Gimv invests in SynOx Therapeutics which raises EUR 37 million to develop emactuzumab for treatment of tenosynovial giant cell tumors
Gimv is investing in newly formed SynOx Therapeutics through a Series A round of EUR 37 million along with HealthCap, Medicxi and Forbion. SynOx will continue the development of emactuzumab after securing world-wide rights for the development, manufacturing and commercialization of emactuzumab under a license agreement with Roche.
Emactuzumab is a potential best-in-class clinical-stage CSF-1R targeted antibody designed to target and deplete macrophages in the tumor tissue. It has shown a favorable safety profile and encouraging efficacy in patients with diffuse tenosynovial giant cell tumors (dTGCT), a rare oncology disease. The disease is characterized by pain, swelling and range of movement limitations resulting in a significant impact on quality of life. It typically affects patients aged 20-50 years with an estimate of 70,000 patients in the US and EU5.
The proceeds of the financing round will be used to continue development of emactuzumab to establish a treatment option for dTGCT patients.
Bram Vanparys, Partner at Gimv, commented: “We are very pleased with this new investment, which perfectly fits our Gimv life sciences strategy. Our team focuses on solving unmet medical needs by investing in solid preclinical or clinical stage assets and platforms with first-in-class or best-in-class potential.”
Michaël Vlemmix, Principal at Gimv, adds: “We are looking forward to bringing a therapy to market for patients who today have limited treatment options available. Emactuzumab has already proved its worth in diffuse TGCT patients and it is now time to continue and finalize its development. I am proud to work together with our co-investors and management to turn this endeavour into a success story.”
For further information, we refer to the company’s press release in attachment.