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Edmond de Rothschild participates in CHF18m series B financing of OncoEthix

Edmond de Rothschild Investment Partners has made the third investment of BioDiscovery 4, its fourth fund dedicated to life sciences, through its participation in the series B financing round of OncoEthix.

 
OncoEthix is a Swiss-based oncology drug development company founded in 2009. Edmond de Rothschild Investment Partners participated in the Series B financing round of CHF18m alongside SV Life Sciences and existing investors Index Ventures and Endeavour Vision.
 
The funds will be used for the clinical development of OTX015, a small molecule inhibitor targeting BET bromodomain proteins 2/3/4. The BET proteins are considered potential cancer targets because of their pivotal role in regulating the transcription of growth-promoting and cell cycle regulators, especially c-MYC. A two strata Phase 1 study in acute leukaemia and other hematologic malignancies was started in January 2013.
 
Raphaël Wisniewski, partner at Edmond de Rothschild Investment Partners, says: "We are very excited that our new fund Biodiscovery 4 can support this promising company and that our venture partner Dr Thierry Hercend has been appointed as an industry expert to OncoEthix. OTX015 is one of the first molecules and likely the best, in the emerging class of BET bromodomain inhibitors. We have been impressed by the team’s achievements to date and are confident that in their expert hands OTX015 has the potential to become a major drug in oncology."
 
Bertrand Damour, chief executive of OncoEthix, says: "We are delighted and very fortunate to have attracted Edmond de Rothschild Investment Partners as well as other blue-chip life science investors and we believe this financing will support an exciting next chapter in the development of OTX015."

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