Vico Therapeutics Announces $60 million (€54 million) Series B Financing to Advance VO659 Clinical-Stage Program for Rare Neurological Diseases and Expand Pipeline
- Funding supports ongoing Phase 1/2a clinical trial evaluating VO659 in patients with spinocerebellar ataxia type 3 and type 1 and Huntington's disease
- Financing led by Ackermans & van Haaren along with Droia Ventures, EQT Life Sciences and Kurma Partners with participation from Polaris Partners, Pureos Bioventures and Eurazeo
LEIDEN, Netherlands, Jan. 5, 2024 /PRNewswire/ -- Vico Therapeutics B.V., a clinical-stage genetic medicines company developing therapies for severe neurological diseases, today announced a $60 million (€54 million) Series B financing. The financing was led by new investor Ackermans & van Haaren (AvH) with existing co-leads Droia Ventures, EQT Life Sciences and Kurma Partners along with prior investors Polaris Partners, Pureos Bioventures and Eurazeo.
"This financing positions us to accelerate our efforts to advance our lead program VO659, currently in a Phase 1/2a clinical study of patients with spinocerebellar ataxia types 3 and 1 and Huntington's disease," said Micah Mackison, chief executive officer at Vico. "We are pleased that a team of highly sophisticated investors, led by new investor AvH, have joined in this financing round, further validating our progress and the significant potential of VO659 to transform the lives of patients living with these devastating neurodegenerative diseases for which there are currently no disease-modifying treatments available."
The financing will support overall company operations including advancement of the ongoing Phase 1/2a multi-center, open-label basket trial of VO659 in patients living with spinocerebellar ataxia type 3 (SCA3) and type 1 (SCA1) and Huntington's disease (HD). The trial is designed to assess the safety and tolerability of multiple ascending doses of VO659 administered intrathecally in participants with mild to moderate SCA3, SCA1 and early manifest HD, with the first patient dosed in April 2023. The financing will also help support discovery and research efforts to further expand the company's pipeline in other genetic neurological diseases.
The company also announced that Jeroen Vangindertael, Ph.D., investment manager at AvH, will join Vico's board of directors. Prior to joining AvH in September 2020, Dr. Vangindertael was at BNP Paribas Fortis where he supported biotechnology companies through private equity investments.
"We are proud to support Vico in this financing round as they continue to advance their lead clinical program and further develop a portfolio of novel antisense oligonucleotides," said Dr. Vangindertael. "We are impressed by Vico's progress in the clinic and believe their strong management team is well positioned to execute on their mission to bring their innovative therapies to patients in need."
"The investment in Vico fits perfectly in AvH's Life Sciences investment strategy where we aim to offer growth capital to ambitious biotech companies building their clinical pipeline," added Piet Dejonghe, co-CEO of AvH.
About Vico Therapeutics B.V.
Vico Therapeutics is a clinical-stage genetic medicines company developing antisense oligonucleotide (ASO) RNA modulating therapies for patients with severe neurological diseases. Our lead product candidate, VO659, is currently in Phase 1/2a clinical development for the treatment of spinocerebellar ataxia types 3 and 1 and Huntington's disease and is the only ASO in the clinic that targets the underlying CAG repeat expansions that cause all nine known polyglutamine diseases. Vico's research platform designs fit-for-purpose ASOs by applying precision chemistry with mechanisms of action ideally suited to target genetic neurological diseases. For more information, visit www.vicotx.com.
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SOURCE Vico Therapeutics B.V.
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