ExeVir Bio, a Belgian biotech firm creating nanobody therapies for broad safety towards infectious illnesses, has secured a enterprise debt financing settlement of as much as €25 million ($26.5 million) with the European Funding Financial institution (EIB).
The EIB financing will assist advance ExeVir Bio’s lead asset, XVR012, into medical trials for COVID-19.
ExeVir Bio’s COVID-19 improvement program will deal with improvement of candidates for each remedy and prophylaxis. The corporate stated it is going to be essential for shielding the big variety of immunocompromised folks, roughly 3% of the final Western inhabitants, who stay at excessive danger of extreme COVID-19 illness regardless of the provision of present vaccines.
ExeVir Bio leverages its modular llama-derived antibody (VHH) expertise platform to generate multi-specific antibodies for prophylaxis and remedy towards COVID-19. ExeVir Bio is evaluating extremely potent, heavy-chain primarily based antibodies, that are distinctive in focusing on the subunits of the coronavirus spike protein through extremely conserved epitopes, S1 and S2.
The S2 area is very conserved, making viral ‘escape variants’ much less probably, however it’s arduous to focus on with most different approaches. A number of excessive potential binders supply the potential of heterodimer binders to the spike protein in a single molecule or a cocktail.
Additional medical improvement for ExeVir Bio’s lead candidate
Exevir Bio’s candidates exhibit sturdy efficiency and breath, neutralizing all recognized earlier and present SARS-CoV-2 variants of concern. The corporate continues to watch and display screen for neutralization of rising viral variants of concern. ExeVir Bio’s lead preclinical improvement candidate, XVR012, might be prepared for additional medical improvement in 2023.
Torsten Mummenbrauer, CEO of ExeVir Bio, stated: “The ExeVir workforce has rapidly developed vital experience in leveraging its modular nanobody platform to handle COVID-19. We at the moment are utilizing that have to search out speedy, efficient options for brand new variants of this infectious illness, notably as interventions to guard and deal with the immunocompromised inhabitants, that continues to reside in worry, have elapsed.
“COVID-19 has confirmed to be a devastating and extremely unpredictable illness for this most weak inhabitants. We’re extraordinarily happy to safe the EIB’s assist and endorsement at such a pivotal time for the Firm, to make sure this unmet want is addressed in COVID-19 and preparations are in place for future pandemics.”
Fiona du Monceau, COO of ExeVir Bio, stated: “This funding from the EIB will assist the event of our lead asset, XVR012. It’ll enable us to advance on our scientific roadmap, in addition to assist us to pursue our bold progress technique and set up us as a very European biotech champion combating infectious illnesses with excessive unmet medical wants.
“With EIB’s assist, we are able to proceed to deal with defending populations for whom vaccines should not enough and who’re unable to make use of antiviral therapies, such because the immunocompromised, in addition to on getting ready for future pandemics. We purpose to convey our first product to market which has the potential to develop into a crucial instrument within the toolbox for combating COVID-19.”