Netherlands-based clinical-stage genetic medicines company developing therapies for severe neurological diseases, Vico Therapeutics raised USD 60 million in funding. The round took place on January 5, 2023. Ackermans & van Haaren led the financing for the company. Droia Ventures, EQT Life Sciences and Kurma Partners participated in the funding. Besides, Polaris Partners, Pureos Bioventures and Eurazeo joined in the financing. In addition, the company announced the appointment of Jeroen Vangindertael, PhD, investment manager at AvHt to Vico’s board of directors.
Purpose of financing for Vico Therapeutics
With the latest financing, the company seeks to support overall company operations including advancement of the ongoing Phase 1/2a multi-center. It also seeks to fund the expansion of open-label basket trials of VO659 in patients living with spinocerebellar ataxia type 3 (SCA3) and type 1 (SCA1) and Huntington’s disease (HD). The trial assesses the safety and tolerability of multiple ascending doses of VO659 administered intrathecally in participants with mild to moderate SCA3, SCA1 and early manifest HD, with the first patient dosed in April 2023. Besides, the company supports discovery and research efforts to further expand the company’s pipeline in other genetic neurological diseases.
What the company’s official has to add
Micah Mackison, chief executive officer at Vico, said, “This financing positions us to accelerate our efforts to advance our lead program VO659, currently in a Phase 1/2a clinical study of patients with spinocerebellar ataxia types 3 and 1 and Huntington’s disease. We are pleased that a team of highly sophisticated investors, led by new investor AvH, have joined in this financing round, further validating our progress and the significant potential of VO659 to transform the lives of patients living with these devastating neurodegenerative diseases for which there are currently no disease-modifying treatments available.”
What the investors have to comment
Dr Vangindertael, further added, “We are proud to support Vico in this financing round as they continue to advance their lead clinical program and further develop a portfolio of novel antisense oligonucleotides,” said “We are impressed by Vico’s progress in the clinic and believe their strong management team is well positioned to execute on their mission to bring their innovative therapies to patients in need.”
In addition, Piet Dejonghe, co-CEO of AvH, commented, “The investment in Vico fits perfectly in AvH’s Life Sciences investment strategy where we aim to offer growth capital to ambitious biotech companies building their clinical pipeline.”
About Vico Therapeutics
Vico Therapeutics is a clinical-stage genetic medicines company. It develops antisense oligonucleotide (ASO) RNA-modulating therapies for patients with severe neurological diseases. Their lead product candidate, VO659, is currently in Phase 1/2a clinical development. It seeks to treat spinocerebellar ataxia types 3 and 1 as well as Huntington’s disease. The product is the only ASO in the clinic targeting the underlying CAG repeat expansions causing all nine known polyglutamine diseases. Vico’s research platform designs fit-for-purpose ASOs by applying precision chemistry with mechanisms of action ideally suited to target genetic neurological diseases
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