Forbion Portfolio Companies Milestone and HOOKIPA Successfully List on the NASDAQ Stock Exchange
in company news
Forbion, a leading European life science venture capital firm is proud to announce that two of its portfolio companies have successfully listed on the NASDAQ Stock Exchange.
On April 17, our Vienna-based Forbion II portfolio company HOOKIPA Pharma, Inc. (“HOOKIPA”) raised around USD 84 million. Last week, Forbion III portfolio company Milestone Pharmaceuticals, Inc. (“Milestone”) based in Montreal, Canada, raised around USD 95 million.
Milestone is a Phase 3 clinical-stage biopharmaceutical company, dedicated to developing and commercializing the investigational new drug candidate etripamil for the treatment of cardiovascular indications. Milestone’s lead indication is paroxysmal supraventricular tachycardia (PSVT), a condition that afflicts more than 1.7 million people and results in at least 600,000 healthcare claims per year in the U.S. alone. During a PSVT episode, patients may feel palpitations while heart rate increases dramatically, sometimes exceeding 250 beats per minute. Although the condition is not life threatening, it causes great distress to the patient and can result in a visit to a hospital emergency department where the patient is usually administered intravenous drugs and monitored until the symptoms resolve. Etripamil is a new, potent, short-acting, investigational calcium channel blocker in development as a rapid-onset nasal spray that can be self-administered by the patient to potentially terminate PSVT episodes whenever and wherever they may occur.
Forbion first invested in the Series C financing of Milestone in 2017, and subsequently participated in the Series D/Mezzanine financing in 2018. Milestone, with ticker symbol MIST, is currently trading up.
HOOKIPA is developing a new class of immunotherapeutics, targeting both infectious diseases and cancers, based on its proprietary arenavirus platform that is designed to reprogram the body’s immune system by “supercharging” the immune response. HOOKIPA engineers these viruses aiming to deliver disease-specific proteins, so-called “antigens”, safely and effectively to the immune system. The immune system detects these antigens and builds defenses by killing any cell that expresses mentioned antigens. HOOKIPA has built a pipeline of product candidates for multiple infectious diseases and cancers with the lead product HB-101 for CMV in phase II clinical testing.
Forbion co-led HOOKIPA’s Series A financing in 2011. HOOKIPA is trading with ticker symbol HOOK.