Life Sciences Moves Head Office To Bermuda

November 15, 2016

SELLAS Life Sciences Group — a biopharmaceutical company focused on developing immunotherapeutic products to treat a variety of cancers — has moved its head office from Switzerland to Bermuda.

The company said, “SELLAS Life Sciences has made its first local hires, including the Chief Financial Officer, and intends to continue to build its local presence over the coming months. The Company’s Chief Executive Officer will also be relocating to Bermuda. SELLAS is based at O’Hara House in Hamilton.

“The Company focuses on the treatment of various cancers through its immunotherapy agent, called galinpepimut-S, developed at [and licensed from] Memorial Sloan-Kettering Cancer Center in New York, USA.

“The effectiveness of this agent in treating cancers such as Acute Myeloid Leukemia [AML] and Malignant Pleural Mesothelioma [MPM] in Phase II clinical trials has been very encouraging.

Sellas TC November 15 2016

“SELLAS is now ready to enter into the final stage of clinical testing, Phase III, for both of these indications. The Company also has ongoing trials targeting Ovarian Cancer, Multiple Myeloma, and will also enter into clinical studies for Glioblastoma Multiforme [a brain cancer] and Chronic Myelogenous Leukemia shortly.

“SELLAS’ cancer treatment immunotherapies are potentially applicable to over 25 types of cancers and could have a material impact on the way that cancers are treated.

Dr. Angelos Stergiou, Chief Executive Officer of SELLAS, says: “Our largest shareholder, Equilibria Capital, a Bermuda-based asset-management company, encouraged us to consider re-domesticating to the Island.

“In addition to the close physical proximity to the US, an important market for our products, we have been highly impressed with Bermuda’s infrastructure, legal system, political stability and, most importantly, the quality of the workforce.

“We have found it easy to set-up our business here and would wholeheartedly encourage other biotech companies to consider moving to the Island.”

Daniel Tafur, Partner at Equilibria, added: “We are delighted that SELLAS has moved its headquarters to Bermuda. We are confident that the Company will find the Island an excellent base from which to grow and continue to develop and commercialise its innovative cancer therapies.”

“We have been working for a while to attract biotech and life-science companies to Bermuda, and the move here by SELLAS is a very positive development that not only creates jobs but also helps diversify our economy,” said Bermuda Business Development Agency [BDA] Chief Executive Officer Ross Webber.

“The BDA has worked with SELLAS and its advisors for nearly six months, and we are proud to see them establish a physical presence on the Island. It brings new jobs for Bermudians immediately, and we fully expect more will follow.”

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Comments (7)

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  1. Desk Warmer says:

    See OBA results at work, bringing dozens of new companies to Bermuda to provide jobs!

  2. Terry says:

    Keep warming that desk.

    It’s all about stability. Thus the investment.

    Don’t let the PLP in even though they will and still make it all about race.

    Shalom.

  3. Terry says:

    The irony of not many comments here but dislikes is exactly why I left Bermuda in 1991.

    We bitch. We moan.
    We talk about what we don’t have and how we are held down and back.

    Point.
    All the moaners want is a job in a bar or something simple.
    No responsibility but a good pay check and from maybe 10 am to 3.30pm so they can spend their monies at the club and watch TV and smoke a joint or hook up with the neighbor’s wife behind the dumpster of sports supply room.

    2017 will be the Donald trump………………after that…..it’s standing in line on Front Street waiting to garner a meal voucher .

    Mark my words.

    Enjoy.

  4. De Bomb Squiggley says:

    Great work from the BDA. They said they were trying to get different types of company into the island and now they are proving it.
    Let’s be proud of this and try to leverage this and get some more.

    • The People= Fairness? says:

      Keep up the good work. By political stability it means good government and a good opposition. Both parties must learn to govern and be effective oppositions if we are to continue to get stronger.