DegenRx secures funding for Alzheimer’s disease gene therapy
DegenRx, a biopharmaceutical company developing novel therapeutic solutions to treat neurodegenerative diseases, has secured financing for their antibody-based gene therapy program for the treatment of Alzheimer’s disease (AD).
Participating in this Series A financing are Swanbridge Capital and BOM Brabant Ventures, together with several private investors seasoned in the pharma and biotech industry. The company will be managed by Guus Scheefhals as Chief Executive Officer and Hans Preusting as Chief Development Officer. DegenRx aims to develop vector-based gene therapies for degenerative brain disorders, such as Alzheimer’s and Parkinson’s disease. Gene therapy aims to provide a potentially lifelong effect after a single administration. DegenRX will develop its proprietary, highly specific antibody, targeting and neutralizing toxic Alzheimer proteins in the brain that would thus slow down or ideally stop disease progression. The current funding will be used to demonstrate the feasibility of this approach in a pre-clinical model.
Guus Scheefhals, CEO of DegenRx, commented: “We are very pleased that the investors are prepared to take on this early opportunity. Degenerative diseases are having an increasing impact on society and most still lack disease-modifying treatments. This investment enables us to show that our innovative approach can work. By making the active compound in the brain, we avoid the need to pass the blood-brain barrier which is typically a significant hurdle for most drugs and certainly for the larger ones, such as antibodies. We are very excited about the potential of our program and hope it will ultimately contribute to the urgently needed benefit for AD patients.”
Nicky Rijk-Vogels, fund manager at Swanbridge Capital: “In terms of phase and technology, DegenRx fits perfectly with the mission of Swanbridge Capital. Our goal is to ensure that young biotech companies can take the next step by providing them with the necessary venture capital and relevant support. We believe in the potential of gene therapy and are happy to contribute to the broader application that DegenRx has in mind for the treatment of degenerative brain diseases. ”
Mercedes Tuin, Investment Manager Life Sciences & MedTech at BOM Brabant Ventures: “BOM Brabant Ventures invests in Brabant companies that have the potential to become disruptive world players. DegenRx has that potential. With Guus Scheefhals and Hans Preusting as Chief Development Officer on board, we have every confidence that the DegenRx team will succeed in their mission.”
Source: DegenRx press release
