Prometheus Biosciences Announces $130 Million Financing to Advance Precision Medicines for the Treatment of Inflammatory Bowel Disease

New investors include Eventide, RTW, Perceptive Advisors, Cowen Healthcare Investments, Cormorant Capital, and Point72

-Proceeds to accelerate clinical development of PRA023, a potential best in class TL1A antibody for IBD, and expansion of Prometheus’ 360 platform –

SAN DIEGO, November 9, 2020 /PRNewswire/ —  Prometheus Biosciences, Inc. (“Prometheus”), a biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the diagnosis and treatment of inflammatory bowel disease (IBD), today announced the completion of a $130 million equity financing led by Eventide Asset Management and RTW Investments, LP.  Additional new investors include Perceptive Advisors, Cowen Healthcare Investments, Cormorant Capital, Point72 Asset Management and Irving Investors, with participation from existing investors Ascend Global Investment Fund, Cedars-Sinai Medical Center and Nestlé SA.  In connection with the financing, Joy Ghosh, Ph.D. of Eventide Asset Management and Adam Stone of Perceptive Advisors will be joining the Prometheus Board of Directors. 

“We are pleased to have the support of such outstanding investors who share our dedication and vision to build the world’s leading precision medicine company for IBD,” said Mark McKenna, President and CEO of Prometheus.  “We are now well-positioned to advance the clinical development of our lead antibody program targeting TL1A-associated IBD and grow our emerging pipeline of precision medicine programs designed to deliver life-changing outcomes for patients.”

“The IBD treatment landscape has seen limited innovation to date despite an enormous effort to unlock benefit from traditional therapeutic approaches. Prometheus has the potential to disrupt the space with its precision medicine approach as well as its genotype-phenotype Prometheus 360 drug discovery platform designed to create novel IBD medicines to benefit patients,” said Joy Ghosh, Ph.D. of Eventide Asset Management.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc. is a privately held biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of IBD. The company’s precision medicine platform, Prometheus 360, combines proprietary bioinformatics discovery methods with one of the world’s largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is guided by its board of directors, led by Chairman Tachi Yamada, M.D., and a scientific advisory board composed of key opinion leaders in IBD, including Stephan Targan, M.D., William Sandborn, M.D. and Dermot P. McGovern, M.D., Ph.D.  In addition, Prometheus has entered into collaborations to develop targeted therapies for IBD.

Prometheus maintains its headquarters in San Diego, CA.  For more information about Prometheus, please visit  www.prometheusbiosciences.com.

Contacts:

Investor Relations and Media Contact
Juniper Point
Amy Conrad, (858) 914-1962
IR@prometheusbiosciences.com

Prometheus Biosciences Appoints Olivier Laurent, Ph.D. as Chief Technology Officer

SAN DIEGO, September 29, 2020 /PRNewswire/ — Prometheus Biosciences, Inc., (“Prometheus”) a biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of inflammatory bowel disease (IBD), announced today the appointment of Olivier Laurent, Ph.D. as Chief Technology Officer.  In his new role, Dr. Laurent will serve on the executive management team and will lead the company’s early stage discovery initiatives.

“Dr. Laurent’s success in designing and developing biopharmaceuticals products across multiple therapeutic areas, including recombinant proteins and antibodies, is well aligned with our needs as we grow our GI medicines pipeline and our business,” said Mark McKenna, President and Chief Executive Officer, Prometheus Biosciences.  

Dr. Laurent commented, “Prometheus is a remarkably innovative company, leading the application and advancement of precision medicine to address major unmet medical needs in GI diseases.  I’m excited to join the company during this critical time period, and I look forward to helping broaden Prometheus’ portfolio of programs.”

Prior to joining Prometheus, Dr. Laurent most recently served as Chief Scientific Officer at Intrepida Bio, an immuno-oncology company focused on developing novel antibodies for the treatment of solid tumors.  Prior to this position, Dr. Laurent spent twenty years designing and developing biopharmaceuticals at companies including Sanofi, Bayer HealthCare, Genentech, Pfizer, CovX (acquired by Pfizer in 2008) and Ambrx (acquired by a Chinese consortium in 2015). Dr. Laurent holds numerous patents in the field of biotherapeutics and has contributed to multiple antibody regulatory dossiers. Dr. Laurent holds a Ph.D. in Cell Biology from the University of Grenoble in France and is an alumnus of the École Normale Supérieure de Lyon.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc. is a privately held biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of IBD. The company’s precision medicine platform, Prometheus 360, combines proprietary bioinformatics discovery methods with one of the world’s largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets.  Leveraging its expertise in the field and cutting-edge technologies, Prometheus has formed key partnerships to develop targeted therapies for IBD. 

Prometheus maintains its headquarters in San Diego, CA.  For more information about Prometheus, please visit  www.prometheusbiosciences.com.

Contact:

Investor Relations and Media Contact
Juniper Point
Amy Conrad
(858) 914-1962
amy@juniper-point.com

Prometheus Biosciences and Dr. Falk Pharma GmbH Announce Global Collaboration Agreement to Develop and Commercialize a Novel IBD Antibody

-Prometheus to receive an upfront payment and payments upon achievement of several milestones expected within the next 12 months

-Falk to pay 25% of global development costs of IBD program-

-Falk to leverage the Prometheus 360™ platform to create next-generation IBD precision medicines-


SAN DIEGO and FREIBURG, Germany, Aug. 13, 2020 /PRNewswire/ — Prometheus Biosciences, Inc., (“Prometheus”) a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with significant unmet medical needs in inflammatory bowel disease, and Dr. Falk Pharma GmbH (“Falk”) announced today that they have entered into an agreement to develop and commercialize PR600, Prometheus’ cell signaling program that targets a receptor of the tumor-necrosis factor superfamily for the treatment of IBD.  PR600 was discovered through Prometheus’ proprietary precision medicines platform, Prometheus 360™, and is currently in preclinical development.  

Under the terms of the agreement, Prometheus and Falk will share responsibility for the global development of PR600, with Falk contributing one-quarter of the costs associated with developing PR600 and its companion diagnostic from preclinical stage through commercial launch. Falk will exclusively commercialize PR600 in Europe, Australia and New Zealand, and Prometheus is eligible to receive royalty payments on those sales; Prometheus retains all commercialization rights in the U.S. and rest of world.   

“Dr. Falk Pharma GmbH is a recognized global leader in developing and commercializing GI drugs and we are thrilled to partner with them to advance PR600 toward the clinic and eventually to patients,” said Mark McKenna, President and Chief Executive Officer, Prometheus Biosciences. “This global partnership represents further validation of our Prometheus 360™ precision platform and enables Prometheus to potentially bring benefit to IBD patients across the globe, while building significant value for our stakeholders. We have great respect for Falk and their development and commercialization expertise and we look forward to working closely with them to execute on our shared vision for PR600.”

“We believe that one of the best uses of our resources is to invest in cutting-edge science and companies that will significantly change the IBD medicines treatment landscape. This global collaboration combines Prometheus’ emerging IBD medicines platform technology with Falk’s extensive development and commercialization expertise,” said Roland Greinwald, Managing Director Medicine & Pharmaceutics, Dr. Falk Pharma GmbH.  “We look forward to working with Prometheus to advance PR600, a novel precision antibody, for the treatment of patients suffering with IBD.”

Under the terms of the agreement, Prometheus Biosciences will receive an undisclosed initial upfront payment from Falk and is eligible to receive further payments in the first year upon achievement of certain development program milestones. Prometheus anticipates that the company will file an Investigational New Drug Application with the U.S. Food and Drug Administration by the end of 2022.

About Dr. Falk Pharma GmbH

Dr. Falk Pharma GmbH specializes in the development and marketing of pharmaceuticals used in hepatology and gastroenterology. Falk is one of the leading European companies in the field marketing its products by means of subsidiaries in selected countries and a network of sales partners. Further, the Falk Foundation, an independent organization associated with Dr. Falk Pharma, is well-known for its international symposia, forums and educational literature supporting medical doctors, patients and their families.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc. is a privately-held biopharmaceutical company focused on the discovery, development, and commercialization of novel precision therapeutics and companion diagnostics for patients living with significant unmet medical needs in inflammatory bowel disease. The company’s precision medicines platform, Prometheus 360™, combines proprietary bioinformatics discovery methods and companion diagnostic tools and has generated a large pipeline of therapeutics in development for the treatment of IBD.  

Prometheus maintains its headquarters in San Diego, CA.  For more information about Prometheus, please visit  www.prometheusbiosciences.com.

Contacts:

Investor Relations and Media Contact
Juniper Point
Amy Conrad, (858) 914-1962
amy@juniper-point.com

Prometheus Biosciences Appoints Keith W. Marshall as Chief Financial Officer

Prometheus Biosciences Appoints Keith W. Marshall as Chief Financial Officer


SAN DIEGO, August 4, 2020 /PRNewswire/ — Prometheus Biosciences, Inc., (“Prometheus”) a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with Inflammatory Bowel Disease (IBD), announced today the appointment of Keith Marshall, Ph.D., MBA as Chief Financial Officer.  Mr. Marshall will serve on the executive management team and will lead the company’s finance and investor relations functions. 

“Keith is a highly accomplished executive with extensive experience across healthcare strategy, life sciences investment banking, and business development,” said Mark McKenna, President and Chief Executive Officer, Prometheus Biosciences. “His financial leadership experience and strong scientific acumen will add significant value to the company as we enter the next phase of Prometheus’ growth.”

Mr. Marshall commented, “Prometheus’ precision approach to developing novel therapies for GI diseases through its Prometheus 360 platform is truly unique.  The company’s strong leadership team, recognized founders and partners, and commitment and potential to transforming the IBD treatment paradigm make this a compelling opportunity.  I look forward to joining the team at this pivotal moment in Prometheus’ journey, and being a part of the company’s bright future.”

Prior to joining Prometheus, Mr. Marshall was Executive Vice President, Chief Operating Officer and Chief Financial Officer of Conatus Pharmaceuticals (Nasdaq: CNAT) since 2017.  Prior to Conatus, he served as Chief Financial Officer and Head of Corporate Development  at Torque Therapeutics (now Repertoire Immune Medicines), a Flagship Pioneering company.  Mr. Marshall also served as Managing Director in Healthcare Investment Banking at GCA Savvian Advisors, Managing Director, Co-founder, and Chief Financial Officer at Montgomery, Marshall Healthcare Partners, and Managing Director of Healthcare Investment Banking at Montgomery & Co. He began his career in investment banking at JP Morgan.

Mr. Marshall holds an MBA from the University of Chicago – Booth School of Business, a Ph.D. in Pharmaceutical Chemistry from the University of California, San Francisco and an A.B. in Biology from Washington University in St. Louis.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc. is a privately-held biopharmaceutical company focused on the discovery, development, and commercialization of novel precision therapeutics and companion diagnostics for patients living with Inflammatory Bowel Disease (IBD). The company’s precision medicines platform, Prometheus 360, combines proprietary bioinformatics discovery methods with companion diagnostics and has generated a large pipeline of therapeutics in development for the treatment of IBD.  Due to its expertise in the field and cutting-edge technologies, Prometheus has formed several partnerships to develop targeted therapies for inflammatory bowel disease. 

Prometheus maintains its headquarters in San Diego, CA.  For more information about Prometheus, please visit  www.prometheusbiosciences.com.

Contacts:

Investor Relations and Media Contact
Juniper Point
Amy Conrad, (858) 914-1962
amy@juniper-point.com

Vika Brough

Ms. Brough has over fifteen years of experience in public and private accounting roles. She started her career as an auditor at Ernst & Young Assurance practice in San Diego, California.  During the ten years as an auditor, Ms. Brough served many multinational public and private clients in life science, medical devices and technology industries.  After Ernst & Young, Ms. Brough was Head of Finance at Human Longevity, Inc., a genomics-based company in San Diego, where she oversaw financial planning, accounting, treasury and procurement functions. Ms. Brough graduated from the San Diego State University with a Bachelor of Accounting degree.

2019

Precision IBD acquires Prometheus Labs to form Prometheus Biosciences

2019

Precision IBD nominates first clinical candidate mAb, PR200