- Phlox Therapeutics raises additional seed funding to develop RNA therapies for genetic laminopathies
- Funds will advance the company’s lead program into preclinical development
9 May 2023, Naarden, The Netherlands – Phlox Therapeutics (“Phlox”), a private biotechnology company specializing in developing innovative RNA-therapeutics for rare genetic cardiomyopathies, has secured additional seed funding to advance Phlox’s lead program aimed at rare genetic laminopathies. In this funding round Innovation Fund Noord Holland (INH), AMC Ventures Holding, and Utrecht Health Seed Fund (UHSF) have joined forces with existing investor FIRST, managed by BioGeneration Ventures (BGV), to support Phlox’s efforts. Phlox will use the funds raised in the seed financing round to advance the company’s lead program into preclinical development. This round will also enable Phlox to continue to build its team and expand its platform technology.
The company’s platform technology enables simultaneous targeting of multiple lamin mutations. The versatile nature of these RNA-designs eliminates the need for generating mutation-specific compounds to treat each distinct mutation, rendering these compounds suitable for most lamin mutations. Phlox is committed to utilizing this proprietary platform technology to develop RNA-therapies that can effectively treat genetic diseases resulting from mutations in a single gene. This includes addressing laminopathies, a specific and frequently severe form of heart failure caused by structural protein defects in the cardiac cell nucleus due to mutations in the lamin gene.
Commenting on the seed financing round, Phlox’ CMO and cardiologist Yigal Pinto said, “We are thrilled to have the support of this group of investors as we work towards developing life-changing RNA-therapies for many of my patients who struggle with a cardiomyopathy for which there are no disease modifying therapies. This funding will enable us to accelerate our efforts to bring these therapies to the clinic and help improve the lives of our patients that are suffering from this destructive disease.”
Wouter Keij, Fund Manager of Innovation Fund Noord-Holland commented on behalf of all four investors “We are excited to work with the Phlox team and to support such an impactful innovation to pave a way for more RNA-based therapies to come. We are proud to be backing Phlox in their effort to bring these potentially life-changing therapies to those in need for treatments for cardiac diseases.
***ENDS***
Contact
Margien Boels
Director of Operations
M: +316 4842 5428
E: margien.boels@phloxtherapeutics.com
About Phlox Therapeutics
Phlox Therapeutics is a biotechnology company that develops first-in-class RNA therapies for cardiomyopathies. Phlox’s lead program focuses on laminopathies, a rare inherited cardiomyopathy that can cause a plethora of symptoms affecting the heart as well as skeletal muscles. Next to its program in laminopathies, Phlox Therapeutics is aiming to leverage similar RNA-based strategies to target other cardiomyopathies. As such, Phlox Therapeutics strives to develop multiple gene therapies that are able to reduce the negative effects caused by genetic mutations. Learn more at www.phloxtherapeutics.com.
About Innovation Fund Noord Holland
Innovatiefonds Noord-Holland (“INH”) is an initiative of the Province of North Holland, the University of Amsterdam, the Vrije Universiteit Amsterdam, the Amsterdam University of Applied Sciences, Amsterdam UMC and Sanquin, with support from the Netherlands Enterprise Agency & the European Union through the European Regional Development FundINH supports entrepreneurs within various sectors in the Province of North Holland by financing innovations in the Proof-of-Concept phase through providing convertible loans. For more information, please visit: www.innovatiefondsnoordholland.nl.
About AMC Ventures Holding
AMC Ventures Holding is an early-stage investor in academic spin-off companies from the Academic Medical Center (AMC). AMC Ventures Holding works closely with academics and entrepreneurs at the earliest stage of company formation to support the commercialization of knowledge. For more information please visit: www.amcventuresholding.nl.
About Utrecht Health Seed Fund
Utrecht Health Seed Fund (UHSF) is an early-stage life sciences & health investment fund based out of Utrecht, The Netherlands, focused on scalable technologies in the field of Life Sciences (therapeutics and diagnostics), Medical Devices, Digital Health, and Animal Health, in the earliest stages of development. UHSF is established by Utrecht Holdings with the assistance and support of the European Regional Development Fund (ERDF), UMC Utrecht, and the University of Utrecht. For more information, please visit www.uhsf.nl
About Fonds InvesteringsRijpe Starters FIRST
Fonds InvesteringsRijpe STarters (FIRST) is a pre-seed fund that finances pioneering scientists in The Netherlands active in the emerging fields of regenerative medicine and cardiovascular diseases. FIRST is founded by the Dutch CardioVascular Alliance (DCVA) and Regenerative Medicine Crossing Borders (RegMed XB) with support of the Netherlands Enterprise Agency. Naarden based BioGeneration Ventures (BGV) supports the FIRST fund as a registered fund manager, making available its network, expertise, and facilities. For more information, please visit: www.biogenerationventures.com/en/about_us/first.