CAMBRIDGE, England, November 15, 2017 /PRNewswire/ --
Sixth Element Capital LLP (6EC), a UK based fund manager established to manage investments for the £70 million CRT Pioneer Fund, announces a £3 million investment in NeoPhore Ltd, a spin out from Cambridge, UK based PhoreMost Ltd.
NeoPhore is focused on the discovery and development of novel small molecule therapies to treat cancer through stimulation of the immune system. The investment will be used to build on the discoveries already made by PhoreMost and its collaborators. NeoPhore's drug target rationale is highly validated by genetic evidence in cancer patients and cellular models.
NeoPhore aims to exploit novel biological mechanisms to directly stimulate cancer neoantigen creation to both boost cancer immunity in patients with unresponsive, immunologically "cold" tumors, as well as improve responses in patients already eligible for cancer immunotherapy treatments.
Robert James, Co-Founder and Managing Partner of Sixth Element Capital, and newly appointed Chairman of NeoPhore, said: "We are delighted to be working with PhoreMost and to be able to support the launch of NeoPhore. PhoreMost's asset-centric model is well-matched to CPF's strategy of funding innovative science in order to bring new therapeutic products and technologies to market, improving the care and lives of cancer patients. NeoPhore's novel immunotherapy portfolio is one of the most exciting approaches we have seen to exploit traditional drug discovery in the context of immunotherapy."
Chris Torrance, CEO and Founder of PhoreMost added: "We are excited to have created NeoPhore as PhoreMost's first asset-centric spin-out, especially one with such a promising new approach to augment the effectiveness and the range of patients that could benefit from novel immune-system stimulating anticancer therapies. NeoPhore's target rationale has already been proven directly in cancer patients treated with immunotherapy, providing a particularly strong basis for developing novel drugs."
About NeoPhore Ltd
NeoPhore, based in Cambridge, UK is focused on the discovery and development of novel small molecule therapies to treat cancer through stimulation of the immune system. Cancer neoantigens are known to stimulate the immune system and potentially be a weak spot in a tumour cell's defence mechanisms. The Company's approach targets genetic mechanisms that both clinical and lab studies suggest will promote neoantigen creation and diversity across numerous cancers. Using these insights, the Company aims to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients.
For more information, please see visit www.neophore.com
About Sixth Element Capital LLP and the CRT Pioneer Fund
Sixth Element Capital LLP (6EC) is a UK based fund manager, which manages the CRT Pioneer Fund. 6EC's experienced partners focus on creative and collaborative novel financing solutions designed to fund and manage innovative science in order to bring new therapeutic products and technologies to market, creating long term value and benefit to stakeholders. The CRT Pioneer Fund is a specialist oncology investment fund established by 6EC in 2012. The £70 million fund is dedicated to investments in oncology development programmes in Europe. The fund was established to bridge the investment gap between cancer drug discovery and early clinical development. To date the Fund has made eleven oncology drug investments.
For more information, please see http://www.sixthelementcapital.com.
About PhoreMost Ltd
PhoreMost has developed a next-generation phenotypic screening platform called SITESEEKER® that can discern the best new targets for future therapy and crucially, how to drug them, which has the potential to significantly increase the diversity and affordability of novel therapeutics for cancer and other unmet diseases. Based on the Company's core proprietary 'Protein Interference' technology', SITESEEKER® systematically unmasks cryptic druggable sites across the entire human genome and directly links them to useful therapeutic functions in a live-cell context. Using this platform, PhoreMost is building a pipeline of novel drug discovery programmes aimed at addressing a range of unmet diseases, which it aims to progress via dedicated asset-specific spin-out companies.
For more information please visit www.phoremost.com
For further information:
Optimum Strategic Communications
Mary Clark, Hollie Vile
SOURCE Sixth Element Capital and PhoreMost