Biotech start-up TIBEAY secures 35 million euros for first therapy for severe traumatic brain injury
Ronopterin to pharmacologically slow down neurological sequelae after traumatic brain injury for the first time
Advertisement
MIG Capital announced its participation in a financing of TIBEAY Biosciences B.V., Nijmegen, Netherlands. MIG Funds 4, 6, 12, 17 are currently providing EUR 2.5 million to the start-up and intend to increase their investment in the future. TIBEAY is a clinical biotechnology company focusing on innovative therapies for acute neurological diseases. The successful completion of the 35 million euro financing round was led by Munich-based Athos KG. The Dutch investors Meneldor and Oost NL are also involved.
TIBEAY is developing a drug for a previously unsolved challenge. Traumatic brain injury (TBI), for example as a result of serious accidents, is a very common cause of death worldwide and can lead to long-term disabilities. It is estimated that around 50 million new cases occur worldwide every year, of which around ten percent are classified as serious. In Europe alone, there are around 1.5 million annual hospital admissions. For those affected and their families, this often means lifelong restrictions with significantly impaired quality of life and independence. To date, there are no approved pharmacological therapies that specifically address the progressive damage caused by severe TBI.
While the primary damage is caused directly by the trauma, a significant proportion of the neurological sequelae are caused by secondary processes, in particular by the formation of cell-damaging reactive oxygen and nitrogen radicals.
With the drug Ronopterin, TIBEAY is pursuing the approach of selectively inhibiting inducible nitric oxide synthase (iNOS). After a brain injury, iNOS is increasingly expressed and contributes to the formation of neurotoxic oxygen and nitrogen radicals. Through this selective inhibition of iNOS, ronopterin reduces secondary brain damage and improves the neurological condition and thus the quality of life of patients with severe TBI.
The funds now raised will be used for a planned phase 3b study. This builds on the clinical findings to date and will include patients with acute severe TBI in several European countries. The study design has been further optimized based on previous clinical findings and will focus on early treatment initiation and targeted patient selection. The pivotal phase 3b study is the basis for the submission of the marketing authorization application to the European Medicines Agency (EMA).
In addition to the clinical development of the first-in-class active ingredient Ronopterin, the funds will also be used for the manufacture of the investigational product, securing the supply chain and for regulatory and operational preparations with a view to possible approval in Europe. In addition, selected preparatory activities will be initiated to support future market access.
What makes TIBEAY particularly attractive for MIG Capital is the promising potential of ronopterin. The active ingredient makes it possible to set a new standard in a previously unoccupied, clearly definable market segment and is therefore also highly relevant for specialized pharmaceutical and commercialization partners.
Andreas Kastenbauer, Partner at MIG Capital, comments: "With TIBEAY, we are investing in a promising therapeutic approach. Ronopterin addresses a biological signaling pathway whose medical relevance was already recognized with the Nobel Prize for Medicine in 1998. As an investor, we want to help close a previously unmet therapeutic gap."
Prof. Dr. John Stover, CMO of TIBEAY, comments: "We are on the verge of a medical breakthrough: Ronopterin could for the first time provide an effective therapy for patients with severe traumatic brain injury - a patient group for which there is currently no approved treatment. Ronopterin has the potential to improve the neuropsychological condition and quality of life of those affected".
Paul Lelieveld, founder and Managing Partner of Meneldor, adds: "We are very pleased to be working with Athos, MIG Capital and Oost NL on a significant treatment for traumatic brain injury. We are grateful for the trust and the work that the management and all parties involved have done so far."
Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.
Other news from the department business & finance
Most read news
More news from our other portals
Something is happening in the life science industry ...
This is what true pioneering spirit looks like: Plenty of innovative start-ups are bringing fresh ideas, lifeblood and entrepreneurial spirit to change tomorrow's world for the better. Immerse yourself in the world of these young companies and take the opportunity to get in touch with the founders.