AMSTERDAM, The Netherlands--(BUSINESS WIRE)--VectorY Therapeutics, a biotech company focusing on the development of innovative gene therapy approaches for the treatment of muscular and neurodegenerative disorders through vectorized antibodies, today announces the completion of a €31 million seed financing round.
The oversubscribed round was co-led by founding investor Forbion and a leading global investment firm. BGV and Eli Lilly and Company also joined the syndicate.
The proceeds from this seed financing will be used by the Company to establish pre-clinical proof of concept for vectorized antibodies in target indications of ALS and Alzheimer’s. The Company will also use the funds to establish proprietary manufacturing capabilities, including a state-of-the-art GMP facility in the Netherlands.
VectorY was launched in October 2020, and has established its laboratories and offices at the Amsterdam Science Park in The Netherlands. The Company is developing a pipeline of vectorized antibodies targeting muscular and CNS diseases, based on a novel AAV platform and innovative antibody-based targeted degradation technologies. These non-immunogenic viral vectors have enhanced properties of cell type specificity, thus improving delivery, durability and accessibility of targeted tissues and cells.
Today, the Company also announced the appointment of a new Chief Executive Officer, Alexander Vos, and Chief Technology Officer Dr. Sander van Deventer, both highly experienced pioneers in the cell and gene therapy field. Further expansion of the team is also planned. See the VectorY website for the full announcement: www.vectorytx.com.
The Company’s Board of Directors will continue to be chaired by Dr. Carlo Incerti, previously Chief Medical Officer of Sanofi Genzyme. Marco Boorsma, General Partner at Forbion, who has acted as interim-CEO since company inception, will become a member of the Board.
Alexander Vos, newly-appointed CEO of VectorY, said:
“We are pleased to have attracted leading investors and knowledgeable industry partners to VectorY so soon after the launch of the Company. We are grateful for the trust placed in the strength of our team, which is testament to the credibility of our technological approach and scientific expertise. These proceeds will enable us to get the Company off to a great start to establish proof-of-concept for our vectorized antibodies and effectively tackle some notoriously challenging disease areas.”
Marco Boorsma, Board member of VectorY, commented:
“Coupled with the appointments of seasoned industry experts Alexander as CEO, and Sander as CTO, this seed financing excellently places the Company to progress vectorized antibodies as therapies for serious diseases of unmet medical need, and to establish proprietary manufacturing capabilities. As I move into my new role as a Board member, I hope to be able to provide Alexander and the rest of the management team with the support required to make VectorY a great success.”
Notes to Editors
VectorY combines the therapeutic potential of antibodies, RNA and gene therapy to develop long-lasting therapeutic solutions for muscular and neurodegenerative diseases with high unmet medical need. Founded in October 2020, and based in the Amsterdam Science Park, VectorY is a fully integrated gene therapy company focused on the development of innovative therapeutics based on a novel AAV gene therapy platform, antibody- and RNA-based targeted degradation technologies, and proprietary manufacturing technology. VectorY develops proprietary & partnered programs and product candidates are based on new technologies that will enable the next generation of highly scalable manufacturing processes within VectorY’s own manufacturing facilities. VectorY’s manufacturing capabilities will include a state-of-the-art multi-product GMP facility in the Netherlands, with the capability to deliver suspension based AAV viral vector manufacturing of up to 2000L for both clinical and commercial supply.
For more information, see www.vectorytx.com.
Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands, Germany and Singapore. Forbion invests in life sciences companies that are active in the (bio-) pharmaceutical space.
Forbion manages well over EUR 1.7 billion across multiple fund strategies that cover all stages of (bio)pharmaceutical drug development. Forbion’s current team consists of 20 life sciences investment professionals that have built an impressive performance track record since the late nineties with successful investments in over 70 companies.
The firm is a signatory to the United Nations Principles for Responsible Investment. Besides financial objectives, Forbion selects investments that will positively affect the health and well-being of patients.
Its investors include the EIF, through its European Recovery Programme (ERP), LfA, Dutch Venture Initiative (DVI), AMUF and EFSI facilities and KfW Capital through the Programme, “ERP – Venture Capital Fonds investments”. Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany.
For more information, please visit: www.forbion.com.
About BioGeneration Ventures (BGV)
BioGeneration Ventures (BGV) is a venture capital company, with a focus on early-stage European biotech companies. With a strong track record of significant financial returns through its investments in healthcare innovations and providing the expertise to build world-class companies, BGV manages over EUR 250 million of funds and invests in areas where true scientific innovations, unmet medical needs, and the potential to demonstrate a significant proof of concept all converge. BGV strives to work with founding teams to progress science and build successful companies and uses its experience to guide progress into clinical trials, leading to successful drug development and value realization for its investors. BGV applies its expertise in a rigorous process to select the most compelling opportunities with the best prospects for exit. The Company is based in Naarden, The Netherlands.
For more information, please visit: www.biogenerationventures.com.