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Camel-IDS is a spin-off company of the VUB developing cancer-targeted radiopharmaceuticals. It secured EUR 37m in a Series A investment round led by V-Bio Ventures (Belgium) and Gimv (Belgium), joined by the co-lead investors HealthCap (Sweden), Novo Seeds (Denmark), Pontifax (Israel) and BioMedPartners (Switzerland). Existing investors also participated. The previous capital increase, led by business angels and with the support of the Brussels Region and Innoviris, has enabled Camel-IDS to generate results that made it possible to secure the next development cycle. The proceeds will enable Camel-IDS to run a phase Ib/II trial with its lead program CAM-H2 targeting HER2-positive brain metastatic breast cancer, while further progressing and broadening its preclinical pipeline.
Tony Lahoutte, CSO and co-founder complements:
Brain metastases in breast cancer are devastating for patients and difficult to treat. The lead program at Camel-IDS is focused on the development of a new treatment option for this condition. We are heartened by the strong interest of the investors that will enable us to bring this treatment to the patients.
Breast cancer patients with tumors that overexpress HER2, a growth-promoting protein, can benefit from effective targeted treatments today, yet have a poor prognosis when the cancer progresses towards the brain. Camel-IDS’ lead program CAM-H2 aims to effectively irradiate brain lesions while sparing healthy tissue, based on its unique technology platform that leverages the favorable tissue distribution of camelid derived single domain antibodies linked to radionuclides. The company’s technology platform also allows for a theranostic approach, where patients can be selected using a low dose/imaging version of the product, followed by a high therapeutic dose for treatment.
In connection with the financing Christina Takke from V-Bio, Karl Naegler from Gimv, Mårten Steen from HealthCap, Morten Graugaard Døssing from Novo Seeds, Ohad Hammer from Pontifax will join the board of directors.
Ruth Devenyns, CEO of Camel-IDS comments:
The successful financing underscores the potential of our innovative technology and product pipeline. We are grateful for the continued support from our existing shareholders and look forward to welcoming the new international investor syndicate that has extensive experience in leveraging platform technologies to develop multi-product opportunities.
Camel-IDS originated from VUB’s Molecular Imaging research group and the UZ Brussel Nuclear Medicine Department, headed by Prof. Tony Lahoutte, and was established as spin-off in 2015. Other researchers who contributed to the successful evolvement are Geert Raes, Matthias D’Huyvetter, Nick Devoogdt and Jens De Vos. The company develops novel radiopharmaceuticals, using camelid single domain antibody fragments (sdAb) labeled with radioisotopes. It’s lead product CAM-H2, a new treatment option in HER2-positive cancers, is in early clinical development. The pipeline further consists of two pre-clinical programs leveraging the technology strengths. Camel-IDS has received seed funding from the Fournier-Majoie Foundation and three seed investors, complemented with non-dilutive funding from Innoviris.