Ysios Capital, a Spanish management company specializing in investments in the biotechnology and life sciences sectors, has led the financing round for the Dutch company Varmx, raising $36 million (€32 million), as the management company has stated.
Ysios Capital co-led the round with Inkef Capital, which was joined by two new investors, Lundbeckfonden Ventures and LSP, as well as the existing investors, BioGeneration Ventures and InnovationQuarter. This capital increase will enable the company to advance in the clinical development of its compound VMX-C001 for the treatment and prevention of severe bleeding in patients using oral anticoagulants. It will also enable Varmx to accelerate the drug’s manufacturing process towards commercial scale and to research new drugs in this pathology.
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Varmx will use the capital to advance the clinical development of its compound for the prevention of bleeding
Currently, more than ten million patients in the United States and Europe are prescribed oral anticoagulants, factor Xa inhibitors, for the treatment of chronic diseases such as atrial fibrillation and stroke prevention. Each year, 3% of patients treated with these types of anticoagulants experience severe, life-threatening spontaneous bleeding. In addition, a significant number of these patients will have to undergo emergency surgery at some point, with the associated risk of bleeding.
VXM-C001 could offer advantages over other treatments for this indication such as a lower risk of thromboembolic events, easier administration and universal treatment of bleeding regardless of the type of oral anticoagulants used, as highlighted by the private equity firm.
Guillem Laporta, head of the investment in Varmx and principal at Ysios Capital, commented that “Varmx has caught our interest due to the scientific quality of its programs.The data generated suggest that VMX-C001 could become a differentiated treatment in a constantly growing market.”
Following the funding round, Guillem Laporta, Roel Bulthuis of Inkef Capital, Casper Breum of Lundbeckfonden Ventures and John de Koning of LSP joined the company’s board of directors.
Varmx is a spin-off from Leiden University Medical Center, founded in 2016 by Professor Pieter Reitsma, an expert in haemostasis and thrombosis. VarmX’s most advanced product, VMX-C001, is a recombinant protein based on human factor X and a fragment of the venom of the Australian brown snake, Pseudonaja textilis. The compound is being developed for the treatment of severe spontaneous bleeding in patients treated with oral factor Xa inhibitor anticoagulants.
Ysios Capital is an investment manager, based in San Sebastian and Barcelona, specializing in investments in life science companies developing disruptive therapeutic products. Founded in 2008, it manages close to $395 million (€350 million).
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