ExeVir Bio to Accelerate Development of New Treatment Conferring Broad Protection Against COVID-19

- EUR23M Series A Financing to Advance Lead Novel Llama-derived Antibody into Clinical Trials

- Technology Platform with Potential to Generate Robust Antiviral Therapies

- Founded by VIB, UCB Ventures and Fund+

LEUVEN, Belgium, July 28, 2020 /PRNewswire/ -- ExeVir Bio announces today a first closing of a EUR23 million Series A financing led by Fund+, with the participation of VIB, UCB Ventures, the Belgian Federal Government via SFPI-FPIM, V-Bio Ventures and several Belgian family offices. ExeVir Bio has been established by Belgian partners combining world class science, antibody engineering, manufacturing, blue-chip venture capital investment and Flemish Government financing, which have joined forces in a unique collaboration to boost the development of new therapies to combat COVID-19.

ExeVir Bio, a spin out of VIB, the world-leading Belgium-based life sciences research institute, is harnessing its Llama-derived antibody (VHH) technology platform to generate robust antiviral therapies providing broad protection against coronaviruses. After early pre-financing by the Flemish Government, UCB, a multinational biopharmaceutical company, assisted in the generation of the lead candidate and is producing the GMP batches for clinical trials. Fund+, a leading Life Sciences-focused investment firm in Belgium, led the financing and was instrumental in setting up ExeVir Bio.

ExeVir Bio is using a highly innovative and clinically validated VHH technology to develop treatments for viral infections that may pose a significant global threat. Lead asset VHH72-Fc binds to a unique epitope that is conserved in SARS-CoV-1 and SARS-CoV-2 viruses and this binding prevents these viruses from entering the cell. The importance of this approach is that it could be used both as a therapeutic and prophylactic. Therapeutic use could help slow viral replication in the lungs, reduce inflammation, and give patients valuable time to raise their own productive immune response. Prophylactic use could support the ringfencing of an outbreak, protect healthcare workers, and support those at increased risk of severe illness from COVID-19.

Torsten Mummenbrauer, CEO of ExeVir Bio, said: "We are committed to the international effort against COVID-19 to support healthcare systems and to offer global access to our new treatment. With this Series A financing we can rapidly advance the development of our lead compound into clinical studies by the end of the year. We are confident our Llama-derived antibodies hold a key to saving the lives of patients who can become seriously ill with coronavirus."

The technology platform was developed by VIB-UGent scientists, Professors Xavier Saelens and Nico Callewaert with the help of VIB's drug discovery team at VIB Discovery Sciences, and national and international scientific collaborators. The team has shown that Llama-derived single-domain antibodies can neutralize SARS-CoV-2 in preclinical studies and SARS-CoV-1 in in vitro assays. As Llama antibodies are smaller than human antibodies, they can attach to parts of the coronavirus that would otherwise be inaccessible. The antibodies were derived from a Llama called 'Winter'. A paper on the platform was published on 28 May 2020 in the journal Cell, on 'Structural Basis for Potent Neutralization of Betacoronaviruses by Single-Domain Camelid Antibodies' by Wrapp et al. https://www.cell.com/cell/fulltext/S0092-8674(20)30494-3.

Philippe Monteyne, Partner at Fund+, said: "Our mission is to contribute to Belgium's leadership position in the Life Sciences sector and to generate a tangible, beneficial impact on society. ExeVir Bio fits both of these goals; it has been founded on world class science, with an excellent management team, a global pharmaceutical partner to develop the clinical trial material, and financing to accelerate the development of this promising therapeutic approach to combat the COVID-19 pandemic. The ExeVir Bio team will focus on ultra-fast implementation of this promising research to develop novel treatments with broad protection against coronaviruses. We are confident that they will be the leader in antibody-derived therapies against a broad range of viral infections."

Jérôme Van Biervliet, Managing Director, VIB, said: "VIB-UGent scientists, Xavier Saelens and Nico Callewaert and their team members, and our early drug discovery capability at VIB Discovery Sciences, have been leading a massive effort to identify safe and effective new treatments in the fight against the COVID-19 pandemic and beyond. This is a great example of how the top science and entrepreneurial approach at VIB makes a significant societal contribution in partnership with companies and dedicated investors." 

Dhaval Patel, Chief Science Officer, UCB said: "UCB is focused on the discovery and development of innovative medicines and solutions. We are proud to be part of this great example of science, industry and finance collaborating at a very fast pace to develop a novel treatment for COVID-19."

Minister Crevits, Deputy Prime Minister of the Flemish Government and Flemish Minister for Science and Innovation, said: "Belgium is at the fore-front of cutting edge research, innovation and science, with a highly developed life sciences industry and a deep pool of capital that is available to develop promising, potentially life-saving treatments. At the early stage of this crisis, we quickly decided to support VIB in its search for a treatment for COVID-19. As a result, an important first step has now been taken to develop this treatment on a worldwide scale. We are very proud to support VIB and our researchers in their efforts against COVID-19."

Koenraad van Loo, Managing Director of FPIM, said: "The Federal Holding and Investment Company is excited to participate in this unique antibody concept for potential treatment and prevention of COVID-19. As public investor, we very much care about the health, well-being and job security of our citizens. Therefore, together with our Life Sciences funds, Fund+ and V-Bio, we are committed to play an active role in managing the current health care crisis. FPIM is convinced that ExeVir's powerful platform technology based on camelid antibodies deserves a special place among the numerous initiatives taken and can lay the foundations for a successful therapy to combat future pandemics."

Torsten Mummenbrauer, CEO of ExeVir Bio, Philippe Monteyne, Partner at Fund+, Erica Whittaker, Head of UCB Ventures, Jérôme Van Biervliet, Managing Director, VIB and Katja Rosenkranz, Partner at V-Bio (observer) will join the Board of ExeVir Bio. Further board appointments will be announced in the future.

For more information contact :

ExeVir Bio
Fiona du Monceau, COO
Email: info@exevir.com

Optimum Strategic Communications
Mary Clark, Shabnam Bashir, Manel Mateus
Tel: +44 (0) 203 174 1789
Email: exevir@optimumcomms.com

About ExeVir Bio

ExeVir Bio is harnessing its VHH technology platform to generate robust antiviral therapies providing broad protection against viral infections, including coronaviruses. It is a spin out from VIB, the world class Belgium-based life sciences research institute, based on the work of Professor Drs Xavier Saelens and Nico Callewaert from VIB in collaboration with: Laboratory of Jason McLellan – University of Texas at Austin; Laboratory of Barney Graham – NIAID (Vaccine Research Center); Laboratory of Johan Neyts – KU Leuven (Rega Institute). ExeVir Bio is led by a team of experts that combines international biotech and pharma experience with a successful track record of developing and bringing products to market. It is backed by blue chip investors led by Fund+, VIB, UCB Ventures, FPIM, V-Bio and Several Belgian Family Offices.

About Fund+

Fund+ is a Belgian venture capital firm that invests in innovative European Life Sciences companies developing drugs, medical devices and diagnostics, with a strong focus on patient-centric approaches and major unmet medical needs. With over €200M in assets under management, Fund+ has built a strong track record since 2015, investing in 13 portfolio companies with two major exits.  The fund is managed by a specialist team of seasoned life sciences professionals with healthcare industry, corporate finance and strategy consulting experience, supporting companies throughout their growth cycle.  The company aims to maintain a leading position in the Life Sciences sector, creating sustainable value for its shareholders and a tangible impact on society.  www.fundplus.be

About VIB

VIB is an entrepreneurial non-profit research institute, with a clear focus on ground breaking strategic basic research in life sciences and operates in close partnership with the five universities in Flanders – Ghent University, KU Leuven, University of Antwerp, Vrije Universiteit Brussel and Hasselt University.

VIB scientists study the molecular mechanisms that regulate the functions of the human body, plants and microorganisms. Such mechanistic research leads to innovative insights into the normal and abnormal/pathological life processes, with the potential to use these insights to develop novel therapeutics, diagnostics, agricultural applications and technologies. Thanks to the hard work of many people over a period of almost 25 years and the support of a sustained investment by the government of Flanders, VIB is widely recognized as an established and world-leading knowledge center in life sciences and biotechnology with an excellent reputation in technology transfer. The unique combination of strategic basic research and a clear focus on innovation & business is one of the major contributors to its success. VIB is highly committed to being the driving force behind the growth of the dynamic life sciences cluster in Flanders.

About UCB

UCB, Brussels, Belgium (www.ucb.com), is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system. With more than 7,500 people in approximately 40 countries, the company generated revenue of € 4.9 billion in 2019. UCB is listed on Euronext Brussels (symbol: UCB). Follow us on Twitter: @UCB_news 

About UCB Ventures

UCB Ventures is a €150 million strategic corporate venture fund established in 2017 to further strengthen UCB's ability to create value from novel insights and technologies that can transform the lives of patients suffering from severe diseases. UCB Ventures invests in innovative therapeutics and technology platforms that are early stage and higher risk, in areas adjacent to or even beyond UCB's therapeutic focus on neurology/neurodegenerative diseases, immunology and muscular skeletal/bone health. UCB Ventures takes an active role in its portfolio companies, contributing expertise in drug discovery, development and operations. Visit www.UCBVentures.com to learn more.

About FPIM

The Belgian Federal Holding and Investment company (Société Fédérale de Participations et d'Investissement /Federale Participatie- en Investeringsmaatschappij; SFPI/FPIM), created on November 1th, 2006, is the sovereign wealth fund of Belgium, driving long-term and sustainable economic and social prosperity. SFPI/FPIM, with the Belgian Government as its sole shareholder, acts as a trusted partner in helping Belgian companies to become a reference in their industry by providing smart capital solutions. In addition, SFPI/FPIM safeguards the long-term stability of the Belgian economy by contributing to the anchoring of strategic assets in both promising and established companies. SFPI/FPIM has about 14 bln EUR in assets under management for the Federal State.  http://www.sfpi-fpim.be/en

About V-Bio Ventures

V-Bio Ventures (www.v-bio.ventures) is an independent venture capital firm specialized in building and financing young, innovative life science companies. V-Bio Ventures was established in 2015 and works closely with Belgium-based VIB, one of the world's premier life science institutes. The fund invests throughout Europe in start-up and early-stage companies with high growth potential focusing on technologies that provide transformational improvements in the biopharmaceutical, pharmaceutical, diagnostics and agricultural sectors.