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Financing › Details

Tusk Therapeutics–Droia Ventures: investment, 201809 existent majority shareholder + founding investor Droia Oncology Ventures

	Period	2014-01-01 � 2018-09-28
	Successor	Tusk Therapeutics–Roche: investment, 201809 acquisition for €70m cash + €585m milestones with some assets spun out into Black Belt Therapeutics
	Money taker	Tusk Therapeutics Ltd.
	Group	Roche (Group)
	Money source	Droia Oncology Ventures
	Product	CD25 Treg depleting antibody (Tusk Therapeutics / Roche)
	Product 2	venture capital

Tusk Therapeutics Ltd.. (9/28/18). "Press Release: Tusk Therapeutics to Be Acquired by Roche". Stevenage.

Tusk Therapeutics Ltd (“Tusk”) was today acquired by Roche. Tusk has developed an antibody with a novel mode of action aimed at depleting regulatory T-cells (Tregs). Tregs suppress immune responses, including those against cancer cells. Preclinical data has shown that depleting Tregs from the tumor microenvironment can enhance and/or restore anti-tumor immunity. Tusk’s antibody has been designed to deplete these harmful Tregs, while not interfering with other immune cells acting against the tumor. Tusk’s program is expected to start clinical trials in cancer patients towards the end of 2019.

Tusk was founded in 2014 by Droia Oncology Ventures, Tusk’s majority shareholder. Under the terms of the agreement, Tusk’s shareholders will receive an upfront cash payment of Euro 70 million, plus additional contingent payments of up to Euro 585 million based on achievements of certain predetermined milestones.

Luc Dochez, Chief Executive Officer of Tusk Therapeutics, said: “We are delighted that Roche will further develop this novel antibody and drive the development ahead. The remaining portfolio of our immune-oncology targets will be further developed by Black Belt Therapeutics, a newly formed company spun out of Tusk Therapeutics.”

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For further information, please contact:

Tusk Therapeutics Ltd.
Luc Dochez, Chief Executive Officer
info@tusktherapeutics.com

About Tusk Therapeutics Ltd

Tusk Therapeutics is a privately held immuno-oncology company focused on discovering and developing therapeutic antibodies that harness the power of the immune system to transform the treatment of cancer. The Company’s lead programme consists of a first-in-class antibody for the depletion of regulatory T-cells, based on the work of Dr. Sergio Quezada. The Company has strategic partnerships and licensing agreements with top research institutes including Cancer Research Technology, Cancer Research UK’s commercial arm and University College London. For further information about Tusk Therapeutics, please visit www.tusktherapeutics.com.

About Droia Oncology Ventures

Droia Oncology Ventures is a specialist investor, dedicated to the fight against cancer. Droia invests in promising new cancer therapies and accelerates their progress by actively supporting young drug development companies to achieve clinical proof of concept with their lead programs. Droia has an in-house team of drug development professionals who offer hands-on support. Operating from Luxembourg and Belgium, Droia invests globally with its portfolio companies split equally between Europe and the US. Droia is currently investing from its second fund and has over USD 250 million under management. For more information, please visit www.droiagroup.com