Based out of Amsterdam, Avidicure, a biotechnology company, announced its launch with $50M (approximately €43.8M) in a seed financing round led by EQT Life Sciences.
Additional investors, including Kurma Partners, BioGeneration Ventures, BOM, Curie Capital, and V-Bio Ventures, also participated in the round.
Avidicure: Developing multifunctional antibody modality to treat cancer
Led by Arthur Lahr, Avidicure is developing dual agonistic, multifunctional, and avidity-engineered antibodies, “AVC-Boosters”, that can safely deliver targeted and potent cancer monotherapy.
The AVC-Booster design surpasses the best qualities of first-generation antibodies, checkpoint inhibitors, T-cell engagers, and antibody-drug conjugates (ADCs).
“AVC-Boosters have the potential to change the treatment landscape for a wide range of cancers as first-in-class multifunctional antibody products that safely mobilize the full power of the immune system,” says Arthur Lahr, Chief Executive Officer of Avidicure.
“Our products drive targeted and potent immune responses only in the tumor with reduced toxicity risk. We are eager to build a broad pipeline with our unique platform and progress our lead oncology product, AVC-S-101, into clinical development for solid tumors,” adds Lahr.
With the AVC-Booster plug-and-play functionality, multiple products can be developed, claims the company.
Avidicure’s lead product, AVC-S-101, is a TROP2-targeting booster that is being developed for non-small cell lung cancer and multiple other indications.
“Avidicure is taking an entirely new approach with broad clinical potential,” says Dr. Joern-Peter Halle, former Chief Strategy Officer and Global Head of Research at Merck KGaA and Chairman of Avidicure’s Scientific Advisory Board.
“Avidicure’s multifunctional antibodies provide a novel treatment modality with a unique, differentiated mode of action. These products are well-positioned to make a significant impact in the treatment of cancer patients,” adds Halle.
The company plans to present its preclinical data at the upcoming American Association for Cancer Research (AACR) Annual Meeting in April and at the American Society of Clinical Oncology (ASCO) Annual Meeting in May.
Founding management team
The company’s founding management team consists of Arthur Lahr (CEO), Dirk De Naeyer (COO), Robert Friesen (CSO), and Govert Schouten (CBO), who previously served as executive management in Crucell, Ablynx, and Kiadis, and played key roles in the acquisitions of these successful European biotech companies.
The Supervisory Board includes industry veterans Frank Verwiel (Intellia, Aptalis, Bavarian Nordic, Merck & Co.), Martijn Kleijwegt (EQT-LS), Hunter Smith (Rhythm), and Helen Collins (Five Prime, Enliven, Gilead, Amgen).
