– FRANCE, Paris – Egle Therapeutics SAS, an emerging biotechnology company focused on developing First-In- Class immunotherapies targeting immune suppressor regulatory T-cells for oncology and autoimmune diseases, today announced that the company has completed a €40m Series A financing co-led by LSP and Bpifrance alongside Fund+, Bioqube Ventures, and Takeda Ventures, Inc. also participating.
Concurrent with the financing, the investor syndicate will join the Board of Directors:
- Felice Verduyn-van Weegen (LSP),
- Vincent Brichard (LSP),
- Jean-Francois Morin (Bpifrance – InnoBio 2)
- Sacha Mann (Takeda Ventures).
Philippe Monteyne (Fund+), Jacques Mizrahi (Bioqube Ventures) and Elisa El Nouchi (Bpifrance InnoBio 2) will join as observers.
The new capital will be used primarily to advance 2 leads assets into the clinic and further strengthen its internal drug pipeline.
“Closing a substantial Series A of €40M from a high-quality syndicate of renowned investors, as well as a partnership with a top big pharma like the one we have announced with Takeda in June 2020, all in less than 18 months, puts Egle on a trajectory to execute its vision of tackling regulatory T cells to restore immunity in patients suffering from cancer and autoimmune diseases” said co-founder and CEO, Luc Boblet. “The funding will give us appropriate resources to push the first Treg starvers into the clinic and we feel very privileged to undertake such responsibility for the benefit of the whole patient community”.
“Egle represents a strategic investment in a First-In-Class technology platform based on innovative research with novel T regulatory modulations and potential in the oncology and auto-immunity fields”, commented Vincent Brichard, Venture Partner at LSP. “We feel privileged to be part of such an exciting company, with world-class science, and look forward to building it out together with the team” adds Felice Verduyn-van Weegen, partner at LSP.
“InnoBio 2 strives to invest in breakthrough ideas and to promote First-In-Class drugs candidates. We are delighted to have co-led a financing round that will enable Egle Therapeutics to broadly invest in its platform technologies, development programs, people, and ultimately, towards delivering a pioneering new generation of immunotherapies to patients in need,” added Jean-François Morin, Investment Director at Bpifrance.
About Egle Therapeutics
Established in early 2020, as a spin-out of Institut Curie by Luc Boblet, serial biotech entrepreneur, and Dr. Eliane Piaggio, a Ph.D., renowned immunologist in the Treg / IL-2 field (INSERM Research Director, Head of the Translational Immunotherapy Team – TransImm – at Institut Curie), Egle Therapeutics develops First-In-Class immunotherapies targeting immune suppressor regulatory T cells (Tregs) for oncology and autoimmune diseases. The key element of Egle’s core approach is the leveraging of its translational-based target discovery platform to unveil novel therapeutic Treg targets and computationally designed immunocytokines acting as antagonists or as selective Treg-agonists.
Egle Therapeutics was founded in early 2020 with a vision to become a game-changer in the field of Tregs immunomodulation through the unique concept of Tregs starving and specifically targeting the most immunosuppressive ones. Spun out of Institut Curie, Egle’s scientific foundation leverages unprecedented, computational-based, IL-2 modified variants and newly tumor-associated Treg targets to build a furnished pipeline of First-In-Class immunocytokines against Tregs.
For more information, visit www.egle-tx.com
About LSP
LSP is one of the largest European investment firms providing financing for life sciences and health care companies. LSP’s management has raised over €2.7 billion ($3.2 billion) and supported the growth of 300 companies since it started to invest in 1988, including signature deals such as Argenx, Crucell, and Neuravi. With offices in Amsterdam, Munich, and Boston, LSP currently can invest through five strategies, each having a distinctive investment scope and a dedicated team: LSP 6 invests in private early- to late-stage drug development and medical technology companies; LSP HEF 2 focuses on private late-stage medical technology companies; the LSP Dementia Fund invests in companies targeting neurodegenerative diseases; LSP Public targets public healthcare companies; and EBAC is the first healthcare SPAC to exclusively focus on European biotech. LSP is an active contributor to the global life sciences industry and the European life science eco-system by assuming for-profit and not-for-profit roles as initiators, founders, and board members in various private and public bodies and organizations, for example being a founder and board member of the Oncode Institute.
About Bpifrance – InnoBio 2
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments, and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export).
InnoBio 2 is an investment fund dedicated to life sciences, managed by Bpifrance, which is also one of the LPs alongside Sanofi, Boehringer Ingelheim, Takeda, Ipsen, Servier, BMS, and Pasteur Mutualité. InnoBio 2, aims to invest in companies developing innovative products and services, close to or in early clinical development, to bring them until the clinical proof of concept. InnoBio 2 takes a minority equity stake in companies and can lead or co-lead the investment rounds.
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