On September 8, 2020 VECT-HORUS, a biotechnology company that designs and develops vectors that facilitate the targeted delivery of therapeutic molecules and imaging agents, reported that it has raised €6.7 million (Press release, Vect-Horus, SEP 8, 2020, View Source [SID1234564771]). In this new round of financing participated historic shareholders and also new entrants . It will strengthen the company’s equity capital, enabling it to develop its programs and the upcoming clinical trial of its first theragnostic agent (contraction of the terms "therapeutic" and "diagnostic").
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The proceeds of this new round of financing will enable the company to increase its R&D investments in order to optimize its VECTrans technology and, more specifically, to identify new vectors that will expand its portfolio. It will also enable the development of new conjugates associating the company’s vectors with therapeutic biomolecules: antibodies, mRNAs and various antisense oligonucleotides, including siRNAs. Therefore, the vectorization potential of the VECTrans platform will be significantly enriched in order to achieve its targeted therapy objectives in multiple organs and indications.
Moreover, with its co-development partner RadioMedix (a company based in Houston USA and specialized in nuclear medicine), VECT-HORUS is preparing the pre-IND dossier of its theragnostic agent for clinic trials in 2021 for the diagnosis of glioblastoma.
Finally, several collaboration agreements have been signed or are currently under negotiation with various pharmaceutical partners. The company aims to balance its R&D programs with an increasing flow of revenues from these industrial partnerships.
"This new chapter in our growth will enable our company to strengthen its ties with the pharmaceutical industry in the field of nervous system pathologies and also in other areas, with a view to developing targeted therapy to other organs", stated Alexandre Tokay, Chairman of VECT-HORUS.
VECT-HORUS is consolidating its growth via a mixed business model, based on its proprietary VECTrans technology, both to make its technology platform available to pharmaceutical and biotechnology company partners and to develop an internal pipeline of products, which are growth drivers for the company.