Participated · Equity · Jul 2022

Biosyntia develops bio-based manufacturing processes with in-house capabilities spanning microbial engineering, fermentation optimization, product purification, formulation and sales. It focuses on creating more natural and sustainable active ingredients such as vitamins and antioxidants for beauty and nutrition. The company has proprietary technologies including Biosynthetic Selections, which reduce the risk, cost and time for developing fermentation processes. Its first commercial product is a bio-based biotin (vitamin B7) for use in dietary supplements, food and beauty products. Biosyntia operates from labs and offices in Copenhagen and employs about 20 scientists and business developers, led by CEO Martin Plambech. It has several commercial partnerships with large market players, including Givaudan and WACKER. Biosyntia is a Denmark-based biotech startup that develops processes for biological production of vitamins. It applies a synthetic biology and metabolic engineering platform to develop biocatalysts and employs a patent-pending high-throughput screening technology. Its first focus area is bio-based production of vitamins for the food and feed industry. The company is led by technology co-inventor Hans Genee and Morten Sommer, with Henrik Dalbøge as chairman. Biosyntia completed a Danish KR12.5m (approximately US$1.9m) funding round led by Novo Seeds. In conjunction with the financing it entered a collaboration with the Center for Biosustainability at the Technical University of Denmark, and Søren Carlsen and Søren Møller of Novo will join Biosyntia’s board.

Participated · Series C · Dec 2021

NorthSea Therapeutics (NST) develops structurally engineered fatty acids (SEFAs) with a lead oral molecule, icosabutate, aimed at treating NASH and associated metabolic comorbidities. NST currently has three SEFA programs in the clinic: icosabutate (phase 2b completed enrollment with strong interim biomarker and safety results), SEFA-1024 (phase 1 for dyslipidemia) and SEFA-6179 (entering phase 1 for IFALD). Interim data for icosabutate showed reductions in liver injury, inflammation and fibrosis biomarkers plus improvements in atherogenic lipids and glycemic control; preparations for phase 3 are planned next year with top-line results anticipated in Q1-2023. SEFA-1024 is expected to advance to phase 2 in Q1-2023, and SEFA-6179 has secured funding for a phase 2 study scheduled by Q1-2023. NST licensed its lead compound and SEFA library from Pronova BioPharma Norge AS and is headquartered in the Netherlands with a presence in Norway and the US. The company closed a USD 80 million Series C to advance its clinical and late-clinical pipeline. NorthSea Therapeutics is a Dutch biotech developing structurally engineered fatty acids (SEFAs) to treat NASH and other metabolic, inflammatory and fibrotic diseases. Its lead candidate, icosabutate, is a structurally designed fatty acid that regulates pathways involved in hepatic lipids, inflammation and fibrosis and has shown safety and effectiveness in two prior Phase 2 studies for hypertriglyceridemia. NST initiated a Phase 2b dose-ranging ICONA study for icosabutate in July 2019 and in September 2019 announced dosing of the first patient and initiation of around thirty US clinical sites. The company licensed icosabutate and a library of discovery- and preclinical-stage SEFAs from Pronova BioPharma Norge AS. Proceeds from the recent financing will be used to complete the Phase 2b ICONA study and to advance two additional SEFA programs into the clinic. NST plans to start a Phase 1 study for SEFA-1024 (dyslipidaemia) in the second half of 2020 and a Phase 1 for SEFA-6179 (PNALD) in the first half of 2021. NorthSea Therapeutics (NST) focuses on developing structurally engineered fatty acids (SEFAs) for inflammatory and liver diseases. Its lead compound, icosabutate, was licensed from Pronova BioPharma Norge AS. NST intends to advance icosabutate as an oral treatment for NASH toward phase III readiness, funding clinical and non-clinical toxicology studies and CMC development. The company is led by CEO Rob de Ree, CMO Patrick Round, COO Hilde Steineger, CSO David Fraser, and VP Chemistry and CMC Tore Skjaeret. NST is supported by clinical and scientific advisors including Prof. Scott Friedman, Prof. Detlef Schuppan, and Dr. John Kastelein. The company has employees in the Netherlands, the UK and Norway.

Led · Series A · Apr 2021

Adcendo is advancing a pipeline of first- and potential best-in-class antibody-drug conjugates, integrating novel targets and optimized linker-payload combinations. The company is progressing three ADC programs: ADCE-T02 (Tissue Factor) in a Phase I Tiffany-01 cohort expansion across multiple solid tumors, ADCE-D01 (uPARAP) in Phase 1 dose escalation and expansion for soft tissue sarcoma and other mesenchymal cancers, and ADCE-B05 (undisclosed target) in preclinical evaluation and planned dose escalation in squamous cell carcinomas. Founded in 2017, Adcendo is headquartered in Copenhagen with operations in Boston, Massachusetts, and is led by a team with extensive ADC development and commercialization experience. The recent $75 million Series C financing is intended to fund the programs through upcoming clinical milestones and data readouts. No revenue or other operating metrics were disclosed in the provided articles.

Participated · Series B · Jan 2021

IO Biotech is a Copenhagen-based clinical-stage biopharmaceutical company developing immune-modulating anti-cancer therapies built on its proprietary T-win® technology. The T-win platform enables activation of T cells that are specific for immune-suppressive molecules. Its pipeline includes two lead compounds targeting IDO and PD-L1 that are in clinical development and several additional candidates in pre-clinical phases. The company is led by founder and CEO Mai-Britt Zocca, PhD. IO Biotech intends to use proceeds from its recent financing to fund clinical trials across early and late-stage immuno-oncology programs, including a large randomized trial of IO102 and IO103 with anti-PD-1 monoclonal antibodies in metastatic melanoma. The U.S. FDA granted breakthrough therapy designation on December 15, 2020 for the IO102/IO103 plus anti-PD-1 combination in unresectable or metastatic melanoma.

Participated · Series C · Jan 2021

CorWave develops cardiac assist devices that leverage wave membrane technology to produce a physiological operation. Its devices are designed to mimic a pulse and blood flow rates similar to those of a healthy heart. This approach differs from today’s commercially available left ventricular assist devices (LVADs). The company intends to use newly raised funds to finance the next stages of its development. CorWave was founded in 2021 and is led by CEO Louis de Lillers. The firm is based in Clichy, France. CorWave develops an implantable wave membrane pump LVAD designed to reduce complications associated with current cardiac assist devices. The company plans to use the new funds to complete development of its pump, expand manufacturing infrastructure, finish regulatory testing required for human implants, and start clinical trials for advanced heart failure. CorWave has achieved two critical technical milestones: a successful 60-day in vivo implant with excellent hemocompatibility results and completion of six-month real-time durability tests. Incorporated in 2012 by MD Start and led by CEO Louis de Lillers, the French medtech employs more than 50 people. Prior to the Series C, CorWave had secured over €45 million of equity and non-dilutive funding. The company raised €35 million in the Series C to advance toward the clinical phase. CorWave develops mechanical circulatory support devices—specifically a left ventricular assist pump that mimics the native heart’s flow pattern. Its disruptive pumping technology is intended to overcome limitations of rotary LVADs, which are associated with high rates of stroke, bleeding and infection. The company says its R&D team has de-risked the technology and is gathering evidence that it could improve clinical outcomes. CorWave plans to use the new funding to prepare its pump for a first-in-man study. The company was incorporated by MD Start in 2011 and previously raised a Series A in 2013. Management includes CEO Louis de Lillers, chairman Gérard Hascoët, and R&D lead Carl Botterbusch.