Imcyse raises a total of € 35 million in equity and grants and will use proceeds to facilitate clinical development of it’s technology in type 1 diabetes, multiple sclerosis and other indications
Liège, Belgium, June 18, 2019 – Imcyse, a developer of active specific immunotherapies for the treatment and prevention of severe chronic diseases, yesterday announced that it has raised €35 million ($39.5 million) in a Series B financing round (€ 28 million) led by LSP, and grants.
LSP as lead investor was joined by other new and existing investors like Epimède, SRIW, SFPI, Biogenosis, Noshaq and KU Leuven. Further to this, Imcyse also received grants and loans worth close to € 7 million from local institutions.
These proceeds will be used to advance phase 2 clinical development of Imcyse’s ImotopesTM technology in type 1 diabetes, to initiate clinical trials in multiple sclerosis and other auto-immune diseases and to expand the technology to further indications.
Imcyse’s unique technology platform uses modified peptides (ImotopesTM), which have the potential to cure and to prevent severe chronic autoimmune diseases, such as type 1 diabetes, multiple sclerosis and other auto-immune diseases, for which there are currently no cures.
At the end of 2017, Imcyse launched a double-blind, placebo-controlled, dose-escalation clinical study in patients with recent onset insulin-dependent type 1 diabetes in seven European countries (Belgium, Denmark, France, Germany, Lithuania, Sweden and the UK). The trial investigates the safety, immune responses and efficacy of Imcyse’s ImotopesTM technology, with results expected end of summer 2019.
“Imcyse’s unique technology platform has shown great potential and we are thrilled to see it advance in type 1 diabetes as well as it being extended to novel indications,” said Jörg Neerman, Partner at LSP.”
“We are delighted to have raised this substantial amount of private and public financing for our future research and clinical developments,” said Pierre Vandepapelière, CEO and CMO of Imcyse. “The success of this round is a further validation of the technology platform, following already established collaborations with major pharma companies. We are convinced that Imcyse’s technology can bring great hope for patients with severe diseases such as type 1 diabetes, multiple sclerosis and many orphan indications. It is also a clear recognition for Imcyse’s team, who have worked hard to improve the platform and the company and to generate excellent results.”
Imcyse develops active targeted immunotherapies to treat and prevent severe chronic diseases caused by disruptions of the immune system. The company’s unique active immunotherapy technology platform allows it to destroy locally the immune cells involved in the destruction of the diseased organ. This platform is based on the administration of ImotopesTM, which are specific modified peptides, allowing for the generation of a new type of T-cell, called cytolytic CD4. Imcyse’s approach, sustained over time, helps to prevent and treat diseases with no current therapeutic alternative and to cure the patient without impairing immune defenses.
The company has established proof of concept and has launched its first clinical trial in type 1 diabetes in seven European countries. Other projects, which address multiple sclerosis and rheumatoid arthritis, are at preclinical and proof-of-concept research stages, respectively.
Founded in 2010, Imcyse is a spin-off from the KU Leuven university, Belgium. The company is based near the Belgian city of Liège. It is managed by a group of pharmaceutical industry experts. www.imcyse.com
LSP (Life Sciences Partners) is an independent European investment firm, providing financing for private and public life sciences companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. Since the late 1980s, LSP’s management has invested in about 100 innovative enterprises, many of which have grown to become leaders in the global life sciences industry. With over €2.0 billion ($2.3bn) of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe’s leading life sciences investors. LSP also invests in public companies through its Euronext-listed LSP Life Sciences Fund (Bloomberg: LSP NA). www.lspvc.com
Dr. Joerg Neermann
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