Phlox Therapeutics (“Phlox”), a private biotechnology spin-off from Amsterdam UMC and specializing in developing innovative RNA-therapeutics for rare genetic cardiomyopathies, has secured additional seed funding to advance Phlox’s lead program aimed at rare genetic laminopathies. In this funding round Innovation Fund Noord Holland (INH), AMC Ventures Holding, and Utrecht Health Seed Fund (UHSF) have joined forces with existing investor FIRST, managed by BioGeneration Ventures (BGV), to support Phlox’s efforts. Phlox will use the funds raised in the seed financing round to advance the company’s lead program into preclinical development. This round will also enable Phlox to continue to build its team and expand its platform technology.
The company’s platform technology enables simultaneous targeting of multiple Lamin mutations. The versatile nature of these RNA-designs eliminates the need for generating mutation-specific compounds to treat each distinct mutation, rendering these compounds suitable for most Lamin mutations. Phlox is committed to utilizing this proprietary platform technology to develop RNAtherapies that can effectively treat genetic diseases resulting from mutations in a single gene. This includes addressing Laminopathies, a specific and frequently severe form of heart failure caused by structural protein defects in the cardiac cell nucleus due to mutations in the Lam in gene.
Commenting on the seed financing round, Phlox’ CMO and cardiologist Yigal Pinto said, “We are thrilled to have the support of this group of investors as we work towards developing Life-changing RNA-therapies for many of my patients who struggle with a cardiomyopathy for which there are no disease modifying therapies. This funding will enable us to accelerate our efforts to bring these therapies to the clinic and help improve the Lives of our patients that are suffering from this destructive disease.”
Wouter Keij, Fund Manager of lnnovation Fund Noord-Holland commented on behalf of all four investors “We are excited to work with the Phlox team and to support such an impactful innovation to pave a way for more RNA-based therapies to come. We are proud to be backing Phlox in their effort to bring these potentially Life-changing therapies to those in need for treatments for cardiac deseases.
IXA has supported the licensing of the Intellectual Property. For IXA this is an excellent example of how the applied potential of academic research via licensing of intellectual property will help bring about innovative medical developments in order to help patients.
About Phlox Therapeutics
Phlox Therapeutics is a biotechnology company that develops first-in-class RNA therapies for cardiomyopathies. Phlox’s Lead program focuses on Laminopathies, a rare inherited cardiomyopathy that can cause a plethora of symptoms affecting the heart as well as skeletal muscles. Next to its program in Laminopathies, Phlox Therapeutics is aiming to Leverage similar RNA-based strategies to target other cardiomyopathies. As such, Phlox Therapeutics strives to develop multiple gene therapies that are able to reduce the negative effects caused by genetic mutations. Learn more at www.phloxtherapeutics.com.
About lnnovation Fund Noord Holland
Innovatiefonds Noord-Holland (“INH”) is an initiative of the Province of North Holland, the University of Amsterdam, the Vrije Universiteit Amsterdam, the Amsterdam University of Applied Sciences, Amsterdam UMC and Sanquin, with support from the Netherlands Enterprise Agency & the European Union through the European Regional Development FundlNH supports entrepreneurs within various sectors in the Province of North Holland by financing innovations in the Proof-of-Concept phase through providing convertible Loans. For more information, please visit: www.innovatiefondsnoordholland.nl.
About AMC Ventures Holding
AMC Ventures Holding is an early-stage investor in academie spin-off companies from the Academie Medical Center (AMC). AMC Ventures Holding works closely with academies and entrepreneurs at the earliest stage of company formation to support the commercialization of knowledge. For more information please visit the website.
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