Acticor Biotech, a Paris, France-based clinical stage biotechnology company involved in the acute phase of thrombotic diseases, including stroke and pulmonary embolism, completed a €15.3m Series B round of financing.
The round was led by Newton BioCapital, followed by Mirae Capital, a Korean fund, CMS Medical Venture Investment Limited and A&B (HK), and existing investors CapDecisif Management. The Series B might be completed by an additional financing of up to €5M in order to finance additional clinical developments with ACT017 in other indication.
In conjunction with the funding, Alain Parthoens, Managing Director of Newton Biocapital, will join the Board of Directors. Hyun Tae Kim, General Manager, Head of Bio Investment Team of Mirae Asset Capital, a subsidiary of Mirae Asset Financial Group, will now join the Board of Director as observer.
The company intends to use the funds to finance its first phase II in acute ischemic stroke with its lead candidate ACT017.
Led by Gilles Avenard, President, Acticor Biotech is a spin-off of INSERM focused on developing an innovative treatment in the therapy of acute thrombotic diseases, including ischemic stroke and pulmonary embolism.
Built upon the expertise and the results of researches conducted by founders Dr. Martine Jandrot-Perrus at INSERM Paris and Pr. Philippe Billiald at Paris-Sud University, the company is developing ACT017, a humanized Antibody Fragment (Fab). The therapeutic candidate is directed against a novel target of major interest, platelet glycoprotein VI (GPVI), and inhibits its action. Evidence of antithrombotic efficacy of ACT017 and safety of inhibition of GPVI have been established both ex vivo and in vivo. The target is involved in the growth of the thrombus, but not in physiological haemostasis. This limits the bleeding risk associated with its inhibition.