Precirix raises EUR 80m in Series B to advance its pipeline of precision radiopharmaceuticals

BRUSSELS, March 16, 2022 /PRNewswire/ -- Precirix NV, a clinical-stage biotechnology company developing precision radiopharmaceuticals in oncology, today announces the closing of a EUR 80m Series B financing round led by new investors INKEF Capital,  Jeito Capital and Forbion as co-leads.

"We are delighted to announce this major milestone and are grateful for the strong investor support. The addition of Inkef, Jeito and Forbion, three leading VC funds in the healthcare sector, significantly reinforces our international shareholder base," said Ruth Devenyns, CEO of Precirix. "The investment will allow Precirix to accelerate its growth trajectory and to further validate and broaden the technology platform."

Precirix's platform brings together several unique features and facilitates the development of radiolabelled single-domain antibodies (sdAbs) for multiple targets, in combination with different isotopes and applicability in various settings. The company's lead product candidate, CAM-H2, is currently in a Phase I/II study for the treatment of HER2-positive metastatic breast and gastric cancer. The study allows inclusion of patients with brain metastases, a population in urgent need of effective therapies. Initial imaging data provide confidence in the potential of CAM-H2 to address the unmet medical need in this population. Patients are now being enrolled in the second cohort of the dose-escalation phase, following the absence of any dose-limiting toxicities in the first cohort and a positive review from the Safety Review Committee.

The proceeds of this financing round will fund the development and expansion of Precirix's pipeline. More specifically, the company will advance CAM-H2 through its ongoing Phase I/II study, and plans to bring additional novel radiopharmaceuticals to the clinic. Precirix will also focus on further strengthening the platform, using its potential to generate new product candidates, linkers and CMC processes.

Simone Botti, Partner at INKEF Capital, Sabine Dandiguian, Managing Partner at Jeito and Jasper Bos, General Partner at Forbion Growth will join Precirix's Board of Directors.

Simone Botti, Partner at INKEF Capital said, "Radiopharmaceuticals are showing great promise as therapies for difficult-to-treat cancers. Precirix's innovative platform based on sdAb carriers has potential to truly improve clinical outcomes for patients. We are excited to support Precirix on its continued progress advancing first in class targeted radiopharmaceuticals towards commercialization."

Sabine Dandiguian, Managing Partner at Jeito Capital said, "We are thrilled to co-lead this round with the ambition to support Precirix in bringing a breakthrough new alternative to patients suffering from advanced cancer, in total coherence with Jeito's mission: 'Go faster for the patient, further with the entrepreneur'."

Jasper Bos, General Partner at Forbion, working in the company's Growth Fund noted, "Forbion Growth was launched with the aim to build a portfolio of 10-12 investments in the most promising European late-stage life sciences companies. Precirix exemplifies the type of company we invest within the fund. I am confident of our ability to enable the team to build and transform patients' lives."

The company's existing shareholders Gimv, HealthCap, Novo Holdings, Pontifax Venture Capital, V-Bio Ventures, BioMed Partners, as well as the seed investors, continue to support the company having all participated in the round

About Precirix NV

Precirix is a private, clinical-stage biopharmaceutical company founded in 2014 as a spin-off from the VUB, dedicated to extending and improving the lives of cancer patients by designing and developing precision radiopharmaceuticals, using camelid single-domain antibodies labelled with radioisotopes. The company has a broad pipeline with one product candidate in a Phase I/II clinical trial and two in advanced preclinical stage. Research on multiple isotopes, linker technology and combination therapies further expand the platform. Precirix's technology also allows for a theragnostic approach, where patients can be selected using a low dose/imaging version of the product, followed by a therapeutic dose for treatment.

About INKEF Capital

INKEF Capital is a leading venture capital firm based in Amsterdam with a proven history in backing promising early-stage companies in Europe. INKEF takes pride in being a patient, long-term investor with the ability to support companies through several funding rounds all the way up to IPO. From the early stages of being a technology or life science venture, INKEF supports entrepreneurs building their ideas into successful international businesses. INKEF's investments include Onward Medical, Castor, iOnctura, Cardior and GitLAb, Remote among others.

About Jeito Capital

Jeito Capital is a global leading investment company with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports entrepreneurs through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients' access in Europe & the United States. Jeito Capital has EUR 534m under management. Jeito Capital is based in Paris with a presence in Europe and the United States.

About Forbion

Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands, Germany and Singapore. Forbion invests in life sciences companies that are active in the (bio-) pharmaceutical space.

Forbion manages well over EUR 1.8 billion across multiple fund strategies that cover all stages of (bio)pharmaceutical drug development. Forbion's current team consists of over 20 life sciences investment professionals that have built an impressive performance track record since the late nineties with successful investments in over 79 companies. The firm is a signatory to the United Nations Principles for Responsible Investment. Besides financial objectives, Forbion selects investments that will positively affect the health and well-being of patients.

SOURCE Precirix