Recurv is the 8th early-stage or product focused company (PFC) investment for TVM Life Science Innovation II Fund
Recurv is developing novel taxane, RP-001, against solid tumors
RP-001 delivered in nano-emulsion formulation, focusing drug delivery to tumor and sparing healthy organs
Strong efficacy in multiple pre-clinical cancer models, including multi-drug resistant tumors
Montreal, Canada / Munich, Germany – 01 February 2023 – TVM Capital Life Science (“TVM”), a leading transatlantic venture capital firm focused on investments in life sciences innovation, today announced that the company will invest up to USD 24 million in the newly formed U.S.-based biotechnology company, Recurv Pharma, Inc. (“Recurv”) with its fund TVM Life Science Innovation II SCSp (“TVM LSI II”). Recurv plans to develop to proof-of-concept a novel taxane therapy to treat solid tumors. Also, TVM will provide strategic advice to the company with Dr. Luc Marengère, Managing Partner joining the Board of Directors and Dr. Valentina Agostoni, Associate, serving as a Board Observer. Recurv is the 8th early-stage or project-focused company (PFC) investment for the TVM Life Science Innovation II Fund.
James E. Egan, CEO of Recurv, said: “TVM’s investment is designed to get us to a key value inflection point, namely, Phase 2a proof-of-concept, with our cancer program, RP-001. Taxanes have been a cornerstone of cancer treatment for decades, but they can come with significant side effects, and treated cancers frequently recur. We are looking to provide a safer, more efficacious treatment option that may be used in combination with immunotherapies and in a far wider range of cancers, even those resistant to current taxanes. We are excited to have TVM’s strong support and to now have the resources to further the development of this potentially game-changing molecule.”
Dr. Luc Marengère, Managing Partner of TVM, said: “TVM is excited about the potential of this novel approach which could introduce a new and safer taxane for cancers previously unresponsive to such treatment. Recurv is a perfect fit for TVM’s project-focused company investment objective – that is, to invest in first- or best-in-class product candidates with strong scientific rationale and the potential for clear differentiation from competition or added clinical value to current standard of care. TVM looks forward to working with James and the rest of the experienced team at Recurv to help them advance this important program into a clinical proof-of-concept.”
For its PFC investments, TVM has a unique arrangement with Eli Lilly and Company (“Lilly”), which is a limited partner in TVM LSI II and the earlier fund TVM LSI I, under which TVM and its PFCs have the option to engage Chorus, a full-service autonomous research and development unit within Lilly, to assist the PFC by implementing a lean and focused drug development plan, resulting in high-quality data packages to help determine proof of concept.
RP-001 is a new chemical entity (NCE) delivered in a nano-emulsion formulation that focuses the drug delivery to the tumor, sparing healthy organs. The molecule has demonstrated the ability to kill tumors even in multi-drug resistant cancers, with strong efficacy in various pre-clinical tumor models, including non-small cell lung, breast, ovarian, prostate, pancreatic and colorectal cancers. It has also been proven in preclinical models to cure tumor types that are resistant to current taxane treatments. The data have shown that RP-001 can effectively kill cancer stem cells, the cells that trigger recurrence, and toxicology studies suggest a potentially superior safety profile compared to taxanes currently on the market. Additionally, RP-001 was demonstrated to be synergistic with immune checkpoint inhibitors in a pancreatic cancer model.
About TVM Capital Life Science
TVM Capital Life Science (“TVM”) is a leading international venture capital firm focused on investing in life science innovations. The company has a highly experienced transatlantic investment team and approximately $900 million under management. TVM’s portfolio focuses on therapeutics and medical technologies from North America and the EU that represent differentiated first-in-class or best-in-class assets with the potential to transform standard of care.
TVM pursues a unique two-pronged strategy, financing innovative early-stage therapeutics through a single asset company approach (Project-Focused Company, PFC) that leverages the firm’s strategic relationship with global pharmaceutical firm, Eli Lilly and Company. TVM also invests in differentiated commercial-stage medical technologies and late clinical-stage therapeutics.
With its early-stage investments, TVM follows several key principles, which include increasing capital efficiency, streamlining development timelines and soliciting buyer input at the time of investment. This strategy has been validated through successful exits such as AurKa Pharma, Inc. and Acanthas Pharma, Inc.
The TVM investment team has worked together for (over) a decade to effectively utilize this innovative approach to maximize returns for investors and finance new therapies and technologies to meaningfully improve patient lives.
About Recurv Pharma, Inc.
Recurv is a U.S.-based special purpose biotechnology company created to develop to clinical proof-of-concept one oncology compound, RP-001, a novel taxane therapy to treat solid tumors. The project is fully financed by TVM Life Science Innovation II. In various pre-clinical oncology models, the asset has shown strong efficacy data in addition to a potentially superior safety profile compared to currently available taxanes, as well as synergistic effects with immune checkpoint inhibitors.
This press release contains forward-looking statements about TVM Life Science Innovation II’s investment in a preclinical stage compound to treat certain types of cancers that Recurv Pharma is developing. It reflects TVM’s current beliefs.
TVM Capital Life Science
Dr. Luc Marengère
MC Services AG
Europe: Anne Hennecke
Tel: +49 211 529 252 22
North America: Laurie Doyle
Tel: +1 339 832 0752