ExeVir, which is developing single domain antibody therapies providing broad protection against viral infections, today announces that it has closed its Series A financing raising a total of EUR 42 million / US$50 million. The financing was led by Fund+ with VIB, UCB Ventures, SFPI-FPIM, V-Bio Ventures and new investors SRIW, Noshaq, Vives IUF, SambrInvest, as well as several Belgian family offices.
ExeVir will use the financing to commence the global phase 1b/2 clinical trial of lead compound XVR011 that is scheduled to start shortly. The company also plans to develop a VHH72-Fc sub-cutaneous formulation for Covid-19 in parallel and accelerate development of its pipeline beyond Covid-19 in infectious diseases.
Torsten Mummenbrauer, CEO of ExeVir Bio, said: “With this funding we can commence the phase 1b/2 clinical study of our lead compound XVR011, designed as a registration trial targeting conditional or emergency approval, in this exceptional health care situation. Furthermore, it allows us to accelerate the formulation development and the initiation of manufacturing. We want to thank our investors for their outstanding support in this unique situation and want to affirm our commitment to the international effort against Covid-19, to support healthcare systems and offer global access to our new treatment.”
Philippe Monteyne, Partner at Fund+ and current Chairman of the Board of Exevir, added: “In only 9 months from set up, ExeVir has made fantastic progress in the development of lead compound XVR011 which is now ready to move into clinical development. We are proud that Belgium is at the forefront of international efforts in cutting-edge research, innovation and science. Across the country, the highly developed life sciences industry and deep pool of capital, is enabling Exevir to accelerate development of its promising, potentially life-saving treatment for patients worldwide.”
The single domain antibody (VHH) technology platform was developed by VIB-UGent scientists, Professors Xavier Saelens and Nico Callewaert. Based on the recent research published in BioRxiv by the VIB scientists on the XVR011 antibody, which demonstrated highly potent and broad neutralizing activity and infection protection against SARS-Cov-2, variants of concern and related coronaviruses, the XVR011 antibody is expected to be effective against SARS-Cov-2 and importantly, its rapidly spreading variants and other Sarbecoviruses to emerge in future.
Caroline Thielen, Investment Manager at SRIW will join the Board of ExeVir Bio alongside Torsten Mummenbrauer, CEO of ExeVir Bio, Philippe Monteyne, Partner at Fund+, Erica Whittaker, Head of UCB Ventures, Jérôme Van Biervliet, Managing Director at VIB, Stef Heylen representing SFPI-FPIM, Professor Michel Kazatchkine as independent director and Katja Rosenkranz, Partner at V-Bio Ventures (observer), Joel Henneghien at Vives IUF (observer) and Louis Declerck at Fund+ (observer).
Speaking on behalf of the Walloon public players (SRIW, Noshaq and SambrInvest), Caroline Thielen, Investment Manager at SRIW, said: “We are very excited to invest in an innovative project with such a high societal impact. We are convinced that ExeVir will benefit from our regional ecosystem to boost its growth.”