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TargED closes €1.35mln seed investment and partners with UMC Utrecht for the development of Microlyse

TargED Biopharmaceuticals, a biotech spin-off of the University Medical Center Utrecht founded by Associate prof. Coen Maas, PhD, Steven de Maat, PhD, Marc van Moorsel and Kristof Vercruysse, raised EUR 1.35 million to develop a unique biotechnological drug for rapid degradation of blood clots that obstruct the vasculature. The funds include a seed investment from FIRST fund, Curie Capital and Utrecht Health Seed Fund as well as a public-private-partnership with UMC Utrecht, supported by additional funding from Health Holland.

Every year, approximately 1.3 million Europeans and 800.000 US citizens have a first stroke. Stroke is the second most common cause of death and a major cause of disabilityin developed economies. The majority of stroke events are caused by an occlusion of a blood vessel(thrombosis). TargED’s Microlyse, a new proprietary clot-busting compound,binds to a protein that is present in all forms of thrombosis, ranging from those that obstruct the largest vessels to the smallest vessels in the body (microvasculature). Due to its unique mechanism of action, Microlysecan stimulate a natural pathway that dissolves these blood clots. This therapeutic approach can be used torapidlyeliminateocclusive blood clots and has the potential to outperform current stroke caretherapeutics.Next to acute ischemic stroke, thrombosis is seen in a wide range of cardiovascular conditions for which TargED expects that Microlyse is also applicable, such as the life-threateningdisease TTP (thrombotic thrombocytopenic purpura).

Kristof Vercruysse, interim CEO of TargED said:”The first results of Microlyse based on the work of Coen Maas and Stevende Maat underscore the potential of Microlyse to break down blood clots in various diseases. We appreciate the support from our investors to realizenext development steps, and I am honored to be part of a company that has the potential to positively impact millions of lives by enabling patient access to these lifesaving treatments.”

Bart van der Worp, MD PhD,Neurologist specialized in cerebrovascular diseases at the University Medical Centerin Utrecht, stated: “Given its mode of action, Microlyse has the potential not only to improve the chance of recanalization of an occluded artery as compared to intravenous thrombolysisusing currently available drugs, but also to reduce the risk of intracranial bleeding, the most feared complication of thrombolysis. Greater efficacy and an improved safety profile could lead to better outcomes for thousands of patients worldwide.To assess the potential benefit of Microlyse, further preclinical and clinical research is needed.”

Rianne Ellenbroek,PhD,Investment Manager of FIRST commented: “We areveryexcited to support the TargED team ontheir journey to further develop the strong scientific work Coen Maas and Steven de Maat have established with support of the Dutch CardioVascular Alliance(DCVA). Microlyse is a therapeutic innovation that has a strongpotential tolowerthe burden of cardiovascular diseases related to thrombotic events.”

Source: Curie Capital (Press release)