The latest news from Cytovation.
Cytovation completes NOK 30m financing round to progress CyPep-H1 through Phase I/IIa clinical study in cutaneous warts
BERGEN, NORWAY, 8th January 2018 – Cytovation AS, a privately held biotech company developing CyPep-H1 for the treatment of cutaneous warts, announces it has raised NOK 10m in a private funding round, completing the second stage of fundraising, having raised NOK 20m in June 2017. Both financings were led by a group of private investors in Norway and the Company will now use these funds to advance lead product CyPep-H1 through the final stages of pre-clinical development and into and through a Phase I/IIa clinical trial in patients with warts caused by the human papilloma virus (HPV).
Cytovation is developing CyPep-H1 as a topical formulation of its proprietary lytic peptide, CyPep. CyPep is a highly-stable, purpose-engineered peptide, consisting of 27 amino acids, that selectively targets transformed or infected cells, destroying the cell membrane and killing the cells. The release of antigens from the lysed cells also triggers an immune response against the diseased cells, providing the possibility of long-term protection against warts.
The mode-of-action of CyPep presents a completely novel strategy to treat this common and potentially debilitating condition. Based on this mechanism, the Company believes that CyPep can have a number of applications in dermatological diseases, with CyPep-H1, for the treatment of cutaneous warts, being the first candidate under development. The Company is also investigating the potential of CyPep-derived peptides for the treatment of certain cancers.
Cytovation’s CEO, Kjell Inge Arnevig, commented on the financing: “The completion of this final tranche of fundraising now enables Cytovation to move through toxicology studies and formulation and into our planned Phase I/IIa clinical trial for CyPep-H1. We expect initial results from this study late 2018 and are confident that they will confirm the potential of this novel treatment approach for the many largely unsatisfied patients globally, who suffer from cutaneous warts.”
Cytovation announces private fundraising round of NOK 20m to progress CyPep-1 to Phase 1 clinical study
BERGEN, NORWAY, 29th June 2017 – Cytovation AS, a privately held biotech company developing CyPep-1 for the treatment of skin disorders, announces it has raised NOK 20m in a private funding round. The financing was led by a group of private investors in Norway and the Company will use these funds to advance lead product CyPep-1 into a Phase I clinical trial.
Cytovation is developing CyPep-1, a peptide consisting of 27 amino acids that selectively targets cutaneous warts through the destruction of the cell membrane and creating an immune response through the release of antigens. These funds will enable Cytovation to conduct pre-clinical toxicology studies and GMP manufacturing of CyPep-1 as a topical cream for the treatment of warts caused by the human papilloma virus (HPV). This is a completely novel treatment strategy to treat a common disease which has already undergone extensive testing and quality control and also has applications in other dermatological diseases.
Cytovation’s CEO, Kjell Inge Arnevig, commented on the financing: “We have been encouraged by the continuing support of our new and existing investors. These funds will allow us to move through toxicology studies and formulation towards our planned Phase I clinical trial for CyPep-1 with initial results expected during 2018.”
Cytovation announces appointment of Ole-Erik Iversen as Scientific Advisor
BERGEN, NORWAY, 20 January 2017 – Cytovation AS, a privately held biotech company developing CyPep-1 for the treatment of skin disorders announces the appointment of Professor Ole-Erik Iversen as Scientific Advisor.
Professor Iversen has been Professor of Gynecology & Obstetrics at University of Bergen since 1992, having previously held positions at the Department of Surgery at Molde Hospital; the Department of Gynecology & Obsetrics at Haukeland Hospital (University of Bergen); and was Research Fellow of The Norwegian Cancer Society (1984-1986).
Since 2000 he has been Principal Investigator (Norway) for several Phase II and III clinical trials for Merck and GSK (Gardasil and Cervarix). From 2007 he was also Member of Merck Scientific Advisory Committee on Second Generation HPV vaccines (Gardasil 9). He is currently Advisor to the Health Directorate and Norwegian Cancer Registry on use of HPV testing in triage and primary screening to replace cytology.
Cytovation CEO Kjell Inge Arnevig said: “We are pleased to welcome Professor Iversen to Cytovation. He joins the Company at an exciting time, with lead candidate CyPep-1 currently in pre-clinical development for the treatment of warts caused by the HPV virus. We are confident that Professor Iversen’s extensive experience in HPV vaccines will assist Cytovation to achieve its goals.”
Cytovation announces two key appointments to the management team
BERGEN, NORWAY, 3rd October 2016 – Cytovation AS, a privately held biotech company developing CyPep-1 for the treatment of skin disease, announces the appointment of two key members to the Cytovation team. Raj Airey joins as Venture Developer and Federico Grego as Strategic Counsel.
Raj Airey is a venture developer and investor with extensive experience in health sector and senior leadership roles with-in blue chip multi-nations like Pfizer (NYSE PFE) and Baxter ( NYSE: BAX ). He has been an entrepreneur building business from concept to reality and has founded several companies and exited two in healthcare and been involved in many fund raising and licensing deals across the globe. Raj brings 28 years of operating experience in healthcare industries in many global locations which include including UK, Belgium, Hungary, Slovakia, Poland, Spain and India/SEA. He has considerable track record of turnarounds and building successful organisations in fast moving environments. He conceived and found Wizzcare Home Health Solutions a pioneer in home care and telehealth company in India which was sold to Indian’s leading E health business. He also co-founder in India's first Healthcare accelerator (www.healthstart.co.in) which has invested extensively in portfolio Mhealth companies and some of which these is active board member and mentor. Raj holds BSc from London University and Executive education from Harvard and Insead.
Federico Grego has close to 20 years of professional experience gained in the bio-pharmaceutical and banking industries. In the bio-pharma sector, his key areas of responsibility have included Marketing & Sales, Business Development, Innovation Management, and General Management, both in early-stage and larger company settings, in Europe and the U.S. He brings very relevant experience acquiring and integrating start-ups into larger companies, and also successfully negotiating and managing out-licensing deals to global big pharma players. His advisory role at Cytovation complements his executive responsibilities as CEO of Spire Bioventures and other advisory roles at several early-stage companies. Mr. Grego holds a BA from Tufts University, an MBA from IESE Business School, and an AMP from Harvard Business School.
CEO of Cytovation, Kjell Inge Arnevig, said: “We are pleased to welcome Federico and Raj to the Cytovation management team. We are thrilled to have them both join the team at this exciting time in Cytovation’s developement. Both have an impressive track record and extensive experience in the sector, which we are confident will help Cytovation achieve its goals.”
Cytovation granted EU patent for its lead product, CyPep-1, for the treatment of cutaneous warts
Bergen, Norway – July 2016 – Cytovation, focused on the treatment of dermatological diseases, announced that it has been granted a patent across Europe for the use of its lead product, CyPep-1.
CyPep-1 has already been granted patents covering its use in the USA, China and Japan. CyPep-1 is currently in pre-clinical development for the treatment of cutaneous warts caused by human papilloma virus (HPV) and has applications in other dermatological diseases. CyPep-1 is a first-in- class peptide consisting of 27 amino acids with a unique mechanism that rapidly and selectively targets wart cells infected with human papilloma virus due to a negative charge on their cell membranes not found on healthy cells.
Kjell-inge Arnevig, CEO of Cytovation, commented: “We are delighted to have received this additional patent protection for the use of CyPep-1 in Europe. CyPep-1 has applications in multiple dermatological diseases and is poised to enter toxicology studies later this year for the treatment of cutaneous warts. ”
Cytovation welcomes new CEO
BERGEN, NORWAY, 1 September 2014 – Cytovation AS, a privately held biotech company developing CyPep-1 for the treatment of skin disease, announces the appointment Kjell Inge Arnevig as its Chief Executive Officer. Kjell-Inge Arnevig has more than 25 years’ experience in senior and executive positions. Hi background is in transport and logistic and wholesale. From 1997-2002 Mr. Arnevig was CEO of an international fish farming equipment business with operations across two continents. Prior to this he was a private investor for 5 years. He was also general manager for an international Oil & Gas process equipment provider with special focus on Europe and the Middle-East and spent the last three years as Managing Director and CEO in Biotech and health related business. He studied Finance) at University of Bergen, and has a Bachelor’s degree from the Norwegian School of Management.
CEO of Cytovation, Kjell Inge Arnevig, said: “I am pleased to be joining Cytovation at this exciting time for the company. I am looking forward to supporting the development of Cytovation going forward, and I relish the opportunity to shape and drive the company’s vision and growth.”
Find out where Cytovation will be in the coming months.
Identification of a novel lytic peptide for the treatment of solid tumors
(Genes&Cancer 5(5-6):186-200, 2014) Claudia Czczepanski, Olav Tenstad, Anne Bauman, Aurora Martinez, Reidar Myklebust, Rolf Bjerkvig and Lars Prestegarden