VectorY Therapeutics, an Amsterdam, the Netherlands-based biotech company developing vectorized antibody therapies for the treatment of neurodegenerative diseases, raised €129M in Series A funding.
The round was led by EQT Life Sciences and the Forbion Growth Opportunities Fund. New and existing investors also participated in the financing, including MRL Ventures Fund, Rahway, NJ USA, Insight Partners, ALS Investment Fund, Forbion Ventures, and BioGeneration Ventures (BGV). In connection with the financing, Wouter Joustra, General Partner at Forbion, Arno de Wilde, Director at EQT Life Sciences, and Karin Kleinhans, Partner at MRL Ventures Fund will join VectorY’s board of directors.
The company intends to use the funds to support clinical development of the lead program in Amyotrophic Lateral Sclerosis (ALS), and preclinical development of pipeline programs based on VectorY’s broad technology platform.
The proceeds will be used to support the clinical development of VTx-002, its lead vectorized antibody program targeting TDP-43 for the treatment of ALS. The company will also accelerate the development of its vectorized antibody platform and additional pipeline programs targeting proteinopathies causing other neurodegenerative diseases.
Led by CEO Sander van Deventer, VectorY aims to treat patients with neurodegenerative diseases with vectorized antibody therapies. Its platform combines precise therapeutic antibodies with one-time AAV-based delivery to the CNS. The company works to deliver in-house expertise in antibodies, AAV vectors, protein degradation, manufacturing and neuroscience that drives the rapid development of disease-modifying therapies for neurodegenerative diseases such as ALS and Huntington’s disease.
VTx-002 is being developed to delay disease progression and preserve the quality of life of ALS patients. VTx-002, currently in preclinical development, is a vectorized antibody that selectively clears misfolded and aggregated TDP-43 from the cytoplasm of neuronal cells. Thereby, it restores the essential function of TDP-43 in the nucleus leading to preservation of neuronal cell function and health.
FinSMEs
14/11/2023