Date: 2013-11-26
Type of information: Series A financing round
Company: Bioxodes (Belgium)
Investors: business angels, European Regional Development Fund (ERDF), Walloon Region via the Retech program for Research and Technology (Belgium)
Amount: € 2.6 million
Funding type: seed financing round
Planned used: The funds will be used to bring Bioxodes’s lead product Ir-CPI into pre-clinical development over the next 18 months. Ir-CPI is an antithrombotic derived from tick’s saliva, with the property of inhibiting clotting at doses which do not cause bleeding. Ir-CPI is potentially the world’s first injectable antithrombotic for use in all patient groups without causing high levels of bleeding. There is also potential to eliminate reversal or ‘washing out’ at the end of critical procedures. The market for an injectable form of such a molecule for use in hospitals is estimated to exceed $ 1 billion annually.
Others: * On November 26, 2013, Bioxodes, a company developing products derived from natural sources, has completed a € 2.6 million first seed funding round with a consortium of business angels and Belgian investment funds. € 1.6 million is from the European Regional Development Fund (ERDF) and the Walloon Region in Belgium via the Retech program for Research and Technology.
Bioxodes, led by its founding CEO and chief scientific officer, Professor Edmond Godfroid, is exploiting the results of work conducted by his former team at the Ectoparasite Molecular Biology Unit at the University of Brussels (ULB), which focused on establishing the molecular basis of host-parasite relationships. Prior to the financing, Bioxodes had completed discussions with the ULB for the transfer of full ownership of patents relevant to Ir-CPI. The company is based in Marche-en-Famenne, Belgium, with operations in the BioPark at Gosselies.
Therapeutic area:
