TargED raises Series A financing of EUR 39 million to accelerate development of its lead compound

TargED Biopharmaceuticals (“TargED”), a private biotechnology company focused on developing improved treatments for thrombotic diseases, has announced it has raised Series A financing of EUR 39 million to accelerate development of its lead compound, Microlyse.

The company said that the financing was led by an international syndicate with equal contributions from 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 groundbreaking work demonstrating that Microlyse specifically targets blood clots leading to their dissolution 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), the company said.

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.

Olivier Litzka, Partner at Andera Partners commented: “Together with Jacob, Roger, Jan et Thijs, 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”.