The investment will accelerate Scenic Biotech’s transition into a development stage company and facilitate its expansion
The funding will also advance its in-house pipeline while supporting the creation of new programs based on its Cell-Seq genetic modifier target discovery platform including new industry collaborations. It will mean that Scenic Biotech will hire new staff and move to a larger dedicated facility.
Scenic Biotech is dedicated to the discovery of genetic modifiers which enable the development of disease-modifying therapeutics for rare genetic disorders and other genetic diseases. It has managed to raise $31 million in Series A financing led by Eir Ventures, BioMedPartners and Vesalius Biocapital, Inkef Capital, BioGeneration Ventures and Oxford Science Enterprises.
Scenic will now advance its lead QPCTL small molecule immuno-oncology program into the clinic. By using its Cel-Seq discovery platform, the company has generated a pipeline of disease-modifying therapeutics to treat devasting inherited rare diseases.
Three of the programs are being progressed towards IND enabling studies. The first of these programs is centred on a small molecule to treat Niemann Pick Type C. This is a rare lipid storage disorder that affects lipid metabolism or the way fats and cholesterol are transported in human cells.
The second is focused on Barth Syndrome, an inherited mitochondrial disorder caused by mutations in the gene encoding Tafazzin. The third program aims to treat a severe heritable metabolic syndrome.
Scenic Biotech board
Stephan Christgau PhD, General Partner Eir Ventures, Michael Wacker PhD, General Partner BioMedPartners and Stephane Verdood MSc, MBA, Managing Partner Vesalius Biocapital will join Scenic’s board of directors.
Stephan Christgau said, “Scenic Biotech has the potential to become one of Europe’s most exciting biotech companies. It is a pioneer in the ground-breaking and promising new field of genetic modifiers. We are impressed by the power of its Cell-Seq platform and how it’s fueling a portfolio of in-house and partnered programs across multiple therapeutic areas.
This financing will enable Scenic to continue to develop its platform and move its lead program into human clinical trials while bringing its rare disease programs to key-value infection points.”
Scenic Biotech’s CEO Oscar Izeboud said, “I am delighted to welcome our new investors to the company and to thank our existing investors for their continued support. We have made very significant progress since our seed investment, proving the value of our platform, extending its utility, and expanding our team.
We look forward to continuing our growth and delivering on our promise to develop novel treatments to improve patients’ lives.”
Scenic Biotech anticipates more than doubling its team in the coming months including building its clinical capabilities. Scenic will be expanding its facilities within the life sciences cluster at the Science Park in the East of Amsterdam.
