LONDON – 25 September 2017 – SpringWorks Therapeutics, a new company that aims to progress promising investigational therapies to help patients with unmet medical needs, has launched today. The company is a collaboration between LifeArc (the UK medical research charity formerly known as MRC Technology), Pfizer, Bain Capital Life Sciences, Bain Capital Double Impact and OrbiMed.
SpringWorks Therapeutics will develop new medicines in various therapeutic areas, focusing on diseases where there is an urgent need and the greatest potential to make a positive change for patients.
Pfizer has out-licensed four experimental therapies to SpringWorks, which could lead to new treatments for desmoid tumours, neurofibromatosis, hereditary xerocystosis and post-traumatic stress disorder.
Lara S. Sullivan, President of SpringWorks Therapeutics and a former Vice President at Pfizer, said, “We have initially licensed rights to four very promising experimental therapies and, over time, plan to expand our pipeline by partnering with other life science companies and academic institutions who share in our mission.”
Creating collaborations to progress new treatments is at the core of LifeArc’s new strategy to make a greater impact for patients through the application of science.
“There is a critical need for new treatments, and by working together we can identify sound scientific projects that have stalled for various reasons and progress them into new drugs. LifeArc has successfully fostered collaborations to progress new therapies for neurodegenerative diseases, and we are pleased to apply this experience to help more patients benefit from medical science advances,” said Mike Johnson, Executive Director, Business Development at LifeArc.
LifeArc launched the Neurodegeneration Medicines Acceleration programme in 2014, a consortium aimed at uncovering promising drugs in pharma libraries and develop them towards clinical trials. The charity also launched the Dementia Consortium with charity and pharma partners; the Consortium is currently progressing five projects to find much needed new treatments for the millions of people affected.
SpringWorks was launched with $103 million Series A funding from its partners.
Read the launch news release.
Notes to editors
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About SpringWorks Therapeutics
SpringWorks Therapeutics is a mission-driven medicines company dedicated to developing innovative potential new treatments for underserved patient communities. The company’s collaborative business model is designed to deliver both social and financial returns via partnerships with a variety of stakeholders, including scientists, biopharmaceutical partners, patient groups, funders and philanthropists. For more information, please visit www.springworkstx.com.
LifeArc is the new name for MRC Technology, a medical research charity with a 25 year legacy of helping scientists and organisations turn their research into treatments and diagnostics for patients.
LifeArc is pioneering new ways to turn great science into greater patient impact. Its proven business model of collaboration, including Dementia Consortium and Neurodegeneration Medicines Acceleration Programme, brings together pharma, non-profits and research groups to advance medicines to patients.
The charity has dedicated laboratories in Stevenage (UK) where around 80 scientists work on antibody and small molecule projects, while the Edinburgh lab progresses diagnostics development.
So far, LifeArc’s work has helped to develop four drugs (Keytruda®, Actemra®, Tysabri® and Entyvio®) and a test for antimicrobial resistance.
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About Pfizer Inc.: Working together for a healthier worldTM
At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products. Our global portfolio includes medicines and vaccines as well as many of the world’s best-known consumer health care products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world’s premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at www.pfizer.com. In addition, to learn more, please visit us on www.pfizer.com and follow us on Twitter at @Pfizer and @Pfizer_News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer.
About Bain Capital Life Sciences
Bain Capital Life Sciences (www.baincapitallifesciences.com) pursues investments in biopharmaceutical, specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies globally. The team focuses on companies that both drive medical innovation across the value chain and enable that innovation to improve the lives of patients with unmet medical needs. Since 1984, Bain Capital has developed global reach, deep expertise and a proven track record in life sciences industries across its Private Equity, Credit, Public Equity and Venture business units. Bain Capital Life Sciences builds on the differentiated skillset and enables the firm to pursue opportunities created by several long-term trends in healthcare.
About Bain Capital Double Impact
Bain Capital Double Impact (www.baincapitaldoubleimpact.com) is an affiliate of Bain Capital, a leading global private investment firm. Bain Capital Double Impact utilizes Bain Capital’s proven, deep diligence, value-added approach to build great companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact focuses on sustainability, health & wellness, and community building to create long-term value and meaningful impact at scale. Its goal is to enable the next phase of financial and impact growth for our partner companies, which are solving critical social problems, and doing so profitably. We believe that our value-added approach, experienced team, and broad platform expertise will help our partner companies to thrive.
OrbiMed is a leading healthcare investment firm, with over $14 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, utilizing a range of private equity funds, public equity funds, and royalty/credit funds. OrbiMed maintains offices in New York City, San Francisco, Shanghai, Mumbai and Herzliya. OrbiMed seeks to be a capital provider of choice, providing tailored financing solutions and global team resources and support to help build world-class healthcare companies.