TAMPA, Fla. and NEW YORK, March 17, 2021 /PRNewswire/ — M2GEN at the moment introduced a big new funding by Clayton, Dubilier & Rice (“CD&R”) funds, the Merck World Well being Innovation Fund (“Merck GHI”), and McKesson Ventures to recapitalize M2GEN, a number one oncology knowledge and informatics platform targeted on remodeling most cancers care, in partnership with its current shareholders. The monetary phrases of the transaction, which closed at the moment, weren’t disclosed.
Merck GHI and McKesson Ventures invested alongside CD&R funds, collectively now the corporate’s largest shareholder. Current shareholders Moffitt Most cancers Heart, Hearst Healthcare, and The Ohio State College Basis proceed to carry a big minority curiosity M2GEN. Proceeds from the transaction are anticipated to speed up progress of M2GEN’s consented, linked medical and genomic knowledge asset and advance the know-how and informatics capabilities of the corporate. At the side of the recapitalization, Sandra E. Peterson, CD&R Working Companion and former Group Worldwide Chairman of Johnson & Johnson, has assumed the function of Chair of the M2GEN board.
At the side of the transaction, M2GEN will bolster its current senior administration crew led by President and CEO Helge Bastian, Ph.D., with two skilled govt hires: Todd Johnson, M.D., most lately Senior Vice President of Life Sciences Commercialization and Scientific Analysis Teams at Optum, as Chief Progress Officer, and Wilf Russell, a seasoned know-how chief with expertise from firms together with Volvo, Nike, and Microsoft, as Chief Expertise Officer.
M2GEN runs one the world’s largest observational analysis research in most cancers, which tracks sufferers all through their lifetime, hyperlinks longitudinal medical knowledge with molecular data, and permits a deeper understanding of a affected person’s illness. M2GEN has established one of many largest and most complete linked medical and genomic databases within the nation, empowering progressive, collaborative most cancers analysis and supporting the event of novel oncology medicine by its biopharmaceutical companions.
M2GEN’s knowledge platform consists of greater than 300,000 sufferers throughout its alliance of main most cancers analysis facilities, referred to as the Oncology Analysis Data Trade Community® (ORIEN®). ORIEN members profit by collaborative analysis and shared knowledge; M2GEN’s biopharmaceutical companions profit by entry to the community and a dataset that helps medical trial design, affected person recruiting and new remedy improvement; and the last word beneficiaries are sufferers, as this course of informs new drug therapy choices.
“M2GEN is purpose-driven and patient-centric, and we consider it would affect healthcare for the subsequent technology by connecting sufferers, suppliers, researchers, and pharma R&D to basically change the best way most cancers is studied and handled,” mentioned Sarah Kim, CD&R Companion. “CD&R has spent important time evaluating the real-world knowledge market inside pharma companies and sees an incredible alternative to hitch forces with an distinctive group of shareholders to assist M2GEN’s subsequent part of progress, drive operational excellence, and additional its mission to attach sufferers to a treatment by accelerating the invention, improvement and supply of extra customized therapies.”
“Merck GHI intently tracked M2GEN for a few years by our analysis colleagues’ collaborations first with Moffitt Most cancers Heart after which with M2GEN’s spin-out from Moffitt,” mentioned David M. Rubin, Ph.D., Managing Director, Merck GHI. “This syndicated funding will assist the construct of scaled sources which have the potential to allow the event of recent medicines and precision most cancers care.”
“McKesson Ventures is proud to assist M2GEN’s main and complete linked medical and genomic knowledge platform. Our funding instantly displays McKesson’s broader dedication to advance and enhance group oncology care by The US Oncology Community and Ontada, our progressive oncology know-how and insights enterprise,” mentioned Dave Schulte, Senior Vice President and Managing Director, McKesson Ventures.
Ropes & Grey LLP acted as authorized advisor to CD&R in reference to the transaction. Perella Weinberg Companions LP served as unique monetary advisor and Shumaker, Loop & Kendrick, LLP acted as authorized advisor to M2GEN. Inexperienced Shoots Consulting, LLC served as advisor and McDermott Will & Emery LLP acted as authorized advisor to Merck GHI.
M2GEN is an oncology-focused well being informatics options firm that leverages medical and molecular knowledge to speed up the invention, improvement, and supply of customized therapies. Based in 2006 with a mission to allow a collaborative strategy to the struggle in opposition to most cancers, M2GEN facilitates the Oncology Analysis Data Trade Community® (ORIEN®), an alliance of main most cancers facilities that take part within the HIPAA-compliant, IRB-approved protocol, Complete Most cancers Care®, to collect de-identified medical and genomic affected person knowledge for analysis functions. M2GEN at the moment has greater than 300,000 complete consented sufferers throughout a community of 18 most cancers facilities in 10 states. Study extra at www.m2gen.com.
About Clayton, Dubilier & Rice
Clayton, Dubilier & Rice is a non-public funding agency with a technique predicated on constructing stronger, extra worthwhile companies. Since inception, CD&R has managed the funding of greater than $30 billion in 98 firms with an combination transaction worth of greater than $150 billion. CD&R has constructed a broad community throughout the biopharmaceutical market and has intensive expertise with data-centric enterprise fashions. Current investments embrace Huntsworth (acquired 2020), a number one supplier of specialty companies to pharmaceutical and biotech firms; Huntsworth’s December 2020 acquisition of Nucleus to create a worldwide pharma commercialization chief; naviHealth (owned from 2018-2020), which leverages knowledge to enhance healthcare outcomes; and Covetrus (acquired 2015), a multi-channel built-in supplier of pharmacy companies, prescription administration and knowledge analytics for the animal well being trade. The Agency has places of work in New York and London. For extra data, please go to www.cdr-inc.com.
About Merck World Well being Innovation Fund
Merck World Well being Innovation Fund (Merck GHI) is evolving company healthcare enterprise capital globally by using their healthcare ecosystem technique. This funding technique connects progressive firms with complementary applied sciences to develop built-in healthcare options. Merck GHI has $500M underneath administration and offers progress capital to rising healthcare know-how firms worldwide whereas leveraging the huge R&D-based, international sources of Merck. With a imaginative and prescient that knowledge would be the forex in healthcare, Merck GHI invests broadly in digital well being. Merck GHI invests in platform firms with confirmed applied sciences or enterprise fashions the place Merck’s experience and views can speed up income progress and improve worth creation. Since late 2010, Merck GHI has remodeled 50 investments in Digital Well being firms. www.merckghifund.com
About McKesson Ventures
McKesson Ventures is a strategic enterprise agency backed by McKesson Company specializing in early and progress stage digital well being and tech-enabled healthcare companies firms. McKesson Ventures targets firms that each catalyze and profit from the important thing modifications going down within the U.S. healthcare panorama. McKesson Company is a healthcare companies and data options firm devoted to creating the enterprise of healthcare run higher. Go to www.mckessonventures.com to study extra.