Complement Therapeutics GmbH secured financing to continue the development and complete a Phase Ib clinical proof of concept of its lead product CTx001, an AAV gene therapy for the treatment of GA secondary to dry-AMD.
Complement Therapeutics GmbH (CTx), a preclinical stage biotechnology company, announced the completion of a €72 million Series A financing. With this new round of financing, CTx will continue the development and complete a Phase Ib clinical proof of concept of its lead product, CTx001. CTx001 is an AAV gene therapy for the treatment of Geographic Atrophy (GA) secondary to dry age-related macular degeneration (dry-AMD).
Additionally, proceeds from this financing will be deployed to grow its laboratory-based activities in Stevenage (UK), evaluate CTx's pipeline assets for non-ocular indications, and further develop the Complement Precision Medicine (CPM) platform.
With previous funding, CTx has advanced CTx001 through preclinical proof-of-concept, secured an Innovation Passport by the Medicines and Healthcare products Regulatory Agency (MHRA), and initiated a non-interventional natural history study in the UK (i-GAIN). The i-GAIN study results will help support the clinical development planning for CTx001.
"With a potentially highly differentiated lead asset combined with a precision medicine approach, we are excited by the opportunity to further develop CTx001 for the treatment of GA through to the clinic." said Dr Rafiq Hasan, CEO and Managing Director at Complement Therapeutics GmbH. "The support of this broad syndicate enables us to generate additional data demonstrating CTx001's unique and differentiated mechanism of action, with the potential to transform the treatment landscape in geographic atrophy."
Michaël Vlemmix, Principal in the Life Sciences platform of Gimv said, "We are proud to have been able to build this syndicate and look forward to supporting Complement Therapeutics in its next phase of development. The company and its team combine deep research insights, strong industry background, and an understanding of complement-mediated conditions, in particular GA secondary to AMD. These strengths, coupled with a focus on addressing the significant unmet need in GA, positions the company to change the way the disease is addressed and potentially achieve meaningful therapeutic impact."