PPF Group expands in the field of biotechnology and immunotherapy
PPF Group has acquired a minority stake in OriBase Pharma, a biotechnology company which specialises in the development of new therapies in oncology. The acquisition will strengthen PPF’s research and product portfolio, currently represented by SOTIO which is developing a next-generation Active Cellular Immunotherapy based on activated dendritic cells for the treatment of cancer and autoimmune diseases. Cooperation between OriBase Pharma and SOTIO will enable the effective sharing of research, expertise and clinical development capacities in the area of immunotherapy and targeted therapies.
PPF has also committed to funding OriBase Pharma’s current drug development portfolio, with further investments which will enable PPF to increase its stake in OriBase Pharma to a majority, controlling stake in the short term.
“The acquisition of OriBase Pharma provides us with an opportunity to broaden our long-term biotechnology activities, which are currently developed by SOTIO. If the clinical development is successful, we will expand our portfolio of anti-cancer drugs to target patients suffering from a variety of cancer types,” said Ladislav Bartoníček, PPF Group shareholder and the Board Member responsible for biotechnology.
SOTIO is currently developing medical therapies for the treatment of prostate cancer, ovarian cancer and lung cancer. OriBase Pharma’s research and development focuses on new drugs and therapies particularly for pancreatic cancer, liver cancer and high unmet medical needs in solid and liquid tumours.
“With PPF on board, OriBase Pharma will definitely have solid resources & support to push forward its two major innovating programmes against aggressive and resistant cancers. Besides that, we are delighted that we share the same vision of developing our pipeline (from our discovery platform for a new generation of kinase inhibitors). In addition, we will have very exciting opportunities for synergies and mutual programmes together with SOTIO,” said Dr Aziz Yasri, CEO and founder of OriBase Pharma.