The funding was led by an international syndicate with equal contributions from Andera Partners, Fund+, Hadean Ventures, Inkef Capital and Sunstone Life Science Ventures, with participation from existing investors.
The company said the funding will primarily be used to accelerate the development of Microlyse, its lead compound, which is designed to bind to a protein found in all forms of thrombosis and is currently being developed for thrombotic thrombocytopenic purpura (TTP). ) and acute ischemic stroke (AIS).
Due to the targeted nature of the therapy, TargED said it should lead to a superior side effect profile alongside the potential for exceptional potency compared to current agents.
The treatment is administered intravenously, in a hospital setting.
TargED was founded in July 2020 by Coen Maas, Associate Professor in the Department of Clinical Chemistry and Hematology, University Medical Center Utrecht, who is an expert in thrombosis and hemostasis, together with Steven de Maat, who has a background in recombinant protein development and optimization, AIS researcher Marc van Moorsel and industry veteran Kristof Vercruysse, who has over 20 years of experience bringing biopharmaceutical compounds to market preclinical proof of concept, including caplacizumab for thrombotic thrombocytopenic purpura at Ablynx between 2007 and 2013.
Olivier Litzka, Partner at Andera Partners, commented: “Microlyse is a therapeutic innovation that has great potential to significantly reduce the burden of disease related to thrombotic events.
The strength of Microlyse is to target only pathological blood clots without interfering with normal coagulation, necessary to avoid the risk of hemorrhage, the main risk associated with current treatments, explained the investor to BioPharma-Reporter.
Regarding next steps, Litzka explained how TargED will now begin to structure its team, engage with regulatory authorities and continue its preclinical development.
“After regulatory and CMC preclinical development, Microlyse is expected to first be tested for safety in healthy volunteers within approximately two years. Once this stage is complete, clinical development in patients with TTP or AIS can begin.”