TargED Secures €21.5 M In Series A Extension To Propel Targeted Thrombotic Disease Treatments

The round was led by BioGeneration Ventures (BGV), with additional participation from existing investors including Andera Partners, Fund+, Hadean Ventures, Inkef Capital, Sunstone Life Science Ventures and Curie Capital. With this extension, TargED's total Series A funding now surpasses €60 million.

“The momentum behind TGD001 continues to build from compelling preclinical data to encouraging first clinical use and this financing enables us to move decisively into the next stage of development. We believe TGD001 has the potential to fundamentally reshape the treatment of thrombosis, offering a novel approach to universally dissolving clots across multiple life-threatening indications” said Kristof Vercruysse, CEO and co-founder of TargED Biopharmaceuticals.

TargED Biopharmaceuticals, a spin-off from the University Medical Centre Utrecht, was founded in 2020 by Coen Maas, Steven de Maat, Marc van Moorsel, and Kristof Vercruysse. The company specializes in developing targeted treatments for thrombotic diseases.

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Its lead compound, TGD001, is a targeted thrombolytic designed to treat a wide range of thrombotic events. TGD001 is an antibody-enzyme fusion protein that binds to von Willebrand factor (VWF) and promotes site-specific clot breakdown through the action of the enzyme urokinase. This mechanism provides an advantage over currently approved therapies by leveraging the ubiquitous presence of VWF in all clots, enabling broad clot lysis through the degradation of both VWF and fibrin.

Earlier this month, TargED reported positive Phase 1 first-in-human results for TGD001, showing a favourable safety profile and potent thrombolytic activity. The compound will be further developed for the treatment of acute ischemic stroke (AIS) and thrombotic microangiopathies (TMAs), including immune thrombotic thrombocytopenic purpura (iTTP).

With this new €21.5 million financing, TargED aims to initiate two Phase 1/2 clinical proof-of-concept studies across Europe and the U.S., with the first data expected in 2026. Earlier this year, in June, the company also received a blended finance grant from the European Innovation Council (EIC) under the EIC Accelerator programme, which included a €2.5 million grant and up to €10 million in equity investment.