Theodorus has contributed to a $23.8m series A round for NeuVasQ, the neurological disease drug developer spun out of Université libre de Bruxelles.

Belgium-based neurological disorder drug developer NeuVasQ Biotechnologies raised €20m ($23.8m) yesterday in a series A round featuring Theodorus, the university venture arm of Université libre de Bruxelles (ULB). Venture capital firm Newton Biocapital led the $11.9m private investment portion of the round, which included unnamed angel investors. Theodorus participated through its fourth fund, Theodorus IV. The round also consisted of $11.9m of public investment from Belgian state-backed investment firms SFPI-FPIM, InvestSud and SRIW Life Sciences, as well as public-private partnership Sambrinvest. Spun out of ULB in February 2021, NewVasQ is developing pharmaceutical products aimed at a range of health conditions affecting the brain, such as Alzheimer’s disease, epilepsy and strokes. The company’s treatments are based on maintaining the function of the blood-brain barrier, an area of the body that regulates the exchange of molecules between the vascular and central nervous systems. NewVasQ’s technology draws on research led by Benoit Vanhollebeke, a professor in the department of molecular biology at ULB.

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