AMSTERDAM, The Netherlands– VectorY Therapeutics, a biotech company focusing on the development of innovative gene therapy approaches for the treatment of muscular and neurodegenerative disorders through vectorized antibodies, today announces the completion of a €31 million seed financing round.
The oversubscribed round was co-led by founding investor Forbion and a leading global investment firm. BGV and Eli Lilly and Company also joined the syndicate.
The proceeds from this seed financing will be used by the Company to establish pre-clinical proof of concept for vectorized antibodies in target indications of ALS and Alzheimer’s. The Company will also use the funds to establish proprietary manufacturing capabilities, including a state-of-the-art GMP facility in the Netherlands.
VectorY was launched in October 2020, and has established its laboratories and offices at the Amsterdam Science Park in The Netherlands. The Company is developing a pipeline of vectorized antibodies targeting muscular and CNS diseases, based on a novel AAV platform and innovative antibody-based targeted degradation technologies. These non-immunogenic viral vectors have enhanced properties of cell type specificity, thus improving delivery, durability and accessibility of targeted tissues and cells.
Today, the Company also announced the appointment of a new Chief Executive Officer, Alexander Vos, and Chief Technology Officer Dr. Sander van Deventer, both highly experienced pioneers in the cell and gene therapy field. Further expansion of the team is also planned. See the VectorY website for the full announcement: www.vectorytx.com.
The Company’s Board of Directors will continue to be chaired by Dr. Carlo Incerti, previously Chief Medical Officer of Sanofi Genzyme. Marco Boorsma, General Partner at Forbion, who has acted as interim-CEO since company inception, will become a member of the Board. (IANS)
