Prophylix Pharma AS
Prophylix Pharma develops a prophylactic treatment for the condition Neonatal Alloimmune Trombocytopenia (NAIT) in newborns. NAIT is caused by tissue incompatibility between a mother and her child and causes severe illness and often mortality in newborns. The planned treatment will be administered as a single dose injection to the mother immediately after delivery and the treatment has the potential to prevent development of NAIT in subsequent pregnancies. The technological basis of Prophylix Pharma comes from research at The University Hospital of North Norway and Ullevål University Hospital. Sarsia Seed is invested in Prophylix Pharma AS through a co-investment with the seed fund Norinnova Invest AS and Trond Mohn Foundation.
Prophylix Pharma assets were medio 2019 acquired by RallyBio Inc, a special purpose US Pharma company for the development of drugs targeting rare diseases, teamed up with an excellent and experienced team of managers and drug developers, and financed with 145 m$ by Pivotal bioVenture Partners, Viking Global Investors , TPG Capital, F-Prime Capital, Tekla Capital Management, Solasta Ventures, Fairview Capital, Mitsui & Co., 5AM Ventures, Canaan Partners, New Leaf Venture Partners and Connecticut Innovations. RallyBio expects to be entering clincal trials in Germany late 2020.
Details regarding deal financials will not be disclosed, however under the terms of the agreement, Prophylix has received an upfront payment, is eligible for development milestones, a percentage of the value of a PRV(Priority Review Voucher), and single to low double digit tiered royalties on a substantial sales volume.