Michael Barbella, Managing Editor01.13.23
Enzyre has bolstered its finances with a €12 million Series A financing led by 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.
“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," Enzyre CEO Guido Maertens said. "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.”
Proceeds from the financing will allow Enzyre to further develop its diagnostic technology platform, EnzyPad, which will help hemophilia patients determine and monitor their coagulation status from home in real-time. The funds will support clinical trial registrations, the establishment of a sustainable manufacturing line, and investment in expanding applications in the critical care setting.
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 estimated to affect more than 800,000 people worldwide.1 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.
“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,: said Pieter Rhemrev, senior investment manager at Oost NL, acting as lead investor of the syndicate. "We look forward to joining this team and our syndicate partners in supporting Enzyre’s pathway to future success.”
Enzyre is a spin-out from Radboud University Medical Center in The Netherlands, founded by Maertens and Waander van Heerde. The company is developing a diagnostic device to provide patients with the flexibility to assess their coagulation status regardless of where they are. Enzyre’s platform requires a small volume of blood to measure up to 16 reactions simultaneously with high sensitivity and specificity without any laboratory infrastructure, at home, on the road or in a critical care setting.
Oost NL is the development company of the Eastern Netherlands. It is strengthening the regional economy on behalf of the Ministry of Economic Affairs and Climate Policy and the provinces of Overijssel and Gelderland, by investing public money in entrepreneurs in the east of the Netherlands.
Reference
1 World Federation of Hemophilia. Report on the Annual Global Survey 2020. October 2021.
“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," Enzyre CEO Guido Maertens said. "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.”
Proceeds from the financing will allow Enzyre to further develop its diagnostic technology platform, EnzyPad, which will help hemophilia patients determine and monitor their coagulation status from home in real-time. The funds will support clinical trial registrations, the establishment of a sustainable manufacturing line, and investment in expanding applications in the critical care setting.
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 estimated to affect more than 800,000 people worldwide.1 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.
“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,: said Pieter Rhemrev, senior investment manager at Oost NL, acting as lead investor of the syndicate. "We look forward to joining this team and our syndicate partners in supporting Enzyre’s pathway to future success.”
Enzyre is a spin-out from Radboud University Medical Center in The Netherlands, founded by Maertens and Waander van Heerde. The company is developing a diagnostic device to provide patients with the flexibility to assess their coagulation status regardless of where they are. Enzyre’s platform requires a small volume of blood to measure up to 16 reactions simultaneously with high sensitivity and specificity without any laboratory infrastructure, at home, on the road or in a critical care setting.
Oost NL is the development company of the Eastern Netherlands. It is strengthening the regional economy on behalf of the Ministry of Economic Affairs and Climate Policy and the provinces of Overijssel and Gelderland, by investing public money in entrepreneurs in the east of the Netherlands.
Reference
1 World Federation of Hemophilia. Report on the Annual Global Survey 2020. October 2021.
