Versantis Secures CHF 16 Million Series B Financing to Advance Clinical Development of Novel Liver Disease Therapy VS-01

On September 23, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Swiss biotechnology company Versantis announced the completion of a CHF 16 million Series B financing round. The round was led by Swisscanto Invest, with participation from Esperate Ventures and Investiere, as well as existing investors Redalpine HealthEquity and Zürcher Kantonalbank Start Finance.

Versantis will use the proceeds from this financing round to complete the Phase 1b study of VS-01, evaluate the safety of VS-01 after multiple doses, and conduct clinical trials in patients with decompensated cirrhosis and those with rare acute-on-chronic liver failure (ACLF) to demonstrate its efficacy.

Versantis is a clinical-stage biotechnology company headquartered in Zurich, Switzerland, focused on developing therapeutics for liver diseases and pediatric congenital disorders. Founded by leading scientists and industry experts from Zurich, the company leverages its proprietary liposomal detoxification platform technology to pioneer innovative treatments for the acute care of severe liver diseases.

Versantis’s lead drug candidate, VS-01, employs a disruptive approach to clear ammonia and other toxins from patients’ bodies. The company’s mission is to provide highly effective treatment options for patients with acute decompensation of liver cirrhosis and rare pediatric genetic disorders causing hyperammonemia. VS-01 is currently undergoing evaluation in its first-in-human clinical trials, with results expected to be announced in mid-2020. The FDA has granted VS-01 orphan drug designation for the treatment of acute liver failure, which will streamline its clinical evaluation process.

Approximately 850 million people worldwide die from liver disease each year. In addition to traditional hepatitis and alcohol-related liver diseases, the prevalence of non-alcoholic fatty liver disease (NAFLD/NASH) has been rising in recent years. Most patients with cirrhosis eventually require hospitalization due to complications such as hepatic encephalopathy (HE) or acute-on-chronic liver failure (ACLF). To date, no approved drugs are available for treating these conditions, and VS-01 is designed to urgently fill this medical gap.

Vincent Forster, CEO and Co-Founder of Versantis, stated, “Since Versantis went public, we have successfully translated our unique technology into an efficient therapy that is currently being evaluated in patients with liver cirrhosis. This serves as further testament to the significant accomplishments of the entire Versantis team. We are delighted to secure the support and collaboration of this group of top-tier life sciences investors, which will help us fulfill our mission. With this funding, we aim to demonstrate the clinical efficacy of VS-01 and become a pioneer in the treatment of severe liver disease.”

Dr. Meram Kabbaj, Chief Operating Officer and Co-Founder of Versantis, commented, “This financing represents one of the most significant milestones achieved by Versantis to date, aimed at evaluating the safety of VS-01 in patients with cirrhotic ascites and mild hepatic encephalopathy. We hope this therapy will improve the lives of patients with liver disease and their families.”

Swisscanto Invest is Switzerland’s largest and unique asset management company, dedicated to providing comprehensive, high-quality capital to partner companies.

Esperate Ventures, founded in 2004 and headquartered in the Netherlands, is a private seed-stage investment firm specializing in healthcare investments.

Investiere, founded in 2007 and headquartered in Switzerland, is a private investment firm. The company provides direct and professional venture capital investments to private and institutional investors.

Redalpine, headquartered in Zurich, Switzerland, is a venture capital firm. The company focuses on startups in the European life sciences and ICT sectors.

Zürcher Kantonalbank Group is one of Switzerland’s largest fund providers, renowned for its pioneering role in sustainable investment.

(Compiled by Hu Yifan)