- Proceeds will enable the development of the Company’s lead autoimmune program DT-001, targeting TNFR2, as well as its pipeline of Treg-targeting candidates
- Financing co-led by Andera, Fountain Healthcare Partners and Forbion with support from all existing investors
- Bernard Coulie appointed as Independent Chairman with immediate effect
Andera Partners co-leads a €40 million Series A financing of Dualyx NV, a Ghent, Belgium based biotech developing next generation immune modulators. Alongside Andera, Fountain Healthcare Partners and Forbion co-led the round, with support from existing investors V-Bio Ventures, BGV, PMV, VIB, HTGF, and GFF. The funds raised will enable Dualyx to progress its lead autoimmune program DT-001, as well as its pipeline of Treg-targeting candidates.
Aneta Sottil, Director at Andera Partners will join Dualyx Board as non-executive director. The financing reflects the strategy of BioDiscovery 6 fund managed by Andera Partners, with investment into a highly innovative company developing novel drug candidates that can address significant unmet needs of patients suffering from autoimmune disorders.
Dualyx’ lead program DT-001 targets the highly attractive TNF receptor 2 (TNFR2), widely regarded as a master control switch in immune modulation. Through state-of-the-art antibody development, Dualyx has developed an agonist to the receptor which shows highly selective activation of regulatory T cells (Tregs).
To date, promising results have been observed from pre-clinical research with DT-001 and investigational new drug (IND)-enabling studies have begun. DT-001 holds promise to be a game-changing treatment option for a broad range of autoimmune diseases. The funds will be used to progress Dualyx DT-001 program into its early clinical proof-of-concept phase. The company has a pipeline of additional Treg-focused programs in early-stage development.
Aneta Sottil, Director at Andera Partners, commented: “We have been impressed by the technology and the potential of Dualyx’ novel pipeline, and especially its lead TNFR2 program. We are excited to be able to partner with the company as they reach proof-of-concept stage. I look forward to working closely with this excellent team.”
Alongside the financing, Bernard Coulie, CEO of Pliant Therapeutics, joins the company as Independent Chairman with immediate effect. Bernard brings with him a wealth of experience in founding and leading successful biotech companies.
“We are delighted to welcome the expertise and support of such top tier investors to Dualyx, completing our high-quality international investor base. We would also like to extend a warm welcome to Bernard as Chairman. I am confident that the combined support of our new board will enable progress with our highly promising TNFR2 program, and ultimately our goal of addressing hard-to-treat autoimmune diseases,” added Wouter Verhoeven, CEO of Dualyx.
Dualyx was founded two years ago by CSO Luc Van Rompaey, in a collaborative model with Wurzburg University, Argenx, VIB, Ghent University and KU Leuven.