Dutch company, Enzyre, which is developing ambulant diagnostic technology for blood coagulation testing, today (November 2) announced it has successfully raised €12 million ($11.9 million) in series A financing.
The round was led by new investor, Oost NL, with participation from i&i Biotech Fund, Demcon Investment as technology partner and existing investors, Takeda Ventures and Novalis Biotech. Part of the funding is an innovation credit from the Dutch government.
Enzyre says the financing will enable it to further develop its diagnostic technology platform, EnzyPad, which it says will enable hemophilia patients to determine and monitor their coagulation status at home in real-time. The funds will support clinical trial registrations, establishing a sustainable manufacturing line and investment in expanding applications in the critical care setting.
Guido Maertens, chief executive officer of Enzyre, said: “We are delighted to have closed this successful financing round which validates our technology and will underpin our ongoing development as we take Enzyre forward into the next phase of growth.
“We value Takeda’s continued support and welcome the commitment from a strong cohort of new and existing investors. Together we look forward to improving the quality of life for patients living with bleeding disorders by driving forward our goal to transform their standard of care.”
Enzyre’s first product, Hemophilia EnzyCard, uses the company’s proprietary EnzyPad platform technology to determine the coagulation status of patients with hemophilia, a rare genetic disorder which, according to The World Federation of Hemophilia is estimated to affect over 800,000 people worldwide.
Those with hemophilia A lack sufficient blood-clotting factor VIII (FVIII) activity, causing them to bleed for longer after an injury compared to healthy subjects. Due to the complexities associated with managing the condition, patients benefit from being able to safely monitor their condition at home while potentially staying connected with their care team by telemedicine.
Enzyre’s technology will enable patients to self-test in a home setting, and eventually transfer their coagulation status to their treating physician through a mobile phone app and a cloud-based application. This will allow for timely personalized therapy adjustments that may improve clinical outcomes while avoiding unnecessary travel and hospital exposure, ultimately decreasing overall treatment burden and cost for patients and healthcare systems.
Pieter Rhemrev, senior investment manager at Oost NL, acting as lead investor of the syndicate, said: “We are excited to be working with Enzyre in developing a truly innovative technology that is a potential game changer in the management of Hemophilia A and other bleeding disorders. Patient outcomes and quality of life will be dramatically improved by the ability of physicians to monitor coagulation status in real-time and we see great potential for the product to enhance personalized care. We look forward to joining this talented team and our syndicate partners in supporting Enzyre’s pathway to future success.”