V-Bio Ventures has announced the completion of a EUR 80m Series B round of it’s portfolio company Precirix NV led by new investors INKEF Capital, Jeito Capital and Forbion as co-leads.
“We are delighted to announce this major milestone and are grateful for the strong investor support. The addition of Inkef, Jeito and Forbion, three leading VC funds in the healthcare sector, significantly reinforces our international shareholder base”, said Ruth Devenyns, CEO of Precirix. “The investment will allow Precirix to accelerate its growth trajectory and to further validate and broaden the technology platform.”
Precirix’s platform brings together several unique features and facilitates the development of radiolabelled single-domain antibodies (sdAbs) for multiple targets, in combination with different isotopes and applicability in various settings. The company’s lead product candidate, CAM-H2, is currently in a Phase I/II study for the treatment of HER2-positive metastatic breast and gastric cancer. The study allows inclusion of patients with brain metastases, a population in urgent need of effective therapies. Initial imaging data provide confidence in the potential of CAM-H2 to address the unmet medical need in this population. Patients are now being enrolled in the second cohort of the dose-escalation phase, following the absence of any dose-limiting toxicities in the first cohort and a positive review from the Safety Review Committee, V-Bio Ventures said in its press release
The proceeds of this financing round will fund the development and expansion of Precirix’s pipeline. More specifically, the company will advance CAM-H2 through its ongoing Phase I/II study and plans to bring additional novel radiopharmaceuticals to the clinic. Precirix will also focus on further strengthening the platform, using its potential to generate new product candidates, linkers and CMC processes, the company said.
Simone Botti, Partner at INKEF Capital, Sabine Dandiguian, Managing Partner at Jeito and Jasper Bos, General Partner at Forbion Growth will join Precirix’s Board of Directors, the company said. The company’s existing shareholders Gimv, HealthCap, Novo Holdings, Pontifax Venture Capital, V-Bio Ventures, BioMed Partners, as well as the seed investors, continue to support the company, having all participated in the round.
Christina Takke, Managing Partner at V-Bio Ventures, commented: ”Today’s financing is a recognition of the company’s achievements over the past years. We are excited to be part of this journey since co-leading the Series A round in November 2018. We are privileged to have secured the financing from such a highly reputed international syndicate. This allows the company to advance highly needed therapeutics closer to patients in need.”