Imcyse immunises $31.4m

Imcyse, a Belgium-based immunotherapy developer spun out of KU Leuven, yesterday raised €28m ($31.4m) in funding from investors including the university.
Life Sciences Partners led the round, which also included Belgian state-owned investment firm SFPI-FPIM, Wallonia government investment firm SRIW, growth capital firm Epimède, family office Biogenosis and private equity firm Noshaq.
Imcyse additionally received $5.2m in subsidies and debt from the Walloon government, as well as a $2.3m loan from state-owned local development bank Belfius.
Founded in 2010, Imcyse is working on modified peptides, called imotopes, that act as the basis for immunotherapies for a range of autoimmune diseases.
The peptides promote the creation of new healthy white blood cells to selectively destroy cells affected by the target condition.
Imcyse will use the capital to fund development of its lead candidate, an injectable medication for type 1 diabetes that spares the need for repeated insulin dosing in young children.
The candidate recently completed a phase 1b clinical study due to report back later in summer 2019, and Imcyse is now lining up phase 2 trials of the same drug in addition to clinical research targeting other autoimmune diseases.
These include rheumatoid arthritis, optical neuromyelitis and multiple sclerosis, with a phase 1 study in the latter indication anticipated in 2020.
Imcyse’s founding research was spearheaded by Jean-Marie Saint-Remy, a professor in KU Leuven’s Faculty of Medicine.
The company, which has development deals with drug maker Pfizer and another unnamed pharmaceutical firm, expects to raise additional funding in future and will reportedly consider an IPO to drive its research going forward.
Imcyse previously obtained $26m in a 2012 funding round led by Noshaq, then known as Meusinvest, though reports at the time put the round at $9m and suggested it was led by Biogenosis. It is unclear whether the $26m total included non-dilutive funding.
KU Leuven was identified as a returning investor for the latest round, though details about its earlier involvement could not be ascertained.