V-Bio Ventures, a leading Belgian life sciences VC, invests in Biodol Therapeutics, a French biotech specialized in next-generation chronic pain treatments. Biodol Therapeutics receives EUR 4.5 million to develop novel FLT3 inhibitors for the treatment of chronic and neuropathic pain, aiming to reach the clinic by early 2023.
Ghent, Belgium, 31 August, 2020 – It is estimated that 1 in 5 people in developed countries will encounter chronic pain (defined as pain lasting longer than 3 months) during their lifetime. This results in immense suffering and a significant reduction in the quality of life. Despite more than USD 20 billion spent on pain medication annually, efficacy is underwhelming and most patients only ever obtain partial relief from their pain. In addition to the limited efficacy of current treatments, opioid analgesics come with significant dangers of addiction and overdosing. In this context, the search for novel and innovative pain medications is more pressing than ever.
Biodol Therapeutics, a biotechnology company located in Montpellier and Strasbourg (France), is based on the seminal work of Dr. Jean Valmier, Professor at the University of Montpellier and the INSERM Institute for Neurosciences of Montpellier (INM), and Dr. Didier Rognan, Research Director at CNRS and Director of the Laboratory for Therapeutic Innovation (LIT) at the University of Strasbourg. Dr. Pierre Sokoloff, the company’s CSO, is the former director of the INSERM Unit of Molecular Neurobiology and Pharmacology at Hospital Ste-Anne in Paris and former Director of Exploratory R&D for Neurology-Psychiatry at Pierre Fabre Laboratories. Biodol was founded in 2015.
The company discovered that FLT3 (a known hematopoietic receptor) is expressed on sensory neurons and is instrumental in the generation and maintenance of a pain response. The receptor has been shown to integrate signals from both the nervous and immune systems to modulate pain sensation and is emerging as a promising target for drug development. Biodol has identified a novel class of allosteric, highly selective modulators of FLT3, without the safety limitations of classical RTKi. The company will develop these molecules as a next-generation treatment for chronic pain.
Thanks to the investment by V-Bio Ventures, the company now has the means of developing their novel molecules towards the clinic and confirm their first translational data showing the potential in humans. The investment will allow further optimization of the lead compounds and prepare the company for IND filing by the end of 2022.
Fabien Granier (CEO, Biodol):
“We are delighted to announce the investment of V-Bio Ventures. Their knowledge and advice will bring our company to the next level. Thanks to our IP portfolio and following our multiple discussions with pharma, we are now uniquely positioned to finalize the key set of data expected by the pain management industry. Biodol Therapeutics is without a doubt moving forward in providing patients struggling with neuropathic pain the safe and specific treatments they have been waiting for.”
Ward Capoen (Principal, V-Bio Ventures):
“The neuro-immune interface is an exciting new area for therapeutics, and we strongly believe that the next generation of pain therapeutics will come from this direction. We are very impressed by the work done at Biodol so far and look forward to help the company bringing their exciting new medicines to patients.”
Biodol Therapeutics (www.biodol.eu), founded in 2015, develops first-in-class compounds for the treatment of chronic pain (CP). Biodol Therapeutics has identified the Receptor Tyrosine Kinase (RTK) FLT3 as a key player for triggering and maintaining the chronic neuropathic pain (NP) state. The company is focused on the development of allosteric inhibitors of the FLT3 receptor for the treatment of chronic pain. Biodol Therapeutics already owns the exclusive rights on a portfolio of 4 patents. The company has been supported by BPIFrance, Satt AxLR, Inserm Transfert, Region Occitanie, the French National Research Agency, SEMIA Incubator and Montpellier Business and Innovation Centre.
V-Bio Ventures (www.v-bio.ventures) is an independent venture capital firm specialized in building and financing young, innovative life science companies. V-Bio Ventures was established in 2015 and works closely with Belgium-based VIB, one of the world’s premier life science institutes. The fund invests throughout Europe in start-up and early-stage companies with high growth potential focusing on technologies that provide transformational improvements in the biopharmaceutical, pharmaceutical, diagnostics and agricultural sectors.
Cabinet Carrel advised Biodol Therapeutics and V-Bio Ventures on this funding round.
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For more information, contact:
V-Bio Ventures
Ward Capoen
ward.capoen@v-bio.ventures
Biodol Therapeutics
Fabien Granier
fabien.granier@biodol.eu
Ghent, Belgium, 28 July 2020 – Today V-Bio Ventures announces its investment in a EUR 23 million Series A financing into ExeVir Bio. The round was led by Fund+, with the participation, next to V-Bio Ventures, of VIB, UCB Ventures, SFPI-FPIM, and several Belgian family offices. ExeVir Bio has been established by Belgian partners combining world class science, antibody engineering, manufacturing, blue-chip venture capital investment and Flemish Government financing, which have joined forces in a unique collaboration to boost the development of new therapies to combat Covid-19.
ExeVir Bio, a spin-out of VIB, the world-leading Belgium-based life sciences research institute, is harnessing its Llama-derived antibody (VHH) technology platform to generate robust antiviral therapies providing broad protection against coronaviruses. After early pre-financing by the Flemish Government, UCB, a multinational biopharmaceutical company, assisted in the generation of the lead candidate and is producing the GMP batches for clinical trials. Fund+, a leading Life Sciences-focused investment firm in Belgium, led the financing and was instrumental in setting up ExeVir Bio.
ExeVir Bio is using a highly innovative and clinically validated VHH technology to develop treatments for viral infections that may pose a significant global threat. Lead asset VHH72-Fc binds to a unique epitope that is conserved in SARS-CoV-1 and SARS-CoV-2 viruses and this binding prevents these viruses from entering the cell. The importance of this approach is that it could be used both as a therapeutic and prophylactic. Therapeutic use could help slow viral replication in the lungs, reduce inflammation, and give patients valuable time to raise their own productive immune response. Prophylactic use could support the ringfencing of an outbreak, protect healthcare workers, and support those at increased risk of severe illness from Covid-19.
Torsten Mummenbrauer, CEO of ExeVir Bio, said: “We are committed to the international effort against Covid-19 to support healthcare systems and to offer global access to our new treatment. With this Series A financing we can rapidly advance the development of our lead compound into clinical studies by the end of the year. We are confident our Llama-derived antibodies hold a key to saving the lives of patients who can become seriously ill with coronavirus.”
The technology platform was developed by VIB-UGent scientists, Professors Xavier Saelens and Nico Callewaert with the help of VIB’s drug discovery team at VIB Discovery Sciences, and national and international scientific collaborators. The team has shown that Llama-derived single-domain antibodies can neutralize SARS-CoV-2 in preclinical studies and SARS-CoV-1 in in vitro assays. As Llama antibodies are smaller than human antibodies, they can attach to parts of the coronavirus that would otherwise be inaccessible. The antibodies were derived from a Llama called ‘Winter’. A paper on the platform was published on 28 May 2020 in the journal Cell, on ‘Structural Basis for Potent Neutralization of Betacoronaviruses by Single-Domain Camelid Antibodies’ by Wrapp et al.
Torsten Mummenbrauer, CEO of ExeVir Bio, Philippe Monteyne, Partner at Fund+, Erica Whittaker, Head of UCB Ventures, Jérôme Van Biervliet, Managing Director, VIB and Katja Rosenkranz, Partner at V-Bio (observer) will join the Board of ExeVir Bio. Further board appointments will be announced in the future.
ExeVir Bio (https://exevir.com/) is harnessing its VHH technology platform to generate robust antiviral therapies providing broad protection against viral infections, including coronaviruses. It is a spin out from VIB, the world class Belgium-based life sciences research institute, based on the work of Professor Drs Xavier Saelens and Nico Callewaert from VIB in collaboration with: Laboratory of Jason McLellan – University of Texas at Austin; Laboratory of Barney Graham – NIAID (Vaccine Research Center); Laboratory of Johan Neyts – KU Leuven (Rega Institute). ExeVir Bio is led by a team of experts that combines international biotech and pharma experience with a successful track record of developing and bringing products to market. It is backed by blue chip investors led by Fund+, VIB, UCB Ventures, FPIM, V-Bio and several Belgian Family Offices.
V-Bio Ventures (www.v-bio.ventures) is an independent venture capital firm specialized in building and financing young, innovative life science companies. V-Bio Ventures was established in 2015 and works closely with Belgium-based VIB, one of the world’s premier life science institutes. The fund invests throughout Europe in start-up and early-stage companies with high growth potential focusing on technologies that provide transformational improvements in the biopharmaceutical, pharmaceutical, diagnostics and agricultural sectors.
Ghent (Belgium), 20th of January 2020 – Today V-Bio Ventures announces its investment in RootWave, a pioneer in electrical weed killing solutions. RootWave secured ca. EUR 6.5m in a Series A investment round led by V-Bio Ventures (Belgium) and Rabo Food & Agri Innovation Fund (Netherlands), and joined by impact fund Pymwymic (Netherlands) and existing shareholders including Yield Lab Ireland. The proceeds will enable RootWave to expand commercialisation of its RootWave Pro, a professional hand-weeder for spot weeding and treating invasive species, integrate its technology into automated agricultural weeders, and conduct further research into novel electricity-based weed killing applications.
RootWave’s technology uses electricity to kill weeds from the roots upwards. The $30bn herbicides industry is under pressure due to herbicide-resistant weeds and increasing regulation and litigation. RootWave’s technology is the leading solution for herbicide-free and effective weed control, contributing to more sustainable agriculture, a cleaner environment and a healthier food chain. The company is currently selling its RootWave Pro throughout Europe and is partnering with ag-machinery companies including Steketee/Lemken and SFM Technology.
In connection with the financing, Willem Broekaert of V-Bio Ventures, a representative of Rabo Food & Agri Innovation Fund, and Pieter Vis of Pymwymic will join the board of directors.
Andrew Diprose, CEO of RootWave, comments: “This fundraising reinforces the potential of RootWave’s technology and will allow the company to grow its revenues and commercialise its next generation products. We are grateful for the support from our existing board and shareholders and look forward to welcoming the new investor syndicate to our board. Together we will deliver innovative solutions that the market is urgently demanding.”
Willem Broekaert, Managing Partner from V-Bio Ventures, adds: “We have been impressed by the determination and vision of RootWave’s management team, and by the deep innovation pipeline of the company. We strongly believe in the transformation RootWave can bring about in the weed control market and are excited to be part of this journey.”
Richard O’Gorman, Director of Rabobank’s Food & Agri Innovation Fund, comments: “We at Rabobank recognize the need for greater sustainable food production and technologies that not only support increase yields, but also safeguard the environment for future generations. We are very proud to invest in RootWave and our partnership is testament to our mission to support truly innovative emerging technologies that can make a true difference in how we produce food in a future-proof manner.”
Pieter Vis, Investment Manager of Pymwymic, says: “We are proud to join RootWave on their mission to develop and commercialise electrical vegetation control technologies and products that improve communities and the environment by offering a scalable and sustainable alternative to chemical herbicides.”
About RootWave
RootWave (www.rootwave.com) uses electricity to kill weeds as a sustainable and scalable alternative to herbicides. The technology is organic, sustainable, no-till and cost-effective.
RootWave was launched in 2012 and is currently selling an award-winning professional hand weeder designed for growers, gardeners and groundskeepers to spot weed and treat invasive species; it is used across the world by contractors, municipalities, heritage sites, estates, football clubs, and farmers.
RootWave has won several EU and UK grants to adopt its technology for agriculture and is working with several ag-machinery companies to develop automated solutions for specialty and broadacre crops.
RootWave zaps weeds with zero chemicals and is improving the environment by offering a sustainable alternative to herbicides.
About V-Bio Ventures
V-Bio Ventures (www.v-bio.ventures) is an independent venture capital firm specialized in building and financing young, innovative life science companies. V-Bio Ventures was established in 2015 and works closely with Belgium-based VIB, one of the world’s premier life science institutes. The fund invests throughout Europe in start-up and early-stage companies with high growth potential focusing on technologies that provide transformational improvements in the biopharmaceutical, pharmaceutical, diagnostics and agricultural sectors.
About Rabo Food & Agri Innovation Fund
Rabo Food & Agri Innovation Fund “RFAIF” (www.rfaif.com) is a captive venture capital fund of Rabobank, a global leader in providing international finance to the food and agriculture (F&A) sector. RFAIF leverages Rabobank’s extensive global network and sector knowledge to support the growth and success of start-up companies leading innovation across the food and agri supply chain.
About Pymwymic
Pymwymic (www.pymwymic.com) is an investment cooperative of private investors who invest in impact driven enterprises through Sustainable Development Goal themed sub-funds, leveraging a peer-to-peer network and exchange of knowledge and expertise. The Pymwymic Healthy Ecosystems Impact Fund invests in early to growth stage companies that have measurable impact and seek to conserve and restore our ecosystems while generating an attractive financial return.
For more information, please contact:
V-Bio Ventures
Willem Broekaert
Willem.broekaert@v-bio.ventures
Ghent, Belgium, December 16 2019 – Today V-Bio Ventures announces its investment in Augustine Therapeutics, a new venture developing innovative therapeutics for patients suffering from Charcot-Marie-Tooth disease. A spin-off of VIB and KU Leuven, Augustine raises a seed-round of 4.2 million euro with V-Bio Ventures, PMV, Advent France Biotechnology, Gemma Frisius Fund and VIB.
Augustine Therapeutics, a spin-off from VIB and KU Leuven, focuses on the discovery and development of innovative medicines to benefit patients suffering from Charcot-Marie-Tooth disease (CMT) and other neuromuscular diseases. CMT is one of the most common hereditary disorders of the peripheral nervous system, affecting approximately 10 to 30 in 100,000 people globally. The disease is characterized by a progressive denervation of muscles, resulting in a slow decline of the patient’s day-to-day functioning. The current therapeutics market for CMT is limited to supportive management of symptoms.
The newly formed company is rooted in the ground-breaking research of the VIB-KU Leuven labs of Ludo Van Den Bosch and from a collaboration between the labs of Joris de Wit and Bart De Strooper (both VIB-KU Leuven). According to Ludo Van Den Bosch: “We uncovered several biological pathways in peripheral neuropathies that represent promising therapeutic targets for CMT. The validation and in-depth study of the underlying biology of these targets now provides a first-rate foundation for the development of novel therapeutics.”
Augustine Therapeutics completes a seed financing round of 4.2 million euro. The company is the result of a collaborative effort of VIB, KU Leuven, V-Bio Ventures and PMV, joined by Advent France Biotechnology and Gemma Frisius Fund. Augustine Therapeutics is a great example of VIB’s approach to company co-creation with business partners and investors. In anticipation of attracting a dedicated management team for Augustine, the day-to day interim management of the company is assumed by Ward Capoen (V-Bio Ventures) and Jérôme Van Biervliet (VIB).
Ward Capoen, Principal at V-Bio Ventures: “We are proud to have built an international syndicate of renowned investors for Augustine Therapeutics together with VIB. We remain involved in the management of the company while we prepare Augustine for a bright future in search of novel treatment options that will benefit patients suffering from neuromuscular diseases.”
The VIB Discovery Sciences team is taking the lead in the preclinical development of Augustine’s new therapeutics. Jérôme Van Biervliet, head of VIB Discovery Sciences: “We launched Augustine Therapeutics to start the journey of bringing truly innovative products to patients suffering from serious neuropathies. The scientific discoveries of the VIB-KU Leuven scientists provide an ideal starting point for the pipeline of the new company. From here on, the senior, industry-trained team of VIB Discovery Sciences will bring the required deep expertise in drug discovery for early-stage drug development.”
About V-Bio Ventures
V-Bio Ventures is an independent venture capital firm specialized in building and financing young, innovative life science companies. V-Bio Ventures was established in 2015 and works closely with Belgium-based VIB, one of the world’s premier life science institutes. The fund invests throughout Europe in start-up and early-stage companies with high growth potential, focusing on technologies that provide transformational improvements in the biopharmaceutical, pharmaceutical, diagnostics and agricultural sectors. More information: www.v-bio.ventures.
About VIB
VIB is an excellence-based entrepreneurial research institute in life sciences that focuses on translating basic scientific results into pharmaceutical, agricultural and industrial applications. VIB’s Innovation & Business team currently has a portfolio of 230 patent families. This team conducts about 120 partnering agreements with innovative companies each year. VIB is also firmly rooted in a long-standing tradition of setting up start-up companies. Since its foundation in 1996, VIB has created more than 20 start-up companies. VIB is funded by the Flemish government and works in close partnership with five Flemish universities – Ghent University, KU Leuven, University of Antwerp, Vrije Universiteit Brussel and Hasselt University. More information: www.vib.be.
About KU Leuven
As the number one European university for innovation, KU Leuven actively invests in launching innovative technologies in the commercial market by creating spin-off companies, securing and licensing intellectual property, and collaborating with industry. KU Leuven supports researchers and students in transforming their innovative ideas and technologies into commercial products and services that impact people’s lives worldwide. As such, KU Leuven encourages young entrepreneurs to develop a solid business plan, to validate the market and build a coherent team. Since its creation in 1972, KU Leuven Research & Development has supported the creation and growth of 128 spin-off companies, directly employing more than 6,700 people. KU Leuven’s spin-off companies constitute a huge economic leverage for the Leuven region. In the period from 2005 to 2018, KU Leuven invested 12.5 million euro in its spin-off companies, and 1 billion euro of external capital was raised. 103 of KU Leuven’s spin-off companies, of which the first was established in 1979, are still active today. Many have an international leading position. Seven spin-off companies have had an Initial Public Offering (IPO) on the stock exchange. More information: https://lrd.kuleuven.be/en.
For more information, please contact:
V-Bio Ventures
Ward Capoen
ward.capoen@v-bio.ventures
15 November 2018, Ghent (Belgium) – V-Bio Ventures leads Camel-IDS EUR 37m Series A financing to develop cancer targeted radiopharmaceuticals
Camel-IDS, a VUB spin-off company developing cancer-targeted radiopharmaceuticals, today secured EUR 37m in a Series A investment round led by V-Bio Ventures (Belgium) and Gimv (Belgium), joined by the co-lead investors HealthCap (Sweden), Novo Seeds (Denmark), Pontifax (Israel) and BioMedPartners (Switzerland). Existing investors also participated. The proceeds will enable Camel- IDS to run a phase Ib/II trial with its lead program CAM-H2 targeting HER2-positive brain metastatic breast cancer, while further progressing and broadening its preclinical pipeline.
Breast cancer patients with tumors that overexpress HER2, a growth-promoting protein, can benefit from effective targeted treatments today, yet have a poor prognosis when the cancer progresses towards the brain. Camel-IDS’ lead program CAM-H2 aims to effectively irradiate brain lesions while sparing healthy tissue, based on its unique technology platform that leverages the favorable tissue distribution of camelid derived single domain antibodies linked to radionuclides. The company’s technology platform also allows for a theranostic approach, where patients can be selected using a low dose/imaging version of the product, followed by a high therapeutic dose for treatment.
In connection with the financing Christina Takke from V-Bio, Karl Naegler from Gimv, Mårten Steen from HealthCap, Morten Graugaard Døssing from Novo Seeds and Ohad Hammer from Pontifax will join the board of directors.
Ruth Devenyns, CEO of Camel-IDS comments: ‘The successful financing underscores the potential of our innovative technology and product pipeline. We are grateful for the continued support from our existing shareholders and look forward to welcoming the new international investor syndicate that has extensive experience in leveraging platform technologies to develop multi-product opportunities.’
Tony Lahoutte, CSO and co-founder complements: ‘Brain metastases in breast cancer are devastating for patients and difficult to treat. The lead program at Camel-IDS is focused on the development of a new treatment option for this condition. We are heartened by the strong interest of the investors that will enable us to bring this treatment to the patients.’
Christina Takke, Managing Partner at V-Bio Ventures, comments: ‘The successful fundraise for Camel- IDS is testament to the investors’ appetite for excellent science and technology. This funding round will accelerate innovation that can make a difference to patients. We are excited to be part of this journey.’
About Camel-IDS
Camel-IDS (www.camel-ids.com), incorporated in 2014 as a spin-off company of Vrije Universiteit Brussel (VUB), develops novel radiopharmaceuticals, using camelid single domain antibody fragments (sdAb) labeled with radioisotopes. The company’s lead product CAM-H2, a new treatment option in HER2-positive cancers, is in early clinical development. The pipeline further consists of two pre-clinical programs leveraging the technology strengths. Camel-IDS has received seed funding from the Fournier-Majoie Foundation and three seed investors, complemented with non-dilutive funding from Innoviris.
About V-Bio Ventures
V-Bio Ventures (www.v-bio.ventures) is an independent venture capital firm specialized in building and financing young, innovative life science companies. V-Bio Ventures was established in 2015 and works closely with Belgium-based VIB, one of the world’s premier life science institutes. The fund invests throughout Europe in start-up and early-stage companies with high growth potential focusing on technologies that provide transformational improvements in the biopharmaceutical, pharmaceutical, diagnostics and agricultural sectors. V-Bio Ventures’ investment in Camel-IDS is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (“EFSI”).
Ghent (Belgium), September 18th, 2018 – The Belgian life sciences venture fund V-Bio Ventures (www.v-bio.ventures) today announces that it joins the “Series B” financing round of Horama (www.horama.fr). Horama is a French biotech company based in Paris and Nantes, which specialises in gene therapy for the treatment of rare genetic diseases in ophthalmology. Willem Broekaert, Managing Partner at V-Bio Ventures, will be appointed to the Horama Board.
This completes the “Series B” fundraising of Horama, which was initiated in October 2017 through participation of 4 new investors (Kurma Partners, Fund+, Pontifax; and Idinvest), joined by the company’s historical investors (Omnes Capital, GO Capital, and Sham Innovation Santé/Turenne). In all, Horama has raised a total of 22.5 million euros in its “Series B” financing round.
This fundraising will mainly support the development of Horama’s lead program, HORA-PDE6B. HORA-PDE6B is a drug candidate for the treatment of retinitis pigmentosa caused by mutations in the PDE6B gene. This gene replacement therapy provides a non-mutated copy of the PDE6B gene to express a functional PDE6β protein. There is today no treatment for retinitis pigmentosa. HORA-PDE6B is currently undergoing a Phase I/II clinical study which was started in November 2017.
Horama also has in its portfolio HORA-RLPB1, a gene therapy product aimed at treating RLBP1-based retinal dystrophy, which is currently in preclinical phase, as well as other preclinical gene therapy programs.
For Christine Placet, CEO, and Russell Greig, Chairman of Horama: “We are delighted to welcome V-Bio Ventures among Horama’s investors. This new financial partner takes part in our ambition and commitment to develop innovative treatments for rare ocular diseases. Their trust and support, illustrated by this fundraising, will be another lever allowing us to speed up our development of new treatments for patients, such as HORA-PDE6B for treating retinitis pigmentosa.”
“Horama’s solid scientific data package combined with its goal-oriented approach and highly experienced management team, attracted us to this investment opportunity,” says Willem Broekaert, Co-Founder and Managing Partner of V-Bio Ventures. ” New gene therapy treatments in the ophthalmic field hold a lot of promise for patients with visual impairment, and we are delighted to help Horama reach its ambitious goals in this field.”
–Ends–
About V-Bio Ventures
V-Bio Ventures (www.v-bio.ventures) is an independent venture capital firm specialized in building and financing young, innovative life science companies. V-Bio Ventures was established in 2015 and works closely with Belgium-based VIB, one of the world’s premier life science institutes. The fund invests throughout Europe in start-up and early-stage companies with high growth potential focusing on technologies that provide transformational improvements in the biopharmaceutical, pharmaceutical, diagnostics and agricultural sectors.
About Horama
Horama (www.horama.fr) is a clinical-stage biotech company that develops gene-therapy treatments, based on recombinant adeno-associated virus (rAAV) vectors, targeting rare inherited retinal diseases. Horama was founded in 2014 by a team of academic researchers who conducted, in 2011, one of the first clinical trials of gene therapy applied to ophthalmology in France.
About HORA-PDE6B
HORA-PDE6B is a recombinant adeno-associated viral (rAAV) vector developed for the treatment of retinitis pigmentosa due to a mutation in the PDE6B gene. This gene replacement therapy provides an unmutated copy of the human PDE6B gene to replace the defective gene, in order to induce the expression of a functional PDE6β protein in the rod outer segment. HORA-PDE6B is administered as a sterile suspension of viral particles, injected directly into the subretinal space. This triggers the expression of the transgene in the rods as well as in the cones.
Contacts:
V-Bio Ventures
willem.broekaert@v-bio.ventures
Horama
Christine Placet
c.placet@horama.fr
Press: ALIZE RP
Caroline Carmagnol / Aurore Gangloff / Elise Guyot
Tel: +33 (0)1 44 54 36 66
horama@alizerp.com
Aphea.Bio focusses on plant-bacterial interactions for the development of biopesticides and biostimulants based on naturally occurring microorganisms.
VIB, Ghent University and KU Leuven have launched a new spin-off: Aphea.Bio. This new company will develop sustainable agricultural products based on natural microorganisms to increase crop yields and to protect them against specific fungal diseases.
Thanks to a successful Series A financing round and an R&D grant approved by Flanders Innovation & Entrepreneurship (VLAIO), Aphea.Bio is now backed by 9 million euros of funding, giving it a clear shot at a leading position in the fast-emerging market of biopesticides and biostimulants. Headquartered in Ghent, Belgium, Aphea.Bio will be led by CEO Dr. Isabel Vercauteren and CSO Dr. Steven Vandenabeele.
The VIB spin-off pulls together resources and expertise in plant-bacteria interactions of the lab of prof. Sofie Goormachtig (VIB-Ghent University) and microbiome know-how contributed by the group of prof. Jeroen Raes (VIB-KU Leuven).
Aphea.Bio will develop next generation ‘biopesticides’ based on natural microorganisms. These products will provide an alternative for chemical pesticides, which are currently under serious pressure. In addition, the company will develop novel ‘biostimulants’, i.e. microorganisms that stimulate crop growth, for example through promoting the uptake of nutrients from the soil.
Dr. Isabel Vercauteren, CEO Aphea.Bio: “This financing puts us in an excellent position to develop new and superior agricultural products based on naturally occurring microorganisms that have a growth promoting or protective effect on the plant. We distinguish ourselves in this growing and competitive market through our unique technology platform. A large number of microorganisms that coexist with plants haven’t been isolated so far, yet our expertise allows us to exploit this untapped microbial space. Our applications are focused on staple crops such as wheat, barley and maize, because they offer the most valuable European and global market opportunities.”
In total, Aphea.Bio has raised 7.7 million euros in capital. The series A financing round was led by V-Bio Ventures and was joined by a broad syndicate of investors including PMV, Agri Investment Fund, VIVES, Qbic II, Gemma Frisius Fund KU Leuven, Group De Ceuster and VIB itself.
Furthermore, Flanders Innovation & Entrepreneurship (VLAIO) has approved an R&D grant worth 1.3 million euros, bringing Aphea.Bio’s total financial resources to 9 million euros.
Dr. Willem Broekaert, Managing Partner V-Bio Ventures: “We are highly pleased to have built a strong investor consortium that provides the necessary financial backing for this innovative start-up company. This group of investors also brings along a unique network through their relationships with scientific institutions and key players in the agricultural sector.”
Dr. Johan Cardoen, Managing Director VIB: “This is a great example of the vital impact of basic plant research on sustainable agriculture. All stakeholders are committed to propel Aphea.Bio into a leading position in the agro-biologicals sector. The last piece of the puzzle has been laid to make this company successful: there is now a strong team in place composed of passionate scientists with academic as well as strong industry background.”
Octimet Oncology announced today that it has completed its series A investment round. The cancer start-up was able to secure €11.3 million from an investment syndicate led by V-Bio Ventures and Fund+. Other participating investors include DROIA Oncology Ventures and OMNES Capital. Founded in 2016, Octimet has licensed highly selective MET kinase inhibitors from Janssen Pharmaceutica and will focus on advancing the development of these molecules. MET is a popular for cancer drugs, since the receptor is mutated in a broad range of cancer types. The company can build on a strong existing pre-clinical and clinical data set originally generated by Janssen and licensed to Octimet together with the molecules. Octimet is based at the brand new JLINX facilities on the Janssen campus in Beerse, Belgium. Christina Takke, managing partner at V-Bio Ventures: “We are excited being part of this new venture. Octimet’s approach combined with new scientific evidence, a very strong clinical candidate and led by a seasoned management team enables the development of truly differentiated treatment options. This Series A closing supported by a well-diversified investor base is testament to both the quality of the assets as well as of the entire team.” Jan Van den Bossche, partner at Fund+: “We are convinced that Octimet is uniquely positioned to play a significant role in the development of new cancer treatments. The impressive dataset that was available and the experienced and highly motivated management team provided us the necessary comfort to support this exciting venture. Moreover, Octimet fits perfectly with our policy to develop a leadership position for the life sciences sector in Belgium.” Timothy Perera, CEO of Octimet: “We look forward to providing effective new treatment options for selected cancer patients backed by a highly engaged and experienced group of investors. Our long-standing experience in cancer drug development using innovative clinical development and biomarker strategies will allow us to rapidly generate clinical proof of concept for innovative drugs in areas of high unmet medical need.“
After an initial closing in November 2015, V-Bio Ventures now expands its already impressive investor roster and establishes itself as one of Europe’s largest early stage life sciences investment funds.
The Ghent-based life science fund V-Bio Ventures has announced the final closing of its first fund. While the fund was already up and running in November of last year, the team has now further increased its capital to manage a total of €76 million. New participants in the fund include UGent, Gimv, BNP Paribas Fortis Private Equity and federal investment vehicle FPIM/SFPI. They complete the already existing supporters Korys, ARKimedes, KULeuven and the European Investment Fund (EIF).
V-Bio hasn’t been idle in its first year: the fund has invested in three promising young companies. Orionis Biosciences and Confo Therapeutics are two spin-outs from VIB, exemplifying V-Bio’s close relationship with the research institute. UK-based eye specialist Oxular Ltd (formerly Precision Ocular Ltd) was identified as a third opportunity.
Also the fund’s team expanded since last year. Ward Capoen joined from Candrian Investment group while Katja Rosenkranz, originally from Munich and with extensive tech transfer experience, gives the team some international flair. Together with Managing Partners Christina Takke and Willem Broekaert, they form the team of seasoned professionals behind V-Bio Ventures.