Complement Therapeutics gains €72m in Series A financing for novel therapeutics research
pharmafile | April 17, 2023 | News story | Medical Communications |
Preclinical stage biotechnology company Complement Therapeutics (CTx) has announced the completion of its Series A financing round, led by Gimv, a private equity and venture capital fund, co-led by Forbion ‒ an existing investor ‒ and joined by BioGeneration Ventures (BGV), Panakès Partners, Cambridge Innovation Capital (CIC), Hadean Ventures and Seroba Life Sciences.
CTx will use the funding to further the development of a phase 1b proof-of-concept clinical trial for its candidate CTx001. CTx001 is an AAV gene therapy for the treatment of Geographic Atrophy (GA) secondary to dry age-related macular degeneration (dry-AMD). It is hoped that CTx001 will provide superior efficacy and lower the burden of treatment due to it being a single-dose therapy.
Dr Rafiq Hasan, CEO and MD at Complement Therapeutics stated: “With a potentially highly differentiated lead asset combined with a precision medicine approach, we are excited by the opportunity to further develop CTx001 for the treatment of GA through to the clinic. The support of this broad syndicate enables us to generate additional data demonstrating CTx001’s unique and differentiated mechanism of action, with the potential to transform the treatment landscape in geographic atrophy.”
Michaël Vlemmix, principal in the life sciences platform of Gimv said: “We are proud to have been able to build this syndicate and look forward to supporting Complement Therapeutics in its next phase of development. The company and its team combine deep research insights, strong industry background, and a robust understanding of complement-mediated conditions, in particular GA secondary to AMD. These strengths, coupled with a focus on addressing the significant unmet need in GA, positions the company to change the way the disease is addressed and potentially achieve meaningful therapeutic impact.”
James Spargo
