Avidicure, a biotechnology company creating an entirely new multifunctional antibody modality with broad applicability in oncology, announced its launch with a $50 million seed financing round, led by EQT Life Sciences with participation from Kurma Partners, BioGeneration Ventures, BOM, Curie Capital, and V-Bio Ventures.
The company is developing dual agonistic, multifunctional, and avidity-engineered antibodies, AVC-Boosters, which can safely deliver targeted and potent cancer monotherapy. AVC-Boosters unlock strong and orchestrated immunological responses, harnessing the full power of both the innate and adaptive immune system. And the AVC-Booster design surpasses the best qualities of first-generation antibodies, checkpoint inhibitors, T-cell engagers, and antibody-drug conjugates (ADCs).
Avidicure’s fully owned proprietary platform utilizes decades of antibody engineering, in silico protein design capabilities, and immunology expertise. And through the AVC-Booster plug-and-play functionality, multiple products can be developed. Avidicure’s lead product, AVC-S-101, is a TROP2-targeting booster being developed for non-small cell lung cancer and multiple other indications.
Avidicure is headed by an experienced team with an established drug discovery, development, and commercialization track record. And the founding management team consists of Arthur Lahr (CEO), Dirk De Naeyer (COO), Robert Friesen (CSO), and Govert Schouten (CBO), who previously served as executive management in Crucell, Ablynx and Kiadis, and played major roles in the acquisitions of these successful European biotech companies. The Supervisory Board includes industry veterans Frank Verwiel (Intellia, Aptalis, Bavarian Nordic, Merck & Co.), Martijn Kleijwegt (EQT-LS), Hunter Smith (Rhythm), and Helen Collins (Five Prime, Enliven, Gilead, Amgen).
KEY QUOTES:
“AVC-Boosters have the potential to change the treatment landscape for a wide range of cancers as first-in-class multifunctional antibody products that safely mobilize the full power of the immune system. Our products drive targeted and potent immune responses only in the tumor with reduced toxicity risk. We are eager to build a broad pipeline with our unique platform and progress our lead oncology product, AVC-S-101, into clinical development for solid tumors.”
Arthur Lahr, Chief Executive Officer of Avidicure
“Avidicure is taking an entirely new approach with broad clinical potential. Avidicure’s multifunctional antibodies provide a novel treatment modality with a unique, differentiated mode of action. These products are well-positioned to make a significant impact in the treatment of cancer patients.”
Dr. Joern-Peter Halle, former Chief Strategy Officer and Global Head of Research at Merck KGaA and Chairman of Avidicure’s Scientific Advisory Board
