Participated · Series A · Aug 2026

Kynexis is developing KYN-5356, a potential first-in-class oral small-molecule inhibitor of KAT-II intended to reduce brain kynurenic acid (KYNA) and restore signaling involved in cognition. The company’s initial clinical focus is cognitive impairment associated with schizophrenia (CIAS), with plans to expand into other cognitive disorders including Alzheimer’s disease. KYN-5356 is the company’s most advanced program and has demonstrated favorable safety, central nervous system penetration, and dose-dependent reductions in cerebrospinal fluid KYNA in Phase 1. Kynexis has completed enrollment in a randomized, double-blind, placebo-controlled Phase 2 trial of ~150 adults across 13 U.S. sites evaluating a 28-day adjunctive treatment and expects topline results by the end of 2026. The company has a U.S. subsidiary based in Cambridge, Massachusetts, and recently added senior business development leadership to support its clinical and corporate strategy.

Participated · Series A · Dec 2025

TargED Biopharmaceuticals B.V., founded in 2020 as a spin-out from University Medical Center Utrecht, is focused on TGD001, an antibody-enzyme fusion protein that binds von Willebrand factor (VWF) and degrades both VWF and fibrin to dissolve clots. The therapy has completed a Phase 1 first-in-human study that showed a favorable safety profile with no spontaneous bleeding events and potent thrombolytic activity. With its latest funding, the company will initiate two Phase 1/2 clinical studies targeting acute ischemic stroke and thrombotic microangiopathies, expanding trial sites across Europe and the U.S. and aiming for first data in 2026. Unlike approved thrombolytics that target a single pathway, TGD001 leverages the ubiquitous presence of VWF to enable broad clot dissolution. TargED has raised over €60 million in Series A financing to date and also received a blended-finance grant from the European Innovation Council Accelerator in 2025. The fresh capital strengthens its balance sheet and accelerates clinical development toward demonstrating proof-of-concept in multiple life-threatening indications.

Participated · Series C · Oct 2025

Founded in 2014, Step Pharma is pioneering inhibition of cytidine triphosphate synthetase-1 (CTPS1) to create highly selective cancer therapies that spare healthy tissue. Its lead compound, dencatistat, is in a phase 1a dose-escalation study for solid tumours and is also being tested in a phase 1/2 trial for relapsed or refractory T- and B-cell lymphoma, an indication for which it holds FDA orphan-drug designation. A third clinical programme is underway in essential thrombocythaemia, and phase 1b expansion cohorts for CTPS2-null ovarian and endometrial cancers are slated to begin enrolling in 2026, with a lung-cancer cohort planned. CTPS2 loss occurs in roughly 15-20 % of these gynaecological tumours, creating a synthetic-lethal dependency on CTPS1 that dencatistat is designed to exploit. Proceeds from recent financing will also fund drug manufacture and pivotal toxicology ahead of phase 2 studies. Headquartered in Saint-Genis-Pouilly, France, the company is backed by investors such as Kurma Partners, V-Bio Ventures, Bpifrance, Pontifax, Hadean Ventures, Sunstone Life Science Ventures and others, and it closed a €38 million Series C round in October 2025.

Led · Series A · Jan 2024

Resalis Therapeutics develops RNA-based therapies aimed at treating the root causes of complex metabolic disorders. Its lead candidate, RES-010, is a first-in-class antisense oligonucleotide that targets miR-22 to reprogram metabolic pathways. The company reports robust preclinical data suggesting potential for sustained, high-quality weight loss and reductions in visceral and hepatic fat. Resalis says RES-010 could complement existing anti-obesity drugs such as GLP-1 receptor agonists by addressing underlying biology. The company is preparing to initiate a Phase 1 clinical trial and intends to use new proceeds to accelerate advancement through a Phase 2 proof-of-concept study. Resalis is supported by investors including Claris Ventures, Sunstone Life Science Ventures and private investors from Italian Angels for Growth and Club degli Investitori. Resalis Therapeutics is developing RES-010, an antisense oligonucleotide that targets miR-22 to provide a disease-modifying approach to obesity. RES-010 is designed to reduce fat mass and extend treatment durability, including in combination with approved therapies such as GLP-1 receptor agonists. In preclinical proof-of-concept studies in large and small animal models, RES-010 showed potential for safe and longer-lasting therapeutic effects. The company highlights preservation of muscle mass as important for sustained clinical benefit and tolerability. RES-010 is patent-protected in the US, Japan and China, with patents pending in the EU. Resalis plans to initiate a Phase 1 clinical study in the first half of 2024 and to use proceeds to reach Phase 2 readiness. Resalis Therapeutics is developing a non-coding RNA (ncRNA) modality targeting miR-22 to treat metabolic diseases such as obesity and nonalcoholic fatty liver disease (NAFLD). Its lead candidate, RES-010, is an antisense oligonucleotide (ASO) inhibitor of miR-22 that showed promising proof-of-concept efficacy and durable effects in rodent and non-human primate studies. The company aims to finalize IND-enabling studies to support a first-in-human clinical trial planned for early 2024. Resalis emphasizes a disease-modifying approach intended to deliver durable weight loss and reduction of hepatic steatosis, alone or in combination with approved drugs. Leadership changes concurrent with the financing include the appointment of Alessandro Toniolo, PhD, as CEO, and board representation from Claris Ventures. The funding announced will accelerate development of RES-010 toward clinical entry.

Participated · Equity · Oct 2023

MinervaX is advancing a prophylactic vaccine against Group B Streptococcus (GBS) based on research from Lund University. Its candidate is a protein-only vaccine composed of fusions of highly immunogenic and protective protein domains from selected surface proteins of GBS (the Alpha-like protein family), distinct from traditional capsular polysaccharide (CPS) conjugate approaches. The company has reported Phase II data suggesting superior efficacy compared with other GBS vaccine candidates. MinervaX intends to use the fresh financing to support commencement of a Phase III clinical trial of its maternal vaccine. The company was established in 2010 and is led by CEO Per Fischer. It is headquartered in Copenhagen, Denmark. MinervaX is a Copenhagen-based biotechnology company led by CEO Per Fischer developing a prophylactic vaccine against Group B Streptococcus (GBS) for maternal immunization. Its vaccine approach is based on fusions of highly immunogenic and protective protein domains from selected surface proteins of GBS (the Alpha-like protein family) and derives from research at Lund University. The company intends to use the new funding to advance late-stage development of its GBS vaccine candidate in preparation for a Phase 3 clinical trial. Financially, MinervaX raised a total of €72M in the announced financing, comprising a €22M equity round and a €50M loan facility. The €22M equity round was led by Trill Impact Ventures and Pureos Bioventures with participation from REPAIR Impact Fund, Sunstone Life Science Ventures, LF Investment, Wellington Partners, Sanofi Ventures, Adjuvant Capital and Industrifonden. Bita Sehat of Trill Impact Ventures and Veronica Gambillara of Pureos Bioventures will join MinervaX's board as part of the transaction. MinervaX is developing GBS-NN, a maternal vaccine based on two surface proteins (Rib and AlphaC) intended to prevent Group B streptococcus infections in newborns and adverse pregnancy outcomes. Early clinical data indicate subsequent doses raise antibody levels above expected protective thresholds, including in participants with low baseline antibodies. The company completed phase 1 studies in 300 healthy females and has begun a phase 2 program, with the first five subjects dosed in South Africa. The new funding will allow MinervaX to complete phase 2 trials and prepare for phase 3, including midstage trials in the U.S. and Europe. Management highlights a large potential market—WHO estimates ~100 million women will require the vaccine globally and a potential commercial market of about $1 billion annually. MinervaX positions its protein-based approach in contrast to capsular polysaccharide (CPS) conjugate vaccines, which have shown poorer performance in individuals with low pre-existing antibody levels. The company frames the vaccine as a way to reduce reliance on intravenous antibiotics, which are costly and can drive antimicrobial resistance. MinervaX is developing a protein-only GBS vaccine for maternal immunization, based on fusions of immunogenic and protective protein domains from selected surface proteins of GBS (the Alpha-like protein family). The company’s vaccine is positioned as likely to have superior characteristics compared with other GBS vaccine candidates that use traditional capsular polysaccharide conjugate technology. MinervaX is advancing therapies to combat antimicrobial resistance (AMR) and is focused on preventing life-threatening infections in newborns by vaccinating pregnant women. The company plans to use recent funds to finalize Phase I development of its protein-only GBS vaccine. MinervaX was established in 2010 and is led by CEO Per Fischer, D.Phil. Its work is based on research from Lund University.