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TargED Biopharmaceuticals raises EUR 39 Million in Series A financing to bring groundbreaking thrombolytic treatment to patients

Our portfolio company Targed Biopharmaceuticals raised Series A financing of € 39 million to develop improved treatments for thrombotic diseases.
The financing was co-led by Andera Partners, Fund+, Hadean Ventures, Inkef Capital and Sunstone Life Science Ventures, and joined by existing investors First, Curie Capital and UHSF.
Please find the press release below.
  • Financing with equal contribution by an international investor syndicate comprising of Andera Partners, Fund+, Hadean Ventures, Inkef Capital and Sunstone Life Science Ventures
  • Funds will accelerate development of first-in-class targeted thrombolytic treatment into clinical development

 

Utrecht, the Netherlands, 22 February 2022 – TargED Biopharmaceuticals (“TargED”), a private biotechnology company focused on developing improved treatments for thrombotic diseases, today announces it has raised Series A financing of EUR 39 million to accelerate development of its lead compound, Microlyse. The financing was led with equal contribution by an international syndicate comprising Andera Partners, Fund+, Hadean Ventures, Inkef Capital and Sunstone Life Science Ventures, and joined by existing investors FIRST (Managed by BioGeneration Ventures), Curie Capital and Utrecht Health Seed Fund.  TargED will focus development on two initial indications: acquired Thrombotic Thrombocytopenia Purpura (aTTP) and Acute Ischemic Stroke (AIS).

 

TargED’s lead product, Microlyse, is a first-in-class proprietary clot-busting compound which binds to a protein present in all forms of thrombosis.  Microlyse is the first compound to achieve targeted enzyme delivery, using a single domain antibody (VhH), directly to blood clots. Due to the targeted nature of the therapy, it is expected to lead to a superior side effect profile alongside the potential for exceptional potency compared to current agents. Microlyse’s unique mechanism of action allows for potential applications in a variety of indications involving thrombosis, including the life-threatening disease aTTP. The ground-breaking work demonstrating that Microlyse specifically targets blood clots leading to their desolution faster and safer compared to standard of care recently featured on the cover of the journal Blood (Microlyse: a thrombolytic agent that targets VWF for clearance of microvascular thrombosis).

Kristof Vercruysse, Chief Executive Officer of TargED, said: “We are delighted to have the support of this international syndicate of world class life science investors, a validation of the potential of Microlyse. We are proud to be developing products that have the potential to positively impact millions of lives by enabling patient access to such lifesaving treatment.”

Following the closing of the financing the Board of TargED will include: Thijs Cohen Tervaert, Inkef Capital (Chair), Olivier Litzka, Andera Partners, Mariette van der Velden-Roesink, Curie Capital, Jan Van den Bossche, Fund+, Roger Franklin, Hadean Ventures and Jacob Lange Moresco, Sunstone Life Science Ventures.

Thijs Cohen Tervaert, Chair of the Board of Directors, commented: “Together with Jacob, Roger, Jan and Olivier, we are very pleased to invest in this impressive TargED team.   Microlyse is a therapeutic innovation that has a very strong potential to significantly lower the burden of disease related to thrombotic events. We are excited to join forces with TargED to accelerate the development of Microlyse into clinical development, both in aTTP and AIS.”

We are happy that our pioneering efforts on the design of an enzyme that targets blood clots led to compelling preclinical data recently published in the journal Blood” said UMC Utrecht Associate Professor Coen Maas and scientific co-founder of TargED. “It is exciting to see that this work has been able to attract such a strong syndicate of investors, which will now allow us to develop Microlyse towards therapeutic breakthrough, potentially across a range of indications with high unmet medical need”.

Mariette van der Velden, Managing Partner of Curie Capital, commented on behalf of seed investors FIRST and Utrecht Health Seed Fund: “Microlyse has the potential to better address the needs of patients suffering from thrombotic diseases. With a tremendous drive, the TargED team has produced very promising preclinical results supported by our seed funding. We are excited to enter the next phase of the development of  Microlyse towards patients worldwide.”

 

For more information please contact:

TargED

Kristof Vercruysse

Chief Executive Officer

E: info@targedbio.com

 

Optimum Strategic Communications

Mary Clark, Stella Lempidaki, Vici Rabbetts
T: + 44 208 078 4357

E: Targedbio@optimumcomms.com

 

About TargED

TargED Biopharmaceuticals B.V. is a biotechnology company that develops first-in-class biological drugs to improve treatment of thrombosis. TargED stands for Targeted Enzyme Delivery. Their biological drugs are unique by using small antibodies (“VhH”) to deliver enzymes to sites of thrombosis, enabling ‘targeted’ thrombolysis. The lead compound is Microlyse, which is currently under development for thrombotic thrombocytopenic purpura (TTP) and Acute Ischemic Stroke (AIS). The objective is to accelerate thrombolysis in all forms of thrombosis, irrespective of the thrombus composition.

TargED, a spin-off of the University Medical Center Utrecht, was founded in July 2020 by Associate Professor at the Department of Clinical Chemistry and Haematology, Coen Maas, PhD, an expert in thrombosis and hemostasis, Steven de Maat, PhD, an expert in recombinant protein development and optimization, Marc van Moorsel, researcher with focus on Acute Ischemic Stroke and Kristof Vercruysse, with more than 20 years of experience in bringing biopharmaceutical compounds from pre-clinical proof of concept to market, most notably, Caplacizumab for Thrombotic Thrombocytopenic Purpura at Ablynx between 2007 and 2013.

 

For more information please visit www.targedbiopharmaceuticals.com

www.linkedin.com/company/targedbiopharmaceuticals/

 

About Andera Partners

Created in 2001, Andera Partners is a major player in private company investments in France and internationally. Its teams manage €3.2 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion and Andera Croissance), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra). Based in Paris, with offices in Antwerp and Munich, Andera Partners is wholly owned by its teams, which comprise more than 80 professionals, of which some 50 are investment professionals. It is structured as a partnership and managed by a board of ten partners. Responsible and committed, the management company regularly forms partnerships with non-profit sector entities and takes concrete action in the fight against global warming. Andera Partners has been certified carbon neutral since 2018.

Andera’s 15-person life sciences team brings together extensive experience in the life sciences industry, private equity and venture capital. Active since 2000, the team has raised €1.3 billion through its BioDiscovery family of funds and is currently investing from its new BioDiscovery 6 fund. Since inception, the BioDiscovery funds have invested in more than 80 European and US biotech and medtech companies, and generated over 20 IPOs and over 20 trade sales. For more information, please visit: www.anderapartners.com

 

About Fund+

Fund+ is a Belgian venture capital firm that invests in innovative European Life Sciences companies developing drugs, medical devices and diagnostics, with a strong focus on patient-centric approaches and major unmet medical needs. With over €200M in assets under management, Fund+ has built a strong track record since 2015, investing in 16 portfolio companies with two major exits.  The fund is managed by a specialist team of seasoned life sciences professionals with healthcare industry, corporate finance and strategy consulting experience, supporting companies throughout their growth cycle.  The company aims to maintain a leading position in the Life Sciences sector, creating sustainable value for its shareholders and a tangible impact on society.  For more information, please visit: www.fundplus.be

 

About Inkef Capital

Inkef Capital is a leading venture capital firm based in Amsterdam with a proven history of backing promising early-stage companies in Europe. Inkef takes pride in being a patient, long-term investor with the ability to support companies through several funding rounds all the way up to IPO. From the early stages of being a technology or life science venture, Inkef supports entrepreneurs building their ideas into successful international businesses. Inkef’s investments include Onward Medical, Castor, iOnctura, Cardior and GitLab, Remote among others. For more information, please visit: www.inkef.com

 

About Hadean Ventures

Hadean Ventures is a European life science venture capital fund manager with c. €200m assets under management across two funds. Hadean Ventures has offices in Oslo, Norway, and Stockholm, Sweden, as well as presence in Germany, Austria and the UK. Hadean invests across all healthcare verticals and stages with a focus on de-risked preclinical and clinical assets that address clear unmet medical needs. Our interest spans across pharmaceuticals & biotech, medical devices, diagnostics and digital health – we have the flexibility to invest in great ideas no matter what vertical. The Hadean team currently consists of 10 investment professionals with deep scientific, medical and business knowledge. We can add value and offer expert guidance throughout a company’s development, whether early or late-stage. Our presence in Europe, and specifically the Nordics and German speaking Europe, enables Hadean to find the best opportunities at the source of innovation in regions that regularly produce world-class science, yet historically have been under-ventured. For more information, please visit: www.hadeanventures.com

 

About Sunstone Life Science Ventures

Sunstone Life Science Ventures is an independent European venture capital investment firm founded in 2007 by an international team of industry experts with combined entrepreneurial, operational and financial experience. Managing total funds of €500 million, Sunstone Life Science Ventures focuses on developing and expanding early‐stage Life Science companies with strong potential to achieve global success in their markets. Since the inception, Sunstone Life Science Ventures has invested in more than 50 companies in the areas of pharmaceuticals, medical technologies and diagnostics, and has completed more than 20 successful IPOs and large M&A transactions. For more information, please visit: https://sunstone.eu/

TargED receives NWO Take-Off 2

Congratulations to the team of our portfolio company TargED Biopharmaceuticals, as they have been awarded a Take-Off 2 grant from NWO (the Dutch National Science Organization)!

TargED closes seed investment for the development of a next-generation thrombolytic clot-busting drug

We’re thrilled to announce UHSF’s first investment, in TargED Biopharmaceuticals, together with Curie Capital and FIRST Fund. TargED is developing a next generation clot-busting drug with unique properties, initially focusing on acute ischemic stroke as its target, with several thrombotic diseases as potential spin-offs.
Please find the press release below:
TargED closes seed investment and partners with UMC Utrecht for the development of Microlyse – a next-generation thrombolytic clot-busting drug
November 24th, 2020
Utrecht, the Netherlands – TargED Biopharmaceuticals, a biotech spin-off of the University Medical Center Utrecht founded by Associate prof. Coen Maas, PhD, Steven de Maat, PhD, Marc van Moorsel and Kristof Vercruysse, raised EUR 1.35 million to develop a unique biotechnological drug for rapid degradation of blood clots that obstruct the vasculature. The funds include a seed investment from FIRST fund, Curie Capital and Utrecht Health Seed Fund as well as a public-private-partnership with UMC Utrecht, supported by additional funding from Health Holland.
Every year, approximately 1.3 million Europeans and 800.000 US citizens have a first stroke. Stroke is the second most common cause of death and a major cause of disability in developed economies. The majority of stroke events are caused by an occlusion of a blood vessel (thrombosis). TargED’s Microlyse, a new proprietary clot-busting compound, binds to a protein that is present in all forms of thrombosis, ranging from those that obstruct the largest vessels to the smallest vessels in the body (microvasculature). Due to its unique mechanism of action, Microlyse can stimulate a natural pathway that dissolves these blood clots. This therapeutic approach can be used to rapidly eliminate occlusive blood clots and has the potential to outperform current stroke care therapeutics. Next to acute ischemic stroke, thrombosis is seen in a wide range of cardiovascular conditions for which TargED expects that Microlyse is also applicable, such as the life-threatening disease TTP (thrombotic thrombocytopenic purpura).
Kristof Vercruysse, interim CEO of TargED said: “The first results of Microlyse based on the work of Coen Maas and Steven de Maat underscore the potential of Microlyse to break down blood clots in various diseases. We appreciate the support from our investors to realize next development steps, and I am honored to be part of a company that has the potential to positively impact millions of lives by enabling patient access to these lifesaving treatments.”
Bart van der Worp, MD PhD, Neurologist specialized in cerebrovascular diseases at the University Medical Center in Utrecht, stated: “Given its mode of action, Microlyse has the potential not only to improve the chance of recanalization of an occluded artery as compared to intravenous thrombolysis using currently available drugs, but also to reduce the risk of intracranial bleeding, the most feared complication of thrombolysis. Greater efficacy and an improved safety profile could lead to better outcomes for thousands of patients worldwide. To assess the potential benefit of Microlyse, further preclinical and clinical research is needed.”
Rianne Ellenbroek, PhD, Investment Manager of FIRST commented: “We are very excited to support the TargED team on their journey to further develop the strong scientific work Coen Maas and Steven de Maat have established with support of the Dutch CardioVascular Alliance (DCVA). Microlyse is a therapeutic innovation that has a strong potential to lower the burden of cardiovascular diseases related to thrombotic events.”
Background statements
About FIRST
Fonds InvesteringsRijpe STarters (FIRST) is a pre-seed fund that finances pioneering scientists in The Netherlands active in the emerging fields of regenerative medicine and cardiovascular diseases. FIRST is founded by the Dutch CardioVascular Alliance (DCVA) and Regenerative Medicine Crossing Borders (RegMed XB) with support of the Netherlands Enterprise Agency. BioGeneration Ventures (BGV) supports the FIRST fund as registered fund manager, making available its network, expertise, and facilities.
For more information, please visit www.biogenerationventures.com/first.
About Curie Capital
Curie Capital is a private life-science seed fund, based in Amsterdam, investing in early stage Dutch companies with skilled teams and promising medical products in healthcare, together with other VCs. Curie Capital is managed by the two partners, Mariette van der Velden and Han de Groot who both have extensive experience in investing, entrepreneurship and in creating value for companies. Curie Capital invests with the aim to make a positive impact on patients and healthcare.
For more information, please visit https://www.curiecapital.nl
About Utrecht Health Seed Fund
Utrecht Health Seed Fund (UHSF) is an early stage life sciences & health investment fund based out of Utrecht, The Netherlands, focused on scalable technologies in the field of Life Sciences (therapeutics and diagnostics), Medical Devices, Digital Health, and Animal Health in the earliest stages of development. UHSF is established by Utrecht Holdings with the assistance and support of the European Regional Development Fund (ERDF), UMC Utrecht, and the University of Utrecht.
For more information, please visit www.uhsf.nl.
Contact
Marc van Moorsel
E: marc.van.moorsel@targedbiopharmaceuticals.com