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Financing › Details

Sofie Biosciences–SEVERAL: investment, 202011 financing round Series C $27.4m led by Jubilant Pharma with $25m plus 3 other investors

 

Period Period 2020-11-04
Organisations Money taker Sofie Biosciences Inc.
  Money source SEVERAL
Products Product RADIOPHARMACEUTICAL
  Product 2 theranostics (Tx)
     

Sofie Biosciences, Inc.. (11/4/20). "Press Release: Sofie Biosciences Inc. (SOFIE) Concludes $27.4m Series C Financing". Dulles, VA.

SOFIE, whose vision is to improve patient outcomes by developing and delivering molecular diagnostics and therapeutics, announced today the completion of a $27.4m Series C financing of the company, led by Jubilant Pharma and syndicated by three other investors.

Patrick Phelps, SOFIE’s President and Chief Executive Officer stated, “With this investment and strategic partnership, SOFIE is excited to meet the growing need to manufacture highly specialized radiopharmaceuticals, as well as become the first theranostic production center for FAPI in the US. FAPI has received worldwide acclaim for its value as a key next-generation theranostic agent with the ability to greatly enhance the detection and treatment of disease, and we believe with Jubilant Radiopharma’s investment and support, we can accelerate the development and commercialization of this exciting family of compounds.”

Philipp Czernin, SOFIE’s Chief Revenue Officer, remarked, “By engaging a well-established industry partner such as Jubilant Radiopharma, SOFIE will leverage the combined market presence and astute organizational structure to deliver breakthrough compounds to the nuclear medicine community. With their respective distribution capabilities and the highly complementary product portfolio of SPECT and PET radiopharmaceuticals, our companies are well poised to create a single-vendor opportunity in select geographies.”

To read the full press release click here.

https://www.jubilantradiopharma.com/newsdetails.aspx?mpgid=1491&newsid=473&pgid=1491



Jubilant Radiopharma and SOFIE Biosciences Ink Strategic Partnership Deal to Further Advance the Field of Molecular Imaging & Therapeutics

Yardley, PA and Dulles, VA – November 4, 2020. SOFIE Biosciences, Inc. (“SOFIE”), an established radiopharmaceutical supplier and worldwide radiopharmaceutical contract manufacturing organization, and Jubilant Radiopharma, a business division of Jubilant Pharma Limited announced that both the organizations have entered into a strategic partnership. Under the terms of the partnership, Jubilant Pharma, via one of its wholly owned subsidiaries, with 25% of equity holding shall be a strategic partner to SOFIE, enabling SOFIE to continue to grow production capacity, advance its theranostic pipeline, and support novel PET diagnostic manufacturing and distribution within the U.S.

“SOFIE is a beacon of innovation, and with Jubilant’s deep experience, uncompromised quality and customer-centric operations, we will bring game-changing theranostic solutions to nuclear medicine” stated Sergio Calvo, President of Jubilant’s Radiopharmaceuticals Division.

“With this new relationship, SOFIE achieves another milestone in our innovation strategy” Philipp Czernin, SOFIE’s Chief Revenue Officer, remarked. “By engaging a well-established industry partner such as Jubilant Radiopharma, SOFIE will leverage the combined market presence and astute organizational structure to deliver breakthrough compounds to the nuclear medicine community. With respective distribution capabilities and the highly complementary product portfolio of SPECT and PET radiopharmaceuticals, both companies are well poised to create a single-vendor opportunity in select geographies.”

As part of the agreement, Jubilant Radiopharma will invest US$25m into SOFIE Biosciences. This funding will help accelerate the readiness timelines for SOFIE’s state-of-the-art Theranostics Center of Excellence Manufacturing Facility in Totowa, New Jersey, as well as advance the development of their Fibroblast Activation Protein Inhibitor (FAPI) program. Patrick Phelps, SOFIE’s President and Chief Executive Officer stated “Under this strategic partnership, SOFIE is excited to meet the growing need to manufacture highly specialized radiopharmaceuticals, as well as become the first theranostic production center for FAPI in the US. FAPI has received worldwide acclaim for its value as a key next-generation theranostic agent with the ability to greatly enhance the detection and treatment of a wide variety of oncology diseases, and we believe with Jubilant Radiopharma’s investment and support, we can accelerate the development and commercialization of this exciting family of compounds.”

“This agreement is yet another demonstration of Jubilant Radiopharma’s long term commitment to the global Nuclear Medicine community. Our teams are dedicated to bringing to market the next generation of breakthrough products and industry leading services to healthcare providers across the globe as part of our mission of Improving Lives Through Nuclear Medicine,” stated Pramod Yadav, CEO Jubilant Pharma Limited.


About SOFIE Biosciences, Inc

SOFIE’s vision is to improve patient outcomes by developing and delivering molecular diagnostics and therapeutics (Theranostics). With its robust radiopharmaceutical production and distribution network, mature contract manufacturing services, and now, high value Theranostic intellectual property, SOFIE is poised to deliver on the promise of nuclear medicine.

For further information about About SOFIE Biosciences, Inc
E-mail: info@sofie.com
Visit our website @ https://sofie.com


About Jubilant Pharma Limited

Jubilant Pharma Limited (JPL), a company incorporated under the laws of Singapore and a wholly-owned subsidiary of Jubilant Life Sciences Limited, is an integrated global pharmaceutical company engaged in manufacturing and supply of APIs, Solid Dosage Formulations, Radiopharmaceuticals, Allergy Therapy Products and Contract Manufacturing of Sterile Injectables and Non Sterile products through six US FDA approved manufacturing facilities in the US, Canada and India and a network of 49 radiopharmacies in the US. The Company has a team of around 5,200 multicultural people across the globe and is committed to deliver value to its customers spread across over 75 countries. It is well recognized as a 'Partner of Choice' by leading pharmaceutical companies globally.


About Jubilant Radiopharma

Jubilant Radiopharma, Radiopharmaceutical Division of Jubilant Pharma Ltd., is an industry-leading radiopharmaceutical business focused on developing, manufacturing, commercializing and distributing high quality and sustainable diagnostic and therapeutic agents for the sole purpose of “Improving Lives Through Nuclear Medicine” on a global scale. The company is the market leader in North America for I-131 products (diagnosis and treatment of thyroid disorder and cancer), MAA (lung perfusion imaging), DTPA (renal, brain imaging) and MDP (bone imaging), and also markets other products such as Sestamibi (myocardial perfusion imaging), Gluceptate (brain and renal imaging), and Rubidium-82 Generator (PET Cardiology).

For further information about Jubilant Radiopharma
E-mail: robert.sgroi@jubl.com (Robert Sgroi, Director of Marketing)
Visit our website @ www.jubilantradiopharma.com

For further information about Jubilant Pharma Limited
E-mail: hemant.bakhru@jubl.com (Hemant Bakhru, Head - Investor Relations)
Visit our website @ www.jubilantpharma.com

   
Record changed: 2020-11-09

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