TargED awarded NWO Take-Off Phase II grant for the development of Microlyse - a next-generation thrombolytic clot-busting drug

We are very pleased to announce that The Netherlands Organization for Scientific Research (NWO) has granted the Take-Off Phase II loan (€250.000) for the further development of our lead compound, Microlyse. The Take-off Phase II is an early stage route that supports entrepreneurs in turning their innovation into a commercially viable product. In 2019, Microlyse was supported by the Take-Off Phase I grant to deliver proof of concept in a pre-clinical model. TargED will use the current grant to expand and strengthen their R&D development and to further grow their business.

Kristof Vercruysse, interim CEO of TargED said:

"Next to the support of our investors, we are very pleased with the award and recognition of the NWO, which will provide us the necessary support to bring Microlyse closer to the clinic, aiding millions of patients around the globe.”

Background statements

About Microlyse
TargED’s Microlyse, a new proprietary clot-busting compound, binds to a protein that is present in all forms of thrombosis, ranging from those that obstruct the largest vessels to the smallest vessels in the body (microvasculature). Due to its unique mechanism of action, Microlyse can stimulate a natural pathway that dissolves these blood clots. This therapeutic approach can be used to rapidly eliminate occlusive blood clots and has the potential to outperform current thrombolytic therapies. TargED is currently developing Microlyse for acute ischemic stroke and the orphan disease TTP (thrombotic thrombocytopenic purpura).

About TargED
TargED Biopharmaceuticals, a biotech spin-off of the University Medical Center Utrecht founded by Associate prof. Coen Maas, PhD, Steven de Maat, PhD, Marc van Moorsel and Kristof Vercruysse, recently raised EUR 1.35 million to develop Microlyse, a unique biotechnological drug that allows for rapid degradation of blood clots that obstruct the vasculature. The funds include a seed investment from FIRST fund, Curie Capital and Utrecht Health Seed Fund as well as a public-private-partnership with UMC Utrecht, supported by additional funding from Health Holland.

Source: TargED