Forbion co-leads $175 million Series B financing of Mariana Oncology as first investment of Forbion Ventures Fund VI
- Forbion co-leads oversubscribed Series B financing in next-generation radiopharmaceuticals company
- First investment by its Forbion Ventures Fund VI, aimed at advancing highly impactful development-stage therapeutics companies
- Investment in Mariana Oncology leverages Forbion's track record and deep domain expertise in oncology
NAARDEN, The Netherlands and MUNICH, Germany, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Forbion, a leading European life sciences venture capital firm, today announces that it has co-led, together with Deep Track Capital, an oversubscribed $175 million Series B financing in Mariana Oncology, the first investment by its Forbion Ventures Fund VI. Founding investors Atlas Venture, Access Biotechnology and RA Capital Management are joined by additional new investors Nextech Invest, Surveyor Capital (a Citadel company) and Eli Lilly and Company.
Mariana Oncology, a fully integrated, next-generation radiopharmaceuticals company, will use the proceeds to support the development of the company's portfolio of precision next generation radiopharmaceuticals, including its lead candidate MC-339, which targets small cell lung cancer. In conjunction with the fundraise, Forbion Managing Partner Geert-Jan Mulder, MD, will join the Board of Directors, alongside Rebecca Luse from Deep Track Capital, that co-led the funding round.
Earlier this year, Forbion announced the final close of its Forbion Ventures Fund VI, which reached the hard cap amount of €750 million and, alongside the close of the Forbion Growth Opportunities Fund II at €600 million, represented Forbion's largest fundraising to date. The fund aims to build a portfolio of highly impactful therapeutics companies and builds on the firm's strong track record from previous Forbion Ventures funds.
Geert-Jan Mulder, MD, Managing Partner said, "Mariana Oncology has a promising pipeline and its lead asset, MC-339, is particularly exciting when we look at the potential positive impact on patients. MC-339 holds the promise to transform small cell lung cancer with the targeted delivery of an actinium payload, leveraging the advantages of peptides for enhanced tumoral uptake. We look forward to the Company's evolution into a clinical-stage company and the potential to efficiently deliver an effective new standard of care to patients in the future."
"The support of such a strong syndicate of new and existing investors is a testament to Mariana Oncology's potential," said Simon Read, Ph.D., Founder and Chief Executive Officer of Mariana Oncology. "In just 18 months since our Series A, we have leveraged our deep expertise in peptide discovery and radiochemistry to advance a diversified portfolio of novel molecules. The proceeds from this financing support the advancement of our pipeline and the initial development of our lead candidate, MC-339, which we anticipate will enter the clinic in 2024 in small cell lung cancer, supported by our own GMP radiopharmaceutical manufacturing."
For more information, please contact:
Forbion Communications
Email: laura.asbjornsen@forbion.com
Head of Communications
Brunswick Group
Ayesha Bharmal, Charis Gresser
Email: Forbion@Brunswickgroup.com
Notes for Editors:
About Forbion
Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands, Germany and Singapore. Forbion invests in life sciences companies that are active in the (bio-) pharmaceutical space. Forbion manages €3 billion across multiple fund strategies that cover all stages of (bio-) pharmaceutical drug development. Forbion's current team consists of over 30 life sciences investment professionals that have built an impressive performance track record since the late nineties with investments in over 95 companies across 8 funds. Forbion's record of sourcing, building and guiding life sciences companies has resulted in many breakthrough therapies and valuable exits. Portfolio company successes include NewAmsterdam Pharma (NASDAQ:NAMS), Gyroscope (acquired by Novartis) and Replimune (NASDAQ:REPL). Besides financial objectives, Forbion selects investments that will positively affect the health and well-being of patients. The firm is a signatory to the United Nations Principles for Responsible Investment. Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany.
For more information, please visit: www.forbion.com
About Forbion Ventures Fund VI
The Forbion Ventures Fund VI aims to build a portfolio of highly impactful therapeutics companies including existing biotechs and new companies (co-) founded by Forbion, created around assets sourced from pharma or academic institutions, or around proven management teams. Forbion's Ventures Fund VI builds on the firm's strong track record from previous Forbion Ventures funds. Forbion Ventures Fund VI saw a strong re-up rate by existing investors, and at the same time has attracted several new investors including Dutch pension funds PME and PMT, Loyola University of Chicago, the Scott Trust Endowment Ltd and Pictet Alternative Advisors.
About Mariana Oncology
Mariana Oncology is a fully integrated, next-generation radiopharmaceuticals company focused on pioneering a new class of targeted peptide-based radiopharmaceuticals. The company's radiopharmaceuticals are composed of rationally designed conjugates against carefully selected biological targets to deliver alpha or beta-emitting radionuclide payloads. By engineering molecules designed to penetrate solid tumors better than antibodies and deliver optimized high radiation activity doses without the side effects associated with chemotherapy and toxin-based strategies, Mariana Oncology aims to transform the treatment of cancer. For more information visit www.marianaoncology.com.
