Cambridge Innovation Capital invests in Complement Therapeutics’ €72m Series A
Cambridge Innovation Capital has made its first investment into German biotech company Complement Therapeutics (CTx), which has lab facilities in Stevenage, as part of a blockbuster €72 million Series A.
The round was co-led by Gimv, a Belgian based private equity and venture capital firm Forbion as existing investor and joined by CIC alongside BioGeneration Ventures, Panakès Partners, Hadean Ventures and Seroba Life Sciences.
It comes just a year after Complement raised €5m seed cash.
The University of Manchester spin-out is a preclinical stage biotech company focused on the R & D of novel therapeutic approaches to address unmet needs in diseases related to complement dysregulation.
CTx will continue the development and complete a Phase Ib clinical proof of concept of the company’s lead product CTx001. This is described as a highly innovative AAV gene therapy for the treatment of Geographic atrophy (GA) secondary to dry age-related macular degeneration.
Proceeds will also be deployed to grow the company’s laboratory-based activities in Stevenage, evaluate CTx's pipeline assets for non-ocular indications as well as further develop the novel Complement Precision Medicine (CPM) platform.
Anne Horgan, Partner at Cambridge Innovation Capital, said: “We are delighted to join Complement Therapeutics’ Series A financing alongside such a strong syndicate.
“The field of GA is one that we know well at CIC and a clear area of unmet patient need. CEO Dr Rafiq Hasan and his team’s combination of strong industry experience and deep understanding of complement-mediated conditions means CTx is extremely well placed to develop novel therapies for patients suffering from GA and potentially other complement-mediated diseases.
“We look forward to working with the CTx team and supporting the company in the next phase of its journey.”
Horgan will join the CTx board. As well as research labs in Stevenage, CTx has subsidiaries in the UK and in the US.