII, with an integrated team of investment professionals from Munich and Montreal. www.tvm-capital.com or www.tvm-lifescience.com
About TVM Capital Group
TVM Capital is a group of globally acting venture capital and private equity firms with an operating track record of 30 years. Investment teams have financed more than 250 emerging companies across several industries since 1984. During the last 15 years the firm has become increasingly specialized in the most attractive and high-growth verticals in the broader healthcare markets, with focus areas in financing innovative products and technologies in the European and U.S. biopharmaceutical and medical device markets, as well as healthcare services in Emerging Markets. TVM Capital funds operate globally with dedicated life science venture capital funds advised by group members TVM Life Science Management in Montréal and in Munich, TVM Capital China in Hong Kong, and its healthcare private equity fund managed by TVM Capital Healthcare Partners out of Dubai.
About Mediti Pharma Inc.
Mediti Pharma is a project focused company created to develop a single asset, MP-101. The project is fully financed through a Phase 2a study by TVM Life Science Ventures VII. The company will be managing the trial under a Canadian CTA and US IND. The company is fortunate to have Dr. Serge Gauthier C.M., MD, FRCPC, Director of the Alzheimer's Disease and Related Disorders Research Unit of the McGill University Research Centre for Studies in Aging as Head of the Scientific Advisory Committee. CEO Dr. Ivan Shaw, formerly with Merck Frosst, Aptalis and Actavis, is based in Montreal and brings a deep expertise in the neurosciences and drug development to the team. Mark Cipriano is a Boston-based highly experienced and networked CFO.
This press release contains forward-looking statements about TVM Life Science Ventures VII and Lilly's investment in a pre-clinical stage compound for the indication of cancer that is being developed by Modulate Therapeutics Inc. It reflects Lilly's and TVM's current beliefs; however, as with any such undertaking, there are substantial risks and uncertainties in the process of drug development. There is no guarantee Lilly will realize the expected benefits of the transaction, that the product will receive regulatory approval, or if approved, would be commercially successful. For further discussion of these and other risks and uncertainties, please see Lilly's latest Forms 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. The companies undertake no duty to update forward-looking statements.
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