Paris, France, March 2022, 16th – Jeito Capital (“Jeito”), a leading independent private equity firm dedicated to biotech and biopharma, today announces that it has co-led an investment of €80 million in Precirix, a clinical-stage biotechnology company developing precision radiopharmaceuticals in oncology. The Belgian biotech company was created in 2014 as a spin-off from the Vrije Universiteit Brussel (VUB), one of the best European centers for medical research, and is dedicated to extending and improving the lives of cancer patients by designing and developing precision radiopharmaceuticals.
Jeito has co-led this investment with INKEF Capital and Forbion, two other leading European Life Sciences funds. Sabine Dandiguian, Managing Partner at Jeito, will join Precirix’s Board of Directors.
The proceeds will fund the development and expansion of Precirix’s pipeline. The company will advance its lead product candidate, CAM-H2, through its ongoing Phase I/II study, and plans to bring additional novel radiopharmaceuticals to the clinic.
While radiopharmaceuticals have proven clear clinical benefits for several decades, the field is advancing significantly in recent years and Precirix’s innovative and differentiated platform aims to provide a new hope to many new patient populations. Precirix’s platform brings together several unique features and facilitates the development of radiolabelled single domain antibodies (sdAbs) for multiple targets, in combination with different isotopes and applicability in various settings. Precirix’s lead product candidate, CAM-H2, is currently in a Phase I/II study for the treatment of HER2-positive metastatic breast and gastric cancer. Following the absence of any dose-limiting toxicities in the first cohort and a positive review from the Safety Review Committee, patients are now being enrolled in the second cohort of the dose-escalation phase.
With this new and ninth investment, Jeito Capital continues its mission to build a diversified portfolio of future European leaders with potentially groundbreaking therapies for the benefit of patients in areas of unmet needs.
Rafaèle Tordjman, Founder and CEO at Jeito, said: “We are pleased to have co-led this financing in Precirix alongside other high-quality European investors. At Jeito, we are continuing to identify and invest in companies in Europe that have the potential to be market leaders in the development of new and improved therapies for patients in areas of unmet need. Precirix is a clinical stage company which has the potential to significantly improve the lives of new patient populations with its targeted precision radiopharmaceuticals. We look forward to supporting the growth of the company in the long term as it builds its disruptive pipeline and accelerates the development and approval of next generation therapies for patients.”
Sabine Dandiguian, Managing Partner at Jeito Capital, said: “We are thrilled to co-lead this round with the ambition to support the company to bring a new alternative to patients suffering from advanced cancer, in total coherence with Jeito’s mission which is to “go faster to the patient, further with the entrepreneur.”
Ruth Devenyns, CEO of Precirix, added: “We are delighted to announce this major milestone and are grateful for the strong investor support. The addition of Inkef, Jeito and Forbion, three leading VC-funds in the healthcare sector, significantly reinforces our international shareholder base. The investment will allow Precirix to accelerate its growth trajectory and to further validate and broaden the technology platform.”
About Jeito Capital
Jeito Capital is a global leading investment company with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports entrepreneurs through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access in Europe and the United States. Jeito Capital has €534 million under management and has already built a strong portfolio of diversified companies, rapidly growing. Jeito Capital is based in Paris with a presence in Europe and the United States.
About Precirix NV
Precirix is a private, clinical-stage biopharmaceutical company founded in 2014 as a spin-off from the VUB, dedicated to extending and improving the lives of cancer patients by designing and developing precision radiopharmaceuticals, using camelid single-domain antibodies labelled with radioisotopes. The company has a broad pipeline with one product candidate in a Phase I/II clinical trial and two in advanced preclinical stage. Research on multiple isotopes, linker technology and combination therapies further expand the platform. Precirix’ technology also allows for a theranostic approach, where patients can be selected using a low dose/imaging version of the product, followed by a therapeutic dose for treatment.
For more information, please see www.precirix.com.