Utrecht, the Netherlands
TargED Biopharmaceuticals B.V., a pioneering Utrecht-based biotech company developing first-in-class biological drugs for thrombotic disorders, today announced that it has been awarded a prestigious blended finance grant from the European Innovation Council (EIC) under the EIC Accelerator program. The funding consists of a 2.5M grant and up to €10 million in equity investment. This milestone reinforces TargED’s mission to expedite clinical development of its lead candidate, TGD001, and further its innovative targeted enzyme delivery platform.
“Winning this competitive EIC grant underscores the groundbreaking potential of our thrombolytic therapy to transform treatment for patients suffering from thrombosis.” stated Kristof Vercruysse, Co-founder and CEO of TargED Biopharmaceuticals. “The grant not only validates our targeted delivery approach, but also empowers us with strategic resources and EU-wide visibility to scale our solution and bring it to those in need.”
EIC Grant: A Leap Toward Clinical Breakthrough
The EIC Accelerator supports high-risk, high-reward innovations with combined grant and equity investments tailored for breakthrough biotechnologies. TargED’s blended finance award – comprising a €2.5 milion grant and up to €10 million in equity – will fund pivotal activities including:
- Advanced manufacturing scale-up for GMP-grade TGD001
- IND-enabling toxicology and pharmacology studies
- Preparation for Phase 2 clinical efficacy trials
The support also includes access to EIC Business Acceleration Services, providing strategic guidance, networking opportunities, and investor connections.
CEO Commentary
“Our team is energized by this endorsement from the EIC,” added Kristof Vercruysse. “It enables us to accelerate beyond proof-of-concept into pivotal development – bringing us closer to delivering a safe, effective thrombolytic therapy that addresses a critical unmet medical need.”
About TargED Biopharmaceuticals
TargED Biopharmaceuticals B.V. is a Netherlands based biotechnology company that develops first-in-class biological drugs to improve treatment of thrombosis. TargED stands for Targeted Enzyme Delivery. Their biological drugs are unique by using antibodies fragments (“VhH”) to deliver enzymes to sites of thrombosis, enabling ‘targeted’ thrombolysis. Its lead compound, TGD001, is currently tested in a first in human clinical trial and will be further developed for the treatment of thrombotic thrombocytopenic purpura (TTP) and Acute Ischemic Stroke (AIS). The objective is to accelerate thrombolysis in all forms of thrombosis, irrespective of the thrombus composition. TargED, a spin-off of the University Medical Center Utrecht, was founded in July 2020. Since then, TargED raised more than €45 million of funding, supporting its growth to become a clinical-stage company.
For more information, please visit www.targedbio.com