Zwijnaarde, Belgium-based biotechnology company which specializes in advancing immune modulators, Dualyx, raised EUR 40 million (USD 44 million) in Series A. The round took place on May 15, 2023. Fountain Healthcare Partners, Forbion and Andera Partners co-led the financing for the company. Meanwhile, existing investors V-Bio Ventures, BGV, PMV, VIB, HTGF, and GFF joined in the Series A round.
As a part of the deal, Ena Prosser, Partner at Fountain Healthcare Partners, Juliette Audet, Partner at Forbion, and Aneta Sottil, Director at Andera Partners, intends to join Dualyx’s Board as non-executive directors. In addition, Bernard Coulie, CEO of Pliant Therapeutics, joins the company as Independent Chairman with immediate effect.
Purpose of financing for Dualyx
With the latest capital injection from Series A, Dualyx seeks to progress its lead autoimmune program DT-001, as well as its pipeline of Treg candidates.
What the company’s official have to add
Bernard Coulie, Independent Chairman of Dualyx, said, “It’s clear to me that TNFR2 is a validated and exciting target for autoimmune therapies, and I am confident that Dualyx has all the ingredients for success with its lead program. I’m therefore delighted to join the Board as Chairman while Dualyx heads towards the clinic. I look forward to working closely with Wouter, Luc and the rest of the Dualyx management team over the coming years.”
In addition, Wouter Verhoeven, CEO of Dualyx, said, “Attracting the expertise and support of top-tier investors to Dualyx highlights the potential of the work to date in our DT-001 program and, more importantly, completes our high-quality international investor base. We extend a warm welcome to Bernard as Chairman, and I am confident that the combined support of our new board will enable progress with our highly promising TNFR2 program and, ultimately, our goal of addressing hard-to-treat autoimmune diseases.”
About the company
Luc Van Rompaey launched the company in 2021. Dualyx’s launch is in a collaboration model with Wurzburg University, Argenx, VIB, Ghent University, as well as KU Leuven. Dualyx’s lead program DT-001 targets the highly attractive TNF receptor 2 (TNFR2). It is widely regarded as a master control switch in immune modulation. Through state-of-the-art antibody development, Dualyx has developed an agonist to the receptor. It shows highly selective activation of regulatory T cells (Tregs). So far, the promising results observed from pre-clinical research with DT-001 and investigational new drug (IND)-enabling studies have begun.
DT-001 holds promise to be a game-changing treatment option for a broad range of autoimmune diseases.
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