Dutch clinical-stage biotech company TargED Biopharmaceuticals has secured $25.2 million in a Series A extension financing round. This new capital brings the company's total Series A funding to over $70.4 million, a significant milestone for the firm. The proceeds are earmarked to accelerate the clinical development of TGD001, its first-in-class targeted therapy for thrombotic diseases.
Investor Confidence and Strategic Vision
The financing round was led by BioGeneration Ventures (BGV), with robust participation from an existing syndicate of prominent investors. This group includes Andera Partners, Fund+, Hadean Ventures, Inkef Capital, Sunstone Life Science Ventures, and Curie Capital. Their continued support underscores strong confidence in TargED's innovative approach and the potential of its lead compound.
Kristof Vercruysse, CEO of TargED, expressed optimism about the company's trajectory and the momentum behind its lead candidate. He stated that the financing enables a decisive move into the next stage of development for a therapy poised to reshape thrombosis treatment. Vercruysse emphasized TGD001's potential to offer a novel method for dissolving clots across multiple life-threatening conditions.
A Novel Approach to Clot Dissolution
TargED Biopharmaceuticals, a 2020 spin-off from the University Medical Centre Utrecht, is focused on developing targeted treatments for thrombotic diseases. Its lead compound, TGD001, is an antibody-enzyme fusion protein engineered to deliver a thrombolytic agent directly to a blood clot. This precision is designed to enhance efficacy while minimizing the systemic side effects of conventional clot-busting drugs.
The innovative mechanism of TGD001 leverages the ubiquitous presence of von Willebrand factor (VWF) in all blood clots. By binding to VWF, the therapy promotes site-specific clot breakdown through the action of the enzyme urokinase. This dual-action approach, degrading both VWF and fibrin, enables a broad and potent clot lysis capability.
Promising Clinical Progress and Future Milestones
The company recently announced positive results from its Phase 1 first-in-human study, which demonstrated a favorable safety profile for TGD001. In addition to being well-tolerated, the compound showed potent thrombolytic activity, providing a strong foundation for further investigation. These encouraging findings signal significant progress for the program and were presented at a major industry conference.
With this promising early data, TargED will advance TGD001's development for two primary indications with high unmet needs. The first is acute ischemic stroke (AIS), a leading cause of disability and death worldwide. The second is thrombotic microangiopathies (TMAs), a group of rare but severe disorders including immune thrombotic thrombocytopenic purpura (iTTP).
Accelerating Development with New Capital
The newly acquired funds will be instrumental in advancing TGD001 into the next stage of human testing. TargED plans to initiate two Phase 1/2 clinical proof-of-concept studies across multiple sites in Europe and the United States. This strategic expansion of clinical activities is a crucial step toward validating the therapy's efficacy and safety.
The company has set an ambitious timeline, with the first data from these pivotal proof-of-concept studies expected in 2026. This funding follows other recent successes, including a grant from the European Innovation Council (EIC) Accelerator programme earlier this year. This combination of private and public funding provides a robust financial runway for TargED's development plans.
This substantial Series A extension marks a pivotal moment for TargED Biopharmaceuticals, providing resources to propel its lead candidate through crucial clinical trials. The strong backing from a dedicated investor syndicate validates the promise of TGD001 as a potentially transformative treatment. As the company advances its clinical program, it moves closer to offering a new standard of care for patients.