Belgian specialist life sciences investment firm, Droia Ventures, is participating in a massive $152 million Series B funding round for Swiss-US biopharma company Vaderis Therapeutics.
Operating out of the Brussels region, Droia Ventures is a prominent player in the European venture ecosystem, known for backing high-impact biotech and genetic disease startups. Having supported Vaderis Therapeutics prior to this round, Droia returns as an existing investor, showcasing strong confidence in the company's clinical progress.
Headquartered in Basel, Switzerland, with a U.S. subsidiary in Illinois, Vaderis will use the investment to fund operations through to regulatory submissions and potential U.S. approval for its lead candidate, engasertib. Furthermore, the injection triggers the initiation of Vaderis' global Phase 3 "HEROIC" study, which evaluates engasertib as a once-daily oral medication for patients with moderate-to-severe Hereditary Hemorrhagic Telangiectasia (HHT).
“Today represents a defining moment for HHT patients,” says Azmi Nabulsi, president and CEO of Vaderis Therapeutics (pictured). “HHT remains a disease with no approved therapies. Launching what we believe is the first Phase 3 study utilising a molecule specifically developed for HHT is an important step toward changing that.”
Droia and the wider investor syndicate's confidence in the Phase 3 program follows highly promising clinical evidence. Vaderis’ 12-week proof-of-concept results in The New England Journal of Medicine showed that engasertib safely and significantly reduced both the frequency and duration of nosebleeds in HHT patients, establishing a robust scientific foundation for the drug's efficacy.
“The company’s strong scientific foundation, disciplined execution and clear focus on addressing a significant unmet medical need gave us conviction in both the financing and the Phase 3 program,” said Colin Walsh, MD of Life Sciences at Goldman Sachs Alternatives, which co-led the funding round with TCGX, with support from existing investor Medicxi, as well as new backers including EQT Life Sciences, Omega Funds, Perceptive Advisors, and Kalehua Capital.
“This milestone reflects the dedication of our patients, investigators, study teams and advocacy organisations, to whom we extend our deepest gratitude,” Azmi shares. “We are also thankful to our investors for their confidence and support, which have been essential in bringing us to this point.”
Following the close of the transaction, Vaderis' board of directors has been updated to include representatives from each of these companies, including Giovanni Mariggi of Medicxi, Giuliano Marostica of TCGX, Francesco Draetta of Omega Funds, Nick Williams of Medicxi, as well as Colin, representing Goldman Sachs Alternatives.
“Having partnered with Vaderis since its inception, Medicxi has seen the company consistently translate cutting-edge science into meaningful clinical progress,” said Giovanni, co-founder and partner at Medicxi and chairman of Vaderis Therapeutics. “Building on the important contributions of clinicians and scientists that have advanced the field, we are proud to continue supporting Vaderis as it pioneers a regulatory pathway for therapies specifically developed for HHT, while working to bring the first such treatment to patients.”
