Genesys Capital’s Post

Great News for Profound Medical Inc. on Reimbursement! The CMS has proposed Category 1 CPT codes for Profound's TULSA (Transurethral Ultrasound Ablation) procedure, effective January 1st, 2025. This puts TULSA’s reimbursement in the same ballpark as standard of care radical prostatectomy but with better safety outcomes. Raymond James rates as a Strong Buy.   https://lnkd.in/gaUqW2qv

Amazing to see TWO Genesys co-creations make the list of Fierce's "Top 10 smartest deals in biopharma" - Inversago Pharma & Fusion Pharmaceuticals! A tribute to the value of the Genesys investment thesis, which is to invest early and work closely with Canadian scientific founders and entrepreneurs to build globally relevant healthcare companies. https://lnkd.in/gBC4rDzq   

This week at Genesys we had our 22nd Annual Symposium. We had a panel on CEO-to-CEO (Obesity Theme) in which François Ravenelle (of Inversago) & Mark Pruzanski, MA, MD (of Versanis Bio) shared their vision of building obesity companies and behind the scenes of negotiating with Novo and Lilly for acquisitions. Both acquisitions were announced a month apart. The panel was perfectly moderated by Jamie Stiff. The title of the panel was - Weight Loss Confidential: A Ringside Seat to the M&A Feeding Frenzy Last year, since our obesity panel - the clinical pipeline has exploded (124 pre/clinical programs now) and GLP-1 asset class projected to be $150B by 2030s. Definitely, in terms of velocity of weight reduction on per week basis - Amgen and Carmot (Roche) are the front leading drugs.

At our 22nd Symposium We had a Buy Side Panel Titled: Crystal Ballin' We want to thank our panelist James Buxton M.D. (NEA), Meg Wood (NYBC) and John Mendlein (Flagship Pioneering). Key insights emerged - DPI is the new IRR. Definitely, lot of dry powder sitting on the side line, but almost 60% of the funds are in 10% of GPs. Down rounds are on the rise. Obesity (perhaps with specific themes other than GLP-1s) and Neurology will continue to drive investments. Interest rate cut at the end of the year may help the sector. Venture investments and company creation have halved (since 2021 peak) but for the good reason. In terms of AI - "near-term pessimist and long-term optimist" as said by Derek Lowe.

We had our 22nd Symposium As always, we were lucky to have Jessica Chutter, Chair, Morgan Stanley Biotech Investment Banking, presenting "The Biotech Marketplace". She highlighted 3 key components: Macro Backdrop Improving, Diversified Capital Access for Biopharma and Key Themes in Biopharma M&A.

22nd Annual Genesys Capital Symposium - is now live ! 1st Panel - How Alpha Generates Alpha from John Valliant | CEO Fusion Pharmaceuticals moderated by our very own Damian Lamb *Fusion has become a Canadian anchor company and global leader in radiopharmaceutical R&D and supply"

We would like to say a huge congratulations to Genesys Managing Partner Damian Lamb for being recognized with a 2024 Alumnus Award from McMaster University! Damian completed his MSc at McMaster and carried out scientific research in the Intestinal Disease Research Program. He has since remained close to the university to support the commercialization of its world-class research by sitting on the Board of the Centre for Probe Development and Commercialization (CPDC), acting as a reviewer for the McMaster Seed Fund, and facilitating the creation of spin-out companies including Fusion Pharmaceuticals, a Genesys Capital portfolio company recently acquired by AstraZeneca for US$2.4 Billion. Congratulations Damian!   https://lnkd.in/g6xYMK_y

Great to see the FloPatch being adopted locally here in Ontario! Congrats to the Flosonics Medical team! Joe Eibl

Yesterday AstraZeneca completed the acquisition of Genesys portfolio company Fusion Pharmaceuticals for US$2.4B! What a journey it has been for Genesys, from working with founder Dr. John Valliant in the early days of Fusion's inception, to chairing the Board as the company raised over $200M in private financings and a successful IPO. With the manufacturing capacity that Fusion has built for targeted alpha therapies, Hamilton is already on its way to becoming a global hub of excellence for radiopharmaceuticals. https://lnkd.in/g9h4wDrY

Congratulations to Genesys Partner and CFO Jennifer Williams on being appointed to the Board of the Canadian Venture Capital & Private Equity Association (CVCA)! Proud to have Genesys Capital represented!