37 million euro round: Gimv invests in biotech company Camel-IDS
Antwerp (BE) — Brussels-based Camel-IDS, which is developing novel radioimmunotherapy drugs to treat cancer, has closed a €37 million Series A financing round — making it one of the larger rounds among early-stage life sciences companies in Europe. European private equity firm Gimv is the lead investor together with V‑Bio Ventures, contributing six million euros. Other investors include HealthCap, Novo Seeds, Pontifax and BioMedPartners. With the new capital, Camel-IDS plans to conduct a Phase Ib/II clinical trial for its lead development candidate in breast cancer with brain metastases, as well as further expand its pre-clinical pipeline.
Camel-IDS (www.camel-ids.com) was founded in 2014 as a spin-off of the Vrije Universiteit Brussel (VUB). The company develops novel radiopharmaceuticals based on single domain antibodies linked to radionuclides. Patients with breast cancer whose tumors have an elevated presence of the growth-promoting HER2 oncoprotein can now be treated effectively and specifically, but their prognosis is extremely poor if the cancer spreads to the brain. The most advanced development candidate of Camel-IDS starts there: It is intended to irradiate corresponding brain lesions effectively and without harming healthy tissue. This is based on a unique technology platform that takes advantage of the favorable tissue distribution of single domain antibodies associated with radionuclides, as found in camelids.
Karl Nägler (photo), Partner of Gimv’s Health & Care platform., explains: “In our discussions, the great competence of the Camel-IDS team in the field of radio-immunotherapy and the exceptional expertise of Professor Tony Lahoutte became apparent early on. With CEO Ruth Devenyns, the company also has an accomplished connoisseur of the European biotech market and a successful entrepreneur. These are the best prerequisites for the next stage of development.”
Gimv’s commitment is the company’s fourth investment this year in the life sciences, medical technology and healthcare sectors and underscores Gimv’s role as one of the most active investors in the European healthcare industry. This brings the number of portfolio companies in Gimv’s Health & Care platform to 21.
Gimv is a European investment firm with nearly 40 years of experience in private equity and venture capital. The company is listed on Euronext Brussels, currently manages around EUR 1.6 billion and currently invests in around 50 portfolio companies, which together generate revenues of more than EUR 2.5 billion and employ more than 14,000 people.
Gimv identifies innovative, leading companies with high growth potential and supports them on their way to market leadership. Each of the four investment platforms Connected Consumer, Health & Care, Smart Industries and Sustainable Cities is managed by a dedicated and competent team, each based in Gimv’s home markets — Benelux, France and DACH — and supported by an extensive international network of experts.
For more information about Gimv, visit www.gimv.com.