Belgian biotech Complix raises $15M for 'Alphabody' R&D work

A Belgian biotech staking a claim to fame and fortune on a new approach to protein therapeutics has rounded up $15.5 million in a Series B. Complix says new investors Edmond de Rothschild Investment Partners, Gimv and Biotech Fund Flanders jumped in alongside LRM, OMNES Capital, Vesalius Biocapital, Gemma Frisius Fund, TrustCapital, Vinnof, Baekeland Fund, and CRP-Santé. Company executives also participated in this round.

Complix has been working on a platform technology for "Alphabodies," which it says combine the targeting ability of antibodies with the cell-penetrating characteristics of small molecules so they can modulate intracellular protein-to-protein interactions. And that gives them a vehicle to develop new treatments for cancer, autoimmunity, CNS and metabolic diseases.

Founded 5 years ago, the biotech says it has raised a total of $34 million. And CEO Mark Vaeck claims to have raised more than $100 million over the years for his various biotech ventures, which include Ablynx and ActoGeniX. The drug developer appears to be still focused on preclinical drug work.

"We have recently demonstrated that Alphabodies have the potential to address intractable intracellular disease targets, including PPIs that cause cancer," Vaeck said in a statement. "These data give us great confidence that our Alphabody platform can deliver the next generation drugs that the pharmaceutical industry is eagerly looking for to drive its growth and tackle a broad range of diseases where current treatment options are limited or non-existent. With the long-term support of this syndicate Complix is well-positioned to execute its ambitious business plan and make this bold vision a reality, creating tremendous value for all our stakeholders, including patients who could benefit from these new drugs."

- here's the release