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Precirix NV raises €80m in Series B financing

With €80m from a Series B financing in its pocket, Belgian Precirix NV plans to advance its pipeline of precision radiopharmaceuticals.

The Series B financing round was led by led new investors INKEF Capital, Jeito Capital and Forbion. “The investment will allow Precirix to accelerate its growth trajectory and to further validate and broaden the technology platform,” said Ruth Devenyns, CEO of Precirix.

Precirix’s has several radiolabelled single-domain antibodies (sdAbs) for multiple cancer targets in its pipeline. The company’s lead product candidate, CAM-H2, is currently in a Phase I/II study for the treatment of HER2-positive metastatic breast and gastric cancer. The study allows inclusion of patients with brain metastases, a population in urgent need of effective therapies. Initial imaging data provide confidence in the potential of CAM-H2 to address the unmet medical need in this population. Patients are now being enrolled in the second cohort of the dose-escalation phase, following the absence of any dose-limiting toxicities in the first cohort and a positive review from the Safety Review Committee.

According to the 2014 spin-out company from VUB (Ghent), it will use the money to advance CAM-H2 ongoing Phase I/II study and to bring two additional novel radiopharmaceuticals to the clinic. Precirix will also focus on further strengthening the platform, using its potential to generate new product candidates, linkers and CMC processes.

The company’s existing shareholders Gimv, HealthCap, Novo Holdings, Pontifax Venture Capital, V-Bio Ventures, BioMed Partners, as well as the seed investors, continue to support the company, having all participated in the round.