Danish Biotech Breye Therapeutics Raises €67.5 Mn Series A Funding

The funding round was co-led by new investor Mission BioCapital and existing investor Novo Holdings. Existing investor Sound Bioventures also participated, along with new investors including the Ljungström family office, Innovestor Life Science, EIFO, Catalyze Capital, Modi Ventures, and Pappas Capital.

As part of the investment, Robert Blazej, Partner at Mission BioCapital, and Lukas Ljungström from the Ljungström family office will join Breye’s board.

Ulrik Mouritzen, Chief Executive Officer, Breye Therapeutics, said, “This €67.5 million Series A financing, which includes significant support from both new and existing investors, reflects the strong confidence in Breye’s vision, strategy, and pipeline. It marks a major milestone for the Company and validates the enormous progress we have made to date. Importantly, it enables us to advance danegaptide, our pioneering, first-in-class oral treatment for diabetic retinopathy, to the next stage of clinical development – bringing a much-needed patient-friendly treatment option closer to those living with this debilitating eye disease.”

Robert Blazej, Partner, Mission BioCapital, said, “Breye is emerging as a leader in the development of innovative retinal disease therapies, as demonstrated by the promising results from its recent Phase Ib study of danegaptide, and we are excited to support the Company at this pivotal stage of growth. With its highly differentiated approach, clear development strategy and experienced team, we believe Breye is uniquely positioned to address a significant unmet need in diabetic retinopathy.”

Breye Therapeutics was founded in 2019 and came out of stealth mode in November 2022. At that time, the company raised €4 million in Seed funding.

The Seed round was led by Novo Holdings and Sound Bioventures, which also became early investors in the company.

Breye is led by Mouritzen, a medical doctor with more than 20 years of experience in research and development, regulatory affairs, and commercial operations across Europe and the US.

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