Launch of Tribune Therapeutics to develop new drugs targeting a wide range of fibrotic diseases

– Company co-created and financed by HealthCap and Novo Holdings

– Revolutionary asset licensed from Norway’s leading technology transfer office, Inven2

– Jonas Hansson, Partner, HealthCap will assume the role of Executive Chairman while Georg Vo Beiske, Junior Corporate Partner, HealthCap is appointed Managing Director

Oslo, Norway, June 2, 2021 / PRNewswire / – Tribune Therapeutics (“Tribune”), a company founded to exploit a novel pan-antifibrotic mechanism in a wide range of indications, announces its launch with seed funding led by HealthCap and Novo Holdings. This follows a period of business creation, with close involvement of HealthCap and Novo Seeds, the start-up investment and business creation team of Novo Holdings.

Founded in 2020 and having recently licensed an asset from Inven2, one of the largest technology transfer offices in the Nordic region, Tribune is emerging from stealth mode as a preclinical biopharmaceutical company building a promising pipeline of new drugs to treat patients with a wide range of fibrotic diseases.

Based on research from Håvard Attramadal’s laboratory in University of Oslo Hospital, Tribune is developing a new drug with a pan-antifibrotic mechanism of action targeting several fibrotic indications, including diseases affecting the kidneys, lungs and liver.

HealthCap and Novo Seeds worked closely with Inven2 and the Scientific Founders to develop a commercially attractive business plan to maximize the potential of the company’s breakthrough technology.

Jonas Hansson, Partner of HealthCap and Executive Chairman of Tribune, said: “Tribune is the result of years of academic research and is now embarking on the development of new pharmaceuticals to treat life-threatening fibrotic diseases. The combination of a strong scientific base and a great unmet medical need with a Nordic footprint fits Novo Seeds perfectly. and HealthCap. Together, we are delighted to support this important work. “

João Ribas, Senior Associate at Novo Seeds, added: “As part of our mission to support entrepreneurs developing innovative solutions to improve treatment options for patients, we are delighted to be working with HealthCap to fully fund and support Tribune Therapeutics. This funding not only illustrates Novo Seeds’ commitment as a key builder of biotech companies in the Nordic region, but also demonstrates our ability to synergistically collaborate with academic experts and like-minded investors to bring the latest scientific advancements into promising and disruptive ventures. “

Ole Kristian Hjelstuen, CEO of Inven2, said: “The main mandate of Inven2 is to commercialize inventions on behalf of the strong academia we represent. We are very proud to see that the cutting edge academic research of the Håvard Attramadal laboratory has laid the foundation for Tribune Therapeutics. Financial support, the expertise and commitment of Novo Holdings and HealthCap, two of the leading life sciences financial institutions in Europe, gives the company a good chance of succeeding in bringing new treatments to patients. We look forward to following the road from the lab to patients with high unmet medical needs. “

Georg Vo Beiske, Junior corporate partner at HealthCap and new CEO of Tribune, said: “There is a great need for new treatment options for patients with fibrotic diseases. Tribune Therapeutics is built on solid science and has the potential to develop life-changing therapies for these patients. With the support of Novo Seeds and HealthCap, we look forward to bringing science to pharmaceutical development. “

Following the funding, João Ribas, Senior Associate and Jørgen Søberg Petersen, Partner at Novo Seeds; Elias Papatheodorou, CEO Genkyotex; and Jacob Gunterberg, Partner at HealthCap will join the Board of Directors which will be chaired by Jonas Hansson, Partnerat HealthCap and Executive Chairman of Tribune.

Georg Vo Beiske, Junior corporate partner at HealthCap, was appointed CEO and Ole Jørgen Kaasbøll, MD, PhD to University of Oslo Hospital, will assume the role of scientific director.

Fibrosis is a pathogenic process that results in the deposition of scar tissue and usually occurs when tissue is chronically inflamed or subjected to too much stress for the body to recover on its own. Fibrosis can occur in many tissues of the body and lead to disease in several organs, including the heart, lungs, liver, and kidneys. Overall, human fibrotic disease affects far more people than expected and is a major health problem around the world due to the current lack of safe and effective treatments.

About Tribune Therapeutics

Tribune Therapeutics is a preclinical biopharmaceutical company building a promising pipeline of new drugs to treat patients with a wide range of fibrotic diseases. Founded in 2020, the company acquired a licensed asset from Inven2, one of the largest technology transfer offices in the Nordic region. The company was formed by HealthCap and Novo Seeds, the start-up and business creation investment team of Novo Holdings.

About Novo Holdings A / S

Novo Holdings is recognized as a leading international investor in life sciences with a focus on long-term value creation. As an investor in life sciences, Novo Holdings provides seed and venture capital to early stage companies and takes significant stakes in growing and established companies. Novo Holdings also manages a large portfolio of diversified financial assets. More information: http://www.novoholdings.dk

About HealthCap

HealthCap is one of the largest specialist life science venture capitalists in Europe. Since its inception in 1996, HealthCap has supported and built over 100 businesses. HealthCap’s investment strategy focuses on diseases with high unmet medical needs and breakthrough therapies that have the potential to be transformative and improve the lives of patients with these conditions. Please see: www.healthcap.eu and on Twitter: @HealthCapVC

About Inven2

Inven2 is a limited liability company owned by the University of Oslo and University of Oslo Hospital, and was established to manage the commercial potential of the inventions and results of the work of these two institutions and all of the health trusts of the Southeastern Norwegian Regional Health Authority.

Since 2010, Inven2 has received 2072 ideas which have turned into a total of 388 license agreements and 55 companies with a total value of NOK 30 billion. This value creation has led to the return of MNOK 582 to inventors, new research and innovation.

Please see: www.inven2.com and on Twitter @ Inven2as

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SOURCE Novo Seeds


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