Complix Raises €12 Million (US$15.5 million) in Series B Round
News Jun 26, 2013
Complix has announced the successful closing of a €12 million (US$15.5 million) Series B equity financing round from a syndicate of leading life sciences investors.
The fundraising was co-led by new investors Edmond de Rothschild Investment Partners (France) and Gimv (Belgium) and Biotech Fund Flanders (managed by Gimv).
Existing shareholders LRM, OMNES Capital, Vesalius Biocapital, Gemma Frisius Fund, TrustCapital, Vinnof, Baekeland Fund, CRP-Santé and management also participated in this round.
In conjunction with the fund raising Mr Gilles Nobécourt from Edmond de Rothschild Investment Partners and Mr Patrick Van Beneden from Gimv will join the Complix Board of Directors, as will industry expert Professor Thierry Hercend, MD, PhD.
Complix is developing Alphabodies, a transformative bio-therapeutic platform with the capacity to address a vast number of disease targets that are currently considered “undruggable” by the two main classes of therapeutics: small chemical drugs and therapeutic antibodies.
In particular, the ability of Alphabodies to modulate the intracellular protein-to-protein interactions (PPIs), which play a key role in the initiation and progression of many important diseases, represents a major medical and commercial opportunity for Complix and its partners.
The Series B fundraising will be used to develop therapeutic Alphabodies for treatment of cancer and autoimmune indications, and to further expand and validate the Company’s unique Alphabody platform.
Dr Mark Vaeck, CEO of Complix, commented: “Receiving the financial backing from such a high quality syndicate of international life sciences investors is a clear endorsement of the potential of our Alphabody platform to transform the future drug development landscape.
Dr Vaeck continued, “We have recently demonstrated that Alphabodies have the potential to address intractable intracellular disease targets, including PPIs that cause cancer. These data give us great confidence that our Alphabody platform can deliver the next generation drugs that the pharmaceutical industry is eagerly looking for to drive its growth and tackle a broad range of diseases where current treatment options are limited or non-existent. With the long-term support of this syndicate Complix is well-positioned to execute its ambitious business plan and make this bold vision a reality, creating tremendous value for all our stakeholders, including patients who could benefit from these new drugs.”
Mr Gilles Nobecourt from Edmond de Rothschild Investment Partners said: “We were particularly attracted by Complix´ revolutionary Alphabody platform, which has the potential to transform drug development as we know it today. The unique ability of Alphabodies to address intractable intracellular disease targets offers an unprecedented opportunity to create a new class of proprietary and truly differentiated products. We were impressed by the team at Complix which has clearly demonstrated the potential of Alphabodies within a competitive timeframe and with modest resources. Based on this success we are confident that they can deliver their ambitious development targets”
Mr Patrick Van Beneden from Gimv added: “At Gimv we are very excited by the Complix opportunity because it clearly meets the key criteria we look for when making a new life sciences investment. The Company combines high-quality and experienced management with a unique technology platform that has the potential to deliver multiple breakthrough products. These are backed by a strong IP position and a focused business plan that we believe will deliver significant shareholder value within a realistic timeframe.”