Future Positive Capital Launches the First Pan-European Fund Dedicated to Deep Tech Companies Solving the World’s Most Pressing Challenges
-
Ex-Index Ventures French-Moroccan founder Sofia Hmich has created the
first Pan-European firm exclusively focused on deep tech companies
that solve the world’s most pressing challenges -
Future Positive Capital (FPC) announces the first close of its fund at
$57.1m -
Backers include top tier institutional investors such as Bpifrance,
Draper Esprit, the European Investment Fund and Isomer Capital – and
individuals like Walter Butler, Henri de Castries, Marie Eriksson,
Robin Klein and Francois Lemarchand -
First investments are BioBeats, an AI company focused on delivering
preventative mental health, and Meatable, which is developing the
next-generation of lab-grown meat
PARIS–(BUSINESS WIRE)–Though the initial target size for the fund was $55m, Future Positive
Capital fund is oversubscribed at first close with $57.1m in commitments
as backers show strong interest in companies that solve the world’s most
pressing problems.
The Paris-London based investment team seeks Europe’s boldest
entrepreneurs who use advances in artificial intelligence, robotics,
synthetic biology, genetics, and other deep technologies to solve
problems such as feeding the world’s growing population sustainably,
tackling climate change and coping with an ageing population.
FPC targets blind spots in existing European venture capital funding.
Many venture capital investors remain highly concentrated in a handful
of sectors (consumer, fintech, marketing etc.) focusing on web and
mobile technologies that target mainly wealthier consumers, leaving a
long tail of opportunities for investors who are willing to back the
next generation of visionary entrepreneurs. The team believes major
global factors of change, such as the acceleration and convergence of
advanced technologies, new aspirations from the workforce and consumers,
huge macro demographic shifts and stronger regulation have led to a real
tipping point in our global economy which has created unique conditions
for these new companies to thrive.
“Future Positive Capital captures the zeitgeist of our time.
At a macro level, we see a universalization of challenges, where
problems that once were those of “others” are now those of everyone. The
consequences of climate change is the most obvious example,” said
Sofia Hmich, “the time is right to build an investment firm based on
the conviction that the greatest value creation will be driven by
companies that are necessarily interconnected with improving the human
and planetary condition.”
FPC is building a concentrated portfolio of ~20 companies at Seed and
Series A, with investment ranging between ~$300,000 and ~$5m.
The team published a blog post detailing their thesis “The
Future Positive Thesis“.
Two investments already made
FPC has already invested in two companies: Meatable, a Dutch company
that is developing in-vitro, lab-grown clean meat from stem cells, and
BioBeats, an Oxford-based company that built the world’s first unified
computational model for wellbeing.
“We exist to back a new wave of entrepreneurs and scientists which is
on the rise,” said co-founder Alexandre Terrien, “the problems
they seek to solve are global, complex and require radical innovations.
Their relentlessness, combined with their long-term vision attracts the
best talent. This increases the chance that these companies will go from
$10 million businesses to $1 billion category leaders.”
David Plans, founder of BioBeats, said: “We decided to re-open our
round for FPC because they understood the specificity of our
technological approach and were 100% aligned with our long term vision.
It is exciting to work with the team because they’re entrepreneurs at
heart who understand the challenges of a start-up and can offer the
support we need.”
A complementary team led by a passionate female founder
Sofia is not a typical VC. The child of first generation Moroccan
immigrants, the 31 year old grew up and studied in Paris’s banlieue at
La Courneuve and made it from there to one of Paris’s elite
business schools, HEC Paris. At the intersection of entrepreneurship and
investment, her career has encompassed tech innovation throughout with
stints at Index Ventures, Europe’s top venture capital firm, and Deezer,
the worldwide digital music service, where she was in charge of
international expansion. Prior to setting up FPC, she spent two years
building the pillars of the firm by investing in companies like
what3words and HomeTree as well as Ynsect and Streetbees in
collaboration with renowned investors. Sofia is one of the very few
female Founding General Partners in the world. According to estimates by
European Women in Venture, only 5% of Managing Partners of EU-based
venture capital firms are women.
Sofia Hmich’s co-founders are Alexandre Terrien and Michael Rosen.
Terrien previously worked with Harvard biomedical engineering professor
David Edwards to build companies at the frontiers of science and design.
Terrien also co-founded pan-African education media franchise Kukua, and
scaled the French and Swiss businesses of VC-backed General Assembly
(which recently sold to Adecco for $412m). Rosen brings 13 years of
experience of private equity through Pamplona Capital Management,
investing across a range of sectors and geographies. He has also been an
active investor in a large number of early stage technology businesses.
Other members of the team are CFO Eva Sitbon and General Counsel Maarten
Scholten, who was the former General Counsel at Total.
Europe is at the forefront of this shift and can become a global
leader
The team has secured investment from some of Europe’s largest
institutions such as Bpifrance, Draper Esprit, the European Investment
Fund and Isomer Capital. Backers also include family offices and
established investors such as ex-World Bank CFO Bertrand Badré, founder
of Butler Capital Partners Walter Butler, former AXA CEO Henri de
Castries, Board member of Stena AB and co-founder of Heartflow Ventures
Marie Eriksson, Localglobe co-founder and former venture partner at
Index Ventures Robin Klein, serial entrepreneur and corporate social
responsibility pioneer Francois Lemarchand; and Former Chairman of
Wendel and CEO of Allegro Cantabile Frédéric Lemoine.
Walter Butler, Investor and Entrepreneur – Founder, Butler Industries
“By targeting the blind spots of the venture capital industry, Future
Positive Capital is uniquely positioned to identify the next wave of
leading European companies – those that can become global leaders while
solving important global needs. This is why it’s the first fund I have
invested in.”
Uli Grabenwarter, Deputy Director – Equity Investments at European
Investment Fund (EIF)
“Future Positive Capital is a pioneer for a new breed of venture
capital firms. New technologies are revolutionising our lives; it is now
the time for businesses to show how they can be used for responding to
the world’s biggest societal challenges. The team has brought together
change makers with the ambition of catalysing the pivotal businesses of
tomorrow on which the sustainability of our society ultimately will
depend.”
The team believes that Europe is at the forefront of this shift and can
become a global leader in commercializing scientific advances and
innovating in the global economy’s largest industries because of its
very prolific scientific community.
The Fund is supported by InnovFin Equity, with the financial backing of
the European Union under Horizon 2020 Financial Instruments and the
European Fund for Strategic Investments (EFSI) set up under the
Investment Plan for Europe. The purpose of EFSI is to help support
financing and implementing productive investments in the European Union
and to ensure increased access to financing.
About Future Positive Capital:
Future Positive Capital backs companies that use advances in artificial
intelligence, synthetic biology, genetics, and other deep technologies
to solve the world’s most pressing challenges such as sustainably
feeding the world’s growing population, combating climate change and
serving the ageing population. The London-and Paris-based team will
invest up to €100m of progressive capital at Seed and Series A across
Europe.
Find out more at www.futurepositivecapital.com
Important Disclaimer
This document has been prepared and issued by FPC for the sole purpose
of announcing to the public certain matters relating to its activities,
and not for the purpose of soliciting any investment from any person in
any jurisdiction. This document does not constitute any offer or
solicitation to purchase or subscribe for securities.
Contacts
Sayula Kirby
[email protected]
Indivior
Indivior Provides Update on Aelis Farma’s Clinical Phase 2B Study Results with AEF0117 in Participants with Cannabis Use Disorder
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (AS IT FORMS PART OF DOMESTIC LAW IN THE UK BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).
- Primary and Secondary End Points of the Study were Not Met
- Indivior Does Not Currently Expect to Exercise AEF0117 Option
SLOUGH, United Kingdom and RICHMOND, Va., Sept. 4, 2024 /PRNewswire/ — Indivior PLC (Nasdaq/LSE: INDV) is today providing an update following Aelis Farma’s announcement of the results from its clinical Phase 2B trial with AEF01171, evaluating the efficacy and safety in treatment-seeking participants with moderate to severe Cannabis Use Disorder (CUD). The purpose of this trial was twofold: (1) to show that AEF0117 (0.1, 0.3, 1 mg once a day for 12 weeks) lowers cannabis use and (2) to determine the endpoints and optimal dosage of AEF0117 for use in future studies. In this phase 2B study, patients were treatment-seeking participants, 84% of whom had severe CUD.
The results of the study demonstrated that the primary endpoint, the proportion of participants who reduced their cannabis use to ≤1 day per week, as well as secondary endpoints measuring the proportion of participants reaching either complete abstinence or who used ≤2 day per week, were not met. Although these results are disappointing, they indicate that significant work remains to be done to understand subpopulations of patients with CUD, specifically those with severe CUD.
This clinical Phase 2B study is part of the strategic collaboration between Aelis Farma and Indivior, which includes an exclusive option for Indivior to license the global rights to AEF0117. Given the lack of separation from placebo on primary and secondary endpoints and before seeing further additional favorable clinical data, Indivior does not currently expect to exercise its option.
Important Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that are forward-looking. Forward-looking statements include, among other things, express and implied statements regarding whether: we will be able to ultimately demonstrate the safety and efficacy of AEF0117, which is a prerequisite to filing any New Drug Application; we might ever exercise our option for AEF0117 and, if so, when; and other statements containing the words “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “forecast,” “strategy,” “target,” “guidance,” “outlook,” “potential,” “project,” “priority,” “may,” “will,” “should,” “would,” “could,” “can,” “outlook,” “guidance,” the negatives thereof, and variations thereon and similar expressions. By their nature, forward-looking statements involve risks and uncertainties as they relate to events or circumstances that may or may not occur in the future.
Actual results may differ materially from those because they relate to future events. Various factors may cause differences between Indivior’s expectations and actual results, including, among others, the risks described in our most recent annual report on Form 20-F beginning on page 9 as filed with the U.S. SEC and in subsequent releases; legal and market restrictions that may limit how quickly we can repurchaser our shares; the substantial litigation and ongoing investigations to which we are or may become a party; our reliance on third parties to manufacture commercial supplies of most of our products, conduct our clinical trials and at times to collaborate on products in our pipeline; our ability to comply with legal and regulatory settlements, healthcare laws and regulations, requirements imposed by regulatory agencies and payment and reporting obligations under government pricing programs; risks related to the manufacture and distribution of our products, most of which contain controlled substances; market acceptance of our products as well as our ability to commercialize our products and compete with other market participants; competition; the uncertainties related to the development of new products, including through acquisitions, and the related regulatory approval process; our dependence on third-party payors for the reimbursement of our products and the increasing focus on pricing and competition in our industry; unintended side effects caused by the clinical study or commercial use of our products; our ability to successfully execute acquisitions, partnerships, joint ventures, dispositions or other strategic acquisitions; our ability to protect our intellectual property rights and the substantial cost of litigation or other proceedings related to intellectual property rights; the risks related to product liability claims or product recalls; the significant amount of laws and regulations that we are subject to, including due to the international nature of our business; macroeconomic trends and other global developments such as armed conflicts and pandemics; the terms of our debt instruments, changes in our credit ratings and our ability to service our indebtedness and other obligations as they come due; changes in applicable tax rate or tax rules, regulations or interpretations and our ability to realize our deferred tax assets; and volatility in our share price due to factors unrelated to our operating performance or that may result from the potential move of our primary listing to the U.S.
Forward-looking statements speak only as of the date that they are made and should be regarded solely as our current plans, estimates and beliefs. Except as required by law, we do not undertake and specifically decline any obligation to update, republish or revise forward-looking statements to reflect future events or circumstances or to reflect the occurrences of unanticipated events.
This release is being made by Kathryn Hudson, Company Secretary Indivior PLC.
About Indivior
Indivior is a global pharmaceutical company working to help change patients’ lives by developing medicines to treat substance use disorders (SUD), overdose and serious mental illnesses. Our vision is that all patients around the world will have access to evidence-based treatment for the chronic conditions and co-occurring disorders of SUD. Indivior is dedicated to transforming SUD from a global human crisis to a recognized and treated chronic disease.
Building on its global portfolio of OUD treatments, Indivior has a pipeline of product candidates designed to both expand on its heritage in this category and potentially address other chronic conditions and co-occurring disorders of SUD. Headquartered in the United States in Richmond, VA, Indivior employs over 1,000 individuals globally and its portfolio of products is available in over 30 countries worldwide. Visit www.indivior.com to learn more. Connect with Indivior on LinkedIn by visiting www.linkedin.com/company/indivior.
References:
- National Library of Medicine (U.S.) (2022, April). Effect of AEF0117 on treatment-seeking patients with cannabis use disorder (CUD) (SICA2). Identifier
NCT05322941 https://www.clinicaltrials.gov/study/NCT05322941
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View original content:https://www.prnewswire.co.uk/news-releases/indivior-provides-update-on-aelis-farmas-clinical-phase-2b-study-results-with-aef0117-in-participants-with-cannabis-use-disorder-302237355.html
HERZLIYA, Israel and CALGARY, Alberta, Aug. 29, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce that it has completed its previously announced non-brokered private placement offering of 5,025,725 units of the Company (the “Units”) at a price of C$0.22 per Unit for gross proceeds of C$1,105,659.50 (the “Offering”).
Each Unit is comprised of: (i) one (1) common share in the capital of the Company (each a “Common Share”); and (ii) one (1) common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of C$0.32 for a period of four (4) years from the date of issuance.
Innocan intends to use the proceeds of the Offering for working capital and general corporate purposes.
The securities issued to Canadian subscribers in connection with the Offering are subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.
Iris Bincovich, Chief Executive Officer of the Company, stated “we are very pleased with our successful offering. I would like to extend my sincere gratitude to our investors for their unwavering support. We see this as a strong vote of confidence by both existing and new investors which demonstrates investor support of our vision and strategic direction. These new funds will provide us with additional working capital to enable us to capitalize on new opportunities and allow us to advance strongly on our growth plans.”
The Company is also pleased to announce that it has granted an aggregate of 300,000 stock options (each an “Option“) to certain consultants of the Company pursuant to the Company’s stock option plan (the “Plan“). Each Option may be exercised for one (1) common share in the capital of the Company (each, a “Share“) at a price of $0.25 per Share. The Options expire on August 27, 2029.
All Options granted vest in accordance with the following vesting schedule: (i) 1/3rd of the Options vested immediately at grant; (ii) 1/3rd of the Options will vest on February 28, 2025; and (iii) 1/3rd will vest on August 27, 2025; all subject to the terms and conditions of the Plan.
About Innocan Pharma:
Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/
Contact Information:
For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1 5162104025
+972-54-3012842
+442037699377
[email protected]
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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View original content:https://www.prnewswire.co.uk/news-releases/innocan-pharma-announces-closing-of-private-placement-and-grant-of-stock-options-302234455.html
Cannabis
Europe Medical Cannabis Market Forecast 2024-2032: Tilray, Aurora Cannabis, and GW Pharmaceuticals Dominate the Market Landscape
Dublin, Aug. 29, 2024 (GLOBE NEWSWIRE) — The “Europe Medical Cannabis Oil Market Size, Industry Dynamics, Opportunity Analysis and Forecast 2024-2032.” report has been added to ResearchAndMarkets.com’s offering.
The Europe Medical Cannabis Oil market is poised for significant growth, projected to escalate from US$ 0.91 billion in 2023 to US$ 2.40 billion by 2032, advancing at a CAGR of 12.08%. In this comprehensive research report, the market is analyzed by:
- Derivatives;
- Source;
- Application;
- Route of Administration;
- End-user;
- Distribution Channel; and
- Country.
Market Highlights Identified in the Report
- Progressive legalization across Europe is creating a favorable regulatory environment, enhancing market expansion for medical cannabis oil products.
- Germany leads the market with a robust infrastructure and supportive regulations, while other countries like the UK, Italy, and Spain show significant growth potential based on evolving regulatory landscapes and market dynamics.
- Key players such as Tilray, Aurora Cannabis Inc., and GW Pharmaceuticals dominate the market, emphasizing research, strategic partnerships, and innovation to maintain competitive edge amidst evolving industry dynamics.
The medical cannabis oil market has experienced substantial growth as legalization and acceptance of cannabis-based treatments expand globally. Cannabis oil, derived from the cannabis plant through extraction methods, contains cannabinoids such as THC and CBD, known for their therapeutic properties. Increasing recognition of cannabis oil’s potential in alleviating symptoms of various medical conditions, including chronic pain, epilepsy, and anxiety disorders, has driven its adoption in medical settings.
Governments in several countries are progressively legalizing medical cannabis, creating a conducive regulatory environment for market expansion. Additionally, growing consumer awareness about alternative and natural therapies has fueled the demand for cannabis oil products. The market is characterized by diverse product offerings, including full-spectrum and CBD-isolate oils, catering to different therapeutic needs and preferences.
Despite regulatory challenges and stigma associated with cannabis, the medical cannabis oil market continues to evolve, driven by ongoing research, favorable legislative changes, and shifting attitudes toward cannabis-based therapies in healthcare.
Regional Insights
Germany is likely to maintain its leadership position in the European medical cannabis oil market due to its established infrastructure, supportive regulations, and strong healthcare system. Germany legalized medical cannabis in 2017, giving the market a head start compared to many other European countries. This established infrastructure and experience position Germany as a leader in the field. As awareness and acceptance of medical cannabis increase, the number of patients seeking treatment in Germany is steadily rising. This fuels market growth and incentivizes further investment in research and development.
Germany’s regulatory framework for medical cannabis is considered relatively patient-friendly compared to some other European countries. This facilitates access for patients with qualifying conditions. The UK legalized medical cannabis in 2018 and is experiencing an increase in patient access programs. This, coupled with ongoing research, could lead to significant market growth. Italy legalized medical cannabis in 2006 but has faced challenges with availability. As regulations become more streamlined and patient access expands, the Italian market holds significant growth potential. Spain has a well-established medical cannabis industry with a focus on domestic production. As regulations evolve and export opportunities increase, the Spanish market could see a boost.
Competitive Landscape
The Medical Cannabis Oil market is characterized by a vigorous competitive landscape, with prominent entities like Tilray, Aurora Cannabis Inc., GW Pharmaceuticals, Almiral, Bedrocan, and others at the forefront, collectively accounting for approximately 41 % of the overall market share. This competitive milieu is fueled by their intensive efforts in research and development as well as strategic partnerships and collaborations, underscoring their commitment to solidifying market presence and diversifying their offerings.
The primary competitive factors include pricing, product caliber, and technological innovation. As the Medical Cannabis Oil industry continues to expand, the competitive fervor among these key players is anticipated to intensify. The impetus for ongoing innovation and alignment with evolving customer preferences and stringent regulations is high. The industry’s fluidity anticipates an uptick in novel innovations and strategic growth tactics from these leading corporations, which in turn propels the sector’s comprehensive growth and transformation.
Key Topics Covered
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Europe Medical Cannabis Oil Market
Chapter 4. Europe Medical Cannabis Oil Market Overview
Chapter 5. Europe Medical Cannabis Oil Market Analysis, by Derivatives
Chapter 6. Europe Medical Cannabis Oil Market Analysis, by Source
Chapter 7. Europe Medical Cannabis Oil Market Analysis, by Application
Chapter 8. Europe Medical Cannabis Oil Market Analysis, by Route of Administration
Chapter 9. Europe Medical Cannabis Oil Market Analysis, by End-user
Chapter 10. Europe Medical Cannabis Oil Market Analysis, by Distribution Channel
Chapter 11. Europe Medical Cannabis Oil Market Analysis, by Country
Chapter 12. The UK Medical Cannabis Oil Market Analysis
Chapter 13. Germany Medical Cannabis Oil Market Analysis
Chapter 14. The Netherlands Medical Cannabis Oil Market Analysis
Chapter 15. Italy Medical Cannabis Oil Market Analysis
Chapter 16. Spain Medical Cannabis Oil Market Analysis
Chapter 17. Poland Medical Cannabis Oil Market Analysis
Chapter 18. Rest of Europe Medical Cannabis Oil Market Analysis
Chapter 19. Company Profiles (Company Overview, Financial Matrix, Key Product Landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
A selection of companies mentioned in this report includes, but is not limited to:
- Aurora Cannabis Inc.
- Bedrocan
- Biocann
- BIOTA Biosciences LLC
- Cannamedical
- Mary Jane CBD
- Sanity Group GmbH
- Tilray
- Valcon Medical
For more information about this report visit https://www.researchandmarkets.com/r/dh7q46
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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