VectorY raises €31 million in seed financing to develop next-generation gene therapies aimed at muscular and CNS disorders
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, announces the completion of a €31 million seed financing round.
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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.
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.
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.
Alexander Vos, newly-appointed CEO of VectorY, said: “We are pleased to have attracted leading investors and knowledgeable industry partners to VectorY so soon after the launch of the Company. We are grateful for the trust placed in the strength of our team, which is testament to the credibility of our technological approach and scientific expertise. These proceeds will enable us to get the Company off to a great start to establish proof-of-concept for our vectorized antibodies and effectively tackle some notoriously challenging disease areas.”
Marco Boorsma, Board member of VectorY, commented: “Coupled with the appointments of seasoned industry experts Alexander as CEO, and Sander as CTO, this seed financing excellently places the Company to progress vectorized antibodies as therapies for serious diseases of unmet medical need, and to establish proprietary manufacturing capabilities. As I move into my new role as a Board member, I hope to be able to provide Alexander and the rest of the management team with the support required to make VectorY a great success.”
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