TargED Biopharmaceuticals has raised €39million in a Series A funding round to accelerate the development of its clot-busting drug, Microlyse.
The drug has been designed to break down clots much faster than currently-used drugs such as alteplase.
It is essential to remove blood clots as soon as possible in cases of ischemic stroke.
The longer the delay in blood reaching the brain, the greater the chance of severe disability or death.
Kristof Vercruysse, Chief Executive Officer of TargED, said:
“We are delighted to have the support of this international syndicate of world class life science investors, a validation of the potential of Microlyse.
“We are proud to be developing products that have the potential to positively impact millions of lives by enabling patient access to such lifesaving treatment.”
The fusion protein drug combines an antibody fragment with a fragment of a clot-busting enzyme.
The antibody part seeks a protein target called von Willebrand factor while the enzyme breaks down the clot.
In a recent rodent study, Microlyse cleared small clots seven times faster than approved drug, caplacizumab.
“We are happy that our pioneering efforts on the design of an enzyme that targets blood clots led to compelling preclinical data recently published in the journal Blood” said UMC Utrecht Associate Professor Coen Maas and scientific co-founder of TargED.
“It is exciting to see that this work has been able to attract such a strong syndicate of investors, which will now allow us to develop Microlyse towards therapeutic breakthrough, potentially across a range of indications with high unmet medical need.”
