Imcyse Secures €35 Million Financing to Advance Active Specific Immunotherapies for Severe Chronic Diseases

VCBeat (WeChat ID: vcbeat) has learned that on June 21, Imcyse, a company developing targeted immunotherapies, announced the completion of a €35 million (approximately $39.5 million) financing round, which included a €28 million ($31.6 million) Series B round and €6.6 million (approximately $7.5 million) in other financing.

In this round of financing, a €28 million equity investment was led by Life Sciences Partners, FPIM-SFPI, and SRIW. Additionally, Imcyse received a grant worth €4.6 million ($5.2 million) from the Walloon Region (DGO6) and secured a €2 million ($2.3 million) bank loan from Belfius.

The proceeds from the financing will be allocated to three purposes: first, to advance the Phase II clinical development trials of Imcyse’s modified peptide (Imotops) technology for the treatment of type 1 diabetes; second, to initiate clinical trials for multiple sclerosis and other autoimmune diseases; and third, to expand the technology to other indications.

Imcyse is a Belgium-headquartered company developing active, antigen-specific immunotherapies to treat and prevent severe chronic diseases. The company primarily employs modified peptides with the potential to prevent and cure severe chronic autoimmune disorders, targeting conditions such as type 1 diabetes, multiple sclerosis, and other autoimmune diseases that currently lack curative treatments.

Modified peptides can induce the lysis of antigen-presenting cells (APCs) and activate self-antigen-specific bystander T cells on their surface. APCs are induced by antigen-specific cytolytic CD4+ T cells. The Imcyse technology platform demonstrates the ability to specifically eliminate antigen-presenting cells and self-reactive, target-specific lymphocytes without affecting other functions of the immune system.

At the end of 2017, Imcyse initiated a double-blind, placebo-controlled, dose-escalation clinical trial in seven European countries (Belgium, Denmark, France, Germany, Lithuania, Sweden, and the United Kingdom). The study enrolled patients with recently onset insulin-dependent type 1 diabetes. The trial investigated the safety, immune response, and efficacy of modified peptide technology, with results expected to be released in the summer of 2019.

Pierre Vandepelière, CEO and CMO of Imcyse, stated: “We are delighted to have secured this funding. We believe that Imcyse’s technology holds great promise for patients suffering from serious conditions such as type 1 diabetes, multiple sclerosis, and many orphan indications. The success of this financing round is a clear endorsement of the Imcyse team by investors, and we will continue our efforts to enhance our platform and achieve outstanding results.”

LSP is an independent European investment firm that provides financing to private and public life sciences companies. Since the 1980s, LSP has invested in approximately 100 innovative enterprises, many of which have become global leaders in the life sciences industry. The firm’s total investments exceed $1.2 billion, and it currently maintains offices in Amsterdam, Munich, and Boston.

FPIM-SFPI was established in Belgium in 2006 as a venture capital firm investing in economic and cross-sectoral initiatives. The company centrally manages the federal government’s equity holdings, collaborates with the government on specific projects, and pursues an investment policy aimed at benefiting the Belgian economy.

SRIW, established in 1979, is a venture capital firm based in Belgium. The company has developed a wide range of customized solutions to assist clients in securing financing. Its core business areas include equity investments, subordinated loans, convertible loans, and mezzanine financing.

Belfius is a comprehensive bank and insurance company in Belgium. The company provides a full range of banking and insurance products to retail customers, small and medium-sized enterprises, public institutions, non-profit organizations, and large corporations.

(Compiled by: Li Chengping)